Withdrawal whitelisting is a powerful security feature that significantly boosts the protection of your digital assets. When activated, this function restricts withdrawals exclusively to addresses you have pre-saved and verified within your address book. This guide walks you through the entire setup process and explains the important related security protocols.
Understanding Address Whitelisting
The core purpose of a withdrawal whitelist is to act as a final safeguard against unauthorized transactions. If your account credentials were ever compromised, a malicious actor would be unable to withdraw your funds to any address not already on your approved list. This adds a critical layer of defense, ensuring that even in a worst-case scenario, your assets remain secure.
To prepare for a withdrawal with this feature enabled, you simply need to add any new destination address to your address book beforehand.
Step-by-Step Guide to Enabling the Whitelist
Follow these detailed steps to activate and configure withdrawal whitelisting on your app.
1. Initiate a Withdrawal
Open your application and navigate to the Assets section. From there, tap on the Withdraw option to begin.
2. Select Asset and Network
Choose the specific cryptocurrency you wish to withdraw and select the On-chain withdrawal method.
3. Manage Your Address Book
You will be prompted to enter a destination address or select one from your saved address book. If you have no addresses saved, tap Add Address to create a new one.
Pro Tip: When adding an address, you can save the selected network as a universal address. This allows you to withdraw other cryptocurrencies that operate on the same network to this single saved address.
4. Choose Address Type
In the Select address type section, specify your preferred address type format (e.g., Legacy, SegWit) to ensure compatibility.
5. Save and Verify the Address
You will be given the option to save this address as a verified entry, which allows you to skip future security checks for withdrawals to it. Select Save to confirm and proceed with your withdrawal.
6. Activate Whitelist Security
Within the address settings menu, you will find the security options. Here, you can enable the Whitelist feature. Additionally, you can simultaneously activate Withdrawal Lock for New Addresses for maximum security.
Important Notes:
- Once the Whitelist is enabled, withdrawals can only be sent to addresses present in your address book.
- The advanced Withdrawal Lock for New Addresses setting imposes a mandatory 24-hour holding period on withdrawals to any newly added whitelisted address. This cooling-off period provides crucial time to detect and cancel any unauthorized withdrawal attempts.
How to Disable the Whitelist
If you need to turn off the whitelist function, you can do so at any time in your address settings. You will be required to enter your two-factor authentication (2FA) codes to confirm the disabling of this security feature. Once deactivated, you will regain the ability to withdraw to any new address. 👉 Explore more strategies for securing your digital assets
Frequently Asked Questions (FAQ)
Q: What is the 30-day verification rule for my address book?
A: This is a security measure where a saved address's "verified" status remains active for 30 days. To maintain its verified status, a withdrawal to that address must be made within that 30-day window. If no withdrawal occurs, the verification expires, and any future withdrawal to that address will require a full security verification check again.
Q: How is the 30-day period calculated and extended?
A: The countdown begins when you verify the address. If you perform a withdrawal, the verification period is automatically extended for another 30 days from the date of that most recent transaction. For instance, if you withdraw at 7:00 UTC on July 4th, the verification period extends to 7:00 UTC on August 3rd.
Q: What happens to my existing verified addresses?
A: All previously verified addresses in your withdrawal address book are placed under this new 30-day verification period. To have them permanently verified, you must either let the current verification expire and then re-verify them permanently, or delete the addresses and re-add them, selecting the permanent verification option during the process.
Q: How do I choose between 30-day and permanent verification when adding an address?
A: When saving a new address, the default option is typically 30-day verification. To set it to permanent, look for a button or link labeled Change verification period or similar, which will allow you to toggle between the available options before saving. Always remember to check the appropriate box to confirm your choice. 👉 Get advanced methods for managing your crypto security
Q: Does the 24-hour withdrawal lock apply to all addresses?
A: No, the 24-hour lock only applies to brand new addresses that you add to your whitelist. Withdrawals to addresses that have been on your whitelist for longer than 24 hours are not affected and proceed normally.
Q: Is whitelisting necessary if I already use 2FA?
A: Absolutely. Two-factor authentication protects your account from unauthorized access. Whitelisting protects your assets after access has been gained, acting as a final barrier. Using both features together provides a comprehensive security setup.