Topic: why kyc? (Read 11897 times)
In my own personal opinion, online gambling sites or bitcoin casino requires KYC because to lower the risk of money laundering and protects the casinos from fraudulent players, that is why KYC is important to them. Honestly i am one of those players who hates and skips KYC because it is a waste of time for me to fill up the form of KYC and i am afraid to share my identity or information to them that they may use it to illegal activities like scam or fraud, but i still fill up the KYC for me to get all of my winnings. Anyways, I am playing in bitcoin casino that has a lot of casino games that you could enjoy like poker, baccarat, blackjack, roulette, and slots. They also offer great bonuses for new players that you can get 225% on deposits and get up to 1,000 mBTC.
Some websites require users to complete KYC when making large withdrawals because some players may cheat to win. Some people use the platform to launder money and make them legal, so KYC requests required on these platforms. I think these platforms all have reasons and require you to implement KYC.
I think no one can cheat the gambling system and if anyone has won big, it is only because of his luck and maybe some skills too. So there is no point in stopping the big payments and asking for KYC. If you mean to say that someone may hack the system, then he will hack the money too without KYC.
Some websites require users to complete KYC when making large withdrawals because some players may cheat to win. Some people use the platform to launder money and make them legal, so KYC requests required on these platforms. I think these platforms all have reasons and require you to implement KYC.
But some guy is also saying that if they can do it why can't we? If the saying of "Customers Always Right" is what we implement, we should have known from the start that if we get to win Big we should do KYC. Even though I did not experience winning big but the fact that this concerns most of the gamblers out there is disturbing. It should be clarified, transparency is a must or else someone might lose their customers.
Some websites require users to complete KYC when making large withdrawals because some players may cheat to win. Some people use the platform to launder money and make them legal, so KYC requests required on these platforms. I think these platforms all have reasons and require you to implement KYC.
But some guy is also saying that if they can do it why can't we? If the saying of "Customers Always Right" is what we implement, we should have known from the start that if we get to win Big we should do KYC. Even though I did not experience winning big but the fact that this concerns most of the gamblers out there is disturbing. It should be clarified, transparency is a must or else someone might lose their customers.
Some websites require users to complete KYC when making large withdrawals because some players may cheat to win. Some people use the platform to launder money and make them legal, so KYC requests required on these platforms. I think these platforms all have reasons and require you to implement KYC.
There are different opinions on this so play where you feel better and it suits you more.
Exactly, if you are not comfortable then go somewhere else. There are casinos as mentioned by the OP that doesn't require KYC/AML. I personally, don't like submitting personal data myself so I stick to the casino, that I'm been playing that doesn't 'force' me to do verification.
I personally hold nothing against a site that request for kyc, as a matter of fact, I have been gambling on a kyc demanding site for a longtime now and its okay for me, every company have the right to introduce what will make their system safe. As for those who have reasons not to gamble on a site that demands for kyc, there are others they can also gamble on and as well enjoy their game.
I strongly disagree about what you have said, because even if it is a trusted sites, you don't know them personally, and you don't even know what they are going to do with your "personal documents" that you have said, it is just about playing safe in this vast internet world by not giving personal information that fast without thinking what might possibly happen.
The worst thing scenario by giving your legit personal information online is that they could use it on something that is not right, like they are going to use that to pretend as someone to scam somebody, or even worst than that.
No repeated site will use your information to scam anyone or use if for anything negative. Most times gambling sites even ask for KYC is for the compliance of their home country and they can assure that your information is in safe hands. The worst thing scenario by giving your legit personal information online is that they could use it on something that is not right, like they are going to use that to pretend as someone to scam somebody, or even worst than that.
The reason why most of you fear to drop your kyc is because you personally don’t trust yourself. If your hands are clean and you have no fear of committing and offense that might make you get tracked down by the KYC you must have submitted somewhere, then you would have no fear on submitting KYC.
It’s a thing of choice, if you hate to submit kyc, then gamble on site that do not require for, but don’t see those who ask for it as scam.
Although sharing your personal documents with trusted sites might not hurt your personal privacy.
I strongly disagree about what you have said, because even if it is a trusted sites, you don't know them personally, and you don't even know what they are going to do with your "personal documents" that you have said, it is just about playing safe in this vast internet world by not giving personal information that fast without thinking what might possibly happen.
The worst thing scenario by giving your legit personal information online is that they could use it on something that is not right, like they are going to use that to pretend as someone to scam somebody, or even worst than that.
Different in different sites some sites will definitely ask the KYC for any type of transaction because they improved a lot to to get alert about making the mistakes very low in all the situation so we can definitely do something better than before when we are been protected by someone that's it will be welcome from my side.
No contest with your position if you can entrust your personal information for the sake of improvements of site you believe to be legit, but there's also site who don't required any kyc that you can enjoy playing, site where you can bet and go when you feel satisfied after gambling in some games. 
