- Withdrawal processing: Payouts are instant, but all withdrawals are reviewed to check for abuse/suspicious activity
What's the difference between payout and withdrawal? I mean, it's instant payout according to you, but for all withdrawals you will review. Seems conflicting to me; then what's the purpose of instant payout? It's getting hard to learn what the payout is, then. Actually, do you have an agent system for payout, like users will pay out to agents, and the agents will pay them local fiat?
But your terms seems have a different condition.
Collect basic information required at account opening to establish a customer risk profile.
Verify user identity and maintain adequate records of identification and verification.
Assess the nature and purpose of the user's relationship with bitsrace.
Where applicable, use third-party identity verification or similar services to enhance reliability of customer data.
So I am wondering why are you asking for KYC when you claimed on the announcement that it's no-KYC platform.
- Responsible gambling: 18+ only. Do not gamble what you cant afford to lose.
Another confliction: you are saying no KYC, but then how do you verify a user is above eighteen? Tell the process identity the underage without verifying KYC?
My concern is about false claims. It doesn't matter whether it's a KYC or non-KYC platform as long as the user has prior notice. It means users could decide whether they would join with you or not. But on the announcement thread, no-KYC and on-site KYC are quite confusing. [/list]
Hey great questions.
1) When you request a withdrawal, I have to approve it. I am sure that almost every casino, if they offer 'instant withdrawals', they still have a payments team review your request, approve it, and then your request is sent to a payment processor who then sends out your payment instantly.
What I mean with my wording is that, after I approve a withdrawal, it's instantly sent for payout. And currently I am reviewing withdrawals fast, so if you initiate a withdrawal, you should see it show up as a pending transaction in your wallet within 10 mins.
2) bitsrace will never ask for KYC nor will we ever enforce it. I am changing that now - it was simply placeholder text.
I hope this clarifies things - let me know if anything else is on your mind
