Withdrawal/Deposit Issues

[robelneo]

It depends on the exchange's TOS. It is not just exchanges even out local wallet doesn't accept withdrawal and deposits from gamblibg sites or your account will be frozen. That is why reading through the TOS is very important if you don't want any problem with your funds or accounts.

Some exchanges do not have this and they only insert it or update it, of course, you can get a notification of the update in their emails but if you have many subscriptions in your email you could miss those important updates, that is why it's important to marked emails coming from exchanges as important emails and do not treat it like a regular email, any changes in your exchanges will have an impact in your transaction, you could be losing hundreds or thousands dollars worth of transactions.

[1715348594]

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[CryptocurencyKing]

There is nothing concerned with terms of service as to where your withdrawal request is to be deposited. No, that shouldn't be. You own your funds, you deposited your fund on there platform and at the initiation of a withdrawal, it ought to be approved and they've got nothing yo loose. Besides, they charge some fees for this transactions.

Again, if we are to look at it from a different perspective, the terms of service might be selective of the kind of address they actually transfer funds to legacy or compatibility or whatever specified address format, thats okay. For ease of withdrawal and all that but, restricting withdrawal just for the fact that, its to a gambling site doesn't isn't very cool for an exchange.

[fullhdpixel]

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

That's right and some exchanges create problems like I have heard such stories about coinbase before I think where users were not allowed to make transactions to gambling sites. It might be because gambling is illegal in your country or something like that.

That is the reason I always use my own wallet for transactions. If I have to move funds from a gambling site to an exchange or vice versa. It's always better to use your own wallet in between and avoid using the exchange itself as a wallet.

Gambling site --> Your wallet --> Exchange that is the best possible solution to avoid this in the future.

[rhomelmabini]

Gambling site --> Your wallet --> Exchange that is the best possible solution to avoid this in the future.

He might be skipping the huge transaction fee by Bitcoin but I think it will get worse if the exchange doesn't hear the explanation thereof. I think I did the same in the past but with a custodial wallet, it haven't got some issue before but when I hear some users are being restricted or questioned about it I simply haven't use the same method anymore.

[michellee]

I do not experience what @OP gets but I hope that it will never happen to me. I think that will depend on how the rule on each exchange or gambling site, but I think they do not have to do that because the user who wants to withdraw can send the funds to any wallet. But we know that the exchange can do anything they want to the deposit that came to their site and block the funds without telling us. Maybe we can send the money to the other wallet and then send it into the wallet.

[fiulpro]

Have any one experienced withdrawal/deposit being stopped by exchanges, just because the amount is getting moved to a gambling site. Recently I made withdrawal from a gambling site to an exchange. After that as I wasn't able to participate in one of the IEO launch I withdrew it back to the gambling site. For days it didn't get transacted. The first transaction automatically got cancelled. The second one was under process, but there is no details about it. Later through the support team came to know about the issue and then I moved the fund to another exchange and from there I deposited back to the gambling site.

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

Well it for sure depends on the type of exchange you are using. Not all will be able to process the funds from a gambling site since there are limits, the government might allow or might not, who knows? That is why you have to make sure that the condition of gambling is more or less satisfactory in your country, especially online gambling. You have to make sure about the exchanges also , read their terms and conditions, if that does not go well then just deposit money to a universal exchange.

I never experienced this since the exchanges I use are more or so established and we'll renown, plus they have no probelms regarding the money coming from gambling sites.

[romero121]

I do not experience what @OP gets but I hope that it will never happen to me. I think that will depend on how the rule on each exchange or gambling site, but I think they do not have to do that because the user who wants to withdraw can send the funds to any wallet. But we know that the exchange can do anything they want to the deposit that came to their site and block the funds without telling us. Maybe we can send the money to the other wallet and then send it into the wallet.

Yes, this is none of the exchanges necessity to keep track where we're sending the funds. This is where mixers play a role, because exchanges can't get track of the details about the wallet from to which the fund is being withdrawn. Gambling is illegal in certain countries, for the same making a clear block of funds on withdrawal is not the right way.

