【A quick explainer】What are Memo and Tag used for when making a transfer?
ATOM transfers on the Cosmos chain also include a Memo field, and many exchanges require you to fill it in when depositing ATOM.
Using a shared address with a Memo lets exchanges avoid managing a large number of addresses. The trade-off is that the Memo is the only way to identify who a deposit belongs to.
When transferring $XRP to an exchange, you usually need to enter both the address and the destination tag. Currently 1.4068.
If someone asks you to pay first and then unlock something, it’s usually a scam.
#XRP
ATOM transfers on the Cosmos chain also include a Memo field, and many exchanges require you to fill it in when depositing ATOM.
Using a shared address with a Memo lets exchanges avoid managing a large number of addresses. The trade-off is that the Memo is the only way to identify who a deposit belongs to.
When transferring $XRP to an exchange, you usually need to enter both the address and the destination tag. Currently 1.4068.
If someone asks you to pay first and then unlock something, it’s usually a scam.
#XRP