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Deposit and withdrawal methods: Bitcoin depositor to which wallet?

Topic created on 23rd Feb. 2025 | Page: 1 of 2 | Answers: 18 | Views: 887
JaCasino1
Visitor

Bitcoin depositor to which wallet?

23rd Feb. 2025, at 07:02 pm CET#1
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If I Deposit BTC in a casino, which address/wallet do I use?
Does the casino have one address that everyone deposits to? But how do they know who is who?
Or do they create an address in your name? Is it a hot or cold wallet?

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Malganes
Top Member

Bitcoin depositor to which wallet?

23rd Feb. 2025, at 10:15 pm CET#2
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JaCasino1 wrote on 23.02.2025 at 19:02: If I Deposit to a casino with BTC, which address/wallet does it go to?
Does the casino have an address that everyone deposits to? But then how do they know who is who?
Or do they create an address in your name? Is it a hot or cold wallet?

Maybe you could describe your question a little more, then I/we could answer it better? First of all, it's better to deposit into a casino with Litecoin than with Bitcoin, because the fees are not as high. Which Provider do you use to deposit into the casino? Coinbase etc.?


Each casino has its own wallet address. Whether this address belongs to a hot or a cold wallet is not clear to my knowledge. When you deposit in a casino, the casino receives your crypto address if you deposit with Litecoin, for example, and the casino can therefore assign your Litecoin address to your account, or have I misunderstood your question?

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danny005
Elite

Bitcoin depositor to which wallet?

23rd Feb. 2025, at 10:19 pm CET#3
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Each BTC or LTC crypto address displayed in a casino is specific to your account.

The situation is different with XRP, for example, where you have to send a memo. This numerical number is then used for internal allocation.

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JaCasino1
Visitor

Bitcoin depositor to which wallet?

24th Feb. 2025, at 12:24 am CET#4
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Malganes wrote on February 23rd, 2025 at 10:15 pm:

Maybe you could describe/describe your question a bit more, then I/we could answer it better? First of all, you should Deposit with Litecoin rather than Bitcoin in a casino, because the fees are not as high. Which Provider do you use to deposit into the casino? Coinbase etc.?


Each casino has its own wallet address. Whether this address belongs to a hot wallet or a cold wallet is not clear to my knowledge. When you deposit in a casino, this casino receives your crypto address if you deposit with Litecoin, for example, and thus the casino can assign your Litecoin address to your account, or have I misunderstood your question?
Malganes wrote on 23.02.2025 at 22:15:

Maybe you could paraphrase/describe your question a bit more, then I/we could answer it better? First of all, you should deposit with Litecoin rather than Bitcoin in a casino, because the fees are not as high. Which provider do you use to deposit into the casino? Coinbase etc.?


Each casino has its own wallet address. Whether this address belongs to a hot or a cold wallet is not clear to my knowledge. When you deposit in a casino, the casino receives your crypto address if you deposit with Litecoin, for example, and the casino can therefore assign your Litecoin address to your account, or have I misunderstood your question?


But the depositor is separate. I copy out the address and do the rest independently in the app? How does the casino know it's me? I tried it once and didn't send the exact amount, but sometimes a little more and sometimes a little less and it still worked.

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JaCasino1
Visitor

Bitcoin depositor to which wallet?

24th Feb. 2025, at 12:42 am CET#5
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danny005 wrote on 23.02.2025 at 22:19: Every displayed BTC or LTC crypto address in a casino is specific to your account.

The situation is different with XRP, for example, where you have to send a memo. This numerical number is then used for internal allocation.

So the amount I enter at the casino that I want to Deposit is completely irrelevant, because only what arrives at this personal address is loaded anyway?

But in whose name is it in? Assuming it is not an offline wallet.
They cannot and must not simply create a wallet in my name.

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BigAl87
Experienced

Bitcoin depositor to which wallet?

24th Feb. 2025, at 01:35 am CET#6
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JaCasino1 wrote on 02/24/2025 00:42:

So the amount I enter at the casino that I want to Deposit is completely irrelevant, because only what arrives at this personal address is loaded anyway?

But in whose name is it in? Provided it is not an offline wallet.
They cannot and must not simply create a wallet in my name.

It's just a Bitcoin address that is linked to your casino account. This is actually completely anonymous as it belongs to the casino. You pay an amount to the address and you receive game credits for the coins.
At the casino, every player has their "own" Bitcoin address. You simply send your coins to this address. When depositing, you should not fall below the minimum amount specified by the casino.

