Change Payout Address
Last updated
Last updated
It is highly recommended to Change the payout address for your validator node and take custody of your rewards.
The change Payout Address option will be enabled once the node has synced. Node Address and Payout address will be available once the node has started syncing, and initially, both will be the same.
You must know these points before changing the payout address:
The amount will accumulate in the new payout address you provided.
Changing the payout address will consist of 2 transactions; the first transaction will change the payout address, and the second one will transfer the remaining balance to the new payout address.
The transaction to change the payout address will charge approximately 0.0002409 VT/EWT as the transaction fee.
The transaction to send the remaining balance to the new payout address will charge approximately 0.00021 VT/EWT as the transaction fee.
The entire process will take a few minutes to complete. You need to have more than 0.0015 VT/EWT in your wallet to perform this action.
The updated balance will take a few minutes to reflect on the panel.
Double-check the new payout address you enter to avoid any errors or loss of funds.
Follow the following steps to change the payout address:
Step 1: Navigate to View Network - On the left navigation, click on the Validator Nodes under the Manage Services menu item. On the EWC network card, click on the ellipsis and then click on the View Network option.
Step 2: Navigate to Address Details - On the Network page, click on the Change Payout Address button.
Step 3: Change Payout Address - A popup will open where you will enter the new payout address.
Step 4: Change Payout Address Confirmation - A popup will open to get your confirmation on the new payout address. Authorize the action by clicking on the Confirm button.
Step 5: Change Payout Address Success - A popup will open indicating the initiation of payout address change. Once you click on the close button, it will take you to the Address Details section, where the payout address will be updated along with the wallet balance, and you will start receiving rewards to the new address once the address has changed.
You can view the notification of this transaction.
