What is Tag/Memo?

Tag/Memo is a unique identifier designed specifically for deposit transactions of certain cryptocurrencies. It helps distinguish funds from different users. On cryptocurrency exchanges, certain blockchains (such as XEM, XLM, XRP, KAVA, ATOM, BAND, EOS, and BNB) use shared public addresses for receiving deposits. These addresses are typically managed uniformly by the exchange, making it difficult for the platform to identify the specific source and ownership of deposits without the additional Tag/Memo information. Thus, Tag/Memo acts as an “identity label” to ensure your deposit is accurately credited to your personal account.

Why is Tag/Memo Required for Some Cryptocurrency Deposits?

Entering the correct Tag/Memo is essential for successful deposits of specific cryptocurrencies. Its primary functions include:

  1. Precise Fund Allocation: Tag/Memo provides the exchange with additional transaction identification details, ensuring your deposit is correctly recorded to your account and not confused with those of other users.

  2. Improved Transaction Efficiency: A correct Tag/Memo speeds up deposit processing by reducing the need for manual verification.

  3. Prevention of Fund Loss: Omitting or entering an incorrect Tag/Memo may prevent automatic crediting, potentially requiring additional technical support to recover the funds.

Which Cryptocurrencies Require Tag/Memo?

Currently, several mainstream cryptocurrencies require a Tag/Memo for deposits, including but not limited to:

XEM（NEM）

XLM（Stellar）

XRP（Ripple）

KAVA

ATOM（Cosmos）

BAND（Band Protocol）

EOS

BNB（Binance Coin）

📌Before depositing, always verify if your wallet or platform generates a dedicated Tag/Memo for the cryptocurrency in question, and ensure it is entered correctly during the transfer.

How to Use Tag/Memo Correctly?

  1. Verify Tag/Memo: On the LBank platform or other exchanges, the deposit page will provide your dedicated Tag/Memo (typically a string of numbers or characters).

  2. Enter Carefully: In your wallet or transfer platform, input the Tag/Memo along with the deposit address, double-checking for accuracy.

  3. Keep Records: Retain transaction details (including Tag/Memo and transaction hash) for reference, in case verification with customer support is needed.

What If You Omit or Enter the Wrong Tag/Memo?

If you forget to enter the Tag/Memo or enter it incorrectly during a deposit, your funds may not be credited immediately. In such cases, contact LBank’s online support ([email protected]) right away, providing the following information to assist in fund recovery:

  1. Deposit transaction hash (Transaction ID/TXID)

  2. Cryptocurrency type and amount deposited

  3. Deposit time and source wallet address

Still Need Help?

If you have further questions or cannot resolve the issue, please visit the LBank official website (https://www.lbank.com) or contact our support team at [email protected]. We are committed to providing you with a secure and seamless trading experience!