[WARNING!] For gamblers using coins.ph

[Oasisman]

I have learned from it few years ago and that's kinda something expected from a regulated custodial wallet which happens to be strict in anything you do.
I have read some post before about Coins.ph blocking accounts because it has a gambling related transactions.
That also made me think, you could also be questioned for receiving payments from a gambling related signature campaigns If the campaign uses the funds directly from the gambling website.
So, I guess its safer to use Electrum and other trusted external wallets.

[Ranly123]

I tried to send XRP to one of the gambling sites I'm using, but I was prompted with this message.



Therefore I'm suggesting everyone especially from the Filipino community who are constantly transacting from coins.ph to a gambling site/s or vice versa. The BSP is already monitoring us, and if we submit the information and put a gambling site as a recipient, we might be sanction as gambling is illegal in our country and it's part of the TOS of the coins.ph that sending coins to a gambling platform is prohibited.

you may refer to the complete terms of services of coins.ph.

https://site.coins.ph/user-agreement

Prohibited Uses include transactions or activities related to:
(c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;

I am using coins.ph for quite a while now but I haven't tried to use my address  on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

[ryzaadit]

-snip-

It depends on the address, In the case of "XRP" currency. The reason why the exchange knows the address is coming from gambling activity because the address is already have a custom name "STAKE" so they are really easy to be recognized.

IMO, even the exchange has a policy they can't accept any fund from gambling activity as long there is no information who mention about gambling activity like the name of the casino or maybe some memo on the chain.

[Oshosondy]

It depends on the address, In the case of "XRP" currency. The reason why the exchange knows the address is coming from gambling activity because the address is already have a custom name "STAKE" so they are really easy to be recognized.

The only addresses that will be difficult to know are noncustodial wallet addresses, if you make use of binance, coinbase or any other exchange to send coin to an exchange, they can track it to the exchange most especially if the address has been used countless numbers of time. I do not know how gambling site work, maybe like those exchanges, this will make it easy to carry out some searches with the help of some sites that will reveal if the address belongs to a gambling site. The best is to use noncustodial wallet, after you send from gambling site to noncustodial wallet, then you can send from noncustodial wallet to the exchange.

[Lanatsa]

-snip-

It depends on the address, In the case of "XRP" currency. The reason why the exchange knows the address is coming from gambling activity because the address is already have a custom name "STAKE" so they are really easy to be recognized.

IMO, even the exchange has a policy they can't accept any fund from gambling activity as long there is no information who mention about gambling activity like the name of the casino or maybe some memo on the chain.

I also presume on this one unless if the said local wallet provider do make out some in depth search on each addresses on where it do came from and its just not surprising that they would really be listing

out to those known gambling sites address but I don't see for it to be that much effective since there are sites do give out dynamic addresses which its really hard to determine if you are really passing
off funds to gambling site.

For people who had been using this wallet then you should be aware on possible problems if you do try to violate.

[crzy]

I am using coins.ph for quite a while now but I haven't tried to use my address  on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

As far as I know Binance also restricted, you can’t deposit any crypto that are coming from your gambling activities better to check the ToS of Binance now to avoid any inconvenience. With my gambling activities, I always use Electrum for my withdrawals and coinsph is only for withdrawals in peso, this is way more safe I believe.

[ryzaadit]

-snip-

Even binance is restricted.

I once make some experience deposit over thousand $ with XRP to "Binance" they still can credited the balance, however tracking tx on the chain is really hard. The exchange can't really easy to recognize the TX is came from casino unlesh there has some small information like customer name address/memo gambling activity.

[mirakal]

I am using coins.ph for quite a while now but I haven't tried to use my address  on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

As far as I know Binance also restricted, you can’t deposit any crypto that are coming from your gambling activities better to check the ToS of Binance now to avoid any inconvenience. With my gambling activities, I always use Electrum for my withdrawals and coinsph is only for withdrawals in peso, this is way more safe I believe.

I read the TOS of Binance but I could not find in the rules that gambling funds are not allowed.

https://www.binance.com/en/terms

I think only coins.ph are restricting it, they have different regulators so things are different, however, it doesn't mean that the rules still stick forever, we should also expect that in the long run, they maybe add more strict restrictions on using the platform and that includes prohibiting from your Binance wallet in sending and receiving gambling funds.

