How do I generate an income statement from a wallet to satisfy casino KYC?

[Solosanz]

They were probably noting the casino specifically wanting his electrum wallet history lol. Which is in most cases, very weird. It doesn't even help in AML cases since crypto wallets are anonymous, in general at least, and/or can easily be forged unlike paychecks which can be verified from real businesses so I don't think it's even a valid requirement in the first place.

Income statements is normally required yes, specifying an income statement from a wallet isn't.

Crypto wallets aren't anonymous, anyone can see any transactions and address associated. The casino can flag certain wallet that receive coins from address that contained with "dirty coins". If we're use Bitcoin, we can avoid it by using coin control, so we can pick which UTXO to the casino.

Bitcoin didn't even being a legal tender in most of countries, I don't think they will treat Bitcoin like something that being used everyday.

[retreat]

I don't know if this is your own idea or there is a representative of the casino asking you to do it, but your bank account history should be enough as proof of your income source, no need to do such a troublesome thing. But if it is true that a casino representative asks you to do it, they are just bothering you because as far as I know, no casino representative has ever asked a user to generate an income statement from a wallet to complete KYC.

[Findingnemo]

I don't know if this is your own idea or there is a representative of the casino asking you to do it, but your bank account history should be enough as proof of your income source, no need to do such a troublesome thing. But if it is true that a casino representative asks you to do it, they are just bothering you because as far as I know, no casino representative has ever asked a user to generate an income statement from a wallet to complete KYC.

It's actually a thing, it's called source of income and more common in exchanges as well as casinos for AML purposes. And bank transfer might not be enough there might also be need of where it comes from and for example if you make money by working on a company then you might need to submit your salary slip that should suffice but it varies from platforms to platform and casino representative will give proper explanation for all these things as well.

[Fivestar4everMVP]

I don't know if this is your own idea or there is a representative of the casino asking you to do it, but your bank account history should be enough as proof of your income source, no need to do such a troublesome thing. But if it is true that a casino representative asks you to do it, they are just bothering you because as far as I know, no casino representative has ever asked a user to generate an income statement from a wallet to complete KYC.

Exactly the same thing I said in my comment that is a few pages behind.
Though I personally have never gambled and gotten to the stage where I have to provide and income statement for account verification, but having friends who have passed such kyc levels before, I never see any casino ask or accept the transaction history of a wallet as a possible document for income statement verification, one of my friend who earns solely from crypto trading and investment, and airdrop farming was once asked to pass such verification, he went to the blockchain explorer and generated a pdf version of his wallet transaction history, and submitted it to the casino, and the casino rejected it, he later then requested a statement of account from his local bank, and when the statement was available, he submitted that and it was accepted and he got his verification passed.

[Viscore]

I don't know if this is your own idea or there is a representative of the casino asking you to do it, but your bank account history should be enough as proof of your income source, no need to do such a troublesome thing. But if it is true that a casino representative asks you to do it, they are just bothering you because as far as I know, no casino representative has ever asked a user to generate an income statement from a wallet to complete KYC.

It's actually a thing, it's called source of income and more common in exchanges as well as casinos for AML purposes. And bank transfer might not be enough there might also be need of where it comes from and for example if you make money by working on a company then you might need to submit your salary slip that should suffice but it varies from platforms to platform and casino representative will give proper explanation for all these things as well.

I agree with this since not all the money that goes into our account can be classified as income. The amount that enters our bank account is just proof that the money exists. Proof of income is different; it's a document that shows we have a source of income, such as a payslip if we're employed or a business income statement if we run a business.

[SamReomo]

one of my friend who earns solely from crypto trading and investment, and airdrop farming was once asked to pass such verification, he went to the blockchain explorer and generated a pdf version of his wallet transaction history, and submitted it to the casino, and the casino rejected it, he later then requested a statement of account from his local bank, and when the statement was available, he submitted that and it was accepted and he got his verification passed.

Well, that happened because blockchain sites are available for everyone and anyone can easily take print out of transaction history from those explorers. Statements from local banks and also from exchanges, and one's personal wallets might be considered but those that come from block explorers will never be accepted.

