FAQs
Memo/destination tag is a feature that helps identify the user's wallet and verify the validity of the transactions, especially when using a shared wallet address or the same wallet address for multiple users. Memo/destination tag is only available for certain cryptocurrencies, such as XRP, XLM, IOST, and BAND.
What is a destination tag example? ›
Destination tags indicate the beneficiary or destination for a payment. For example, a payment to an exchange or stablecoin issuer address can use a destination tag to indicate which customer to credit for the amount of the payment in that business's own systems.
What is the meaning of XRP destination tag? ›
A destination tag is a value used to discern the holder of the Ripple (XRP) being deposited or withdrawn. Your destination tag can be found by selecting Account Funding, Ripple (XRP), and Deposit. Please be aware that deposits of Ripple (XRP) will not be reflected to your account if the destination tag is omitted.
What does memo mean in trust wallet? ›
A Memo or Destination Tag is an additional address property (numeric and/or string) that allows identifying the transfer recipient behind XRP, XLM, ATOM, HBAR, CRO, STX, INJ address on a centralized exchange.
What is the difference between memo and tag in XRP? ›
Memos are sometimes called memo tags or destination tags. Memos are important when sending XRP/XLM to an exchange but not when withdrawing crypto from an exchange to your Ledger account. You must include a memo with your transaction when sending XRP/XLM to an exchange from your Ledger wallet.
What is a destination tag memo? ›
A memo or destination tag is a piece of information, generally a string of letters/numbers, used to identify a transaction in order to credit the correct account. For exchanges that have many customers, it is not optimal to have individual wallet addresses for each customer.
What happens if I send crypto without a memo? ›
If you send funds without a tag/memo or with an incorrect Tag/Memo, your funds cannot be credited to your account.
What happens if I send XRP without destination tag? ›
Failure to include destination tag/memo when sending XRP/XLM to a centralized address would lead to loss of funds and it's irreversible.
How do I use XRP destination tag? ›
Go to Wallet > XRP > Withdraw. ⠀⠀3. Enter all the required crypto deposit details: transaction amount, recipient's address, and Destination Tag. The address and Destination Tag are generated in the wallet you send your assets to.
Do I need a destination tag to send XRP to trust wallet? ›
No, destination tags (sometimes called memo tags or memo IDs) are only needed to send funds from your Ledger XRP account to an exchange (like Binance or Coinbase) or to send XRP between two exchanges (for example: Binance to Coinbase).
What is a Destination Tag or Memo? A Destination Tag or Memo is a unique identifier used to differentiate between transactions to the same recipient address on the same cryptocurrency network. For instance, for XRP (Ripple) and XLM(Stellar), a single address can be used by multiple users. Destination Tag.
What is the destination tag in Trust wallet? ›
A destination tag (or memo) is a unique identifier used in certain cryptocurrencies to ensure that deposits are correctly credited to the intended recipient.
What does a memo mean? ›
Britannica Dictionary definition of MEMO. [count] : a usually brief written message from one person or department in an organization, company, etc., to another : memorandum.
Does XRP need memo? ›
I am sending XRP/XLM from my Ledger wallet to an exchange
It is critical to add a memo when sending your funds from your Ledger wallet to a crypto exchange if you want the exchange to credit your funds correctly.
What cryptos need a memo? ›
A memo is required for certain cryptocurrencies, including:
- Cosmos (ATOM)
- Band Protocol (BAND)
- EOS.
- Fetch.ai (FET)
- Hedera Hashgraph (HBAR)
- Kava (KAVA)
- Polymesh (POLYX)
- WAX Network (WAXP)
The Destination Tag is ten numbers long and must be included with all Ripple (XRP) deposits to your Kraken account. An example Ripple (XRP) Destination Tag is: 0123456789. Always ensure to include the correct Destination Tag before sending your XRP deposit.
Where can I find my destination tag? ›
Go to Wallet > XRP > Deposit. You will see all your transaction details (QR code, XRP address, and Destination Tag) to copy and paste them.
What is the destination tag in HTML? ›
The <a> tag defines a hyperlink, which is used to link from one page to another. The most important attribute of the <a> element is the href attribute, which indicates the link's destination.
What is an example of a destination URL? ›
An example
The display URL (wwww.BlueYonderAirlines.com) lets people know where they are going when they click the ad and the destination URL can be www.BlueYonderAirlines.com/europesummersale.
How many digits is a destination tag? ›
Memo/destination tag is only available for certain cryptocurrencies, such as XRP, XLM, IOST, and BAND. It can be in both numeric and alphanumeric formats, 8 - 10 digits.
