What is a Memo, Destination Tag, Message, and Payment ID and how do I use them?

Looking to send Cosmos (ATOM), EOS (EOS), Ripple (XRP), Stellar Lumens (XLM), Binance Coin (BNB), NEM (XEM), or Monero (XMR) from Exodus to an exchange or merchant but don't know what to do with the Memo, Destination Tag, Message, or Payment ID the exchange or merchant gave you?

Or withdrawing Cosmos (ATOM), EOS (EOS), Ripple (XRP), Stellar Lumens (XLM), Binance Coin (BNB), NEM (XEM), or Monero (XMR) from an exchange to Exodus but don't know what to enter in the Memo, Destination Tag, Message, or Payment ID field?

Don't worry, this guide has you covered!


In this Article:


What is a Memo, Destination Tag, Message, and Payment ID?

Memo
  • Cosmos (ATOM)
  • EOS (EOS)
  • Binance Coin (BNB)
  • Stellar Lumens (XLM)
Destination Tag
  • Ripple (XRP)
Message
  • NEM (XEM)
Payment ID
  • Monero (XMR)

There are no major differences between the purposes of a Memo, Destination Tag, Message, and Payment ID. They are all used to identify a transaction in order to credit an account.

For exchanges that have hundreds of thousands of customers trading these assets, it is not optimal to have individual wallet addresses for each customer. So every user can send to the one address and then the Memo, Destination Tag, Message, or Payment ID helps the exchange know which deposit belongs to which user.


Where do I enter a Memo, Destination Tag, Message or Payment ID while sending funds from Exodus?

Now that you know what these various tags are, how do you use them in Exodus?

Desktop:

Go to the wallet of the crypto of your choice that supports one of these methods then when you click Send you can make sure you add in the extra information as you will see below.

Mobile:

Go to the wallet of the crypto of your choice that supports one of these methods then when you tap the send icon on the left. Tap on the Advanced section so you can make sure you add in the extra information as you will see below.


What Memo, Destination Tag, Message, or Payment ID should I use when sending to Exodus?

Exodus creates a unique wallet address for each user and hence there is no need to include a Memo, Destination Tag, Message, or Payment ID when sending funds to Exodus.

If this is a mandatory field on the wallet or exchange you’re sending funds from, you can enter whatever you'd like in there. Your funds will arrive in Exodus as long as you have entered your correct wallet address.

Ripple (XRP) only accepts numbers in this field whereas you can enter letters and numbers for EOS (EOS) and Stellar Lumens (XLM). A Monero (XMR) payment ID must be 16 or 64 hexadecimal characters for XMR.


I sent funds from Exodus without a Memo, Destination Tag, Message, or Payment ID to a wallet or exchange which required it. What should I do?

If the receiving wallet requires a Memo, Destination Tag, Message or Payment ID and refuses to auto-process your deposits if the Memo, Destination Tag, Message or Payment ID 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. Therefore, be very, very careful when sending these cryptos from Exodus to another wallet.

To be even safer, you can always test with a smaller amount first to be sure that your transaction goes through.

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