How blockchain gambling is licensed: what you need to know
Operators, when they open a cryptocurrency online casino, often do not know how to act correctly in order to get a license for blockchain gambling. The reason is the controversial attitude of the authorities not only to cryptocurrency, but also to gambling.
Peculiarities of crypto-casinos
Any gambling establishment that works with cryptocurrency can be considered as a bitcoin casino. That said, there are two options:
- Platforms that accept digital money on par with fiat money;
- Sites that only work with cryptocurrency, mostly bitcoin and ether.
Cryptocasino is a promising area, its advantages are obvious:
- decentralization - cryptocurrency is not tied to a bank, so profits cannot be arrested, confiscated;
- data transparency - the player can monitor all changes in the database;
- confidentiality - it is guaranteed by the encryption method;
- trust - mutual verification of the entered data contributes to the reliability of the system;
- security - all transactions carried out in the game are recorded and assigned codes, which can only be changed by the owner.
Due to anonymity, cryptocurrency casinos became popular all over the world, especially in Asian countries, where gambling is prohibited. For example, ether is not controlled by Japanese authorities, which is why Japanese players choose it for betting.
How to choose a country for licensing
To open a casino, you need to determine the country where the company will be registered, cryptolicense will be obtained. There are no specific laws regarding cryptocurrency casinos. Each region has its own peculiarities, views on cryptocurrency and gambling. In countries where gambling is prohibited, cryptocurrency online casino will not be allowed either.
The optimal choice for licensing a cryptocurrency casino is Curacao. Its gaming license is trusted, ensures that the casino complies with the rules and laws of the jurisdiction, and operates within the legal framework.
Advantages of Curacao:
- clear conditions for a gambling license;
- speed of licensing - not longer than a month;
- opportunity to use any cryptocurrency;
- deposits, withdrawals are almost instant, and bitcoins move easily between player and casino wallets;
- the license indicates the reliability of the casino, and players can not worry about the safety of their money;
- access to the European market;
- to engage in gambling, it is enough to get one license, regardless of the type of game.
The peculiarity of the blockchain gambling license of Curacao is that it is issued not by the regulator, but by the owner of the general license (there are four on the island). A company planning to engage in gambling receives a sub-license, which is valid until the expiration of the general license. The general license is renewed every 5 years, there are no problems for its owners, so you can not worry.
How to get a blockchain gambling license in Curacao: instructions
To get a blockchain gambling license, you have to open a company in Curacao. Then - apply to the owner of the general gambling license, presenting the necessary information:
- corporate documents;
- information about the owner, shareholders. Among the prerequisites is the absence of a criminal record;
- domain certificate, which belongs to the company;
- a list of countries where the gambling casino will operate;
- information about servers, game software, which will be used by the company. They are notable for their high reliability;
- agreements with software suppliers;
- certificates that confirm the fairness of the game;
- description of the measures that will be used in the KYC policy.
If everything is in order, the company will receive a license within a month, after which you can start working.
How to get a license for a cryptocurrency casino quickly
To get a blockchain gambling license, contact IT-OFFSHORE experts and we will help you.