A Whitelisted Address is a public wallet address that you can send unlimited funds to at all times. You can set 5 Whitelisted Addresses of your own. These could be the address of someone you trust, or your own cold storage wallet (e.g. a Ledger device).
Daily limits do not apply to Whitelisted Addresses. If your wallet is ever compromised, you can send all your assets to your Whitelisted Addresses.