What is destination tag and memo and how does it work?
I can’t send my XRP, it is always asking for a kind of destination tag; I have no clue what that is. I’ve sent money, but they do not reach its recipient – support said that I need to indicate some kind of a memo. If this situation sounds familiar, this tutorial is definitely for you.
What is a destination tag and memo?
A destination tag is a special identifier used in XRP transactions. In Stellar, the destination tag is called memo. Many custodial services, including Freewallet, have one XRP and XLM address for all customers. The only difference is a special set of numbers called a destination tag, unique for each user.
When you are asked to enter your tag or memo, don’t ignore this action! Otherwise, your funds will be lost and sent to the overall balance of the platform but not to your account. Imagine the tag as your house number on a long street. You need to know the exact number of the building to make the package reach its final destination. The same goes for these coins.
Where can I find it?
Ok finally, you’ve understood this difficult concept and are ready for action. You’ve been wondering where this destination tag is on Freewallet. Let's take XRP as an example. It’s not hard to find, go to the “Receive” section of your wallet and press on the Ripple logo. You will find your deposit address and a generated destination tag in a pop-up window. Use this information to receive coins on your wallet. If you want to send your XRP to someone else, ask the recipient about their destination tag. The same goes for Stellar’s coin.
How can I ensure that my money won’t be lost?
Freewallet uses a destination tag and memo to identify customers and perform transactions. Just follow the simple rules and your XRP and XLM will be safe:
- If you are asked for a destination tag, don’t skip it, just fill it in. You need your exact identifier.
- Don’t fill in random numbers, if you do, your money will be lost or sent to another person with that exact tag you have typed.
- When you have generated a destination tag you can use it an unlimited number of times. Make sure that you haven’t generated a new one, to avoid any problems.
If you have faced any issues regarding operations with XRP or other coins, feel free to contact our support team.