A topic of conversation for a lot of people who use online casinos is the different types of information that a given operator requires a person to enter when they’re signing up for an account and playing casino games online.

These days, there is a lot of emphasis by regular people on data privacy. That’s why individuals are a lot more aware of who they share their data with and how it is used.

This article will look at the role that know your customer (KYC) verification processes fit into the ever-growing world of online casinos. That’ll allow you to be fully informed about the protocols when you proceed to set up your own account with one of these types of offerings. 

What is Know Your Customer Verification? 

KYC verification is a process that is seen across a lot of different industries. It is particularly an area of focus when it comes to financial services. It is vital that institutions know who they are dealing with when money is involved.

A typical KYC process sees a person having to supply a copy of some photo ID and proof of address. This ensures that they are who they claim to be and that they live in a certain area, and they are of a certain age. It is a way to verify that the provided info is truthful and not made up. 

Why is KYC Verification Necessary? 

People can pretend to be someone they are not, and this can cause all sorts of different issues. Someone who is underage might pretend that they are not to engage in gambling.

Then there are issues with people trying to launder money or help finance terrorism through gambling platforms. Therefore, online casinos usually have some sort of KYC system in place to ensure that they are dealing with legit people. That’s why all leading online casinos will have some sort of KYC system or procedure in place. 

What KYC Documents are Required? 

There are usually only a handful of possible types of documents that you will have to provide as part of a KYC process. These should be accessible to most people, so you shouldn’t run into any issues in this regard. Here is a look at each of the main options: 

Photo ID 

All KYC systems will ensure that you supply some sort of photo ID. This will showcase your full name and age, as well as supply a copy of your image. The typical documents for photo ID will be a driver’s license or a passport. 

Proof of Address 

Another typical aspect of a KYC process will be providing that you live where you say you do. This means supplying an official document that contains your full name and address. Typical ways to prove your address include supplying a bank statement, utility bill, and so on. 

Proof of Funds 

Sometimes you will be asked to verify that the payment method you are using is yours. That could see you having to provide a bank statement to the operator and so on. 

Do Crypto Casinos Need KYC? 

The question that a lot of people will be asking is whether crypto casinos will require KYC. A lot of people understand crypto casinos like to protect the privacy of their users as much as possible it’s one of the basic tenets of using cryptocurrencies. The question has multi-layered answers.

There are some very hardcore types of crypto casinos that you will come across that will not contain any type of KYC process. These platforms will only ask a person you set a username and password when setting up an account. No personal details will be necessary.

KYC will not be in place at these types of platforms. However, crypto casinos of this kind are often better stayed away from as it can be unclear as to who is running the platform and if they are trustworthy or not.

Most regular types of crypto casinos will have some type of KYC process in place. It will be like what you find with regular casino sites. Usually, it will be necessary to comply with the KYC process before you are ever able to make a withdrawal. You will usually be able to deposit funds and play games without doing a KYC.

The typical type of KYC you need to proceed with will be to provide photo ID and some proof of address. A scanned copy of these documents is sufficient and uploading them should take no time at all. Approval will often be instant or within a few hours. It is not a surprise to see a KYC system in place at a crypto casino. 

Pros and Cons of KYC vs Non-KYC Crypto Casinos 

There are going to be different types of pros and cons associated with KYC crypto casinos and the platforms that do not have any sort of process in place. Here is a look at the strengths and drawbacks of both approaches:

Pros of KYC Casinos

·  Usually a sign of reliability

·  Quick approval

·  Stops fraud and crime

·  Further responsible gambling protections

Cons of KYC Casinos

·  Can lead to a delay in withdrawing funds

·  Sometimes further KYC checks needed if using a different withdrawal method

Pros of Non-KYC Casinos

·  More anonymous

·  No delays for withdrawals

·  Allows people to gamble in restricted countries

Cons of Non-Crypto Casinos

·  Could be an untrustworthy platform

·  Allows problem gamblers to bypass exclusion 

Deciding for yourself 

Now that you know a bit more about what KYC processes are in place at crypto casinos, you can decide between different platforms as your needs please. You can find both crypto casinos that don’t have a KYC system in place and those that do. Which option you ultimately go for is up to you.