[WARNING!] For gamblers using coins.ph - page 8.

Viscore

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Quote from: ryzaadit on September 06, 2021, 04:22:03 AM

Quote from: Kong Hey Pakboy on September 06, 2021, 12:40:21 AM

-snip-

Nope, there is no relationship between "Axie Infinity" and restricted gambling activity.

Is all depends on the regulation and laws of the county exchange operating, some of them cannot take any gambling transaction mosthly for the country who really restricted about gambling maybe on some countries who have idolized religion.

In our country, the only concern of the government is to tax Axie Infinity earners, while gambling is treated differently as it's illegal. So to make it short, gambling is not allowed while Axie Infinity is allowed but everyone has to pay taxes on their income.

ryzaadit

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Quote from: Kong Hey Pakboy on September 06, 2021, 12:40:21 AM

-snip-

Nope, there is no relationship between "Axie Infinity" and restricted gambling activity.

Is all depends on the regulation and laws of the county exchange operating, some of them cannot take any gambling transaction mosthly for the country who really restricted about gambling maybe on some countries who have idolized religion.

Kong Hey Pakboy

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Wow, now they're really trying to monitor people with their greed. I think this move was caused by the recent fame of Axie Infinity that made it under the radar of the tax bureau in my country which is a BS because crypto can't be taxed in any way.

michellee

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Quote from: Japinat on September 05, 2021, 04:47:02 PM

I guess everyone will start using the service of mixers once the restrictions are very high. Gambling is not strictly prohibited in all countries, but once the regulators will start to regulate, then it will be easier for them to track our transactions to the centralized platforms, that's why mixers are very useful for them not to easily trace the flow of transactions.

Hopefully, there will still be a chance for us to use crypto anonymously without using the service of mixers. And even if we should use mixers, that will be the last option for us to avoid the government or regulators tracking people who use crypto to playing gambling.

But I am sure that the government or regulators can not do anything even if they use strict rules for their people. Having internet, especially we have a VPN connection, will still help us be anonymous.

ReiMomo

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Quote from: Japinat on September 05, 2021, 04:47:02 PM

I guess everyone will start using the service of mixers once the restrictions are very high. Gambling is not strictly prohibited in all countries, but once the regulators will start to regulate, then it will be easier for them to track our transactions to the centralized platforms, that's why mixers are very useful for them not to easily trace the flow of transactions.

I did not surprised to see if there is an issue like this as we know from the start that most custodial wallets should avoid using that comes from gambling.
In this case, I would suggest that much better is to read first the TOS and what are those terms that we cant use on their service.
The same as what OP said, dont use your local wallet upon transferring funds, use bitcoin tumblers so that your address that has been used is not linked to where it come from and you can able to transfer into another account.

Japinat

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I guess everyone will start using the service of mixers once the restrictions are very high. Gambling is not strictly prohibited in all countries, but once the regulators will start to regulate, then it will be easier for them to track our transactions to the centralized platforms, that's why mixers are very useful for them not to easily trace the flow of transactions.

Mahanton

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Quote from: mirakal on September 05, 2021, 04:36:29 PM

Quote from: crzy on September 05, 2021, 03:58:52 PM

Quote from: Ranly123 on September 05, 2021, 12:31:25 PM

I am using coins.ph for quite a while now but I haven't tried to use my address on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

As far as I know Binance also restricted, you can’t deposit any crypto that are coming from your gambling activities better to check the ToS of Binance now to avoid any inconvenience. With my gambling activities, I always use Electrum for my withdrawals and coinsph is only for withdrawals in peso, this is way more safe I believe.

I read the TOS of Binance but I could not find in the rules that gambling funds are not allowed.

https://www.binance.com/en/terms

I think only coins.ph are restricting it, they have different regulators so things are different, however, it doesn't mean that the rules still stick forever, we should also expect that in the long run, they maybe add more strict restrictions on using the platform and that includes prohibiting from your Binance wallet in sending and receiving gambling funds.