Your friend first submitted that blockchain explorer generated statement and it was rejected because of the same reason but when he got bank statement and submitted that one then the casino accepted it as a valid statement and the KYC was completed. Although, such type of statements should not be necessary but some casinos do want those type of statements.

[danherbias07]

I don't know if this is your own idea or there is a representative of the casino asking you to do it, but your bank account history should be enough as proof of your income source, no need to do such a troublesome thing. But if it is true that a casino representative asks you to do it, they are just bothering you because as far as I know, no casino representative has ever asked a user to generate an income statement from a wallet to complete KYC.

Exactly the same thing I said in my comment that is a few pages behind.
Though I personally have never gambled and gotten to the stage where I have to provide and income statement for account verification, but having friends who have passed such kyc levels before, I never see any casino ask or accept the transaction history of a wallet as a possible document for income statement verification, one of my friend who earns solely from crypto trading and investment, and airdrop farming was once asked to pass such verification, he went to the blockchain explorer and generated a pdf version of his wallet transaction history, and submitted it to the casino, and the casino rejected it, he later then requested a statement of account from his local bank, and when the statement was available, he submitted that and it was accepted and he got his verification passed.

This is wrong. All they need is the transaction from one end to another because that is proof that someone is paying him especially if the amount is almost the same over and over again.
But, I may have to agree that a stronger proof is to show them how you are cashing out with your local currency because that way they will have a source on where you are getting the money from.
Well, as long as you have the means and transaction history on how you are getting it done because they will not accept something that is made up as proof will be easier to be proven because of the new technology in this era. They won't even need a week to prove that.

[Fivestar4everMVP]

one of my friend who earns solely from crypto trading and investment, and airdrop farming was once asked to pass such verification, he went to the blockchain explorer and generated a pdf version of his wallet transaction history, and submitted it to the casino, and the casino rejected it, he later then requested a statement of account from his local bank, and when the statement was available, he submitted that and it was accepted and he got his verification passed.

Well, that happened because blockchain sites are available for everyone and anyone can easily take print out of transaction history from those explorers. Statements from local banks and also from exchanges, and one's personal wallets might be considered but those that come from block explorers will never be accepted.

Your friend first submitted that blockchain explorer generated statement and it was rejected because of the same reason but when he got bank statement and submitted that one then the casino accepted it as a valid statement and the KYC was completed. Although, such type of statements should not be necessary but some casinos do want those type of statements.

Yeah, you are absolutely right, though not without some exceptions, but that we will discuss later.

Concerning the last part of your comment, I very much agree with that casinos shouldn't really be asking for such documents for what seems to me as a simple user verification, but then, they do, and I personally think the reason the reason they usually ask for this is three..
1. To make sure the user in question is possibly earning money legitimately and through verifiable means.
2. The number 1 perhaps should cover this, but let me just include it, and that is, to make sure the player is not involved in money laundering and such.
3. This document (depending on which source its coming from) can also serve as a extra measure for the casino to further verify the players address which include country of origin, state where the player lives, and sometimes, even the actual address of the player.

It's too much information for the casinos to ask though, but  I still, they ask and gamblers have no choice but to comply.

[Odusko]

How do I generate an income statement from a electrum wallet to satisfy casino KYC 'source of income'?
Has anyone passed this before?
Thanks in advance

I am not sure if cryptocurrency inflow can stand for proof of funds documents for KYC verification i am sure using your traditional commercial banks statement of account is the most needed and easiest way to go through with such verification, in the few time that I pass through a KYC verification that need me to submit any source of funds I used my bank statement and it did work fine and the KYC was processed for me in no time, I haven't come across any cryptocurrency casinos that demands for me to submit my statement for documentation.

I have gone the highest in kyc when I was asked for my address which I used my utility to verify it that time, but no cryptocurrency casinos ask me to ever submit my banks detail, or being asked to provide any financial statements, although if you don't mind can you mentioned the name of the casino that demanded you to provide your statement of accounts

[$crypto$]

I don't know if this is your own idea or there is a representative of the casino asking you to do it, but your bank account history should be enough as proof of your income source, no need to do such a troublesome thing. But if it is true that a casino representative asks you to do it, they are just bothering you because as far as I know, no casino representative has ever asked a user to generate an income statement from a wallet to complete KYC.

