Topic: Which cryptocurrency casino accept crypto wallet as prove of funds. - page 2. (Read 528 times)

Using a digital wallet as evidence of assets can be relatively problematic for the KYC verification. However, it is being used increasingly in crypto casinos. Most online casinos that allow cryptocurrencies will have no problem accepting wallet history as additional documentation. That applies especially when you maintain a clean and consistent record of your wallet history. The history of transactions over time can ensure consistent and legitimate activity of operations. You can add further verification by signing messages from your wallet. That way you'll be assured of controlling your wallet besides having peace of mind against fraud.

However, all casinos have their policies on the matter of KYC and funding sources. So, although some may accept cryptowallets, in some places, traditional verification is still required, for instance, a bank statement. It is advisable to check directly with the sponsor casino or with the details of KYC guidelines if one plans to use a digital wallet. Provide other documents that include an especially signed statement and description of the large business. That may help you explain wealth abuse.

On their part, as changes in cryptocurrency regulations are done, the casinos will change their requirements on KYC to fit into these changes. This way, being updated on all these changes will help you prepare for tests approaching. Generally, though you can use crypto wallets as proof of assets, final acceptance depends on casino policies. Have you found any of the casinos to be more relaxed with their KYC requirements on cryptocurrencies?



You do have a point here. However, most of the old casinos still like to deal with traditional and conventional documentation, such as bank statements. pay stub, etc, for KYC verification purposes. As those measures have remained in place for an eternity. Still, the cryptocurrency landscape continues to evolve. So naturally, casinos and other online gaming platforms shall keep up with the changing cryptocurrency landscape and acknowledge digital wallets as true proofs of wealth, as well.

Not only does that ease the testing process. They help the players use cryptocurrencies as well. It also makes it more accessible from the very beginning. It would take one huge leap for the industry. The mainstream crypto adoption actually plays in line with this aspect since more players accept digital currencies. Hopefully, we'll see the days when a casino accepts cryptocurrency standards in its KYC processes more often.

Do you think you come across more advanced casinos in terms of acceptance of technology? KYC requirements have been a lot stricter lately.

Never heard one so far, most the casino I know does not accept crypto wallet as a proof of funds for the KYC verification purpose.
Most casinos will ask bank statement, saving account/investment, pay slips etc which is mostly about printed documents that shows our name, address, or other our personal information.
But your question is interesting and maybe crypto casino may consider it as one of the proof of funds, because it will be something great if it is possible.
Logically crypto casino should also accept crypto wallet as proof of fund, just my 2 cents.

This is the second time I have seen a similar question on the forum, but sincerely if I operate a centralised company, I will not accept your crypto proof of statement, this can surely be doctored/arranged in your favour. If you would agree with me, it doesn't state where (companies/deals) your funds originated from and for what purposes are the funds, so it has nothing meaningful to offer the verifying party. But a bank statement/financial card statement has all that, which makes it better.

It's even good if your source of funds is trading/investment, you can message your brokers for such and it will be delivered to you in the best quality format you want. As you can see, these are all centralised arrangements which is what the casino requires of you.

People don't prepare what it needs when they have been asked by the casino to verify their account. They will do that when the requirement is show up so they will ask for more question to the casino. But for those who can accept the requirement from the casino will follow the rules and will do KYC because they want to keep playing gambling in that casino. They will not use their crypto wallet because they think the casino will not want to accept it so they will use the document that needed.

Yes, care with the money we received is a must because that is our money. But for playing gambling, we are not just care with our money but with identity because the casino can ask our identity anytime.

The casino want to check all about you so with that documents, they can see that you are real person who wants to playing gambling in their casino. You will not want to risks anything by faking your identity because somehow, the casino can know if we cheat them. Asking the bills that is not older than three months show to them that you lived in the same address with your other documents so they can soon verified your account without taking longer. You can get verified account so that can give more benefit to you

But that maybe give difficulty to the casino to check your wallet if you want to use your random or private wallet as the source of funds because in that wallet, there are not much information for the casino. So that is why the casino wants to ask you to send the other documents such as utility bills, salary report, or other things that can proves that you are the same person with your account. The casino wants to checks everything about their members because they don't wants to gets a problem from the government if there are any inspection from the government.

