A Memo/Destination Tag is an additional address feature necessary for identifying a transaction recipient beyond a wallet address.
It’s not needed when sending crypto to a privately controlled cryptocurrency wallet. Centralized crypto exchange customers often send their transactions to a single address and add a Memo/Destination tag to indicate which deposit belongs to them.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article