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Bithumb to Reject All Withdrawals to Unverified Wallets, Exempts Some CEX -Breaking

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Bithumb Will Reject Any Withdrawals from Unverified Wallets. Some CEX Exempted
  • To block personal wallets which aren’t verified, use Bithumb to exchange.
  • With strict KYC requirements, centralized exchanges can allow withdrawals.
  • Bithumb members must register their wallet addresses.

Crypto world is constantly improving its technology in order to offer users maximum asset security. Bithumb’s exchange has announced it is going to block any personal wallets not verified. The exchange will block all withdrawals from wallets which haven’t registered personal data by Jan 27th.

It is being announced that the “white list” system will now be available. This feature blocks withdrawals from the exchange for wallets not linked to it. Users must make sure to register the information for their wallets to prevent any problems with their future withdrawal requests.

Bithumb offers a preregistration system to allow virtual asset withdrawal addresses. This ensures that the process is seamless. Only users who have passed the KYC verification can use the virtual asset withdraw service. For internal transmission among Bithumb members, you will also need to register your wallet address.

However, exchanges like Kraken, Bitstamp and Blockchain.com have been approved. They also adhere to strict KYC policies. Users of these exchanges need not worry about their withdrawal policies set by Bithumb.

Bithumb’s withdrawal policy for unverified wallets is not unique. Coinone is an excellent example of an exchange which has stopped withdrawals of crypto assets from unverified wallets.

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