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How to Set Withdrawal Settings

2023.09.2 MEXC
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The security issues in the field of cryptocurrency have always been a concern for both platforms and users. The impact of the Mt. Gox incident has not yet disappeared, and incidents of crypto theft continue to emerge. To safeguard user assets, MEXC provides two-factor authentication (2FA) and advanced security settings.

When initiating a withdrawal, you need to input email verification codes, mobile verification codes, and Google Authenticator codes. These are all security measures within the two-factor authentication (2FA) framework. To ensure the security of your account, it is recommended to enable at least one form of two-factor authentication. If you wish to learn how to set up Google Authenticator, you can refer to the content titled "Linking Google Authenticator."

In the advanced security settings, you can configure withdrawals to ensure the safety of your personal assets.

1. How to Set Withdrawal Settings


1.1 Website


Log in to MEXC, hover over the user icon in the top right corner of the homepage, and select [Security]. Scroll down the page, and under "Advanced Security," you will find the "Withdrawal Settings."


The withdrawal settings are divided into two sections: "Fast Withdrawal" and "Withdrawal Whitelist."


1.1.1 Fast Withdrawal


Click the toggle on the right side of "Fast Withdrawal", select the amount limit for single withdrawal without verification. Here, we will use 500 USDT as an example. Click on [Confirm].


Fill in the security verification information and click on [Confirm] to enable Fast Withdrawal.

Please note that verification will be based on the two-factor authentication (2FA) settings you have personally configured. The image shows both email verification and Google Authentication methods.


After enabling Fast Withdrawal, when your single withdrawal amount is less than 500 USDT, it will no longer undergo two-factor authentication (2FA) and the withdrawal will be completed directly.

1.1.2 Withdrawal Whitelist


Before enabling the Withdrawal Whitelist, you are allowed to withdraw to any address. Once enabled, you can only withdraw to addresses in your whitelist.

Click on [Manage Withdrawal Addresses/Contacts] to navigate to the frequently used withdrawal address settings page. Click on [Add Withdrawal Address], select [Normal address], fill in the crypto, transfer network, withdrawal address, and address label (optional). Then, tick the checkbox next to "Set as a whitelisted address," and click [Confirm].


Fill in the security verification information and click on [Confirm] to complete the addition of the withdrawal address. Similarly, verification will be based on the two-factor authentication (2FA) settings you have personally configured.

If you want to add multiple addresses to your whitelist in bulk, you can click on [Bulk Adding]. On the "Bulk add withdrawal address" page, fill in the crypto, transfer network, address label (optional), withdrawal address, memo/tag (optional), and enable the "Whitelist" option. Once you have added all the addresses, click [Save].


1.2 App


On the app, tap the user icon in the top left corner, and select [Security]. Then, scroll down to the bottom of the page and select [Withdrawal Settings].

Tap the toggle button on the right side of "Whitelist," enter the verification code for two-factor authentication, and the whitelist feature will be enabled. Once enabled, you can only withdraw to addresses on the whitelist, and withdrawals to other addresses will not be possible.

If you do not have any addresses on the whitelist, tap on [Withdrawal Address] below to enter the page for adding whitelist addresses.


1.2.1 Whitelist


Tap on [Add Address] and select the crypto you want to add. In this example, we will use MX. Fill in the crypto, address, network details, etc. Then, tick the box next to "Add to Whitelist," and tap on [Confirm] to finish.


1.2.2 Fast Withdrawal


Tap the toggle button on the right side of "Fast Withdrawal," select the single withdrawal limit without verification, tap on [Confirm], enter the verification code for two-factor authentication, and the Fast Withdrawal feature will be enabled. The image below displays the single withdrawal limit without verification of 500 USDT being set.

Once the Fast Withdrawal feature is enabled, you will no longer receive verification for withdrawals under 500 USDT each time, allowing for swift withdrawals.


2. The Benefits of Withdrawal Settings


If you frequently make withdrawals, withdrawal settings can enhance your efficiency and effectively safeguard your assets.

The Fast Withdrawal feature allows you to initiate withdrawals within a certain fund range without requiring 2FA, enabling you to quickly withdraw funds. When combined with the use of the Withdrawal Whitelist, you can swiftly withdraw to frequently used addresses without the need to copy these addresses each time. You only need to label these addresses when setting up the whitelist.

In practical usage scenarios, if you have a habit of long-term investment, you can purchase the tokens you invest in on the MEXC platform and then use the Whitelist feature to quickly withdraw to various wallet addresses. If you frequently make small transfers to certain addresses, such as paying salaries to collaborators, using the Fast Withdrawal feature can also enhance your efficiency.


Disclaimer: Cryptocurrency trading involves risk. This information does not provide advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.

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