What is the MEMO field or destination tag (TAG)?

Destination Tag (TAG) or Memo is an additional wallet address function needed to identify the recipient beyond the XRP/XLM/BNB wallet address on a centralized exchange or wallet.

Since most exchanges and centralized wallets use the same address for all users for certain cryptocurrencies, tokens like XRP / XLM / BNB use destination label technology or MEMO to determine which individual account is due. assign and credit a transaction. If the destination tag/memo is not included when sending XRP/XLM/BNB to a centralized address, funds will be lost and it is irreversible.

In case your exchange or wallet is decentralized (the user owns the private keys), it is probably not necessary for you to need to enter a MEMO / TAG. Anyway always validate this information with your wallet provider. For these cases you must check the option "No MEMO / TAG required" under the MEMO / TAG field.

If you are still not sure, we recommend that you first send a small test amount to make sure that the destination address can receive the cryptocurrencies successfully.

We will not be able to locate/reverse the funds if you do not include the destination tag/memo when sending to a centralized wallet.