A whitelist refers to a list of participants approved to participate in a specific event, which is used to ensure Only persons with certain qualifications may participate in the event. At present, the whitelist mechanism is widely used in the field of information technology, mainly used for spam screening and content access permission. Generally speaking, whitelists are associated with specific services, events, and identities. In the Crypto field, whitelists are generally used:

Participate in the crowdfunding issuance of projects

For the crowdfunding issuance of projects (such as ICO, IEO, For IDO), the whitelist is established by the organizer of the token issuance. Requirements for whitelisting typically include a minimum investment amount, having an account in good standing, or being invited to participate (having a referral code).

Qualified investors can enjoy exclusive participation rights in ICOs or pre-sales, which also means they can purchase tokens at a lower price or receive higher token allocations.

Participate in the casting of NFT projects

NFT projects also have the concept of whitelists. Similar to project issuance, the NFT whitelist refers to the list of participants allowed to participate in the NFT market or sale. This list is mainly managed by NFT issuers and is used to limit certain users to purchase or trade NFTs.

The ways to be admitted to the NFT whitelist include: participating in activities on social media, participating in the Discord community, providing excellent content or ideas, etc. Whitelisted users often have priority in minting NFTs at specific times while enjoying perks such as being free from network congestion or avoiding high gas fees.

What are NFTs? What are its characteristics? Please refer to the "What is NFT" entry.

Withdrawing coins from centralized exchanges

In addition, withdrawing coins from centralized exchanges will also involve a whitelist. The whitelist here refers to the list of cryptocurrency addresses trusted by users. Users can manually add trusted addresses to the whitelist.

After turning on the whitelist system function, users can only send funds withdrawn from the exchange to trading addresses previously included in the whitelist. Through this program, users can better protect their assets from attacks.

You may be interested in the following information:

• How to obtain cryptocurrency?
• How to use cryptocurrencies?