OKX Introduces New 30-Day Address Verification Feature 🚀
OKX, a leading cryptocurrency exchange, has rolled out a new feature that allows users to verify addresses in their withdrawal address book for a period of 30 days. This feature, which was launched on July 4, 2024, at 7:00 am UTC, gives users the flexibility to choose between a 30-day verification or permanent verification, as per OKX.
Understanding the Functionality of the New Feature 🛠️
- Addresses verified for 30 days require a withdrawal within that time frame to maintain their verified status.
- If no withdrawal is made, the verification will expire, necessitating a security check for future withdrawals to that address.
- However, if a withdrawal is initiated, the verification period will reset to 30 days from the latest transaction date.
- For instance, a transaction on July 4, 2024, at 7:00 am UTC would extend the verification period to August 3, 2024.
Impact on Previously Verified Addresses ⚠️
All addresses previously verified in the OKX withdrawal address book have been migrated to a 30-day expiry period starting from July 4, 2024. Users have two options if they wish to verify their addresses permanently:
- Wait for the 30-day verification to expire and then reverify permanently.
- Delete and re-add the addresses as permanently verified.
Steps to Verify Addresses for 30 Days 🔒
When verifying an address in the withdrawal address book, the verification period default is set to 30 days. Users can choose to switch to permanent verification if they prefer. This feature is available on both the web platform and the app (version 6.75 and newer).
Enhancing Security Measures in the Crypto Space 🛡️
OKX’s introduction of this new feature aligns with the industry-wide trend of implementing enhanced security measures to protect user assets. With the constantly evolving landscape of cyber threats, exchanges are taking proactive steps to ensure the safety and integrity of transactions. This move by OKX is aimed at providing users with an additional layer of security during their withdrawal processes, promoting greater peace of mind.
Hot Take: Stay Secure with OKX’s New Address Verification Feature 🔐
With the increasing importance of security in the crypto space, OKX’s latest initiative to introduce a 30-day address verification feature demonstrates their commitment to safeguarding user assets. By offering users the option to verify addresses for a limited period or permanently, OKX is empowering users to take control of their security measures and enhance the overall protection of their transactions. As threats evolve, it is crucial for exchanges to stay ahead and prioritize the security of their users, and OKX’s latest feature is a step in the right direction.
By
By
By
By