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What are Memos/Tags?

2023.12.28 MEXC
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Whether using a wallet or an exchange, when users initiate deposits and withdrawals, it's crucial to input the correct address. However, for certain digital assets, along with the address, users must also include a Memo. The Memo is a unique numerical or string identifier ensuring the deposit address's uniqueness, sometimes referred to as a label, tag, message, or payment ID. It pairs with the deposit address, and any mismatch may result in failed transactions and potential asset losses. Therefore, it is essential to diligently provide accurate Memo information.


1.Why Include a Memo?


It's necessary to include a Memo because—for specific tokens such as XRP—the platform uses the same address for all users. To differentiate deposited assets for individual users at this address, the platform generates a unique Memo for each user, streamlining effective management. Additionally, certain projects may require the inclusion of a Memo when performing transfer operations.


2.Crypto with Memos on MEXC


The following are common tokens with Memos that are listed on MEXC:


XRP, XLM, ATOM, CRO, HBAR, EOS, BTS, and many others

3.Important Considerations When Adding a Memo


① The Memo corresponds one-to-one with the deposit and withdrawal addresses, ensuring the uniqueness of these addresses. Filling it incorrectly or omitting it may result in potential asset loss.

② When selecting the deposit network, ensure that the withdrawal network on other trading platforms or wallets is consistent with the deposit network on MEXC. Otherwise, it may lead to the loss of your assets.

③ Some tokens or networks may not necessitate a Memo. Please adjust your actions during deposits or withdrawals based on the specific conditions. If no Memo is needed for withdrawals, choose "No Memo." If a Memo is necessary, ensure both the address and Memo are filled in together. Otherwise, it may lead to the loss of your assets.

4.How to Correctly Fill Out the Memo—Deposits


Let's take an XRP deposit as an example.

4.1 On the Website:

Login to the MEXC website. Under [Wallet] find the [Deposit] page. Select XRP, choose the transfer network, and then click [Show Address].


After generating the address, copy the [Deposit Address] and [Memo/Tag] to the corresponding withdrawal platform.


4.2 On the App:

Enter the [Deposit] page, select XRP, and then click [Tap to generate address].


After generating the address, copy the [Deposit Address] and [MEMO] to the corresponding withdrawal platform.



5. How to Correctly Fill Out the Memo—Withdrawals


Let's take an XRP withdrawal as an example.

5.1 Web:

Enter the withdrawal page, choose the withdrawal address, fill in [Address] - [Network] - [Memo/Tag] - [Withdraw Amount], and click [Submit].
If your XRP address doesn't require a Memo, you can check 'No Memo' and proceed with the transaction.



5.2 On the app:

After entering the withdrawal page, choose on-chain withdrawal, then fill in the [Withdrawal Address] - [Networks] - [MEMO] - [Enter withdrawal amount], and click [Confirm].
If your XRP address doesn't require a Memo, you can check 'No Memo' and proceed with the transaction.


The information above covers the basics of Memos and their importance. Making sure to fill it in properly is crucial. If you have not filled in or entered the Memo/Tag incorrectly, you can refer to the article "Applying to Recover a Deposit Due to an Unfilled/Incorrectly Filled Memo/Tag" for retrieval instructions. If you have withdrawn to the wrong address or filled in the Memo incorrectly, you can find solutions in the article "What If I Withdraw To the Wrong Address Or Enter the Wrong Memo?"

Disclaimer: Cryptocurrency trading involves risk. This information does not provide advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.


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