Topic: Stake.com does not deem crypto earnings as legal - page 3. (Read 796 times)

Stake asked the OP to provide his source of funds statement. They have suspended his account and requested for those documents. OP will be able to access his account again if he can successfully go through the verification process.

I doubt that any casino will consider crypto earnings as source of funds. Casino will ask for the bank statement at least.

what if i found some money lying on the street? i can't gamble with it because i don't know where it came from?

why don't they say we won't allow u to play if u can't provide the source of your funds? it is only after u have won and try to withdraw that they get so worried about these things.

Are they confiscating your funds? Or did they tell you to withdrawal your funds you are no longer accepted on the site? Those are 2 completely different things and the whole scene needs to be painted in the correct light.

You can use one of the following documents to verify your source of funds:

    Salary ( You will need to send us a recent bank statement indicating receipt of your salary or original of your payslip )

    Sales of shared or other investments / liquidation of investment portfolio / bonds ( You will need to send us a bank statement clearly showing receipt of funds and investment company name or interest on bonds received )

    Sale of property ( You will need to send us a copy of the contract of sale and a bank statement showing the proceeds of the sale )

    Inheritance ( You will need to send us a copy of the deceased's will, and a bank statement showing the received funds, along with your current balance )

    Company sale ( You will need to send us a letter detailing company sale signed by a licensed solicitor or regulated accountant on letter-headed paper )

    A Gift from a family member or close relative ( You will need to send us a donor's letter explaining the reason for the gift and the source of their wealth. Also, we will require certified identification documents from donor )

    Winning the Lottery ( You will need to send us a receipt of winnings and documentation e.g. bank statement showing the origin of the funds initially deposited )

    Divorce settlement ( You will need to send us a divorce settlement agreement and bank statement clearly showing receipt of funds )

    Loan ( You will need to send us an executed copy of the loan agreement and a bank statement showing the received funds along with your current balance )

    Mining ( You will need to send us a ledger of the amount of cryptocurrency mined, as well as a wallet address and transaction hash to which the mined cryptocurrency was delivered )

I agree especially since Stake runs a signature campaign and they pay something like $200 a month to people who post with their signature. That's a fair amount of money and they should assume that people can work this way for other businesses and then spend the money gambling on their platform. It would be pure hypocrisy if they started banning people for gambling with money they earn on this forum.

I saw OP's screenshot and feel like it's still an open case. We'd need to see the conclusion and the answer from their legal department to know what's really up because the support doesn't seem to know what their final decision will be.

<...>
I have asked support and they have confirmed that they do not deem any crypto earnings as legal and valid source of income apart from income made through mining. This means if you are a service provider, a seller or simply a trade you cannot provide proof of funds at stake as they only deem mining earnings as legal and everything else is illegal and invalid.



I earn my money from trading, selling some services and sometimes airdrops and stake tells me I am invalid

I'm afraid to think you're a little bit too naive IMO. If it was just a matter of regulation, ramanlop0 would have not been allowed to deposit his money there and to gamble it until reaching the platinum 4 rank that requires $2,500,000 to be wagered according to this page https://help.stake.com/en/articles/4793501-stake-vip-program-overview
The bear market has hit many crypto companies, Stake could be one of them and could encounter difficulties to pay out customers winnings now.

IIrik11's comment is right. And we can also wonder why do they accept deposits without asking anything if some origins of them are not valid for them? Why there are only issues for withdrawing those funds?

I agree especially since Stake runs a signature campaign and they pay something like $200 a month to people who post with their signature. That's a fair amount of money and they should assume that people can work this way for other businesses and then spend the money gambling on their platform. It would be pure hypocrisy if they started banning people for gambling with money they earn on this forum.

I saw OP's screenshot and feel like it's still an open case. We'd need to see the conclusion and the answer from their legal department to know what's really up because the support doesn't seem to know what their final decision will be.

I have asked support and they have confirmed that they do not deem any crypto earnings as legal and valid source of income apart from income made through mining.