Wont be a surprising thing if there are really differences which as mentioned it would really be depending on the regulators of each country which we know that it really differs to each other.
On gambling industry there are countries which do allow and there are some which do prohibits it and as a citizen and as you do have agreed with the terms of a certain service
then you should abide the rules given.

mirakal

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Quote from: crzy on September 05, 2021, 03:58:52 PM

Quote from: Ranly123 on September 05, 2021, 12:31:25 PM

I am using coins.ph for quite a while now but I haven't tried to use my address on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

As far as I know Binance also restricted, you can’t deposit any crypto that are coming from your gambling activities better to check the ToS of Binance now to avoid any inconvenience. With my gambling activities, I always use Electrum for my withdrawals and coinsph is only for withdrawals in peso, this is way more safe I believe.

I read the TOS of Binance but I could not find in the rules that gambling funds are not allowed.

https://www.binance.com/en/terms

I think only coins.ph are restricting it, they have different regulators so things are different, however, it doesn't mean that the rules still stick forever, we should also expect that in the long run, they maybe add more strict restrictions on using the platform and that includes prohibiting from your Binance wallet in sending and receiving gambling funds.

ryzaadit

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Quote from: crzy on September 05, 2021, 03:58:52 PM

-snip-

Even binance is restricted.

I once make some experience deposit over thousand $ with XRP to "Binance" they still can credited the balance, however tracking tx on the chain is really hard. The exchange can't really easy to recognize the TX is came from casino unlesh there has some small information like customer name address/memo gambling activity.

crzy

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Quote from: Ranly123 on September 05, 2021, 12:31:25 PM

I am using coins.ph for quite a while now but I haven't tried to use my address on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

As far as I know Binance also restricted, you can’t deposit any crypto that are coming from your gambling activities better to check the ToS of Binance now to avoid any inconvenience. With my gambling activities, I always use Electrum for my withdrawals and coinsph is only for withdrawals in peso, this is way more safe I believe.

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Quote from: ryzaadit on September 05, 2021, 01:36:17 PM

Quote from: blue Snow on September 05, 2021, 12:27:17 AM

-snip-

It depends on the address, In the case of "XRP" currency. The reason why the exchange knows the address is coming from gambling activity because the address is already have a custom name "STAKE" so they are really easy to be recognized.

IMO, even the exchange has a policy they can't accept any fund from gambling activity as long there is no information who mention about gambling activity like the name of the casino or maybe some memo on the chain.

I also presume on this one unless if the said local wallet provider do make out some in depth search on each addresses on where it do came from and its just not surprising that they would really be listing

out to those known gambling sites address but I don't see for it to be that much effective since there are sites do give out dynamic addresses which its really hard to determine if you are really passing
off funds to gambling site.

For people who had been using this wallet then you should be aware on possible problems if you do try to violate.

Oshosondy

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Quote from: ryzaadit on September 05, 2021, 01:36:17 PM

It depends on the address, In the case of "XRP" currency. The reason why the exchange knows the address is coming from gambling activity because the address is already have a custom name "STAKE" so they are really easy to be recognized.

The only addresses that will be difficult to know are noncustodial wallet addresses, if you make use of binance, coinbase or any other exchange to send coin to an exchange, they can track it to the exchange most especially if the address has been used countless numbers of time. I do not know how gambling site work, maybe like those exchanges, this will make it easy to carry out some searches with the help of some sites that will reveal if the address belongs to a gambling site. The best is to use noncustodial wallet, after you send from gambling site to noncustodial wallet, then you can send from noncustodial wallet to the exchange.

ryzaadit

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Quote from: blue Snow on September 05, 2021, 12:27:17 AM

-snip-

It depends on the address, In the case of "XRP" currency. The reason why the exchange knows the address is coming from gambling activity because the address is already have a custom name "STAKE" so they are really easy to be recognized.

IMO, even the exchange has a policy they can't accept any fund from gambling activity as long there is no information who mention about gambling activity like the name of the casino or maybe some memo on the chain.

Ranly123

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Quote from: Distinctin on September 04, 2021, 02:15:26 AM

I tried to send XRP to one of the gambling sites I'm using, but I was prompted with this message.