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JaCasino1
Visitor

Bitcoin depositor to which wallet?

24th Feb. 2025, at 04:21 am CET#7
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BigAl87 wrote on 24.02.2025 at 01:35:
It's just a Bitcoin address that is linked to your casino account. This is actually completely anonymous as it belongs to the casino. You pay an amount to the address and you get game credits for the coins.
At the casino, every player has their "own" Bitcoin address. You simply send your coins to this address. When depositing, you should not fall below the minimum amount specified by the casino.

Thanks for the information

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danny005
Elite

Bitcoin depositor to which wallet?

24th Feb. 2025, at 11:59 pm CET#8
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JaCasino1 wrote on 02/24/2025 00:42:

So the amount I enter at the casino that I want to Deposit is completely irrelevant, because only what arrives at this personal address is loaded anyway?

But in whose name is it in? Provided it is not an offline wallet.
They cannot and must not simply create a wallet in my name.

I believe that providers such as Coinspaid must receive the exact amount, otherwise the crypto depositor will not be automatically credited.


The wallet is not in anyone's name. You can easily generate a new wallet address at the touch of a button, which is always anonymous at first.

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MisterL
Expert

Bitcoin depositor to which wallet?

26th Feb. 2025, at 12:10 pm CET#9
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sent 400,- to coinbase, now they want proof of origin

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gamble1
Icon

Bitcoin depositor to which wallet?

26th Feb. 2025, at 01:13 pm CET#10
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MisterL wrote on 26.02.2025 at 12:10: have sent 400,- to coinbase, now they want proof of origin

I think you're confusing something. According to the new EU laws, you only have to provide information when you send or receive money. If the money comes from yourself and another wallet, you can just click "Self Exclusion Wallet" - then your name and country will be filled in automatically.

Important: This must be done for every transaction that enters or leaves Coinbase. The purpose is to collect data to make the flow of money traceable at all times.

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Malganes
Top Member

Bitcoin depositor to which wallet?

26th Feb. 2025, at 03:14 pm CET#11
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MisterL wrote on 26.02.2025 at 12:10: have sent 400,- to coinbase, now they want proof of origin

I don't understand why you're still using Coinbase anyway? I think you use Ledger? And I also don't understand why some people still use Coinbase when there are plenty of other options? I wouldn't want to, because of proof of origin and all the other blah blah blah...

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frapi07
Elite

Bitcoin depositor to which wallet?

26th Feb. 2025, at 03:42 pm CET#12
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Malganes wrote on February 26th, 2025 at 3:14 pm:

I don't understand why you're still using Coinbase anyway? I think you use Ledger? And I also don't understand why some people still use Coinbase when there are plenty of other options? I wouldn't want to, because of proof of origin and all the other blah blah blah...

Binance didn't ask for anything when I deposited almost 10k. I don't know if that's normal for them, but I was a bit afraid that they would ask for it too.

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gamble1
Icon

Bitcoin depositor to which wallet?

26th Feb. 2025, at 05:50 pm CET#13
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frapi07 wrote on February 26th, 2025 at 3:42 pm:

Binance didn't ask for anything when I deposited almost 10k. I don't know if that's normal for them, but I was also a little afraid that they would charge the same.

Still to come, I think the transition period is still running. Coinbase already added it in the last update, but it's more annoying than anything else. I have to say that I have now switched Trust between all transactions, simply because I don't want to enter the name in "Who owns this wallet?" for every online store and can simply click that the wallet belongs to me.

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frapi07
Elite

Bitcoin depositor to which wallet?

26th Feb. 2025, at 06:07 pm CET#14
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gamble1 wrote on February 26th, 2025 at 5:50 pm:

Still to come, I think the transition period is currently still running. Coinbase already added it in the last update, but it's more annoying than anything else. I have to say that I have now switched Trust between all transactions, simply because I don't want to enter the name in "Who owns this wallet?" for every online store and can simply click that the wallet belongs to me.

Good to know. Do you know whether something happens if you enter the casino as the origin?

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gamble1
Icon

Bitcoin depositor to which wallet?

26th Feb. 2025, at 06:16 pm CET#15
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frapi07 wrote on 02/26/2025 18:07:

Good to know. Do you know if something happens if you enter the casino in the origin?

I don't think so, as far as I know it's only about the theoretical traceability, if it should be necessary, e.g. in connection with money laundering or terrorist financing. If it is a German stock exchange, the situation may of course be different.

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