You can use one of the following documents to verify your source of funds:

    Salary ( You will need to send us a recent bank statement indicating receipt of your salary or original of your payslip )

    Sales of shared or other investments / liquidation of investment portfolio / bonds ( You will need to send us a bank statement clearly showing receipt of funds and investment company name or interest on bonds received )

    Sale of property ( You will need to send us a copy of the contract of sale and a bank statement showing the proceeds of the sale )

    Inheritance ( You will need to send us a copy of the deceased's will, and a bank statement showing the received funds, along with your current balance )

    Company sale ( You will need to send us a letter detailing company sale signed by a licensed solicitor or regulated accountant on letter-headed paper )

    A Gift from a family member or close relative ( You will need to send us a donor's letter explaining the reason for the gift and the source of their wealth. Also, we will require certified identification documents from donor )

    Winning the Lottery ( You will need to send us a receipt of winnings and documentation e.g. bank statement showing the origin of the funds initially deposited )

    Divorce settlement ( You will need to send us a divorce settlement agreement and bank statement clearly showing receipt of funds )

    Loan ( You will need to send us an executed copy of the loan agreement and a bank statement showing the received funds along with your current balance )

    Mining ( You will need to send us a ledger of the amount of cryptocurrency mined, as well as a wallet address and transaction hash to which the mined cryptocurrency was delivered )

This is a weird case. It's tough to believe Stake not recognising crypto earnings just like some of the posters above mentioned op which is why proper proof is the only way to clear all of these doubts completely.

If you manage to legitimise your claims, Stake would definitely need to clarify themselves in this case since it's ironic that a crypto casino wouldn't recognise crypto earnings.

I earn my money from trading, selling some services and sometimes airdrops and stake tells me I am invalid

Same with me from Cex.io located in UK,we don't consider earnings from different websites as valid source of income,also I sent them proof of mining and they ignored that too by claiming to not be valid while I sent them,pictures and videos,something which I regret deeply as I invaded my privacy by doing this.

However regarding Stake I have seen people withdraw huge amounts of money in Stake without problems,I know Stake is the top casino at the moment with huge offerings and bonuses and most likely that is why only newbie accounts start threads about having issues with them.

Sales of shared or other investments / liquidation of investment portfolio / bonds

I just found out about this from you, OP. how come crypto casinos don't recognize crypto income as you do?

it will make you uncomfortable if you do not succeed in verifying your claim. funny if what is considered legitimate is only income from mining.
I know this is Stake's policy. but, even the local exchange I use also accepts crypto income like trading. does not intend to further interfere with the rules established by Stake. but it looks like this certainly needs clarification.

Who said he is from UK ?
Also for UK residents they cannot open account at Stake.com.  they can open at another domain stake.co.uk with different regulations.

However  Stake became more strict since the owners made tons of money now all they care about is the legal
Part and the regulations . Aslo since they added the Fiat for deposit or withdrawals  Stake is no more a crypto casino its just a casino that accept crypto

i wonder though, the crypto earning that they themselves make from all the crypto deposits, do they consider themselves to be illegal too?

because they're not mining either.

If it's worth claiming (either fund wise or spite wise) have you checked to see if you can file a tax return and if they'll accept one. From what I've read about proof of earnings for the UK, it looks like the second most document that's used for things like this (the first being letters of proof from a person's employer).

If they start to distrust you, close the account, go somewhere else. I think their rules starting to give you this kind of special attention will lead you to the verification procedure to the next level of complication. Don't mean to go against Stake's policy, to me it's already not very comfortable to bet long term for any casino.

I just found out about this from you, OP. how come crypto casinos don't recognize crypto income as you do?

it will make you uncomfortable if you do not succeed in verifying your claim. funny if what is considered legitimate is only income from mining.
I know this is Stake's policy. but, even the local exchange I use also accepts crypto income like trading. does not intend to further interfere with the rules established by Stake. but it looks like this certainly needs clarification.