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How are withdrawal accounts set up?

By default, all accounts are deemed to be blacklisted (not approved for withdrawals) until added and approved by a platform. Withdrawal Accounts and Addresses are approved bank accounts and cryptocurrency addresses that a platform has approved for use by its users. Withdrawal Accounts & Addresses may be approved by either an authorized signer or admin in the portal. Once approved, the Withdrawal Account or Address will be available for withdrawals.

Adding a New Withdrawal Account

  • Go to the portal and find the Participant header, Withdrawals sub-header

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  • Select the asset you wish to add a new account to via the horizontal ribbon

Asset_ribbon.png

  • Click "Create New Account" button

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  • Fill out the pop-up

New_Withdrawal_address.png

Note: Fiat and Crypto will have differently formatted pop-ups

  • Click OK

Approving or Rejecting a New Withdrawal Account

  • As of June 1, 2022 a minimum of one additional approval is required for all new addresses whitelisted via the portal.
    • Note: required approvals is a setting controlled by the Zero Hash operations team. Please reach out via your dedicated support method if you would like this increased. Current settings can be viewed via the Settings section, within the Administration header.
  • Pending approvals appear on the asset-specific page where the account was created
    • Note: The user that submits the account cannot approve the request

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Controls

  • Withdrawal Limits are the maximum amount of a currency, denoted in that currency, that a Participant may withdraw at any one time.
  • Changing any control feature of a Withdrawal Account or Address will remove it from its previous approved state, thereby removing it as an option for submitting withdrawals, until such time that it is approved again by at least one authorized signer.
  • Note: changing a Withdrawal Accounts status from approved to pending will immediately cancel all previously approved but unprocessed Withdrawal Requests.