Crypto withdrawals lock

Crypto withdrawals lock explained

The crypto withdrawals lock allows you to block withdrawals of digital assets on your own account. This safety measure makes it impossible for anyone to initiate crypto withdrawals. This feature allows Bitvavo users to maintain the convenience of trading crypto while increasing the security of their accounts.

This feature is ideal for users who never perform crypto withdrawals or do not plan to do so in the near future. It prevents them from losing their assets due to unauthorized access for example during a hack or scam.

The crypto withdrawal lock can be deactivated in a quick and safe way. To do so, you need to make a deposit of EUR 1 to your account to verify your identity. This will be credited to your account balance. 

Enable crypto withdrawals lock

1. On our website, navigate to Security;
2. Click on enable lock;
3. Click on enable lock; (and read the explanation carefully);
4. Type the word ''confirm'';
5. Crypto withdrawals lock has been enabled for your account. It is now no longer possible to perform crypto withdrawals to external wallets.

Disable crypto withdrawals lock

1. On our website, navigate to Security;
2. Click disable lock (and read the explanation carefully);
3. Click disable lock;
4. Click on "Continue";
5. Select a payment method;
6. Deposit €1 to your euro balance (you are able to withdraw after depositing);
   
   It can take up to 2 working days to receive the deposit, depending on the payment method.
7. The Crypto withdrawals lock will be disabled within 2 hours after the deposit is added to your euro balance. This way we can verify your bank account ownership.

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