What is a memo or destination tag?
DefinitionA memo, destination tag or comment is extra information attached to a transfer that tells the receiver, usually an exchange, which account the deposit belongs to. TON calls it a comment, the XRP Ledger a destination tag and Stellar a memo.
Why exchanges ask for a memo
Exchanges ask for a memo because they often receive TON, XRP or XLM for all their customers at one shared address. The memo or tag is what links your deposit to your account. Without it, the coins reach the exchange’s address, but the exchange doesn’t know whom to credit.
Your own personal wallet usually doesn’t need one, because its address belongs only to you. A memo is a routing note for the receiver, not a password, and anyone can read it on the blockchain.
What it is called on each network
The idea is the same everywhere, but the name and format change:
- TON: a text comment, also used by shops and invoices to match payments
- XRP Ledger: a destination tag, which is a number
- Stellar: a memo, usually text or a numeric ID
- Other networks and exchanges: memo, tag, note or payment ID
How to get it right
Most memo mistakes happen while copying details from an exchange. A few habits prevent them:
- Copy the memo from the exchange’s deposit page and check it before every deposit
- Paste it into the memo, tag or comment field, never into the address field
- Never reuse a memo someone else gave you for their own account
- If the deposit page shows both an address and a memo, both are required
Memos in Waletifi
Waletifi lets you add a memo when you send, and warns you on the review screen when a destination, such as an exchange deposit address, looks like it needs a memo and you left it empty. Business invoices paid from any TON wallet also use a memo to match each payment to its invoice.
