If you send crypto to your BLOX account from a personal external wallet (such as a Ledger or MetaMask) and the amount exceeds €1,000, we are required to verify the source of the crypto and confirm that the wallet belongs to you.
This requirement stems from the European Travel Rule, a regulation designed to prevent financial crime such as money laundering and terrorist financing. As a result, crypto providers like BLOX are legally obligated to request certain information for transactions over €1,000.
In some cases, this means we’ll ask you to complete a wallet verification. This is a one-time check to confirm that you are the rightful owner of the wallet.
What if I don’t complete the wallet verification?
If you don’t verify your wallet, we won’t be able to immediately credit the received crypto to your BLOX account. Instead, the funds will be temporarily held until the verification is completed. This is necessary to comply with regulations and to keep both your account and our platform secure.
Once the verification is successfully completed, the crypto will be automatically added to your balance