With crypto casinos now becoming widespread across the internet, the ability to gamble anonymously is more readily available. But, is this something that should be enjoyed or avoided?
When it comes to online anonymity, there is a lot to be said for it. But on the flip side, online casinos do collect player details for some pretty good reasons.
Freedom to gamble
Naturally, one of the most positive features of online anonymity provided by crypto sites is that players get more freedom. They can play completely privately without sharing personal information with the casino.
As payments are made on the blockchain, no one can follow where they are spending or betting their money. There is no paper trail in place via banking apps or eWallets. As such, it’s not possible for anyone to trace these payments. And, these payments are incredibly secure, able to be checked, but with no personal information linked to them.
With anonymity, there is far less stress or concern regarding security for the player. Many players feel more secure not providing any personal or banking details, although this isn’t the case for all players. Of course, this only works if players choose regulated and licensed crypto casinos with responsible gaming protocols in place.
Speedy access to games
Another positive aspect of anonymity on crypto sites according to cryptocasino.ltd is that players can start playing games almost instantly. With a very short sign-up process, typically just a name and email is required, players are able to open their account, make a deposit and begin playing. There’s no time-consuming player verification process to go through, which is what traditional online casinos have in place.
Additionally, with cryptocurrencies, players can make incredibly fast deposits. Cryptocurrencies offer instant deposits, with low to no fees in place. Speed is also impressive when it comes to payouts as well, making crypto and its anonymity popular for all transaction types.
What do verification processes do?
On the flip side, traditional online casinos have strict requirements in place when it comes to security. For these casinos, governing bodies and jurisdictions require casino operators to have verification processes
These verification processes require players to provide a lot of personal information. This includes an ID, such as a passport or a driving license, as well as a bank statement or other document confirming the player’s physical address. Some casinos even require a live selfie to fully show that the player is who they say they are. As such, this can be very time-consuming, especially as it’s often implemented before the first withdrawal, slowing the whole process down.
The reason for these stringent processes is to meet anti-money laundering requirements. By having specific ID requirements and checks, online casinos can protect themselves from fraudulent players. On the other side of the coin, players know that they’re not getting duped either when casinos have such strict regulations in place.
Which is better?
At the end of the day, it’s up to the individual player regarding the level of anonymity they prefer. Some players like the privacy, but a truly anonymous crypto casino will not be properly regulated. This means that players opting for anonymity will sacrifice some levels of security and player protection processes.
Additionally, anonymous crypto casinos come with added issues, such as the fluctuation in the value of crypto. Players may find their bankrolls becoming worth less, or worth a small fortune, much like Vitalik Butarin‘s Ethereum.
Those players who put a lot in store for security, will thus have to accept that they will have to provide personal details. As such, gaming won’t be as private, transactions can be tracked and so on. However, bonus fraud is less prevalent on a licensed site whereas fully anonymous sites are much less likely to offer large bonuses.
Players simply need to weigh up the options and make the final decision for themselves.