Exactly the same thing I said in my comment that is a few pages behind.
Though I personally have never gambled and gotten to the stage where I have to provide and income statement for account verification, but having friends who have passed such kyc levels before, I never see any casino ask or accept the transaction history of a wallet as a possible document for income statement verification, one of my friend who earns solely from crypto trading and investment, and airdrop farming was once asked to pass such verification, he went to the blockchain explorer and generated a pdf version of his wallet transaction history, and submitted it to the casino, and the casino rejected it, he later then requested a statement of account from his local bank, and when the statement was available, he submitted that and it was accepted and he got his verification passed.

Sources of income provided from bitcoin wallets or through transactions will not be accepted because other platforms will not be able to verify because it is not legitimate income according to them, still it must have your monthly salary slip so that the casino can verify it.

To be honest I have never done KYC to this level, but a few times I have done KYC on other platforms by having to submit bills / sources of income and I did it with local bank transactions and then made a PDF and it was approved in a few minutes, but for casinos I never know.

[darkangel11]

It would be better if you have proof of how you are receiving your salary from your workplace. Or I think a bank statement of account should also be enough as an evidence. I think the transactions on electrum is not enough. Or are you paid in bitcoin in your country? If so, the gambling site customer care will ask you questions about it and they will still need proof from the company you are working from.

That's stupid to be honest. Why would a crypto casino that doesn't accept fiat money want their users to show them bank statement? There's a lot of unbanked people around the world who voluntarily or involuntarily do not use banks. There's a lot of youtubers who made money trading cryptocurrencies and they no longer use banks, just operate 100% on crypto credit cards.
Signing an address to show how much bitcoin you hold should be enough proof how much money you have. What if you're unemployed, but hold a million in bitcoin? Does that mean you have no right to play at a casino because you have no income? I know you won't answer that, but it's just that the stupidity of this rule is striking.

[virasog]

How do I generate an income statement from a electrum wallet to satisfy casino KYC 'source of income'?
Has anyone passed this before?
Thanks in advance

I never come across such KYC verification where they need income proof. You are not opening the bank account where they need you the give the income proof  They are either not willing to approve your KYC or you wanted to gambling with huge amount of money. Level 1 KYC is enough for most gamblers and it will never ask you the funds proof.

Also balance in your Electrum wallet isn't an income proof. It is just to show that you have that much money, Income proofs are usually the salary statements or business profit/loss sheets that show your running income. Bank statements / wallet balances are not income statements.

[dunfida]

How do I generate an income statement from a electrum wallet to satisfy casino KYC 'source of income'?
Has anyone passed this before?
Thanks in advance

I never come across such KYC verification where they need income proof. You are not opening the bank account where they need you the give the income proof  They are either not willing to approve your KYC or you wanted to gambling with huge amount of money. Level 1 KYC is enough for most gamblers and it will never ask you the funds proof.

Also balance in your Electrum wallet isn't an income proof. It is just to show that you have that much money, Income proofs are usually the salary statements or business profit/loss sheets that show your running income. Bank statements / wallet balances are not income statements.

Me neither on which this is my first time encounter or hearing up about income verification in regarding or getting in line with verification on which I do consider out to be too much and really that not common here on crypto space in speaking about verification on which we do really know that when it comes to these things on which it is really that highly frowned upon.Speaking about money laundering then it is really that understandable that they would really be that strict when it comes to this manner on which we know that once you do able to hit up those deposit threshold then this is something that rings up the bell.Somehow if you aren't that doing something stupid,then it would really be just that fine or won't be an issue for you in speaking about verification.Just like on what everyone is saying on here is that these businesses are centralized and regulated and once it triggers out the bell then you would really be needing up to comply.

[Aanuoluwatofunmi]

How do I generate an income statement from a electrum wallet to satisfy casino KYC 'source of income'?
Has anyone passed this before?
Thanks in advance

You can generate your account statement of the crypto wallet you're making use of, i think something related or similar like this have been discussed already on the forum, where users are to be aware that they can also generate their bitcoin statement of account, but the needed means for the verification of the casino is what we should have in mind at most here, if they accept for a crypto statement or account or they only recognizes for fiat alone.