How can I verify a hosted wallet address from an exchange or provider?
Summary
If you're withdrawing crypto from Bitvavo to an exchange (or other hosted wallet), or depositing crypto from a hosted wallet to Bitvavo, you may be asked to verify the wallet address and its source. This article explains how to do that, including step-by-step instructions for both withdrawals and deposits.
To meet the Travel Rule requirements, Bitvavo must collect information about the parties involved in crypto transactions. This applies when you send or receive crypto to or from a hosted wallet — like an exchange (e.g., Binance or Kraken) or a third-party custody provider.
Depending on your situation, you will need to verify the hosted wallet address during the deposit or withdrawal process.
How do I verify a hosted wallet address when withdrawing?
When sending crypto from your Bitvavo account to a hosted wallet, you'll need to add the destination address to your address book and provide details about the wallet provider.
- Open the Bitvavo app.
- Tap the profile icon in the top-right corner.
- Tap "Address book".
- Tap "Add address".
- Enter the wallet address and give it a recognizable name.
- Under "Wallet type", select "Exchange or other provider".
- Search for the provider in the list and select it.
- Tap "Confirm".
- Log in to your Bitvavo account.
- Click your name in the top-right corner and go to "Address book".
- Click "Add address".
- Enter the wallet address and assign a name to it.
- Under "Wallet type", select "Exchange or other provider".
- Search and select the correct provider from the list.
- Click "Confirm".
How do I verify a hosted wallet when depositing?
When depositing crypto from a hosted wallet to your Bitvavo account, you may be asked to indicate where the funds are coming from after the deposit has been made.
- After the deposit is completed, click "Provide more information".
- Under "Wallet type", choose "Exchange or other provider".
- Search for and select the provider you're depositing from.
Why is this necessary?
To comply with European financial regulations under the Travel Rule, Bitvavo must verify wallet ownership when crypto is sent to or received from a hosted wallet. This helps prevent fraud, ensures transparency, and keeps your account safe. Your information is handled confidentially.
FAQ
Why do I need to verify the wallet provider?
This is required by the Travel Rule. It ensures that both the sender and receiver in a crypto transaction involving a hosted wallet are correctly identified.
What if the exchange or wallet provider is not listed?
If your provider is not available in the list, you won’t be able to use that wallet address for withdrawals. For deposits, the deposit will be rejected if the service provider is not listed. In that case, contact Support to request a refund.
Do I need to do this for every transaction?
No. For withdrawals, once a wallet is verified and added to your address book, you can use it again. For deposits, you may only need to confirm the provider once unless regulations change.
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