Whitelists are pre-approved/permissioned addresses that are approved by your team. This is another security and efficiency design for you: when creating a transaction, the initiator can directly transfer tokens to the whitelist (the authenticated/verified addresses by your team).
Whitelisting is a win-win design for security and efficiency.
For security, using whitelists can guarantee you that your destination for this transaction is always the correct one and cannot be tampered with. And, you no longer need to worry about there can be something going wrong during manually entering addresses, or in copying and pasting.
For efficiency, you don't need to enter the address every time you create a transaction, just one click on the whitelist (the address is also where you want to send to) and then you can proceed.
Navigate to Me ➡ Whitelist, click
Enter the address name, type and the address.
If you want to delete one whitelist, slide right at the whitelist and click
Delete, and a confirmation will pop up.
Once the co-management is enabled (decision-making mode is activated), adding or deleting the whitelist needs to be approved by admins together.