What is MEMO or TAG?

The MEMO or TAG is a crucial identifier code for depositing cryptocurrencies (like XRP, XLM, BNB, ATOM, among others) on centralized exchanges.

It's essential to use it so the exchange can correctly allocate the funds to your account. However, you don't need it for personal wallets, like Bitnovo.

If you omit it or type it incorrectly, you could lose your funds irreversibly. Always double-check and use it with precision.