Bitcoin was the first widely accepted and arguably the most popular cryptocurrency. It opened up a whole new technological front for the fintech industry. Advocates of cryptocurrency tout it as a truly democratized currency, while critics call it ‘evil.’
But we are more focused on whether cryptocurrency can let online gamblers indeed be anonymous.
Yes, gamblers can maintain complete anonymity with crypto. Things are a bit more sophisticated than one might expect. To be truly anonymous, you must understand how identity verification works and how some casinos allow players to play without verification.
What are anonymous casinos?
Anonymous casinos are online casinos that allow gamblers to play without any verification process to confirm their identity. These casinos often have no registration process. Hence you do not have to provide an ID to wager.
The problem is that several no verification casinos can still access your ID details through the payment methods you choose. For instance, if you will use a credit card to make deposits, then a no verification casino will access your information through your credit card. Crypto no verification casinos are preferred by gamblers who want complete anonymity. The number of such casinos is rapidly rising. But there is a need for caution for gamblers as many of these casinos can turn out to be scams. The anonymity of cryptocurrencies makes it harder to trace scammers.
How do crypto no verification casinos work?
What makes anonymous bitcoin casinos safe is the technology they use. No government or federal finance authority has jurisdiction over these websites as they do not use fiat currency.
As a gambler, you must understand how crypto no verification casino functions. These sites use blockchain technology to provide complete anonymity to the players.
It will help if you do not confuse gambling websites that offer the Bitcoin (BTC) option to make deposits and withdrawals with anonymous bitcoin gambling sites. The former still collects your data through the verification and registration process. The latter, however, have no verification or registration requirement. Blockchain makes these websites completely anonymous, so you no longer worry about privacy issues.
Simply put focus on these two terminologies
Blockchain-It is a decentralized ledger that enables cryptocurrencies to work. It records transactions, identifies the validity of the transactions, protects the data, and offers failsafe security. Most crypto no verification casinos are built on blockchain.
Decentralized-Another great thing about anonymous casinos is their decentralized structure. It allows users in countries where online gambling is banned from putting wagers. As these casinos are decentralized, there is no government control over them. Due to their decentralized structures, these casinos have no connection with authorities or third parties.
Players always prefer anonymity when gambling online; the crypto no verification casinos offer much-needed privacy. Utilizing the applications of blockchain and currencies like bitcoins and Ethereum, these gambling websites are making absolute anonymity possible. Still, players must be extra cautious when gambling with cryptocurrencies and only make wagers through trusted anonymous casinos.