Are Cryptocurrency Bets Really Anonymous

Jan 02, 2020 at 08:48 // PR
Guest Author

One of the big selling points of using cryptocurrency online is that you don’t have to reveal your true identity if you don’t wish to. This is something that has caught the eye of many gamblers who use cryptocurrency to place their sports bets and to play inside crypto casinos. However, is cryptocurrency betting really anonymous, or can your identity still be traced.

The unfortunate news for those hoping to keep their anonymity while bitcoin betting online is that cryptocurrency bets are not anonymous, and if someone wants to work out who you are then they will more than likely be able to. 

What you are actually using when betting with cryptocurrency is a pseudonym that deals with your transfers into the account, so the bookmaker does not know who you are, other than your pseudonym when they accept the bets. 

However, the bad news for players is that if a bookmaker would like to trace who is behind the pseudonyms then they are able to. This would point to an IP address, which could then be used to find out who you are, where you are from and link together all of the bets that you place with a profile about yourself. 

There may be no need for the bookmaker to ever find this out, so you could remain anonymous when you bet says stakehunters. However, if you are placing big bets or winning on a regular basis then it is likely that the bookmaker will want to know who you are, so they will perform a search to trace you back from your IP address. 

While there is a degree of anonymity when placing your bets with Bitcoin or another cryptocurrency, nothing is watertight, and if the bookmaker wants to find out who you are then they will be able to.

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