Resources | AOPP Portal User Guide
Prove Wallet Ownership with Phantom and the AOPP Portal
Many jurisdictions, such as Switzerland and the EU, require exchanges to request wallet ownership proofs from their customers in specific instances. Failure to do so could result in severe fines or even the exchange's permanent shutdown.
However, proving ownership over a specific wallet address using the AOPP Portal is quick and straightforward. Below, learn how to provide ownership proofs with a Phantom wallet.
Proving Self-hosted Wallet Address Ownership with Phantom
When you request a deposit or withdrawal to your self-hosted wallet, your crypto exchange will direct you to the AOPP Portal to verify ownership before completing the transaction.
Step 1
Ensure you have created a Phantom wallet account and installed the browser extension.
Now you can start your withdrawal or deposit process via your exchange.
Step 2
Using the AOPP Portal link provided by your exchange, select Phantom as your wallet type.
Step 3
After selecting Phantom, your wallet should immediately open as a pop-up*. Insert your password to open your wallet.
Next, an address request from the AOPP Portal will automatically appear within your wallet. Select Confirm.
*If your wallet does not immediately open, check your browser settings to make sure pop-ups aren’t blocked or disabled.
Step 4
Upon completion of the process, a success message will be displayed in the AOPP Portal. You can now continue with the withdrawal or deposit in the exchange's environment.
FAQs on Wallet Ownership Proofs
What Is the AOPP Portal?
The AOPP Portal enables customers to easily prove ownership of a wallet address to their digital asset provider (for example, their exchange).
The AOPP Portal allows you to send a cryptographic signature to your digital asset provider, proving that you control a wallet address.
Is My Privacy at Risk?
No. Proving ownership of an address is just sending a signature (a text string) to your digital asset provider, which allows them to verify that you own a specific wallet address. This information is not published on any blockchain or distributed ledger. This data is heavily protected and not shared with any compliance technology, as your digital asset provider will store it on-premises.
Do I Need to Pay to Prove I Own my Wallet Address?
Proving ownership through the AOPP Portal is free, unlike other methods, like the Satoshi Test, which incurs costs, such as the mining fee to perform a microtransaction.
After I Prove Ownership, Where Does My Proof Go?
Within milliseconds of proving ownership via the AOPP Portal, your proof is automatically sent to your exchange. Moreover, only your exchange will have access to this proof, ensuring there is no leakage of the information to a distributed ledger or any other system.
Can My Exchange Access The Coins In My Self-hosted Wallet?
No. Your exchange, as well as any other party, can only access your coins in your self-hosted wallet if you hand them your private key.
In an AOPP verification, instead, you use your private key to sign a message and share only that signature, which allows verification without any insight into your private key.