What is a Memo/Tag and why specify it?

Memo, Tag, or Destination Tag is an additional identifier that is used when sending certain cryptocurrencies (for example, XRP, XLM, EOS, etc.). It helps the system determine exactly which account within the platform the funds should be credited to.

Important: Memo/Tag does not replace the wallet address, but is used together with it. This is especially true for exchanges and wallets, where the same address is used for many users.

If you do not specify the Memo/Tag when sending, the funds may not be credited to your account, even if the address was entered correctly. In this case, you will need to contact the support service of the receiving party (wallet or exchange) to request a refund or manual transfer. This may take time and require additional verification.

Always carefully check whether your wallet requires a Memo/Tag before completing the application.