The Safelisting feature is an enhanced security option provided by Ledn, that allows clients to pre-aurhotize destination addresses for withdrawals and once activated, withdrawals will only be allowed to safelisted addresses.
Important things to know before activating Safelisting
1. You must have your Token 2FA Authenticator enabled to enable the Safelisting feature.
2. 48-hour cool-off period: When you first set-up a safe-listed address, the system will automatically start a 48-hour cool-off period during which withdrawals will be restricted. This will not impact any withdrawals that you wish to make to any other of your active Ledn products.
For further clarity, every time you wish to add a new address, there will be a 48-hour cool-down period before being able to send BTC or USDC to that address.
Deleting addresses will also trigger a 48-hour cool-down period.
2. Transfers from BTC Savings to Ledn Loan addresses for collateral top-ups: All your Ledn product addresses will be automatically safe listed. For example, if you have active Bitcoin-backed loans or B2X loans, the collateral top up bitcoin addresses for all active loans will be automatically safelisted and always remain available for you to send BTC to - even during the cool-down periods.
How to activate Safelisting
1. Once logged into your dashboard, navigate to the "Security" section on the top right corner of your screen:
2. Once on the Security page, under the "Safelisted Addresses" section, fill in the details of the address you'd like to Safelist as per the image below, and once complete, click on the "Add" button:
3. Once you have clicked the "Add" button, you will be prompted to confirm the details and enter your Token 2FA code. You will also see a notice that the 48-hour cool-down period will start from the moment you submit the instruction to safelist a new address:
And that's it. After the 48-hour cool-down period passes, your account will only be able to withdraw funds to Safelisted addresses.
Keep in mind once again that you will always be able to send Bitcoin from your Savings Account to any active loan collateral address for top ups.
If you have any other questions about the safelisting feature, feel free to reach us at firstname.lastname@example.org and we'll be happy to assist you.