[Viscore]

I never heard of an exchange that does like that, as long as the gambling site is not illegal, then they have no right to stop any transaction from happening. Just read the full TOS mate, maybe you miss something, if it's in the TOS, then there's nothing to complain about, just comply as you have signed up for that.

[acener]

I never heard or know that it is also happening in exchange,
I think I heard a similar story before but it was on mobile wallet but I think it was written on their TOS but I don't really read those and just agree with it.
If I am not mistaken it was someone of my online friend and his account got suspended or freeze because most of the transaction is from a gambling site.
This is why we should really read,understand and respect their TOS so we shouldn't have any problem using their services.

[dimonstration]

I've experienced a similar issue where my exchange account lost all its transaction limits, eventually they reached out to me but they didn't mention the exact reason and I had to check all of my transactions until I found that one old transaction which came from a gambling site. After that experience i've been very careful with my transaction and always assume every exchange have these rules and just like everyone else my solution to this is to use a non custodial wallet. 

On the second exchange you're using you could get away with it now but from here on out you could also be at risk of losing your account if you're not paying attention to the terms and conditions.

Same issue happens in me in my crypto - fiat app were they banned my account and needed to provide documentation for me to get refund of my money via fiat. The issue is due to gambling transactions which is prohibited in their app. It is a exchange wallet registered in our country they only banned my account when I did a bigger transaction but when it's only small at first they didn't mind it until they notice the one which is bigger in value unlike the first one's.

[Fundamentals Of]

This is not a strange story. I have already heard of a similar story or two before. And I guess this is not that controversial because there are indeed some exchanges or centralized and custodial wallets which do not accept direct deposits from gambling sites. I think most of this kind of site indicate this in their TOS. But I cannot understand why. Probably because money coming from gambling sites could be laundered money.

[michellee]

I do not experience what @OP gets but I hope that it will never happen to me. I think that will depend on how the rule on each exchange or gambling site, but I think they do not have to do that because the user who wants to withdraw can send the funds to any wallet. But we know that the exchange can do anything they want to the deposit that came to their site and block the funds without telling us. Maybe we can send the money to the other wallet and then send it into the wallet.

Yes, this is none of the exchanges necessity to keep track where we're sending the funds. This is where mixers play a role, because exchanges can't get track of the details about the wallet from to which the fund is being withdrawn. Gambling is illegal in certain countries, for the same making a clear block of funds on withdrawal is not the right way.

After reading your reply, I just thought about using the mixers to win money from the gambling site. Maybe that can be a solution for a gambler who already won a lot of money so they can send it in to the mixers and send it again into the exchanges. Maybe the exchanges just do not want to get a problem with the deposit money, especially if they know that the money comes from the gambling site.

[molsewid]

This is not a strange story. I have already heard of a similar story or two before. And I guess this is not that controversial because there are indeed some exchanges or centralized and custodial wallets which do not accept direct deposits from gambling sites. I think most of this kind of site indicate this in their TOS. But I cannot understand why. Probably because money coming from gambling sites could be laundered money.

It's true that story like this is very common. I also already heard a story like this a lot of times.  I don't know too what the reasons behind of it or when I tried thinking for possible reason I ended up talking to myself like I ask myself non verbatim "but why?" or "is this possible valid reason". I still don't know until now the reason buy whatever it is for sure for there safety.

[ReiMomo]

It depends on the exchange's TOS. It is not just exchanges even out local wallet doesn't accept withdrawal and deposits from gamblibg sites or your account will be frozen. That is why reading through the TOS is very important if you don't want any problem with your funds or accounts.

Correct, even custodial local wallet didn't allow to relieved fund from gambling sites, I guess because they are heavily regulated, they centralized exchange or gambling that follow that government regulation which is caused by the KYC/AML. Reading TOS or asking help from their staff regarding that matter will help you to avoid freezing funds.

I'm guessing that most centralized exchanges trying to avoid the possible problem in the future, especially if gambling sites are strictly prohibited on their place or gambling site that didn't have a license and didn't regulate by the government.

