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Withdrawing from zondacrypto? Avoid These Common Travel Rule Mistakes.

At zondacrypto, compliance and security are key priorities. When you're withdrawing crypto, you'll encounter a mandatory Travel Rule form. Incorrectly filling out this form is a common reason for withdrawal rejections. Here's how you can quickly and correctly complete it.

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zondacrypto Team
6 giugno 2025
Withdrawing from zondacrypto? Avoid These Common Travel Rule Mistakes.

What Is the Travel Rule?

The Travel Rule is a global compliance requirement. Exchanges must share basic sender and receiver details for crypto transactions, enhancing transparency and security.

Common Mistakes to Avoid

1. Choosing the Wrong Exchange Branch:

Exchanges like Binance, OKX, Bitget, and Coinbase have multiple branches. Selecting the wrong jurisdiction (e.g., Binance.US instead of Binance.com or Bitget Singapore instead of Bitget) results in rejected transfers.

Example:

  • For Binance users outside the US, select "Binance", not "Binance.US".

  • European OKX users should select "OKX Europe", not the global "OKX" option.

2. Incorrect Beneficiary Name:

Always provide the exact name registered on the receiving exchange account. Small typos or nicknames lead to rejections.

Example:

  • If your Coinbase account name is "John Doe", do NOT enter "Johnny Doe" or "Coinbase".

3. Mixing Up Fields:

"VASP" (Exchange) and "Beneficiary Name" are separate fields. "Beneficiary Name" should always be a person’s name or registered business name, not the exchange.

By being aware of these mistakes, you can avoid the frustration of a cancelled withdrawal and the need to contact support. Remember, if something doesn’t match up, the transfer will likely be stopped for compliance reasons. It’s much better to take a minute to get it right than to have to redo the withdrawal later.

How to Correctly Fill Out the Travel rule Form?

✅ Clearly identify whether you're sending to a private wallet or another exchange (VASP).
✅ Precisely select the correct exchange branch from the provided options.
✅ Double-check the exact spelling of the recipient’s name as registered at the receiving exchange.

Crypto Travel Rule FAQ

Q: What is the Travel Rule?
A: It’s a compliance measure requiring exchanges to share details of senders and recipients for crypto transactions above certain thresholds.

Q: Why is this information required?
A: To prevent money laundering and enhance transaction transparency.

Q: What if my transfer is rejected?
A: Your funds remain in the account. Simply correct the details and resubmit the withdrawal.

By understanding the Travel Rule and how to properly fill out the form, you can make your cryptocurrency withdrawals from zondacrypto smooth and hassle-free. Always take a moment to ensure you’ve got the right exchange and the right name, this will save you time and ensure your funds reach their destination without delay. 

You can always contact our support team at [email protected] and we will answer your questions or doubts! 

 

DISCLAIMER

Questo contenuto non costituisce alcun consiglio di investimento, consulenza finanziaria, consulenza di trading o qualsiasi altro tipo di consulenza e non deve essere considerato come tale; zondacrypto non raccomanda di acquistare, vendere o detenere alcuna criptovaluta. Investire in criptovalute comporta un rischio elevato. Esiste il rischio di perdere i fondi investiti a causa delle variazioni dei tassi di cambio delle criptovalute. 

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