Memo, tag and comment
Why XRP, Stellar, TON, Cosmos chains and others use a second field for exchange deposits, what each one is called, and what happens without it.
Why a second field
On account-based networks an exchange often uses one deposit address for many customers. The memo (Stellar, Cosmos chains), destination tag (XRP Ledger) or comment (TON) tells the exchange whose deposit it is. The address alone is correct; without the second field the exchange cannot match the deposit to an account automatically.
Whether it is needed is the recipient's rule
The network does not require a memo. The exchange or service does, and only its deposit page can say so. If a deposit page shows a memo or tag, it has to be entered. A private wallet does not need one.
Formats
- XRP Ledger destination tag: a whole number from 0 to 4,294,967,295 (32 bits).
- Stellar memo: text up to 28 bytes, an ID (64-bit number), or a 32-byte hash.
- TON comment: free text attached to the transfer.
- Cosmos SDK chains: a free-text memo field.
- XRP X-addresses and Stellar M… addresses carry the tag or ID inside the address itself.
FAQ
What happens if I forget the memo?
The coins arrive at the exchange's address but are not credited to an account automatically. Contact the exchange's support with the transaction ID; many can credit it manually.
Does my own wallet need a memo?
No. A memo or tag is needed only when the recipient says so, usually an exchange.