BC Coin Casino Verification

BC Coin Casino Verification

Verification Documents Required for Deposit

If you’re a new player who has yet to embark on his or her first casino adventure, you might have heard that you need to complete something called a ‘verification’ in order to withdraw – which is true! But do you also need to do something similar to just make a simple deposit? Well, although some (very rare) casinos do require documents for deposit, the overwhelming majority of them won’t ask you to do that. Instead, verification will only take place when you initiate your first withdrawal, or earlier if you trigger it manually.

Verification Documents Required for Withdrawal

Online casinos have long been a prime target for money laundering. After all, when a criminal makes money illegally, they can’t exactly use them to pay their rent without answering a few interesting questions in front of tax authorities! But it’s a different matter entirely if the criminal instead deposits them to an online casino (which can easily be done anonymously, for example via crypto) and then withdraws them, claiming them on their taxes as casino winnings. Who would even know?

Well, the casinos would – and that’s precisely why it’s on them to prevent this misuse from happening. They do this via various anti-money laundering regulations, one of which requires players to wager through their entire deposit once before they can withdraw it. The other is the verification procedure, where you need to prove your identity so that the casino can be certain you’re not involved in any criminal activity. This verification is imposed on casinos by the various payment providers they work with, meaning that, if they don’t verify players who deposit with Visa (for instance) then they can’t accept Visa deposits anymore.

But since crypto is decentralized, technically speaking, there’s no law stating that people who deposit via crypto have to have their identities verified. There’s no one to punish a casino that doesn’t do it… and so, BC Coin has chosen to do (or rather, not do) precisely that. If you deposit via crypto, you can skip the verification process altogether. For many players this will be an undeniable boon, maybe even a draw… but long-term, all it’ll do is attract money launderers to BC Coin Casino. And trust us, no one but the criminals would win from that scenario, neither the site nor its regular, honest players.