[worle1bm]

These issues arises sometimes because exchange follow the rules and regulations of their center of registration and if they restrict gambling activities they might block your funds and it is stated in their AML and FAQ policy.This is probably the case with these centralized Excganges but as suggested by other members it's better to use your wallet rather than these Exchanges for gambling deposit and withdrawal is best policy but you can always use mixer in exceptional cases.Gambling funds can be large so you need to take care of it precisely and better be on safe side.

[STT]

An unfortunate restriction on the free exchange of capital and invasion of privacy even, plain old FIAT cash doesn't require some kind of inspection like this so its a poor way to treat customer. 
 Sounds feasible it could be thing though I think its poor that an exchange would try to levy national ideas for gambling on people who may or may not be normally due to pay taxes.   The basic advice has been for years to avoid exchanges when possible for the basic reasoning that depositing at somebody elses companies means you are now totally reliant on them to maintain value and ownership of that deposit which is not the best use of crypto.   I would recommend cashing out if you have to via escrow arrangement not an exchange that require deposits and relinquishing rights.

[Fundamentals Of]

This is not a strange story. I have already heard of a similar story or two before. And I guess this is not that controversial because there are indeed some exchanges or centralized and custodial wallets which do not accept direct deposits from gambling sites. I think most of this kind of site indicate this in their TOS. But I cannot understand why. Probably because money coming from gambling sites could be laundered money.

It's true that story like this is very common. I also already heard a story like this a lot of times.  I don't know too what the reasons behind of it or when I tried thinking for possible reason I ended up talking to myself like I ask myself non verbatim "but why?" or "is this possible valid reason". I still don't know until now the reason buy whatever it is for sure for there safety.

This is not valid. Personally, I think this is unfair. Until now, I think there is still a kind of prejudice against gambling, gamblers, money coming from gambling, etc. This is probably the reason why a lot of exchanges consider deposits coming from gambling sites a red flag. Gambling is one of many exchanges' suspicious sources so they prohibit it. If I am not mistaken, AML also considers gambling funds questionable.

[xSkylarx]

This is why I ask some of my friends that use the same platform if they didn't encounter any issues withdrawing their crypto from a gambling website straight to an exchange. Some exchanges have strict rules that they avoid accepting funds when it is from a gambling website because for a reason that they avoid having money laundering issues in the future. This is the only reason I can think of why some exchanges disable the account of some of their users.

[imstillthebest]

These issues arises sometimes because exchange follow the rules and regulations of their center of registration and if they restrict gambling activities they might block your funds and it is stated in their AML and FAQ policy.This is probably the case with these centralized Excganges but as suggested by other members it's better to use your wallet rather than these Exchanges for gambling deposit and withdrawal is best policy but you can always use mixer in exceptional cases.Gambling funds can be large so you need to take care of it precisely and better be on safe side.

this is why its important for us to read the rules of the platform that we are going to use before its too late and our money will get confiscated but op is lucky that he can still withdrew his funds on that exchange .
 he can withdraw in a wallet or a decentralize exchange if he want to but i guess he directly do it because he want to save a time & fee and as want to particpate in an ieo like he stated  . using mixers could result the same because mixers are also used by money launderers .

[aioc]

Have any one experienced withdrawal/deposit being stopped by exchanges, just because the amount is getting moved to a gambling site. Recently I made withdrawal from a gambling site to an exchange. After that as I wasn't able to participate in one of the IEO launch I withdrew it back to the gambling site. For days it didn't get transacted. The first transaction automatically got cancelled. The second one was under process, but there is no details about it. Later through the support team came to know about the issue and then I moved the fund to another exchange and from there I deposited back to the gambling site.

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

You can contest it if they do not have these rulings on their TOS, if they will accept gambling sites deposit they should also accept gambling site withdrawal, some gambling sites are like this, they like you to always fill your wallet but they try to find fault if you are trying to withdraw your earnings, better leave that gambling site and shift to other sites that have specific rules on this