Why does my exchange ask who I'm sending crypto to?
Your exchange asks for recipient details because of the Travel Rule, an anti-money-laundering requirement. It applies to your exchange, not to trip1, and your booking is unaffected.
Updated
Seeing an unexpected form in the middle of a withdrawal is unsettling, especially when a hotel payment window is counting down. Nothing has gone wrong with your booking, and this takes under a minute to clear.
Why your exchange asks who you are paying
Licensed crypto exchanges have to follow the Travel Rule, which comes from Recommendation 16 of the Financial Action Task Force (the intergovernmental body that sets anti-money-laundering standards). It requires information about both parties to travel alongside a transfer, in the same way bank wires carry sender and beneficiary details.
Around 73 countries now enforce a version of this rule. Your exchange applies it based on where it is licensed, not on where you are travelling or where the hotel is.
What to enter when you are paying for a hotel
- Choose the option for a payment to a merchant or business, not a transfer to yourself or to another person.
- Name CoinGate as the recipient. CoinGate is trip1's crypto payment provider, licensed under the EU Markets in Crypto-Assets Regulation (MiCA) by the Bank of Lithuania.
- Give the purpose as a purchase or a payment for goods and services if your exchange asks.
- Copy the wallet address from the trip1 checkout screen exactly, then send the exact amount shown.
Important: Always check the wallet address and the blockchain network before you send. Crypto sent to the wrong network cannot be reversed and trip1 cannot recover those funds.
Does trip1 see any of this?
No. Whatever your exchange collects stays with your exchange. trip1 only needs an email address to send your booking confirmation, and you can pay from any wallet without creating a crypto account with us.
If the withdrawal is still blocked
Payment windows on crypto checkouts are time limited, so a held withdrawal can cause the invoice to expire. If that happens, start a new booking and pay from a wallet you already control, then top that wallet up separately. Your original funds are not lost, they simply stay in your exchange account.
Exchange recipient details for crypto withdrawals - FAQ
The crypto Travel Rule is an anti-money-laundering standard that makes licensed crypto platforms collect and pass on details of the sender and the recipient of a transfer. It comes from Recommendation 16 of the Financial Action Task Force, the body that sets global anti-money-laundering standards, and works the same way bank wires carry sender and beneficiary details.
Yes. In the UK, crypto firms have had to gather, check and pass on information about crypto transfers since 1 September 2023, and most countries surveyed by the FATF have passed similar laws. Your exchange applies the rule based on where it is licensed, not where you are travelling or where the hotel is.
Your exchange has to record who receives a transfer under the Travel Rule. It is a requirement on the exchange, not a sign that anything is wrong with your hotel booking. Answer the prompts, choose the merchant or business payment option where one is offered, and the withdrawal will normally complete in under a minute.
Choose the option for a payment to a merchant or business and name CoinGate, trip1's crypto payment provider, as the recipient. CoinGate is licensed under the EU's MiCA rules by the Bank of Lithuania. If asked for a purpose, give it as a purchase of goods and services, then copy the wallet address from the trip1 checkout exactly.
No. Whatever your exchange collects stays with your exchange. trip1 only needs an email address to send your booking confirmation, and you can pay from any wallet without creating a crypto account with trip1. trip1 never asks you to identify yourself to book a hotel with crypto.
Besides the Travel Rule, since 1 January 2026 UK crypto exchanges must collect customer details such as name, address and tax reference, plus transaction data, and report them to HMRC under the Cryptoasset Reporting Framework. This is separate from the recipient questions at withdrawal. For how it affects your own tax, check with HMRC or a tax adviser.