Get Ready for Change: Private Wallet Verification Coming Soon

The world of crypto is evolving at lightning speed, but with rapid growth also comes new regulation. The European Union is introducing rules designed to increase transparency and security in crypto transactions. One of the key requirements is the verification of private wallets used for withdrawals above the equivalent of €1000.

At Kanga Exchange, we are preparing to implement these rules – and you can get ready with us.

Why these changes?

The new requirements come from MiCA (Markets in Crypto-Assets) and TFR (Transfer of Funds Regulation). Their goal is to protect investors and prevent misuse of crypto – especially money laundering and illicit activity.

In practice, this means that every exchange operating in the EU will be required to confirm whether a user truly owns the private wallet to which they are withdrawing funds.

What does this mean for Kanga users?

In accordance with EU guidelines: soon, when withdrawing crypto to a private wallet, you’ll need to provide not only the wallet address but also proof of ownership. This applies to transactions above €1000.

It’s important to stress – this is not Kanga’s internal decision but a legal requirement that all EU exchanges must follow.

What is a private (unhosted) wallet?

A private wallet is a solution that you have full control over. This means that only you have access to your funds and private keys. The most popular non-hosted wallets include: MetaMask, Trust Wallet, Exodus, Electrum and hardware wallets such as Ledger or Trezor. These types of wallets will require verification.

What is an exchange (hosted) wallet?

A hosted wallet is part of a cryptocurrency exchange or platform, such as Kanga, Binance or Coinbase. The private key is stored by the company, giving the user easier access to the funds, but not full control over them. Currently, hosted wallets do not require verification.

Why verify your private wallet early?

Although the rule will only become mandatory soon, you can prepare in advance and avoid issues later:

• No delays – withdrawals will be processed instantly once the rule takes effect.
  
• Save time – complete verification at your own pace, without pressure.
  
• Priority processing – wallets verified earlier will be approved first.

How to verify your private wallet

The process is quick and straightforward. Just a few minutes, and your withdrawals will be ready for the upcoming changes.

1. Log in to your Kanga Exchange account.
   
2. Go to “Wallets” → “My Addresses.”
3. Add a new wallet address or select one from your list.
   
4. Choose a verification method and follow the instructions.
   
5. Done! You’ll receive an email confirmation once it’s complete.

Three verification methods – your choice

To make the process as easy as possible, we have prepared three secure verification methods that result from EU guidelines.

• Video Verification – record a short 2–3 minute video following our guidelines. Verification time: up to 24 hours. You can find instructions here.
  
• Satoshi Test – send a microtransaction to confirm control of your wallet. Automatic verification.
  
• Digital Signature – sign a generated message with your private key (e.g., via MetaMask). Real-time verification.

The types of available verification methods may vary depending on the wallet or the blockchain network on which the verified address operates.

Conclusion

These new regulations will soon apply to all exchanges in the EU. By verifying your wallet now, you will:

• be fully prepared for the upcoming changes,
  
• avoid withdrawal delays,
  
• ensure maximum convenience and peace of mind.
  

Don’t wait – verify your wallets today and stay ahead of the new rules.

👉 Log in to your account now and head to My Addresses to complete verification.