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How Can Bitcoin Tracking Be Relevant in iGaming?

Yes, all Bitcoin transactions can be traced with the use of Bitcoin tracking software. But how can Bitcoin tracking benefit the iGaming industry?

When Bitcoin first made a buzz, everyone touted it as the anonymous way of transferring money. In fact, anonymity and speed are the two top selling points of Bitcoin and other cryptocurrencies. But over time, companies have created software that makes Bitcoin tracking possible. This changes the playing field as what was once perceived to be completely anonymous is now only pseudo-anonymous.

What is Bitcoin Tracking?

  • Bitcoin tracking is the act of tracing the origin and destination of a transaction made on the Bitcoin network.
  • It requires advanced Bitcoin tracking software provided by selected companies.
  • This practice has helped the authorities determine the perpetrators involved in scams, thefts, and other illegal activities involving Bitcoin.


While Bitcoin tracking is a known practice today, it is not readily available for everyone. The reason is it requires expertise in the field. More importantly, it does raise privacy concerns among Bitcoin holders, especially those who are not involved in any criminal activities.

As a result, this practice is only necessary for regulating the transactions, more specifically assisting the authorities in acquiring the necessary information they need to solve crypto-related crimes.

Top Bitcoin Tracking Platforms

Here’s the list of the top three platforms that provide Bitcoin tracking services today. These companies have made huge contributions to the authorities dealing with illegal crypto activities and transactions.

#1 Elliptic

Elliptic is a UK-based company that prides itself on setting the global standard with regard to investigating and detecting cryptocurrency-related and enabled crimes. It aims to make crypto transactions and activities transparent, thereby making them accountable, too. Elliptic is known to be collaborating with the authorities, namely the FBI, IRS, and SEC, among others.

#2 Bitfury Crystal

Crystal is a product of the Bitfury Group’s software team and is distributed by Crystal Blockchain BV based in Amsterdam. It is designed to provide crypto-exchange service companies, banking and financial institutions, and HFT companies with access to transaction history. It also renders services for the law enforncement.

#3 Chainanalysis

Among the pioneers in the AML/KYC software market, Chainanalysis boasts its own investigation suite that functions as a tool for the authorities to battle crypto-related crimes and activities. It also features another product – a compliance software suite – that benefits cryptocurrency platforms to monitor their users. Chainalaysis works with the law enforcement agencies, too, and played a significant role in identifying the two rogue FBI against stealing BTC from a drug market operator’s wallet.

Uses of Bitcoin Tracking in iGaming

The practice of tracking Bitcoin transactions, however, does not benefit only cryptocurrency platforms and law enforcement agencies. In fact, Bitcoin tracking shows potential in the iGaming sector, especially in the blockchain and Bitcoin casino market.

Part of KYC Process

Casino operators can use Bitcoin tracking as a means to fully implement strict KYC processes. They can utilize such software to identify the source and possibly the location of the players in order to ensure that the players are legally allowed to sign up and play casino games.

Transparency in Casino Affiliation

Bitcoin tracking can effectively help Bitcoin casino affiliates identify the regions that contribute more to their revenue. Through this, affiliates can launch better marketing campaigns that focus on markets and regions that have a better potential in generating bigger revenue. At the same time, affiliates can determine which markets to avoid.

Legit with Good Credibility

Through Bitcoin tracking, online casino operators can also ensure players that their Bitcoin casinos are legit and trustworthy. Operators can present the legitimacy of the sources of their crypto funds, guaranteeing players that the casinos will not go rogue anytime.

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These are just some of the ways the iGaming industry can benefit from Bitcoin tracking. If fully explored and employed, Bitcoin tracking may improve the security and transparency of Bitcoin casinos even more.

Want to learn more about Bitcoin tracking? Follow on Twitter for the latest news and developments in crypto and blockchain gaming.


If you’re interested in getting an updated 2020 list of all Bitcoin casino reviews for this market, check out the casino review section.

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