Sending crypto to an external wallet in compliance with the Travel Rule
This guide explains how to transfer your crypto-assets from the Young Platform exchange (web version) to an external wallet, following the updated procedure that includes the obligations set out by the Travel Rule (the anti-money-laundering regulation applicable to all crypto-asset transfers).
Using the app? See the guide How to withdraw crypto from the app.
Want to convert your crypto-assets to euros and receive them via bank transfer? See this guide.
1. Start the transaction
- From the main menu, select Crypto → Portfolio.
- Select the crypto-asset you want to send.
- From the top-right menu, click Withdraw.
2. Select or add a destination address
- Already saved address: if the external wallet is already registered, select it from the list of saved addresses and skip to step 6.
- New address: if this is the first time you are sending to this wallet, click "New address".
3. Self-declaration for the external wallet (Travel Rule)
When adding a new address you must declare who owns the wallet. Select from the menu:
- "My wallet" — you declare that the wallet belongs to you.
- "Third-party wallet" — you declare that the wallet belongs to someone else.
Travel Rule note: in Italy the threshold is 0 EUR, meaning that every withdrawal must include the additional information required by the Travel Rule, regardless of the amount.
If you selected "My wallet"
4.A — Enter the wallet address
Copy and paste the receiving wallet address.
5.A — Enter a label
Assign a label to identify the address quickly in future.
Label example: "Metamask"
6.A — Confirm
Tick the box: "I declare that the address entered belongs to me".
If you selected "Third-party wallet"
4.B — Specify the purpose of the wallet
Indicate whether the wallet is used for:
- Personal purposes
- Business purposes
Enter the first name and surname of the owner and confirm that you are authorised to use that address.
5. Specify the wallet type
Once the self-declaration is complete, define the type of receiving wallet. Select from the dropdown menu:
- Private wallet (non-custodial) — if the wallet is self-hosted (e.g. MetaMask, Ledger). Note: for self-hosted wallets you may be required to verify wallet ownership before completing the transaction.
- Exchange or platform (custodial) — if the wallet is held on another platform. Use the search bar to select the platform name (e.g. Binance, Kraken).
Warning: if the platform you use does not appear in the list, contact us — we will try to reach out to the platform to assess its integration into the network.
Network
Select the correct network from the dropdown menu. Young Platform supports numerous networks for the main crypto-assets: see the Fees and prices page.
Memo/Tag (if required)
Some crypto-assets require a Memo or Tag code (e.g. Stellar/XLM, Ripple/XRP, Algorand/ALGO, EOS, Terra/LUNA). Young Platform always uses Memo ID type only. If the destination platform asks you to specify the type, enter "Memo ID".
6. Save the address
Once all fields are completed, click "Continue" to save the address. This step is only required once: for subsequent transfers to the same wallet on the same network, simply select it from your saved addresses.
Warning: if you saved an incorrect address, delete it and repeat the procedure from the beginning.
7. Enter the amount
Enter the amount of crypto-asset to transfer, respecting any minimum withdrawal limits.
For information on supported currencies, fees and minimum amounts, see the Fees and prices page.
8. Review and confirm the transaction
- Carefully check the preview: address, network, Memo/Tag (if required) and amount.
- Confirm the transaction by entering the OTP code received by SMS or email, or the code generated by Google Authenticator.
Once confirmed, the transaction will be submitted and the crypto-assets transferred to the external wallet.
9. Processing times
Receipt times vary depending on the crypto-asset, the chosen network and — for transfers to another platform — the receiving platform's processing time.
10. Tips and error handling
Before confirming, always check:
- Mandatory Memo/Tag: always include it when required (XLM, XRP, ALGO, EOS, LUNA). Its absence may prevent the transaction from completing.
- Correct network: a wrong network may result in the permanent loss of funds. If you use the same wallet on multiple networks, save a separate address for each one and specify it in the label (e.g. "Ethereum Arbitrum", "Ethereum Optimism").
- Complete details: double-check the address, Memo/Tag and all other details. Transactions sent to incorrect addresses may not be recoverable.
If something goes wrong:
- If you sent crypto-assets to the wrong network or without a Memo/Tag, contact the destination platform immediately and ask them to return the funds to Young Platform.
- Once you receive confirmation of the return, send Young Platform all the transaction details so we can assist with the recovery.
Warning: transactions sent with incorrect data may not be recoverable. Young Platform accepts no liability for errors due to a wrong network or missing Memo/Tag, but will do its best to assist in the recovery process whenever possible.
Need help? Open a support ticket or write to support@youngplatform.com.