Wallet service for external crypto withdrawals
When withdrawing cryptocurrency to an external beneficiary, you must specify the wallet service you are sending funds to. This helps ensure the transaction is correctly processed on the appropriate blockchain network and wallet type.
What Is a Wallet Service?
When withdrawing crypto to an external beneficiary, you must select the wallet service that holds the recipient’s wallet address. The wallet service list includes regulated Virtual Asset Service Providers (VASPs) and EU-licensed Crypto-Asset Service Providers (CASPs). Selecting the correct wallet service enables Safe2transact to perform required Travel Rule and compliance checks.
The Exchange list includes many regulated VASPs (Virtual Asset Service Providers) and EU-licensed Crypto-Asset Service Providers (CASPs), such as Kraken, Bitstamp, Anchorage Digital Bank, Amdax, AltCoinTrader, Amber AI Limited, etc.
If your recipient uses one of these providers, simply select it from the dropdown. Safe2transact will automatically handle the compliance verification.
Selecting the correct wallet service helps Safe2transact optimize network routing and apply accurate network and handling fees.
Fallback proof options:
If the recipient’s wallet service is not listed in the dropdown, or if the wallet belongs to a private individual, you must select one of the fallback proof options:
- Self-Declaration:
Select Self-Declaration when you are sending crypto to your own wallet — meaning you are both the sender and the recipient.
You will confirm that the external wallet address belongs to you personally and not to another individual or business.
This option helps satisfy ownership verification when no third-party VASP or CASP is involved.
Select New Beneficiary VASP when the recipient’s wallet provider is a new or unlisted exchange, platform, or institution. You will be asked for a New beneficiary VASP name to continue with withdrawal.