How to verify an external wallet address

To withdraw bitcoin to an external address, you must first add the wallet address to your address book in the Blockrise dashboard and get it verified by the Blockrise team. You can add multiple wallet addresses.

For the verification of an external wallet address, please follow these steps:

1. Log in to the Blockrise dashboard
2. Go to "Wallet" in the left menu and click on the withdraw button
3. Select the plus button behind ‘Withdrawal address’ to add a new wallet address. 
4. Fill in all the required fields in the pop-up menu and confirm with your 2FA token to submit the withdrawal
5. After submitting, you will be redirected to a second page to book a verification meeting. Select a suitable timeslot for a 15-minute meeting between a Blockrise team member and you. During this meeting, we will verify your address.
6. You will receive an email confirmation with the video call link.
   1. During the video call, we will verify your identity. Make sure to have an identification document ready to prove your identity.
   2. During the video call, a Blockrise team member will ask you to prove ownership of the wallet address by showing a screen where you are logged in.

After the video call, Blockrise will approve or reject the whitelisting of the bitcoin address. If the wallet address is approved by Blockrise, the client’s address book of whitelisted bitcoin addresses for withdrawals will be updated. From that moment on, the client can use the whitelisted bitcoin address to withdraw bitcoin from their Blockrise Wallet.

Why do we ask you to verify an external wallet address?

As a regulated Bitcoin custodian, Blockrise is under the supervision of the Dutch Central Bank (DNB). To comply with Anti-Money Laundering (AML) policies, we exclusively allow transactions between verified wallet addresses. This means that clients can only send bitcoin from their Blockrise account to external wallets that have been verified by Blockrise.

The purpose of whitelisting wallet addresses is twofold:

1. Ensuring that the bitcoin used by the client to withdraw bitcoin from their Blockrise Wallet are owned by the client. 

2. Preventing third parties from gaining access to a client's Blockrise Wallet. Even if a third party has acquired the client's credentials, they cannot withdraw funds to an undesired wallet address through the extra security layer of whitelisting external wallet addresses.