Does this apply to me?
Only if your Luno account is verified in Singapore.
To comply with the latest Travel Rule requirements in Singapore, we don’t support sending or receiving cryptocurrency to or from a private wallet address that doesn't belong to you. You can read more about this here.
For this reason, when you use your Luno wallet to transact with a private wallet, we need to verify that you own that wallet. This is done by signing a message using your private wallet.
Note
Some wallets, such as XRP or multisig wallets, won’t support signing a message with a single unique signature. To send crypto from Luno to a private wallet address, that wallet needs to support the message signing functionality. The same goes for receiving crypto from a private wallet.
Here’s how
Once you’ve indicated This is a private address when sending or receiving cryptocurrency, you’ll see a screen saying “Let’s make sure you own this address.” Select GET STARTED to begin
Copy the message shown to you. Don’t make any changes to the message - it must be copied exactly as is
Your private wallet management application should have a sign message tool available. Paste the message into the tool and sign it to generate a unique signature.
Copy your unique signature, go back to Luno, and paste it in the Signature field
Select NEXT to complete the process
If successful, you’ll see a confirmation screen showing your send amount, network fee, and wallet address. Select CONFIRM to send your crypto
Where can I find my private wallet’s “sign message” tool?
Each private wallet application will work slightly differently, but here are some options you can try:
Go to your addresses, select or right-click the address you want to send to, then look for an option to sign or verify
Or look for a “Sign message” option from the main menu (it might be located under Tools or Settings)
Consult your wallet provider’s knowledge base or support community for more information
We've put together a couple of examples below.
Here’s how you can sign a message using your Bitcoin private wallet with Electrum:
Open the Electrum application and go to go to the Addresses tab
Right-click the address you want to sign for, and choose Sign/Verify Message
Paste the message from Luno into the Message box
Select the Sign button
Your unique signature will appear in the Signature box
Copy your signature and paste it back on Luno to complete the process
Here’s an example of what a Bitcoin signature might look like:
MetaMask, a popular private wallet app, doesn’t have message signing capabilities built-in, but you can link your MetaMask wallet with another service (such as MyCrypto) to sign your message.
Here's how
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Start by adding the MetaMask extension to your web browser by visiting one of these browser web stores:
After the extension is installed, select Get Started on the ‘Welcome to MetaMask’ page
Now that your MetaMask wallet is set up, go to app.mycrypto.com
Hover over Tools and select Sign/Verify Message from the menu
Choose the MetaMask option, then select Connect to MetaMask
MetaMask will open up a connection window. Select the wallet you want to sign for, press Next, then Connect
Copy your message from Luno and paste it into the Message field on MyCrypto
Select the Sign Message button, then press Sign
Your signed message will appear. It includes several fields: “address”, “msg”, “sig” and “version.” Copy the signature only (the string of numbers and letters beginning with 0x)
Back on Luno, paste your signature and select NEXT to complete the process
Here’s an example of what an Ethereum signature might look like:
I’m getting a “Please check your signature” error. What now?
Try signing your message again. This time, double-check that:
The message you copied is exactly as it appears on Luno
The address you’ve entered on Luno is the same address you’re signing the message with
The signature is copied exactly
If even a single character in the message, address, or signature is mismatched (for example, an extra space, or a capital letter instead of a lower-case one), the signature won’t work.