In Crypto Assets trading, a "Memo" (also known as a tag or destination ID) is a numeric or alphanumeric code used for transactions on a specific network.

Its main function is to clearly identify the recipient, or to allocate the transaction to a specific account on an exchange or platform.

**What is the use of Memo?**

Some Crypto Assets, such as XRP (Ripple), XLM (Stellar), or BNB (Binance Coin), allow users to use a common wallet address on mainstream market platforms. However, to distinguish between different users using the same address, a Memo or tag is added to the transactions. If you do not use the correct Memo when making a transaction, the exchange may not be able to identify the recipient, and the funds may be lost or require a complicated process to recover.

**When do you need to use a Memo?**

When sending Crypto Assets to centralized exchange platforms (CEX), such as those currently public on mainstream market platforms. In some cases, this is necessary for certain networks and coins:

- **XRP (Ripple): Tag required.**
- **XLM (Stellar): Memo required.**
- **BNB (Binance Coin) on the BNB chain: Memo is required.**
- **EOS: Use Memo for target identification.**

**Where can I find the Memo?**

- **In your trading platform account:**

When you decide to deposit coins such as XRP, XLM, or BNB, the platform will display your deposit address and a unique Memo/tag.
_Address example: rEXAMPLEAddress123456_
_Memo/Tag: 12345678_

- **On the withdrawal page:**

When initiating a fund transfer from the trading platform, there will be a special field for entering a Memo besides the address.

- **Confirming in external wallet:**

Some wallets, such as the latest publicly available mainstream wallet channels, will also indicate whether a Memo needs to be added when sending funds.

**Practical Operation Example:**

Assuming you want to send XRP from a mainstream market platform using public information to another platform. The steps are as follows:

- You open the target account and select "Deposit XRP."
- The platform will provide two pieces of information: deposit address and tag/Memo (for example: 12345678).
- When withdrawing, you copy the address and Memo, and enter them into the corresponding fields.

**What happens if I forget to use a Memo?**

If you forget to enter the Memo or tag:

- Transactions may still be executed, but the platform cannot identify the recipient.
- You need to contact the platform's support team to try to recover the funds.
- This process is usually quite complex and cannot guarantee the recovery of funds.

Please remember that when sending XRP, XLM, and BNB to centralized trading platforms, a Memo is required.