[Mahanton]

I am using coins.ph for quite a while now but I haven't tried to use my address  on a gambling site. Since there is binance and I trusted the platform, I preferred using it for convenience.

As far as I know Binance also restricted, you can’t deposit any crypto that are coming from your gambling activities better to check the ToS of Binance now to avoid any inconvenience. With my gambling activities, I always use Electrum for my withdrawals and coinsph is only for withdrawals in peso, this is way more safe I believe.

I read the TOS of Binance but I could not find in the rules that gambling funds are not allowed.

https://www.binance.com/en/terms

I think only coins.ph are restricting it, they have different regulators so things are different, however, it doesn't mean that the rules still stick forever, we should also expect that in the long run, they maybe add more strict restrictions on using the platform and that includes prohibiting from your Binance wallet in sending and receiving gambling funds.

Wont be a surprising thing if there are really differences which as mentioned it would really be depending on the regulators of each country which we know that it really differs to each other.
On gambling industry there are countries which do allow and there are some which do prohibits it and as a citizen and as you do have agreed with the terms of a certain service
then you should abide the rules given.

[Japinat]

I guess everyone will start using the service of mixers once the restrictions are very high. Gambling is not strictly prohibited in all countries, but once the regulators will start to regulate, then it will be easier for them to track our transactions to the centralized platforms, that's why mixers are very useful for them not to easily trace the flow of transactions.

[ReiMomo]

I guess everyone will start using the service of mixers once the restrictions are very high. Gambling is not strictly prohibited in all countries, but once the regulators will start to regulate, then it will be easier for them to track our transactions to the centralized platforms, that's why mixers are very useful for them not to easily trace the flow of transactions.

I did not surprised to see if there is an issue like this as we know from the start that most custodial wallets should avoid using that comes from gambling.
In this case, I would suggest that much better is to read first the TOS and what are those terms that we cant use on their service.
The same as what OP said, dont use your local wallet upon transferring funds, use bitcoin tumblers so that your address that has been used is not linked to where it come from and you can able to transfer into another account.

[michellee]

I guess everyone will start using the service of mixers once the restrictions are very high. Gambling is not strictly prohibited in all countries, but once the regulators will start to regulate, then it will be easier for them to track our transactions to the centralized platforms, that's why mixers are very useful for them not to easily trace the flow of transactions.

Hopefully, there will still be a chance for us to use crypto anonymously without using the service of mixers. And even if we should use mixers, that will be the last option for us to avoid the government or regulators tracking people who use crypto to playing gambling.

But I am sure that the government or regulators can not do anything even if they use strict rules for their people. Having internet, especially we have a VPN connection, will still help us be anonymous.

[Kong Hey Pakboy]

Wow, now they're really trying to monitor people with their greed. I think this move was caused by the recent fame of Axie Infinity that made it under the radar of the tax bureau in my country which is a BS because crypto can't be taxed in any way.

[ryzaadit]

-snip-

Nope, there is no relationship between "Axie Infinity" and restricted gambling activity.

Is all depends on the regulation and laws of the county exchange operating, some of them cannot take any gambling transaction mosthly for the country who really restricted about gambling maybe on some countries who have idolized religion.

[Viscore]

-snip-

Nope, there is no relationship between "Axie Infinity" and restricted gambling activity.

Is all depends on the regulation and laws of the county exchange operating, some of them cannot take any gambling transaction mosthly for the country who really restricted about gambling maybe on some countries who have idolized religion.

In our country, the only concern of the government is to tax Axie Infinity earners, while gambling is treated differently as it's illegal. So to make it short, gambling is not allowed while Axie Infinity is allowed but everyone has to pay taxes on their income.

[Betwrong]

Guys, if you don't want troubles you should never withdraw from an exchange to a gambling site and vise versa. It can be allowed today, and tomorrow you'll encounter such a headache during the process, like I did a couple months ago, which I wouldn't wish on anyone. I mean, in the past it was easy, I've done it many times, and I did it in the beginning of this year even, but from my own experience, and from what I read on this forum - don't do it.

