Why do I need to submit additional details for my deposit or withdrawal?
Summary
Due to the European Travel Rule, you must confirm that you are the owner of the wallet address you use to send or receive crypto. In this article, we explain why this is necessary and how to submit the required information.
Why do I need to verify the wallet address?
To comply with the European Travel Rule, Bitvavo is required to collect information about the sender and recipient of crypto transactions.
This means:
- You may only send crypto from a wallet that belongs to you.
- You may only receive crypto on Bitvavo from a wallet that belongs to you.
If Bitvavo cannot confirm that the wallet address is yours, we will ask you to provide additional information.
How do I submit additional information for a pending deposit?
If more information is needed, you will see a message in your account saying "We need additional information to process your deposit of X."
Smaller deposits
Follow these steps to verify smaller deposits:
- Open the Bitvavo app or website and log in.
- Click the notification icon (bell) in the top right corner.
- Click the notification about your deposit and choose "Submit".
- Indicate whether you made the deposit, or someone else.
- If it was you, confirm this.
- If someone else made the deposit, indicate that.
- If you made the deposit, it will now be processed.
- If you did not make the deposit, we unfortunately cannot credit it to your account, as it's not allowed to receive crypto on Bitvavo from someone else. In that case, please contact Bitvavo Support.
In most cases, this will be enough for your deposit to be processed.
Larger deposits
Depending on the size of your deposit, you might need to provide more information. Follow these steps:
App
- In the Bitvavo app, tap the bell icon in the top right corner.
- Tap the notification about your pending deposit and tap ‘Submit’.
- Select the type of wallet: 'Exchange' or 'Self-custody wallet' (your own wallet).
- If you select ‘Exchange’, search for and select the platform the crypto was sent from.
- If you select ‘Self-custody wallet’, choose whether to verify via WalletConnect or by uploading an image.
- Complete the verification:
- WalletConnect: Choose the wallet you want to use to verify the address. Open the wallet and follow the steps to complete the verification. This may not be available for all crypto or wallets. In that case, you can verify the address with an image.
- Image: Upload a screenshot from your wallet app that clearly shows the wallet address.
- Once your wallet is verified, your deposit will be processed.
Website
- In your account, click the bell icon in the top right corner.
- Click the notification about your pending deposit and choose ‘Submit’.
- Select the type of wallet: 'Exchange' or 'Self-custody wallet' (your own wallet).
- If you select ‘Exchange’, search for and select the platform the crypto was sent from.
- If you select ‘Self-custody wallet’, choose whether to verify via WalletConnect or by uploading an image.
- Complete the verification:
- WalletConnect: Follow the steps to connect your wallet.
- Image: Upload a screenshot from your wallet app that clearly shows the wallet address.
- Once your wallet is verified, your deposit will be processed.
Frequently asked questions
What happens if I accidentally receive crypto from someone else?
If the crypto comes from a wallet that doesn’t belong to you, we may not be able to process the deposit. Please contact our support team for assistance.
Can I send crypto to a friend or family member?
No. According to the regulations, you may only send crypto to wallets that belong to you. Bitvavo does not support transactions to or from third parties.
How long does it take to verify my wallet?
In most cases, your wallet will be verified within 48 hours. After that, your deposit will be processed automatically.
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