Casinos won't want to go through the stress of verifying the information so they'll prefer you use a reliable source that they can believe that's your income like bank statement. In the future it might be possible that we can use our cryptocurrency wallets to verify our source of income but for now only bank statement will be accepted by casinos. But do casino request for source of funds that frequently because I haven't had that problem. I only get asked to verify my kyc and I can make use of the casino. You must have gambled a large amount of money before the casino will ask for you to verify your source of income. If you have money in cryptocurrency and not money in the bank, you can make withdrawal by selling your cryptocurrency and put it in your bank to be used for the verification and when you're done, you buy back your cryptocurrency, it should be that simple.

The source of income from the bitcoin wallet cannot be matched with your identity data, so it is difficult for the casino to validate that there will be rejected by the casino.

You have a source of income and that can be used as a source of funds, then the identity data and source of funds data from the bank will match, so the casino can validate easily, so that's what the casino applies.

Having read some of these rules from the above casinos, it is true that the source of funds document is more important than the source of the wallet.

Last time I was asked for 4 bills payment or water bills, and this was demanded for as a way to verify my address because the address on the bill will directly reflect your current address and this document can not stand in the place for proof of funds, but in some cases may be that documents like utility bills payment may be asked as source of funds on cryptocurrency casinos since what the casino is after is a means to show that you earn and pay your bills at the right time and that is why when they request for that documents, the Make sure to state that the bills receipt must not be older than three months.
Well having to show some random wallet as prove of funds on online casino for verification may come with a lot of it own ups and downs and for sure it have to go through some level of verification to note which wallet belongs to a gambler at the point of verification and also to checks what are the inflow of fund's in such an account, to see if it a steady specific inflow which should be mark as payment for wages of any form and if possible with a sign message which will clearly make the documents authentic for verification, this could work in some ways and as a matter of fact make the work easier for cryptocurrency casinos, but I don't know how that will sound with some regulators who may also be part of the verification team for AML.

Which casino accept crypto wallet as proof of funds in the first place?

Do you? most people didn't even read the casino terms, so do the bills and salary report. I don't think people really prepare for that except for something important like extend working visa.

I also don't care with my salary report and bills, all I care is the money I received.

We should prepare our salary report to be given to the casino if they asks us to send the document to them. Besides that, casino can ask utility bills as an additional document that we send to them so the casino can check it and verify our account. The casino want to see our source of income from that document and for their record of each members.

So that maybe no casinos will want to see our crypto wallet as a prove of funds because they can think that we can get that image from other places and we use it for our own. The casino want us to show our details identify to cross check everything and make sure that we don't cheat them so it is hard to know if there is a casino that will accept a prove of funds from our crypto wallet which is not have a real name of us and other things.

Why would any casino require a proof of funds? Does the casino think that the gambler is betting laundered or stolen money?
Do you think that providing a crypto wallet with long transaction history proves anything? I think that ID verification should be more than enough for every casino and anything more than that is just the casino trying to find an excuse to block your account and steal your funds.
If a casino ever asks me to provide proof of funds, I would refuse and I would simply stop using that casino. The money in my casino account would most likely be gone forever, but my main rule is to never bet big amounts and never leave big amounts of crypto in your casino account.

That's true because in as much as not all countries has accepted crypto currencies for their legal tenders, there'd be no casino accept it for proof of funds besides there'd be no approved documentary detailing the users personal profiles to back it up.
The casinos would only stick to accept source of incomes from unlimited general accepted sources especially from physical sectors.

You shouldn't be asking us, what is the name of this online casino? Is it available on this forum? Forward this same question to them and wait for their reply, if the casino is crypto friendly more than just payment option I think it is not a bad idea to accept your address as the source of past funds because I have seen one who did the same.

By the way, do you have a problem using your bank account statement? I think this is very easy too, you can download your bank statement through your bank app and it will get sent into your email address in .PDF style, it is a gambling platform though not a centralised exchange so I think you should be fine.

