Which cryptocurrency casino accept crypto wallet as prove of funds. - page 3.

Nwada001

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Quote from: stompix on September 12, 2024, 10:14:13 AM

Quote from: Nwada001 on September 12, 2024, 10:11:44 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, 10:05:42 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, 10:05:42 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, 02:49:15 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, 10:05:42 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, 10:05:42 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, 11:25:26 AM

Quote from: stompix on September 12, 2024, 10:14:13 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, 01:48:21 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, 10:05:42 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.

MAAManda

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Quote from: Odusko on September 12, 2024, 10:05:42 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've never tried it, but it doesn't seem to be acceptable. And I also doubt any crypto casino accepts that type of verification. Things like this usually have ties to official, legal institutions, so it's impossible for any crypto casino to agree to them. Remember that the goal is verification for legal & other purposes in the future, how can transaction records in the wallet become concrete evidence later?

Upgrade00

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Quote from: Odusko on September 12, 2024, 10:05:42 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 will need to ask the support of the casino you're playing at.

Proof of funds are designed to show you're not laundering money or engaged in other illegal activities. If your proof can show funds that have been held for a period of time and can show consistent inflow to the tune of the amount being staked, it should suffice, but you have to get that answer from the casino.

coolcoinz

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Quote from: ajiz138 on September 12, 2024, 10:44:00 AM

No casino can accept a source of income from your own wallet even if it is with a proven sign message so the casino will not accept this.

The casino will accept your source of income from a legitimate and legal source recognized by an institution such as a bank, so this document is important to the casino, if you only prove from a long transaction I think the casino will reject it.

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?

If it is, it contradicts what others have said about this funds having to be a constant legal income. Does that mean if the money is not constant,, but a one time payment for something you did, for instance fixing your friend's computer, can't this be used to gamble?

As a libertarian, I'm pretty confused when it comes to these stupid rules that make no sense.

salad daging

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Quote from: Pandu Geddon on September 12, 2024, 11:48:45 AM

Quote from: Odusko on September 12, 2024, 10:05:42 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 think it will only explain the actual account ownership. It's like showing a bank statement will only validate the similarity of user data. Not as a validation of the source of funds.
Maybe what is meant is the pay slip that you receive every period from the company where you work. Maybe it is only owned by an employee.

But can forum members here validate the source of funds using a spreadsheet if they join a campaign where the campaign payments are used as a source of funds to bet at the casino?

Yeah like that just to validate the match of existing data as well as the source of funds is important for casinos because they play have a source of funds including that of the salary slips received as a source of income.

I don't think that would be accurate, let alone submitting a signature campaign spreadsheet as the source of income so there is no data match, so I don't think anyone here is trying to do what you said.

Churchillvv

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Quote from: Odusko on September 12, 2024, 10:05:42 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?

No would always be the answer because having an asset in your exchange wallet with your history of transaction doesn't fit in as a legal prove of funds. Since it's not recorded how you get the money you use in acquiring this crypto assets it doesn't qualify to be a prove of funds in an online crypto casino.

Even though crypto is legal tender in country like El Salvador, I don't still think online crypto casinos would even accept your exchange wallet history of transaction as prove of funds either although I'm not from there maybe someone from El Salvador might be able to clear use on this.

BABY SHOES

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The history of bitcoin transactions cannot be used as a source of income for you to submit to the casino, because the casino wants to have real authenticity along with the name that you have done at the first or second level of KYC.

While the transaction history cannot enter the real name even this is not an official document recognized by the regulation and still the casino will ask you for sources of income in the bank including your pay slip.

I'm not sure if anyone has succeeded this way.

Dr.Bitcoin_Strange

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I doubt if there's any crypto casino that is currently requesting for players crypto wallet to serve as a proof for source of fund document. What is most often requested for is a bank account statement and not crypto wallet. If you actually want to upgrade your account to level three and you don't have the required document, then you can ask the casino if they will accept your crypto wallet as a proof and if they accept, then they might guide you on how to do that.

Pandu Geddon

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Quote from: Odusko on September 12, 2024, 10:05:42 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 think it will only explain the actual account ownership. It's like showing a bank statement will only validate the similarity of user data. Not as a validation of the source of funds.
Maybe what is meant is the pay slip that you receive every period from the company where you work. Maybe it is only owned by an employee.

But can forum members here validate the source of funds using a spreadsheet if they join a campaign where the campaign payments are used as a source of funds to bet at the casino?

Charles-Tim

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Quote from: stompix on September 12, 2024, 10:14:13 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.

Topic: Which cryptocurrency casino accept crypto wallet as prove of funds. - page 3. (Read 528 times)