Understanding the Levels of Anonymity at Bitcoin Casinos

Anonymity is a big selling point for Bitcoin casinos because y encourage players to game without burden of exposing ir identity. While this option is not available for fiat casinos, Bitcoin casinos have me it a seamless process, so y are slowly gaining market share in industry. Anonymity is offered at varying levels based on activity players perform at a Bitcoin Casino. In this guide, we will highlight some of s of anonymity provided by Bitcoin casinos and how se protect identity of users. Without furr o, let’s get right into it!

s of Anonymity used by Bitcoin Casinos

Privacy is a big factor that limits participation of players at online casinos. When players gamble at a no KYC Bitcoin Casino, ir identities are not required to game or process transactions. In dition, design of blockchain makes it possible for Bitcoin casinos to provide anonymous services without breaking law. refore, players are legally able to gamble in se casinos without fear of repercussions from law. Here are 5 s of anonymity used at Bitcoin casinos.

Confidential Transactions

This is a process Bitcoin casinos use to anonymize identity of users making a transaction. Multiple user transactions are bundled into one group. This makes it impossible for prying eyes to determine what transactions come from whom. All members of group are chosen randomly from blockchain which furr obscures identity of user. Although it is possible to determine if a transaction was me from a group, it is impossible to tell what specific user from within group is responsible. This is great for all users at a Bitcoin casino, especially whales who move large amounts of funds.

dress Shielding

dress shielding is act of protecting originating dress of a transaction. While shielding this dress, blockchain can verify transaction without revealing details about wallet dress or its transactions. Sharing any personal information about transaction such as sending dress and transaction amount is entirely dependent on user. refore, this places security of each transaction in hands of user. This improves trust between Bitcoin casinos and players as y know ir identities will remain protected due to power of blockchain.

Token Mixers

se mixers take in deposits from different users and place m into same pot n it completes all transactions from pot. This mixing or co-mingling of funds makes it hard for anyone to follow transaction on blockchain. By mixing transaction in a process called tumbling, origination of funds is obscured. refore, sender and recipient of any funds sent using this method are protected from prying eyes. Some mixers hide deposits by splitting transactions into smaller amounts to thousands of dresses before sending m back to intended destination. This works for players who are trying to protect ir identity during gambling.

HD Wallets

HD Wallets protect users at wallet level by spinning up a new wallet each time you perform a new transaction. This reduces dependence on a single dress for each transaction and limits ability of anyone to link multiple transactions to your wallet dress. design of wallet allows users to create an infinite amount of disposable dresses from a single source without betraying identity of user. se wallets have improved privacy standards in casino space as y are cheap to maintain and do not require financial commitments from user or operator.

Stealth dress

Stealth dresses are opposite of HD wallets. se dresses are generated each time a user receives a cryptocurrency deposit. This is great for players who want to receive payouts of ir winnings without exposing identity of recipient. This is great for users who would like to maintain ir anonymity when y receive huge wins from casino. system relies on a network of interconnected public and private keys which only obscure identity of recipient. downside of this anonymity protection is that amount being transferred is not hidden.