đź“ťThe term whitelist refers to a list of allowed and identified individuals, institutions, computer programs, or even cryptocurrency addresses.
đź”—In the blockchain and cryptocurrency environment, whitelists are either related to Initial Coin Offering (ICO) or Initial DEX Offering (IDO) events, or withdrawal addresses.
đź“‘Whitelisting is important in cryptocurrency projects because only investors that are whitelisted or willing to participate can join in the ICO or IDO events, or pre-sales. It is also important for security reasons because any investor that wants to participate in the said events would need to provide their personal information before being whitelisted (this is usually done through a KYC procedure).
🛡By whitelisting your wallet addresses you prevent a third party, in case a third party had accessed your credentials, from withdrawing funds to an undesired wallet address. Whitelisting thus makes your account even safer.
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đź“°Read more about Why Whitelisting is Important: https://bit.ly/3b22AUe
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