Which cryptocurrency casino accept crypto wallet as prove of funds. - page 2.

Outhue

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

I know many gamblers like myself have been burdering themselves with this vital question of the possibility of using a cryptocurrency wallet, let say ab exchange wallet or a personal hot wallet as prove of fund's, because recently I have been stock in this step of source of funds verification on a number of casino that I intend to carry out my level 3 KYC verification where documents as source of funds are needed.

On few occasions when I get to this step on most fiat online casinos around my country, what I often used as source of funds could range from statement of account from banks.

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

dunfida

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Quote from: alegotardo on September 12, 2024, 10:00:12 PM

Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

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.

laijsica

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Quote from: Ultegra134 on September 12, 2024, 03:25:35 PM

A wallet statement isn't a proof of income; it proves that you're dealing with cryptocurrency and hold a specific balance in your wallet. I highly doubt it's the equivalent of a statement from your workplace; thus, I'm not too confident that any casino would accept it. I don't think anyone here is qualified to provide you with an accurate answer, unless it's from a casino representative; perhaps you should ask one of them; you'll find a few on the forum or the casino itself.

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.

alegotardo

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

passwordnow

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Quote from: GreatArkansas on September 12, 2024, 07:19:38 PM

Quote from: passwordnow on September 12, 2024, 06:53:26 PM

Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

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?

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.

GreatArkansas

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Quote from: passwordnow on September 12, 2024, 06:53:26 PM

Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

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?

EluguHcman

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

passwordnow

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

CryptoHeadlineNews

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

I have been stock in this step of source of funds verification on a number of casino that I intend to carry out my level 3 KYC verification where documents as source of funds are needed.

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

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.

Nwada001

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Quote from: stompix on September 12, 2024, 11:14:13 AM

Quote from: Nwada001 on September 12, 2024, 11:11:44 AM

For example, exchange account history that contains trading and deposit history, if well documented, can be used as a source of funds since there will be a proper record of how trades were carried out, a significant profit was made, and the time frame that it took for that to happen.

So I buy some Bitcoin from an ATM with cash, I send it to Binance, withdraw to my bank, I get a statement and suddenly I'm all ok and all my funds are clean? Grin

lol, I don't mean it in that way though; I was trying to emphasise areas where the person might have a long history of trading, maybe as a as a means of fund; the account could be through debit or credit card, and after that, there have been some series of trades over the years and long-term holdings, which eventually multiplies the person's holdings, and if that's how they obtain their crypto, can't such serve as proof of funds?

Aanuoluwatofunmi

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stead.builders

Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

Here is my take, if you're making this kind of suggestion or asking a question on this regard, then it must have to be a crypto gambling casino which has been established here and chose to remain on the forum, being a well recognized forum casino, they can make use of the wallet as a collateral, while this may not be condoled by other gambling platforms which are outside the forum because they believe on pay before service.

Huppercase

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

I know many gamblers like myself have being burdering themselves with this vital question of the possibility to use cryptocurrency wallet, let say ab exchange wallet or a personal hot wallet as prove of fund's, because recently I have been stock in this step of source of funds verification on a number of casino that I intend to carry out my level 3 KYC verification where documents as source of funds are needed.

On few occasions when I get to this step on most fiat online casinos around my country, what I often used as source of funds could range from statement of account from banks.

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

Depend on the casino and the type of answer you use. I think a casino that supports crypto payments should be able to accept crypto wallet as proof of funds since fiat casino accept bank statement as proof of funds but I think bank statement can be read and show records of transactions but you can't do that with crypto transactions since what you will only see are wallet address and you don't expect them to start tracing how funds where transfer from a wallet to another wallet.

Using crypto wallet as prood of funds also beat privacy. U don't have problem with people that want to do their kyc or reveal their identity but if you submit your crypto wallet to casino because you want to show them your money even put you at risk, your life and where you stay since you already reveal your information. It's not safe to do that unless you don't value your privacy.

aylabadia05

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Quote from: seoincorporation on September 12, 2024, 03:49:15 PM

The prove of funds talks about the source of the money and not about if you have money to play or not. for this you need to share with the casino the evidence of the source of the money, if the money come from a legit source then you will have green light, other way they will tag you as a possible ML risk.

The source could be your Bank account or the contract of your current Job.

There are many different sources of funds, but each casino may have a different list of documents to accept as proof of source of funds. To find out which documents are accepted as proof of source of funds, each customer needs to ask the customer support team, especially at the casinos they use. That is more recommended than asking the community.

Of course, the community can help by providing examples or documents that can be accepted as proof of source of funds at other casinos, for example at stakes casino like the following:

Proof of source of funds: Acceptable documentation

Quote

Bank Statements, Paychecks, Tax Returns, Investment Statements, Gifts, Inheritance, Real Estate, Business Income, Lottery Winnings, Company Sales, Divorce settlements, Loans, Mining

Fortify

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

I know many gamblers like myself have being burdering themselves with this vital question of the possibility to use cryptocurrency wallet, let say ab exchange wallet or a personal hot wallet as prove of fund's, because recently I have been stock in this step of source of funds verification on a number of casino that I intend to carry out my level 3 KYC verification where documents as source of funds are needed.

