Trusted Address Book Protection is a security feature on Coinbase Prime that enables crypto withdrawals to only go to external addresses already listed in the Address Book in your Prime portfolio. This provides additional assurance that your cryptocurrencies are only sent to known and approved withdrawal addresses. It also allows you to label withdrawal addresses, making them easier to find and identify.

How does Trusted Address Book Protection work on Coinbase Prime?

Trusted Address Book Protection is automatically enabled for all Prime portfolios. When a user adds new addresses to their Address Book, these changes will be subject to Consensus Approval before the new addresses can be used to send crypto to any external addresses off Prime. 

Transferring cryptocurrency between addresses on Coinbase Prime and Coinbase Exchange is considered an external transfer. Transfers made between wallets within an Investment Vehicle or entity are considered internal transfers.

Adding external addresses to your Address Book

External addresses must be added to your Address Book before you can withdraw or send to those addresses. Once your address is approved by team consensus, it can be used immediately.

Add addresses through your settings

  1. Go to your Prime portfolio
  2. Click your portfolio icon in the top right corner 
  3. Click the settings gear icon
  4. Click on Address Book 
  5. Click Add Trusted Address
     a. Note: only users with “Initiator” roles will be able to add addresses
  6. Search for or select a cryptocurrency asset and fill in the following fields 
     a. Name: Add a nickname for the address
     b. Address: Enter the trusted address
  7. Click Confirm New Trusted Address to send the address to Consensus Approval

Add addresses through the withdrawal flow

  1. Go to your Prime portfolio
  2. Click Withdraw next to your chosen cryptocurrency asset
  3. Click Withdraw to External Address
  4. Under From, select your withdrawal account
  5. Under Destination, click See Trusted Address Book > Add Trusted Address
  6. Search for or select a cryptocurrency asset and fill in the following fields
    a. Name: Add a nickname for the address
    b. Address: Enter the trusted address
  7. Click Confirm New Trusted Address to send the address to Consensus Approval 

Modifying your Trusted Address Protection

Your Prime account is automatically defaulted to enable Trusted Address Book Protection. While we do not recommend that you disable this feature, you can do so in your profile settings. If this feature is disabled, we may require additional video call approvals for certain transaction types to meet our levels of security.

  1. Go to your Prime portfolio
  2. Click your portfolio icon in the top right corner 
  3. Click the settings gear icon
  4. Click on the Security tab
  5. Under Transactions > Trusted Address Protection, click Edit
  6. Toggle the switch off to disable this feature
  7. Click Confirm Changes