Which cryptocurrency casino accept crypto wallet as prove of funds. - page 4.

pawanjain

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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?

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.

crwth

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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, 10:11:48 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.

Davidvictorson

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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.

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.

Coin_trader

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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?

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.

Wexnident

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

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.

Nwada001

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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 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.

Odusko

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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?

Topic: Which cryptocurrency casino accept crypto wallet as prove of funds. - page 4. (Read 528 times)