[Fredomago]

I have learned from it few years ago and that's kinda something expected from a regulated custodial wallet which happens to be strict in anything you do.
I have read some post before about Coins.ph blocking accounts because it has a gambling related transactions.
That also made me think, you could also be questioned for receiving payments from a gambling related signature campaigns If the campaign uses the funds directly from the gambling website.
So, I guess its safer to use Electrum and other trusted external wallets.

Best to be aware than feeling sorry when the time comes and you are the one who experiencing this same situation, government will detect our transactions using centralized exchange, Coins.ph are registered to our country that's why they needed to comply with all the rules being implemented inside our country.

If you want to secure your asset, better to separate your wallet. Using alternative which you can store your coin with no inference with any government such as Electrum or other trusted wallets are good ways to continue enjoying your gambling activities.

[Yamifoud]

Guys, if you don't want troubles you should never withdraw from an exchange to a gambling site and vise versa. It can be allowed today, and tomorrow you'll encounter such a headache during the process, like I did a couple months ago, which I wouldn't wish on anyone. I mean, in the past it was easy, I've done it many times, and I did it in the beginning of this year even, but from my own experience, and from what I read on this forum - don't do it.

They allow you to do the transaction but that doesn't mean it's allowed under the law, if you are making a violation of the law, eventually they will see it and you will pay the consequences of your mistakes. Just like making a crime, we might not be caught now but that doesn't exempt us from not paying our mistakes today if we get caught in the future.

[Ziskinberg]

I have learned from it few years ago and that's kinda something expected from a regulated custodial wallet which happens to be strict in anything you do.
I have read some post before about Coins.ph blocking accounts because it has a gambling related transactions.
That also made me think, you could also be questioned for receiving payments from a gambling related signature campaigns If the campaign uses the funds directly from the gambling website.
So, I guess its safer to use Electrum and other trusted external wallets.

Best to be aware than feeling sorry when the time comes and you are the one who experiencing this same situation, government will detect our transactions using centralized exchange, Coins.ph are registered to our country that's why they needed to comply with all the rules being implemented inside our country.

If you want to secure your asset, better to separate your wallet. Using alternative which you can store your coin with no inference with any government such as Electrum or other trusted wallets are good ways to continue enjoying your gambling activities.

Good suggestion, we have Electrum wallet, we can use it, and though you have to pay an extra transaction fee it's still okay compared to risking your account that you might not be able to register in the same platform again, and worst if they will confiscate your funds.

The transaction fees now are very cheap, you can send with a fee of less than a dollar, so that should not hurt your wallet.

Just be safe as it's not good if the government will be after you, you have a little chance to win.

[AicecreaME]

I have learned from it few years ago and that's kinda something expected from a regulated custodial wallet which happens to be strict in anything you do.
I have read some post before about Coins.ph blocking accounts because it has a gambling related transactions.
That also made me think, you could also be questioned for receiving payments from a gambling related signature campaigns If the campaign uses the funds directly from the gambling website.
So, I guess its safer to use Electrum and other trusted external wallets.

Best to be aware than feeling sorry when the time comes and you are the one who experiencing this same situation, government will detect our transactions using centralized exchange, Coins.ph are registered to our country that's why they needed to comply with all the rules being implemented inside our country.

If you want to secure your asset, better to separate your wallet. Using alternative which you can store your coin with no inference with any government such as Electrum or other trusted wallets are good ways to continue enjoying your gambling activities.

Good suggestion, we have Electrum wallet, we can use it, and though you have to pay an extra transaction fee it's still okay compared to risking your account that you might not be able to register in the same platform again, and worst if they will confiscate your funds.

The transaction fees now are very cheap, you can send with a fee of less than a dollar, so that should not hurt your wallet.

Just be safe as it's not good if the government will be after you, you have a little chance to win.

Furthermore, using non-custodial wallet is much safer and convenient rather than using a custodial wallet which you are not in control when it comes to your funds. I've already discussed it with coins.ph, if they have an exception (signature campaign) but a gambling based one, and the answer is they don't allow it.

So let's not push our luck on this one. Using electrum is very user friendly especially you could edit the transaction fee (their new feature, I guess) since the old versions didn't have it if I'm not mistaken.