Why Does Binance Require Address Verification for Withdrawals Under the Travel Rule?
If you are asked to verify your address when withdrawing crypto, you have likely encountered Binance's "Satoshi Test". This is not the platform making things difficult for you, but a requirement to comply with the internationally applied "Travel Rule" regulatory standard.
The world's largest cryptocurrency exchange by trading volume,leading in security and liquidity.
New user benefit: Enjoy 20% off trading fees upon registration!
Under this rule, virtual asset service providers must collect and verify the identity and wallet information of both the sender and the receiver when a transfer exceeds a certain threshold, in order to prevent money laundering and terrorist financing.
Prerequisite: Understand Your Transaction Counterparty
The Travel Rule verification process mainly applies when withdrawing to an external platform. You first need to determine which of the following situations applies to you:
Situation A: Withdrawing to another regulated exchange. For example, from Binance to OKX.
Situation B: Withdrawing to your own self-custodial wallet (such as MetaMask, Trust Wallet).
The verification method and required information will differ for these two scenarios.
Step 1: Complete the Travel Rule Questionnaire on the Withdrawal Page
When you initiate a withdrawal, the system will automatically pop up a questionnaire window. This is the first step of the verification process.
What to do: Accurately fill in the beneficiary (recipient) information based on your transaction counterparty.
How to do it:
Situation A: Withdrawing to another exchange
You need to provide the recipient's full name, country/region of residence, and the name of the receiving exchange.
If you are transferring to your own account on another exchange, you usually only need to provide the name of that exchange.
Situation B: Withdrawing to your own self-custodial wallet
You need to declare that the wallet is a "Private Wallet".
Then, fill in the wallet owner's full name, country/region of residence, and other relevant information.
When is it considered complete: When the questionnaire is submitted successfully without any "missing information" or "format error" prompts.
Step 2: Perform the "Satoshi Test" to Verify Wallet Ownership
After you submit the questionnaire, the system may require you to perform a "Satoshi Test". This test is the core verification step in the Travel Rule compliance process.
What to do: Send a very small amount of cryptocurrency to the destination address you intend to withdraw to.
How to do it:
The system will prompt you to perform the test and provide a specified test amount (e.g., 0.00000208 BNB) and the corresponding network (e.g., BSC).
You need to send exactly this amount of tokens from your destination wallet (i.e., the receiving wallet) to the designated Binance address.
This transaction is a real on-chain transfer and will consume gas fees.
When is it considered complete:
You have successfully sent the small transfer from the destination wallet and obtained a Transaction ID (TxID).
Once the system detects this transaction, the address status will change to "Pending".
After the transaction is confirmed, the status will change to "Verified".
⚠️ Key Note: This small test transfer is a real transaction and is non-refundable. Its sole purpose is to prove that you indeed own and can control the destination wallet address.
Step 3: Save the Address to Your Address Book for Future Use
Once an address passes verification, it is automatically saved in your "Address Management" section with the status "Verified".
When is it considered complete: After verification, the address will appear in your withdrawal address book or whitelist. From then on, when you withdraw to the same address again, the system will automatically retrieve the stored information, and you will not need to fill out the questionnaire or perform the Satoshi Test again. The process will be much smoother.
Common Reasons for Failure
Incorrect Test Transfer Amount or Network: Sending an amount that does not exactly match the system's specified figure or using the wrong designated network (e.g., BSC) will cause verification to fail.
Inaccurate Questionnaire Information: Providing a recipient name or country code that does not comply with system rules (e.g., containing numbers or special characters) will be rejected.
Insufficient Gas Fees: When performing the Satoshi Test, if the destination wallet does not have enough gas fees for the corresponding network, the transaction will fail.
Timeout: If the test transfer is not completed within the time specified by the system, the verification will be canceled and must be re-initiated.
Risk Reminder
Accuracy of Information: You must provide accurate and complete information. According to Binance's User Agreement, providing false information may lead to transaction delays or rejection.
Fund Loss: Though the amount for the Satoshi Test is small, it is an on-chain transaction, and the gas fees consumed are non-refundable.
Privacy Compliance: This process is designed to meet global regulatory requirements (such as FATF). Your information is encrypted and shared only with compliant and verified parties.
The world's largest cryptocurrency exchange by trading volume,leading in security and liquidity.
New user benefit: Enjoy 20% off trading fees upon registration!
How to Confirm an Address Has Been Successfully Verified
After completing the above steps, log in to your Binance account and go to [Account Center] → [Account Security] → [Withdrawal Whitelist] or the [Address Management] page. Check the address you just operated on; if its status shows "Verified", the verification process has been completed successfully. From then on, you will no longer need to verify again when withdrawing to that address.
