Memo and destination tag: the small field that saves your deposit
Deposits in XRP, Stellar, Cosmos and TON often need an extra code. Forget it and your coins arrive without a name.
Some networks let a single address hold funds for many people. Exchanges love this, because they can give all their customers the same address and tell them apart with a short code. That code is the memo. On XRP it is called a destination tag, and on TON a comment.
Which coins use it
- XRP uses a numeric destination tag.
- Stellar (XLM) uses a memo.
- Cosmos (ATOM) uses a memo.
- TON uses a comment for many exchange deposits.
When you need it
If you receive in your own wallet, you usually do not need a memo. Your wallet has its own address. If you receive in an exchange account, check the deposit screen. If it shows a tag, memo or comment, you have to include it, or the exchange will not know whose deposit it is.
When you swap on Swapea and receive one of these coins, there is a memo field right below the address. Fill it in whenever your receiving service shows you one.
When your deposit needs it
It works the other way too. If you send XRP, XLM, ATOM or TON as a deposit, the instructions may include a memo. Copy it exactly. The swap page shows it clearly next to the address, with a button to copy it.
If something goes wrong
A forgotten memo rarely means lost coins, but it does mean waiting. Contact the service that received the funds, give them the transaction hash and they can usually assign it manually. Better to spend ten seconds checking before you send. There is more on the XRP page.
Questions
Does my own wallet need a memo?
Usually not. A personal wallet has its own address, so no memo is needed. The memo matters when you send to a shared address, like an exchange deposit address, where many customers use the same address.
I forgot the memo. Have I lost my coins?
Usually not. Contact the receiving service and give them the transaction hash. Most exchanges can credit it manually, although it can take time and some charge a fee.