Therefore I'm suggesting everyone especially from the Filipino community who are constantly transacting from coins.ph to a gambling site/s or vice versa. The BSP is already monitoring us, and if we submit the information and put a gambling site as a recipient, we might be sanction as gambling is illegal in our country and it's part of the TOS of the coins.ph that sending coins to a gambling platform is prohibited.

you may refer to the complete terms of services of coins.ph.

https://site.coins.ph/user-agreement

Quote

Prohibited Uses include transactions or activities related to:
(c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;

I am using coins.ph for quite a while now but I haven't tried to use my address on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

Oasisman

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I have learned from it few years ago and that's kinda something expected from a regulated custodial wallet which happens to be strict in anything you do.
I have read some post before about Coins.ph blocking accounts because it has a gambling related transactions.
That also made me think, you could also be questioned for receiving payments from a gambling related signature campaigns If the campaign uses the funds directly from the gambling website.
So, I guess its safer to use Electrum and other trusted external wallets.

Reatim

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Quote from: JohnBitCo on September 05, 2021, 03:10:34 AM

Quote from: Johnyz on September 04, 2021, 03:33:45 PM

This has been the rule with coinsph ever since, and I’m not using that platform for this mind of activities anymore because there’s a high chance that your account will be freeze if ever. If I’m withdrawing my funds, I go directly on metamask or electrum because CEX are also strict with the gambling money, they also have a warning like this especially on Binance.

If you are living in Philippines then you can use coinsph to store your bitcoins but for gambling you can choose another wallet.
Just don't abandon the coinsph wallet fully just because they do not support the funds generating from the gambling site.

Indeed , separating the availability of your funds is the best action for this prohibiting . Why push things that is not allowable when there are options that we can use safer. unless that person is not aware of the rules as many are not willing to understand terms and Conditions of each gambling sites and its exchange.
follow rules as obligation or risk losing your funds and account because of your own diligence and laziness .

Xinarae*

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Creates trucks for the philippines for transactions and exchanges for gamblers using Coins.ph. That's why gamblers don't choose to gamble on other wallets the coinbase service was good and met with a lot of enthusiasm from users as it gave players a new dose of unfamiliar and unfettered freedom before the twins. The site grew rapidly and sold out a year later prompting other casino operators to look at digital currency to make the site a success.

JohnBitCo

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Quote from: Johnyz on September 04, 2021, 03:33:45 PM

This has been the rule with coinsph ever since, and I’m not using that platform for this mind of activities anymore because there’s a high chance that your account will be freeze if ever. If I’m withdrawing my funds, I go directly on metamask or electrum because CEX are also strict with the gambling money, they also have a warning like this especially on Binance.

If you are living in Philippines then you can use coinsph to store your bitcoins but for gambling you can choose another wallet.
Just don't abandon the coinsph wallet fully just because they do not support the funds generating from the gambling site.

michellee

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Quote from: blue Snow on September 05, 2021, 12:27:17 AM

every gambling site has an address that should be easily detected by a transaction. as far I know, the address marks the name of the gambling site at the end.

From this situation, the user must use a non-custodial wallet like electrum to transfer funds from a gambling site to exchange.

That is the best solution for a gambler so they do not have to face that problem. But I suggest using a multi-wallet with a conversion feature to send and receive the coins because with using multi-wallet, we can convert the coin to another coin and then send it into the exchanges if we want to sell the coins. That will help us to solve the problem without causing the other problems Grin

rodskee

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AFAIK most exchange don't allow sending from exchange to gambling site and vise versa? and besides checking the TOS of coins.ph they have clearly mentioned this for long time of having warning to not use gambling sites from engaging in their wallet because you will face consequences like banning or being frozen account.

Good to know that there is a warning before you got to transact because others will allow you to transact first and then will punish you after so your funds will be on their hands because of your violations.

Quote from: xypos on September 05, 2021, 12:46:24 AM

Thanks for sharing this.

I think that a lot of people are still trying to use centrally controlled wallets to gamble which is definitely not a good policy to take whatsoever.

These people don't realize that like coins.ph, people can, have, and will get suspended and have their transactions tracked by a range of other crypto exchanges. This is including the well known Coinbase service if they affiliate or play on crypto casinos.

Most of them are users in which don't love reading TOS or at least not understanding deeply before proceeding , and this ends with this issues .

Topic: [WARNING!] For gamblers using coins.ph - page 8. (Read 1223 times)