Within the blockchainA blockchain is a distributed database that is shared among the nodes of a computer network. Read More and cryptocurrencyA digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by... environment, whitelists are either related to Initial Coin Offering (ICO)An Initial Coin Offering (or ICO) is a method for teams to raise funds for a project in the cryptocurrency... Read More events, or to withdrawal addresses. In the first case, cryptocurrency projects may offer a whitelisting phase for investors that are willing to participate in the public sale of their tokens. So any investor that wants to participate in the ICO would need to provide their personal information before being whitelisted (this is usually done through a KYC procedure).
In regards to withdrawal addresses, whitelistA whitelist is a list of individuals granted permission to participate in an ICO. Every project will have its own... Read More refers to a list of cryptocurrency addresses that users define as trustworthy. In that case, they would only be able to withdraw funds from their exchangeA digital marketplace where you can buy and sell cryptocurrency. Read More account to the addresses that were previously whitelisted. On Binance, this is also known as address management or withdrawal address whitelist, and it’s an efficient way for users to protect their funds from hackers.
