Coinremitter provides the auto-withdrawal feature for every wallet. So it requires your external address to withdraw funds automatically from your wallet.
However, you can stop the auto-withdrawal feature in some coins but an external address is required in every coin wallet.
Every digital wallet has its unique address and it differs from cryptocurrency to cryptocurrency.
But when it comes to an external address in the coinremitter it simply means all the addresses which must not belong to the coinremitter wallet address but the address of other wallets from different digital wallet platforms, like blockchain.com, coinbase.com, etc.
First, let's see what can be considered an external address.
For example, you have an account in coinremitter and also in third-party sites like exchanges or wallet providers.
The coin address of the third party will be considered as an external address in the coinremitter.
You might have a question about what it is used for and how it is going to help you.
As you might know that coinremitter is just not a digital wallet platform but also provides you with a gateway facility.
So, having an external address in your coinremitter wallet will you get money (coins) to that address through your coinremitter wallet address when you enable the auto-withdrawal feature.
You can not set a Litecoin address as an external address in a bitcoin wallet. you need to set an external address while creating a new wallet which you can edit later.
Steps to add an external address.
- Login to your account
- Click new in the wallet section
- Create the particular coin wallet you want.
- While creating a wallet you need to fill in all required fields.
- There you will see the External Address section.
- Add the address over there & click create a new wallet.
Note: Make sure you add the correct address in your wallet because once the fund is transferred then the coinremitter is not responsible for any issue related to that.
This blog was to answer the question of what is it, what it is used for and how can you save it in your wallet. To receive payment on that address through the coinremitter wallet address.