Transferring cryptocurrency is a highly responsible process, as you must carefully input the wallet address to ensure your funds are credited correctly. While Bitcoin and Ethereum have unique addresses, cryptocurrencies like XRP or Cosmos rely on shared addresses used by exchanges. In such cases, a destination tag or memo is required before sending funds to identify the correct account.
This article explains destination tags, lists cryptocurrencies that require them, and provides step-by-step guides to locate memos across different platforms.
What Is a Memo?
A memo—also called a destination tag—is a unique identifier necessary for accurate cryptocurrency transactions. It typically appears as a numeric code (6+ digits) listed alongside the main wallet address.
As mentioned earlier, memos are essential when transferring certain cryptocurrencies (detailed later in this article). These tags help exchanges or wallets with shared deposit addresses route transactions to the correct user. Memos also aid in tracking transfers within specific networks, making them critical for user identification in shared-address environments.
Why Do XRP Transactions Require a Destination Tag?
Ripple (XRP) is among the most common cryptocurrencies requiring a memo. An XRP destination tag is a numeric code needed when sending coins to services using a shared XRP address. It acts as a unique identifier, linking the transaction to the recipient’s account.
Without a destination tag, XRP transfers may face delays, miscrediting, or even loss. Users must then contact support—a time-consuming process—and recovery isn’t always possible.
How to Get an XRP Destination Tag:
- Log in to your crypto platform.
- Navigate to Wallet or Balance.
- Select XRP → Deposit.
- Copy the displayed destination tag before initiating the transaction.
Cryptocurrencies Using Memo/Destination Tags
Below are popular cryptocurrencies requiring destination tags, with memo examples:
| Cryptocurrency | Purpose of Memo | Example Format |
|---|---|---|
| XRP | Identifies recipient’s exchange account | 12345678 |
| BNB | Required for Binance Chain transfers | 98765432 |
| ATOM | Used for exchange deposits | Deposit to account 11223344 |
| XLM | Differentiates users under shared address | Memo ID: 987654321 |
| EOS | Assigns funds to individual users | memo123456 |
| HBAR | Tracks transfers to centralized exchanges | User ID: 1001 |
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Note: Destination tags aren’t required for all cryptocurrencies or services. Always verify the recipient platform’s rules before transferring funds.
FAQ
How to Find an XRP Destination Tag in Trust Wallet?
- Open Trust Wallet.
- Select XRP from the dashboard.
- Tap Receive.
- Copy the wallet address and destination tag displayed.
How to Locate an XRP Destination Tag on Binance?
- Log in to Binance.
- Go to Wallet → Fiat & Spot.
- Search for XRP and click Deposit.
- Note the shared address and your unique destination tag.
What Happens If I Send XRP Without a Destination Tag?
Your transaction will complete, but funds won’t auto-credit to your account. Contact the platform’s support with:
- Transaction ID
- XRP amount
- Receiving wallet address
- Transfer timestamp
Some services charge a fee to recover untagged transfers.
👉 Learn how OKX simplifies XRP transactions with automatic tagging