Reasons Crypto Players Skip Casinos with KYC

[hahay]

There are many reasons why crypto players skip those casinos that requires with KYC. The first one is some casinos that need kyc is very hard to verify and takes a lot of time to do KYC because they need to wait the approval of the casino if their kyc is approved or not, second is because why do really crypto players need kyc in order to just play in casinos? It is not necessary to give them our personal information for us just to play and gamble our money and it would be hard for us crypto players to trust anyone with our personal information. That would be some reasons why many crypto players are denying and don't want casinos that requires a kyc.

Simply when the player don't want to let the site to know who they were gambling on their site is the reason to skip KYC needed sites but the sites may not doing intentionally at some sites because their governments wants it and some governments made illegal to gamble so if there is someone from the restricted place using their site to bypass law will make trouble to the sites.

After all, this is online gambling and in the online world, gamblers are free to gamble on any site that escapes regulations that apply to certain countries if indeed that is the reason some casino gambling sites that apply KYC to comply with existing regulations on their country. Willing to give KYC or not I think it all depends again on the consumers themselves, if some of the gamblers are comfortable with KYC then it doesn't hurt either but most of the gamblers will choose to remain anonymous.

[djsugar]

(SINCE THE TOPIC HAS BEEN ACTIVE HERE ON BITCOINTALK FOR QUITE SOME TIME NOW, I DECIDED TO CREATE AN INFOGRAPHIC ABOUT IT. AND NOW IN THIS UPDATED POST, YOU WILL SEE I ALREADY ATTACHED BELOW THE INFOGRAPHIC FOR EVERYONE'S EASY READING)

“Know your customer,” “know your client,” or simply KYC is a procedure carried out by a business to verify the identity of its potential and existing customers. This is done to avoid putting the business at risk of being used by fraudulent individuals for illegal activities like money-laundering.

Additionally, the procedure is one way of protecting the interest of the customers, usually in case of loss of account or fund forfeiture.
In the online betting industry, all the reputable casinos you know do the KYC in compliance with the gaming-related laws within the jurisdictions they target. They are required to get their players’ personal information like name, age, address, and sometimes banking details. They even ask the players to present copies of their valid IDs just to ensure there will be no fraud.

While some cryptocurrency players find KYC beneficial and well-intentioned, others see it as a menace to online betting. Here's an infographic summarizing why:

SOURCE WITH FULL ARTICLE: 4 Reasons Crypto Players Skip Casinos with KYC


I hope you find this post friendly. Feel free to comment below your thoughts on KYC procedures in crypto-accepting casinos.

Crypto is yet to be identified by many nations across the world and is restricted by many. Most people , at least I can vouch for my network of crypto traders that they prefer to stay anonymous. Also, people stay in dark when dealing with crypto and share that with very few close people (Atleast I am like that). Plus, the hassle with KYC documentation and registration process could be a reason.

[MWesterweele]

Crypto is yet to be identified by many nations across the world and is restricted by many. Most people , at least I can vouch for my network of crypto traders that they prefer to stay anonymous. Also, people stay in dark when dealing with crypto and share that with very few close people (Atleast I am like that). Plus, the hassle with KYC documentation and registration process could be a reason.

Simply because players dont want to know their identity, and since gambling is illegal in other country it is also the reason why many players dont want to be recognize or to know because having KYC in crypto player think it is something done by government which for me this KYC is possible made from government whi want to identify those people whi using crypto