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What is a Memo or Destination Tag?

Memo and Destination Tags are used in cryptocurrency transactions to provide additional information necessary for processing the transaction. They are commonly used in platforms that support multiple users under a single address, such as exchanges and centralized wallets.

This additional piece of information are used in certain cryptocurrencies like XRP, ATOM or TON, to specify transaction details beyond the basic transfer of funds. It is often used to identify the recipient or the purpose of the transaction.

Do I Need a Memo when Sending from Gem Wallet?​

The need for a "Memo" depends on the recipient's platform. If the recipient is a centralized exchange, you may need to include a Memo, Destination Tag, or similar identifier to ensure the funds are correctly credited to your account. Before initiating the transfer, carefully verify all necessary details, such as the receiving address and any required tags, to avoid delays or loss of funds.

Here are some examples where a Memo is required:

Coinbase ATOM Deposit Needs Memo Kucoin ATOM Deposit Needs Memo

Here are some examples examples where a Destination Tag is required:

Crypto.Com XRP Deposit Needs Tag OKX XRP Deposit Needs Tag

warning

Failure to indicate a Memo or Destination Tag when sending to a centralized exchange or wallet might result to loss of funds.

No Memo Needed for Receiving Crypto to Gem Wallet​

Gem Wallet is a decentralized wallets, and thus you will have a unique address for receiving cryptocurrencies. You do not need to specify a Memo or a Destination Tag.

As shown on the examples below, Gem Wallet will provide you a receiving address only.

Receive ATOM on Gem Wallet Receive XRP with Gem Wallet

note

With or without a Memo, you will receive crypto to your Gem Wallet address.