On few occasions when I get to this step on most fiat online casinos around my country, what I often used as source of funds could range from statement of account from banks.

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

Surely this is casino specific and you can only get an answer by asking them. There may be some casinos which are very loose in what they will accept, because they are based in a country where financial regulators are much more lenient or non-existent even. It's definitely a question that you want to ask early on in the process of choosing a casino or bookmaker, because if you are dumping $20k of crypto on a site with a risk of it being frozen - figure it out up front. If you can prove that the funds started in a wallet from a decade ago, then you could potentially convince some staff that is all the proof you need. It's better to be proactive in this instance than reactive.

Findingnemo

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

You need to understand the term source of funds meaning first then you will understand why you have been stuck with the verification.

Source of funds means how you got that money,

is it via payment for selling your product or service to someone

or is it via salary from your employer or

is it via your inheritance

or is it via selling any of your property,

or is your payment from signature campaign etc.

So when a casino asks for a source of funds then you need to provide details about how you got that money.

stompix

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Blackjack.fun

Quote from: Charles-Tim on September 12, 2024, 12:25:26 PM

Quote from: stompix on September 12, 2024, 11:14:13 AM

Source of funds means the origins of your income, your wallet is the balance sheet!
Stake is pretty clear on this, the source of funds means a document attesting you have received those funds in a lawful way, a simple bank statement that doesn't show deposits which could be labeled as constant payment from being either an employee or a freelancer will not suffice either.

But what about an account which in the statement of account the payments are not labelled but the person is receiving the same amount every week or every month for over a long time. Or maybe later the amount also increased. I think this can be used to convince the person that requested for the source of fund if the payment is weekly or monthly.

Bank statements have usually codes or descriptions, depending on the bank, if they are not labeled in any way and there are no details on the payments the statement will simply be refused as proof. In my personal case, I can't fake a payment with my bank unless I get someone with an LTD or another company to pay me exactly the same amount each month to fake a wage, now...how is he going to explain this to his accountant?

I don't know how it works in other countries but faking income in a bank statement in Europe is a pain in the ass and you won't get away with it, far easier to just fake some rent income or dividends if you really want to dig your hole deeper than needed.

Quote from: coolcoinz on September 12, 2024, 02:48:21 PM

What is a legitimate legal source? If I'm a student and my parents send me money, is that a legitimate source recognized by the bank?

Technically no, and it's not the bank that cares about this, they know the legitimacy of funds, and it's up to you to prove to the casino the transfer of funds is really from your family but if I were in their shoes I would think twice about letting a guy betting with his parents money anyhow.

o48o

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Quote from: Odusko on September 12, 2024, 11:05:42 AM

I know many gamblers like myself have being burdering themselves with this vital question of the possibility to use cryptocurrency wallet, let say ab exchange wallet or a personal hot wallet as prove of fund's, because recently I have been stock in this step of source of funds verification on a number of casino that I intend to carry out my level 3 KYC verification where documents as source of funds are needed.

On few occasions when I get to this step on most fiat online casinos around my country, what I often used as source of funds could range from statement of account from banks.

My question is can we use crypto wallet with long history of transactions and possibly a sign message be used as source of funds requirements for online crypto casinos?

What they need is a proof of source of funds, meaning they want the origin about how they got into that wallet. The fact that they were on your crypto wallet isn't proof of funds, as it has literally public transaction history you need to explain... so you need to explain the trail, or provide proof from the source. It's called a "travel rule", implemented by FATF. If that crypto on your wallet is bought legally with money, just provide proof of that.

Just like when you are depositing large amount physical fiat cash to bank, they want to know the where the money came from, and "from this leather wallet" isn't the answer they are looking for.

seoincorporation

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The prove of funds talks about the source of the money and not about if you have money to play or not. for this you need to share with the casino the evidence of the source of the money, if the money come from a legit source then you will have green light, other way they will tag you as a possible ML risk.

The source could be your Bank account or the contract of your current Job.

Ultegra134

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A wallet statement isn't a proof of income; it proves that you're dealing with cryptocurrency and hold a specific balance in your wallet. I highly doubt it's the equivalent of a statement from your workplace; thus, I'm not too confident that any casino would accept it. I don't think anyone here is qualified to provide you with an accurate answer, unless it's from a casino representative; perhaps you should ask one of them; you'll find a few on the forum or the casino itself.

ryzaadit

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I take the conclusion, that you are not working in RL or the company not giving you slip paycheck.

Maybe tried to ask the casino first? which document they're accepted. The things you are asking is not counted and not gonna to be accept by the casino, probably (If they have the same rules like Stake). Bank Statements or Tax Returns should be can be used as alternative since you don't have a jobs in RL (that's mean, you don't have paycheck slip) or no slip paycheck from company (usually is on third countries).

Try to ask, whats type document alternative they can accept except paycheck.

Topic: Which cryptocurrency casino accept crypto wallet as prove of funds. - page 2. (Read 408 times)