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Why do I need to verify my wallet for crypto deposits and withdrawals?

A verification step may be required when depositing crypto from a self-hosted wallet or withdrawing crypto to it.

Pierre-Luc Schaming avatar
Written by Pierre-Luc Schaming
Updated yesterday

🛡️ Why is verification required?

Under the European regulation known as the Travel Rule, Finary must ensure that cryptocurrency withdrawals are made to a wallet or exchange account owned by the verified account holder. This ensures compliance with anti–money laundering (AML) and counter–terrorism financing (CTF) regulations, providing an additional layer of security for financial transactions.

🔎 When does this verification take place?

You may be asked to verify wallet ownership if:

  • You are withdrawing crypto to a personal wallet (e.g. Ledger, Metamask, Trust Wallet)

  • The regulatory context or the nature of the transaction requires additional verification

✅ No verification is required when withdrawing to an exchange account. In that case, Finary simply shares your identity with the receiving exchange so it can verify that the account belongs to the same person.

🧰 How does the verification with Notabene work?

Notabene is a third‑party service that verifies destination wallet ownership during crypto transfers. It helps ensure compliance with international regulations (including the Travel Rule) while never accessing your funds or private keys.

You only need to verify once per wallet address. If you do not complete verification, your transfer cannot proceed.

When required:

  1. You’ll be redirected to Notabene during the transfer flow.

  2. Select the wallet type (self‑custody or exchange).

  3. Choose a verification method and follow the instructions.

  4. Once the address is verified, it is saved for future transfers.

Verification methods

WalletConnect (mobile wallets)

Available for certain assets. If your wallet is listed via WalletConnect, select this option and follow the prompts in your wallet app to confirm ownership.
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Connect another device (recommended for BTC with Ledger)

Native Ledger verification may not be available for BTC. Use Connect another device:
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  1. Tap Share Link to generate a verification link.

  2. Open the link on a computer using Chrome/Chromium (e.g., Brave). Note: Safari, Edge and Firefox are not supported for this step.

  3. Notabene will offer the Ledger option; open the correct app on your Ledger so it can be detected.

  4. Once detected and validated, click Continue in your desktop browser, then Continue on your phone.

  5. You’ll be redirected back to Finary to finalize the transfer.

Micro‑transaction (fallback if other methods fail)

Prove ownership by sending a small amount from your wallet to the address provided:

  1. In Notabene, choose Micro‑transaction; an address and a small amount will be shown.

  2. Send the transaction from your wallet. If the suggested amount is below your wallet’s minimum, send the minimum allowed—it will still work.

  3. Copy the transaction ID (TXID/Hash) from your wallet’s history.

  4. Paste the TXID in Notabene and confirm.

  5. Your wallet address will be verified.

Is Notabene Safe?

Notabene is safe to use, as it does not have access to your cryptocurrency funds or private keys. Its role is limited to securely verifying wallet ownership. Additionally, it uses top-tier security protocols to ensure the privacy and protection of your data during the verification process.

📌 Learn more about how to withdraw crypto from Finary.

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