The main goal on the casino end is making sure that the name on your ID is the same on your bank account, this is another reason why they might not accept a crypto wallet address, you have no choice but to follow whatever they ask of you.

Totally depends into their decisions whether they would be getting convinced on the things that you've given in terms about that source of income. In regarding about connecting in between
wallets then it would really be hard not unless if you do make use of centralized platforms on which they could be able to get some information in regarding since its verified but we do know
that income asking kind of situation or verification isnt usually been asked or not at all, or simply into those special cases where it is already that too severe or something in connection with
money laundering. Wallet that would be provided is something in connection into those wallets that are custodial ones. Proving out will be hard since they will really be asking for some
supporting documents on where those funds are coming from, but if you could be able to provide then this is something that not an issue.

If there is no income, how you will spend it and the statements should detail each one. If you collect bank statements for a particular period, you will find that every transaction is recorded thoroughly and you can get detailed information from it. Most casino wallets must provide a transaction history for each user that records every income and expenditure. Yes, there are some casinos that allow users to evade taxes and automatically delete all their transaction history. Through this method, they continue to gamble and evade taxes by hiding their identities.

I have never been in this situation and I believe there is no right answer to this.

It all depends on how much money you have, how old your wallet is and how the casino employees will interpret this proof of income.

Understand that a person may have an old wallet and be a Hodler, or they may have a wallet that is about 2 years old and has regular entries and say that they use it to receive contributions from subscription campaigns here on the forum.
However, in the same way, the old wallet may be a "legacy" from the Silk Road times, and in the same way a wallet with regular entries may be the destination of money from drug or arms trafficking.

Do you understand?
In a bank statement it is easy to identify the origin of the money, but in a cryptographic wallet it is not, so it is difficult to say for sure whether you are trying to launder money or whether you are a good citizen.

Even if provided with the transactions history, I don't think that it will make them belief that it can be a considered source of fund. It's just a wallet, just like what the banks ask, it's an account and what they need to know is about the actual source of funds and not where it is being inside even if there are tons of influx with ins and outs of funds in there, it should be pointed out the main source.

This makes sense, I believe how this casino operates is just like banks also just for regulation. Just like banks where if they ask you to provide a source of income, they can ask you for your pay slip of you have work or some transactions in your trading cryptocurrency exchange (I tried this on only 1 bank in our country).

Actually, this is also a good way but the way you think of it as a "source" using your cryptocurrency wallet does not make sense, even if you prove you own that wallet, their question may lead to where those funds came from?

One thing I would expect you ask first is... How do you present crypto as proof of source of funds if you are asked to because it is still hard for me to caption a possibility of it happening.

But on a little bit, I think it can still be possible even though I can not prove it by accepting the fact that crypto is a universal digital currency with formative assets potentials by which investors and traders who adopts it as source of income could proudly admit it is there source of incomes.

Knowing that each casinos do have their different policies, I believe there are casinos that would accept crypto for proof of funds in a KYC even though I can not prove it. And any casino hopeful to that would depends the user/gambler (s) in concerned to provide their transaction histories and possibly your wallet address in order to access your worth and activeness as claimed while some others that may not accept it could be a case of the casino not trying to contradict the laws based of jurisdictions restricted crypto currencies.

At most times they can't be used as source of funds. Depending on who's taking the case and if it can be considered, the chance is pretty slim. I think the same goes for exchanges, the funny part is that they're crypto companies but they won't consider something like this and it has probably something to do with the regulations that they're also obeying. As much as they want it to be and allow it for each of their customers, they just can't do for most cases. The scenario could change depending on some instances but most likely that they are not going to grant it.

Basically, there are two reasons why crypto wallet transaction history can not be used as proof of funds for a crypto casino, firstly, because it is anonymous and can't be traced to an entity or individual, while secondly, because as a regulated body, they need to work according to the stipulated rules governing gambling in such jurisdiction. Hence, that means of verification is called "KYC" simply because it helps the casino know the gambler much more better, of which if you are to use a transaction statement from a Bitcoin wallet address, it literally will not reveal any information about such individual if his account is reported for alleged fraud, which needs further investigation. So been a regulated body, they will always want to work with only documents that revealed the true identity of an individual.