What is MEMO or TAG?

The MEMO or TAG is an extra code needed to send or receive certain cryptocurrencies to shared platforms.

Why do you need it?

Imagine one wallet address for many users. The MEMO/TAG indicates which of your internal accounts the money goes to.

• Address: Platform.
• MEMO/TAG: Your account.

Who uses it?

Mainly XRP, XLM, EOS, BNB, ATOM, HBAR, etc., on centralized exchanges. Personal wallets (where you control keys) usually don't require it.

Caution when using it in Bitnovo!

• When SENDING from Bitnovo: If the destination address requires it, the app will ask for it. Get the exact MEMO/TAG from the receiving platform.
• When RECEIVING in Bitnovo: When generating your deposit address, Bitnovo will provide your own MEMO/TAG. You MUST provide both (address and MEMO/TAG) to the sender!

ATTENTION!

If you omit or incorrectly enter the MEMO/TAG, your funds might not reach your account, and recovering them is difficult or impossible. Blockchain transactions are irreversible. Always verify!