For many online gambling enthusiasts, the ability to make deposits in cryptocurrencies is an important competitive advantage of the gaming platform. To accept crypto gateway without kyc from your clients, you need to connect a crypto wallet for the casino. It is important that the product not only generates unique addresses, but also ensures the privacy of players. In this article, we will tell you what other functions the wallet should have.
Casinos that accept Bitcoin: important parameters for choosing a crypto wallet
We are talking about a business from the high-risk sphere, so the product must meet high security requirements, ensure the confidentiality of use, and also offer sufficient tools for working with cryptocurrency flows coming from different profit centers. Everything in order.
Do you need a KYC check? Only the business owner decides
This is possible when the wallet is software, not a service. When the product is installed on the company’s own server, no one can impose the need for customers to undergo checks. Players value their anonymity, which means they will like the absence of KYC procedures.
In addition, installing software on a server controlled by a business additionally protects its assets; third parties will not be able to interfere with the management of the company’s crypto finances.
The real IP address of the wallet is reliably protected
To make life difficult for anyone who wants to determine the physical location of the server on which the business’s crypto wallet is installed, its real IP address must be hidden. This is not so easy to do, but there are special technologies for protecting the real address, and an online casino, whether it accepts bitcoin, Tronix or some other coins, it is important to find a product for use that implements one of them
For example, the BitHide crypto wallet for business has a unique Dark Wing technology, which is a combination of VPN and Tor. With its help, a three-times changed IP address gets to the public node, making it impossible to find out what the real one was.
User seed phrase
This is a must, only by owning a mnemonic phrase does the user truly own the cryptocurrency. Make sure that you receive it during the installation of the crypto wallet.
There are all the tools for convenient work
It will be difficult to manage financial flows in a crypto casino if the wallet does not have:
- the ability to create multiple sub-wallets and addresses in them;
- mass payments;
- flexible customizable auto-withdrawals;
- built-in AML verification of crypto assets;
- the ability to create and download balance sheets in a convenient format;
- multi-user access with role assignment;
- database encryption;
- API integrations.
Conclusion
A crypto wallet for a casino is a complex tool. The safety of business funds and customer data will depend on how well its developers have taken care of security, reliability and confidentiality. Ease of use is also important, if there are no necessary tools for working with finances, managing them will turn into a constant struggle with confusion.
Please play responsibly. For more information and advice visit https://www.begambleaware.org
Content is not intended for an audience under 18 years of age
