How can I add an external wallet/exchange address to the address book?
Summary
This article explains the steps to add a wallet address to your Bitvavo account and highlights the importance of ensuring the address belongs to you. It also covers network compatibility and how to verify the address to prevent the loss of funds.
Before adding an address to the address book, you will need to enable crypto withdrawals. Instructions on how to enable crypto withdrawals can be found in this support article.
Instructions on adding an address to the address book
App
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Log in:
- Open the Bitvavo app, log in with your details, and tap the profile icon in the top-right corner.
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Navigate to the address book:
- From the menu, select Address book.
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Add a new address:
- Choose Add new address at the bottom and select the asset you want to withdraw.
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Check network compatibility:
- Ensure the address network matches the network supported by Bitvavo for the asset. If the destination wallet or exchange uses a different network, do not send the asset, as this can result in loss of funds.
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Example:
- Bitvavo supports AVAX on the AVAX-C network, while Bitpanda supports it on the AVAX-X network. Thus, transferring AVAX from Bitvavo to Bitpanda is not possible and may result in a loss of funds.
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Enter address details:
- Choose a name and enter the wallet address. Ensure it is your own address, not someone else’s. Transfers to third-party addresses for payments are prohibited.
- You will receive an email to verify the address. Click on the link in the email to verify it. You now added a new address to your address book!
Web
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Log in
- Log in to your Bitvavo account, from the menu on your profile name at the top-right, select 'Security' and go to the 'Address book' tab.
- Log in to your Bitvavo account, from the menu on your profile name at the top-right, select 'Security' and go to the 'Address book' tab.
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Add a new Address:
- Click on the Add address option at the top right, then select the asset you want to withdraw.
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Check network compatibility:
- Verify the network supported by Bitvavo for the asset. If the destination wallet or exchange does not support the asset on the same network, do not send the asset to avoid losing your funds.
Example:
- Bitvavo supports AVAX on the AVAX-C network, while Bitpanda supports it on the AVAX-X network. Therefore, transferring AVAX from Bitvavo to Bitpanda is not possible and may lead to a loss of funds.
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Enter address details:
- Choose a name and enter the wallet address. Ensure it is your own and not a third-party address. Using Bitvavo for payments to others is not permitted.
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Verify the address:
- You will receive an email to verify the address. Click the link in the email to complete verification. Your new address is now added to your address book.
- You will receive an email to verify the address. Click the link in the email to complete verification. Your new address is now added to your address book.
Stablecoins: Why do I need to verify my wallet address again?
Due to MiCA regulations, additional security requirements apply to stablecoin transfers, such as USDC and EURC. You may need to re-confirm existing addresses in your address book to ensure they meet strong customer authentication (SCA) standards.
You can re-confirm an address via your address book or during your next withdrawal:
- Open your address book and select the address marked “Activate email”.
- Review the details and click “Approve”.
- Enter your account password and 2FA code.
- Click the verification link in the email we sent you.
LTC: The address you have entered is invalid
It is not possible to withdraw LTC to a Native SegWit ‘ltc1’ address. Withdrawing LTC can be done to addresses that start with either the letter ‘M’ or the letter ‘L’.
You are able to generate a new wallet address through your external wallet by choosing one of the other address formats, as explained in this article.
BTC: The address you have entered is invalid
It is not possible (yet) to withdraw BTC to a Taproot address. Withdrawing BTC can be done to addresses that support SegWit.
For more information, see this article.
DGB: The address you have entered is invalid
It is not possible to withdraw DGB to a Native SegWit ‘dgb1’ address. Withdrawing DGB can be done to addresses that start with either the letter ‘D’ or the letter ‘S’.
You are able to generate a new wallet address through your external wallet by choosing one of the other address formats.
Why do I need to verify a bank account before I can add an address to the address book?
To add addresses to your address book and withdraw crypto, you first need to enable crypto withdrawals. This requires you to enable 2FA and to make a €1 deposit verifying that you are the owner of the account and that you want to enable crypto withdrawals. More information can be found in this support article.
Do I have to add a memo or tag?
In some cases, yes. It depends on the cryptocurrency you are sending. Certain crypto assets, such as XRP or XLM, require a tag or memo for the transaction to reach the correct destination. You can find a full list of which assets require this in our article What is a tag/memo?.
When adding an address to your address book, you can include a tag or memo if it is needed for that cryptocurrency. If you forgot to add it when creating the entry, remove the address from your address book and add it again, including the required tag or memo.
If you are sending crypto to a wallet you own, for example a Ledger or another personal hardware wallet, a tag or memo is usually not needed, even for cryptocurrencies that normally use them, such as XRP.
When withdrawing to another exchange, a tag or memo is often required so the receiving exchange can assign the funds to your account. Always check the withdrawal instructions provided by the receiving platform before sending your transaction.
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