The reason why many crypto casinos want kyc/aml is to fight money laundering.The ones that don't require it are better for people who like privacy and that is better for crypto players because if kyc/aml is asked everywhere why play in crypto when you can play in Fiat casinos.
Right, maybe there are bright side of requiring fully KYC/AML on crypto related casinos.
There are different opinions on this so play where you feel better and it suits you more.
Exactly, if you are not comfortable then go somewhere else. There are casinos as mentioned by the OP that doesn't require KYC/AML. I personally, don't like submitting personal data myself so I stick to the casino, that I'm been playing that doesn't 'force' me to do verification.
The reason why many crypto casinos want kyc/aml is to fight money laundering.The ones that don't require it are better for people who like privacy and that is better for crypto players because if kyc/aml is asked everywhere why play in crypto when you can play in Fiat casinos.
Right, maybe there are bright side of requiring fully KYC/AML on crypto related casinos.
There are different opinions on this so play where you feel better and it suits you more.
Exactly, if you are not comfortable then go somewhere else. There are casinos as mentioned by the OP that doesn't require KYC/AML. I personally, don't like submitting personal data myself so I stick to the casino, that I'm been playing that doesn't 'force' me to do verification.
Different in different sites some sites will definitely ask the KYC for any type of transaction because they improved a lot to to get alert about making the mistakes very low in all the situation so we can definitely do something better than before when we are been protected by someone that's it will be welcome from my side.
The reason why many crypto casinos want kyc/aml is to fight money laundering.The ones that don't require it are better for people who like privacy and that is better for crypto players because if kyc/aml is asked everywhere why play in crypto when you can play in Fiat casinos.
There are different opinions on this so play where you feel better and it suits you more.
There are different opinions on this so play where you feel better and it suits you more.
And it's the people's choice. There are several gambling sites that seems legitimate and don't require kyc. If i'm a big time gambler with lots of money to burn then i'd prefer to be anonymous. For me that makes it safer if my information isn't accessible to other people and that the gambling site doesn't have any credentials about me. With news of traders being tortured and killed, i'd like to keep my identity to myself.
The reason why many crypto casinos want kyc/aml is to fight money laundering.The ones that don't require it are better for people who like privacy and that is better for crypto players because if kyc/aml is asked everywhere why play in crypto when you can play in Fiat casinos.
There are different opinions on this so play where you feel better and it suits you more.
There are different opinions on this so play where you feel better and it suits you more.
Why people worried about gambling site that implemented KYC such as giving them from a safe place. Of course, don't pass your personal identity or KYC if you don't have trust on that site. There are a lot of gambling sites out there that never ask or implemented KYC to avoid on that. Well, that was our expectation too.
I don’t have any problem with sites requesting for KYC but I feel it should be done both at the time of deposit and withdrawal. I don’t see any good reason why a casino site will not request for KYC when am depositing and then start making it a necessity to do so during withdrawal, it sounds fishy and from there, I will discern a good casino.
Like you said, to be sure of a save casino site is what matters, as long as they can be trusted with personal information and that my safety in playing in the site is guaranteed, then No worries at all.
Almost all gambling sites will ask KYC from the user if they find some suspicious activity in their account. Till then i dont think that they will ask KYC when you withdraw. Some site openly ask to fullfill KYC in starting itself so that their should not be any problem in future.
That's one of the purposes of KYC why they require submitting of KYC of the gambler if they want to withdraw. Im happy that when I play to some gambling site thag I win they did not asking me to submit my information because they know that's not want player and maybe once they mandatory kyc to their gambling site they decrease their player.
Almost all gambling sites will ask KYC from the user if they find some suspicious activity in their account. Till then i dont think that they will ask KYC when you withdraw. Some site openly ask to fullfill KYC in starting itself so that their should not be any problem in future.
That defeats the purpose of cryptocurrency if all casino ask KYC to their user, and most people gamble with crypto because of the anonymity it offers, in the future we might see decentralized gambling site,.
Almost all gambling sites will ask KYC from the user if they find some suspicious activity in their account. Till then i dont think that they will ask KYC when you withdraw. Some site openly ask to fullfill KYC in starting itself so that their should not be any problem in future.
In my own opinion gambling website do not need KYC to play gambling. Because people like to hide for gambling. Nobody wants to reveal his identity. So I think there is no requirement of KYC at the Gambling website. And many times a lot of money is won in gambling so if KYC is taken then security decreases. Because then everyone will know who won this big amount. There is a possibility of its Profile Hack. Many do not like KYC.
Thank you
Thank you
Any legit website has to follow AML/KYC rules to prevent money laundering etc. Most websites still have a certain limit that doesn't need KYC so as long as you're not spending too much you don't need to verify.
Jump to: