To safely send crypto to an external wallet, Coinmerce requires you to verify your withdrawal address. This process ensures compliance with current laws and regulations (such as the Travel Rule) and allows you to securely perform transactions to your own wallets or other exchanges.
Follow the steps below to add a new address and start the verification:
Step 1: Go to your Account
Open the Coinmerce app and tap the 'Account' icon on the right side of the bottom navigation bar.
Step 2: Open your address overview
Look for the 'Orders' section in the menu and tap 'Added addresses'.
Step 3: Add new address
Tap the blue button 'Add new address'. This button located at the bottom of your current address list.
Step 4: Choose the coin and the network
Select the cryptocurrency you want to add at the top (e.g., Ethereum). Make sure to choose the correct network that matches your external wallet. Tap 'Start verification' at the bottom.
Step 5: Start the verification
You will now see a notification regarding Dutch regulations. Tap the blue 'Verify' button to continue.
Step 6: Select the type of wallet
Choose between a 'Hosted wallet' (a wallet at another exchange or broker) or an 'Unhosted wallet' (a personal wallet such as MetaMask, Phantom, or Trust Wallet).
Step 7: Choose the connection method
You can link your wallet directly via the 'Connect wallet' button. Is your wallet not listed or do you prefer to connect manually? Then tap the text 'I prefer screenshot method' at the bottom of your screen.
Step 8: Upload your proof
Check the box confirming it is your personal wallet ('This is my personal wallet'). Tap 'Upload screenshot' and select an unedited image of your external wallet where the full address is clearly visible. Then tap 'Verify'.
Step 9: Confirm with 2FA
Enter your 6-digit 2FA code (Two-Factor Authentication) for security. Once the code is entered, your request will be submitted to our team for review.
Extra explanation: The need for this verification stems from the Travel Rule. This is a guideline that requires crypto service providers to collect information about the sender and receiver of crypto transactions to prevent money laundering. An Unhosted wallet is a decentralized wallet over which you have full control (like a Ledger or MetaMask), while a Hosted wallet is managed by a central party (like another exchange).
Important points to note:
Unedited screenshots: Always use an unedited screenshot. Images that are cropped or have text crossed out will be rejected.
XRP Destination Tag: A Tag is mandatory for transactions to an exchange account. For personal wallets without a tag, use the field "00000".
Unsupported wallets: Connecting Telegram Wallets is not supported, and their use is prohibited.
Limited cryptocurrencies: Coins such as ICP, APT, EGLD, and ROSE currently do not support withdrawals, making verification for these addresses impossible. For a full overview of the status of all coins, visit our Withdraw Fees & Status page.
Processing time: After submission, Coinmerce will review the documents. Once the address is approved, you can immediately start sending your crypto.