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

MAAManda

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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'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?

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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 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.

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Quote from: ajiz138 on September 12, 2024, 11:44:00 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.

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

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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?

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.

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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.

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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 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?

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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.

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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?

The source of funds would need an origin from which the cryptocurrencies are getting deposited to yout wallet.
Simply providing the wallet transaction won't do any good until it's actually showing the true origin of those funds.
For example: if you are getting paid in bitcoin from then your wallet should show that particular transfer.
Also, if you are receiving funds from an illicit source or if any of your transactions are flagged then you might get in trouble as the source of funds is not genuine.

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I haven’t experienced that, but I have read somewhere that exporting the transaction history could be used. I don’t know how credible that would be because you could get the wallet's history. I think it is better to extract a statement of Account From an exchange and then use it.

If you have a bank account statement, maybe the casino can adjust to your needs. I think it would be easier.

Odusko

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Quote from: Oshosondy on September 12, 2024, 11:11:48 AM

Also you can request for source of fund from your employer. But your statement of account of your bank account should also be able to prove that.

But if you are working in a company that pays with cryptocurrency, you can ask your boss for it or you can send your transaction history. I think someone that earn some money from this forum can provide payment transaction history.

I have been gambling on many crypto casinos, the highest that I have done before was to provide my identity document.

Very well and that is because your kyc level is still at level 2 but once you want to rank up to level 3 KYC you will be asked for source of funds, although the few times that I was asked such question on some local exchange that I use for my p2p transactions, I provided them that I work online and I get paid in Bitcoin, and my account was verified.

So I don't think that such should be a problem with cryptocurrency casinos, because it will be very easy for them to verify the inflow of funds into the wallet and from a particular wallet address.

So for sure we should be cool with that, but still there is still need for us to get the statement of any casinos representative or any Forum member that have gone through such step in the past.

danherbias07

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This is a tough question because it's rare for a gambler to use his cold or hot wallet as proof of funds. We are not in that era just yet.

I think what you can do is test every reputable online gambling site out there if you really want to force this issue. I think a gambler who wants to pass his KYC would rather show some ID and other means as proof of his income and funds than the hassle of maybe or maybe not being accepted through the means of funds from their wallets.
I get where you are going here because I have been in the same problem before but not with a gambling site, it's with our local exchange and all my funds are in cryptocurrencies but still I passed that test.

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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.

AML regulations are not different from crypto, and your crypto wallet would hold as much value as a paysafecard account.

This says it all. As a matter of fact I quickly checked with Livecasino and noticed that they have the same policy similar to stake. Therefore this is going to be consistent among all of the casinos in my estimation. The source of funds must be obvious a crypto wallet as proof of funds will not be able to state clearly the funds in flow. Casinos don't want to be used to fund terrorists organizations indirectly. Here's the quote from Livecasino:

Quote

If we are not able to be assured of either the identity of the customer or the source of funding, the matter can be referred to the management board and service provider for review and final decision.
https://livecasino.io/help-center/help-terms-and-conditions/aml

ajiz138

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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.

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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?

None. All casino use the same format required by AML policy for their KYC. Crypto wallets doesn’t contain your name as proof of ownership meaning it can’t be accepted by regulators as your source of money.

Exchange and banks can be use as proof of income because they do KYC on your account which is the one being acknowledged by AML.

Crypto wallet promotes privacy which means it can’t be used for regulation purposes.

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

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Afaik no? Or rather it shouldn't be in the first place. See what the casino needs isn't a proof that you earn money, what they want is proof that the money you spend on their casino is safe, clean and isn't tied to anything the authorities would deem to be illegal. This involves them in a possible Money laundering scheme and they don't really want that. You can try to connect your identity to the wallet (which is kinda dumb ngl) but they'd have to connect and do multiple checks, which may be prone to mistakes, so they probably still wouldn't accept it.

It's the reason why they only accept paychecks, bank statements and the like so they could easily trade and confirm.

stompix

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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.

AML regulations are not different from crypto, and your crypto wallet would hold as much value as a paysafecard account.

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

Oshosondy

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Also you can request for source of fund from your employer. But your statement of account of your bank account should also be able to prove that.

But if you are working in a company that pays with cryptocurrency, you can ask your boss for it or you can send your transaction history. I think someone that earn some money from this forum can provide payment transaction history.

I have been gambling on many crypto casinos, the highest that I have done before was to provide my identity document.

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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 believe this question can only be answered to a satisfactory level by some casino representatives and also by the casino in question; only they can say if a wallet is acceptable for proof of funds or source of funds.

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.

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