What is a Memo or Destination Tag and how do I use them?

Looking to send EOS (EOS), Ripple (XRP), or Stellar Lumens (XLM) from Exodus to an exchange but don't know what to do with the Memo or Destination Tag your exchange gave you? Withdrawing EOS (EOS), Ripple (XRP), or Stellar Lumens (XLM) from an exchange to Exodus but don't know what to enter in the Memo or Destination Tag field? Don't worry, this guide has you covered.

Important Note: Some exchanges/wallets will not process your deposits if the Memo or Destination Tag is not included, we have seen cases of loss of funds due to this. Please always ensure you check this requirement before sending EOS (EOS), Ripple (XRP), or Stellar Lumens (XLM) to any wallet, better yet, test sending a small amount before you send it all. We at Exodus cannot assist you if the receiving wallet/exchange refuses to process your deposit since funds have already left your Exodus EOS (EOS), Ripple (XRP), or Stellar Lumens (XLM) wallet and transactions on the blockchain are irreversible.

What is a Destination Tag or Memo?

Developers of EOS (EOS), Ripple (XRP), and Stellar Lumens (XLM) implemented the concept of Destination Tag/Memo since activating a wallet for these assets require some funds - asset wise details below. For an exchange which has hundreds of thousands of customers trading these assets, it is not economic to create so many wallet addresses.

A destination tag or memo gives them the option to verify all incoming deposits on the same wallet address since each customer is given a unique destination tag/memo while they make the deposit into their wallet. The destination tag/memo is generally numeric (in case of Ripple) or alpha-numeric (in case of EOS & Stellar Lumens) in nature. Payments can be verified automatically by the exchange using the wallet address (account name) + destination tag/memo check, which in turn leads to the crediting of correct balance into customer trading account.

Where do I enter a Destination Tag or Memo while sending funds from Exodus?

Navigate to Wallet > Asset of your Choice (EOS, XRP, XLM) > Send > Advanced > Destination Tag

What Destination Tag or Memo should I use when sending EOS (EOS), Ripple (XRP), or Stellar Lumens (XLM) to Exodus?

Exodus creates a unique wallet address for each customer and hence there is no need to include the destination tag or memo while sending funds to Exodus.

If this is a mandatory field at the sending wallet or exchange, you can enter whatever you like in there. Your funds will arrive in Exodus as long as you have entered the correct wallet address.

Ripple (XRP) only accepts numbers in this field whereas one can enter alpha-numeric characters for EOS (EOS) and Stellar Lumens (XLM).

Read about XRP and XLM minimum balances here:

Ripple (XRP): https://support.exodus.io/article/110-why-does-ripple-have-a-minimum-balance

Stellar Lumens (XLM): https://support.exodus.io/article/779-why-does-stellar-xlm-have-a-minimum-balance

I sent funds from Exodus without a Destination Tag or Memo to a wallet or exchange which requires Destination Tag or Memo. What should I do? Can Exodus help me recover my money?

If the receiving wallet requires a destination tag or memo and refuses to auto-process your deposits if the destination tag or memo is missing, there is nothing we at Exodus can do as the funds have left your Exodus wallet.

Please contact the receiving wallet owner or support team with the transaction ID and request them to manually verify and credit your deposit.

There are some wallets/exchanges which do not offer any support for such mistakes, hence, please be very very careful while sending EOS (EOS), Ripple (XRP), or Stellar Lumens (XLM) out to another wallet without a destination tag or memo. You can always test with a smaller amount to be sure funds arrive in your account.

Any further questions? Please write to us at support@exodus.io for assistance.