What is a Memo/Destination Tag?

Memo or Destination tag ensures recipients do not end up losing cryptos during the transaction process. This feature is required by a selected list of cryptocurrencies.

Which cryptocurrencies require Destination tag (Memo) technology on Liquid?

  • Ripple (XRP)

  • Stellar (XLM)

  • Monero (XMR)

  • NEM (XEM)

  • Electroneum (ETN)

  • SIX (SIX)

  • SophiaTX (SPHTX)

  • Atom (ATOM)

  • Clarity Token (CLRX)

  • ThreeFold (TFT)

  • HOT Token (HOT)

  • Hedera Hashgraph (HBAR)


Cryptocurrencies mentioned above support numeric-only or alphanumeric Destination Tag/Memo.

Does Memo replace wallet addresses?

Memo Tag does not replace the wallet address. Instead, it acts as a secondary, additional method of identifying the correct recipient.

Why use Memo?

Most centralized cryptocurrency exchanges use a single address for all traders who deal with cryptocurrencies that use the Destination Tag/Memo technology. Therefore, Memo acts as an identifier to pinpoint the correct recipient.

Note: You do not need to enter the Destination Tag/Memo while withdrawing cryptos to a private wallet. A personal wallet provides users with complete control over the public and private keys. For example, Metamask or Ledger.

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