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What is additional wallet information? What is a MEMO or Tag?

Some wallets and certain coins require additional wallet information as well as the wallet address for the asset to be received successfully; the additional wallet information may be referred to as a MEMO or Tag. This is due to some coins/wallets being centralised.

Always conduct your due diligence and research into your chosen wallet provider to ensure you know what wallet information is required to receive different assets. Your wallet should display all the wallet information to receive the relevant asset – always ensure you copy and paste all of the relevant wallet information.

Failure to include a MEMO or Tag can result in a loss of coin so always ensure you copy and paste all the relevant wallet information displayed within your wallet provider for the relevant asset.

There are also many wallets and coins that do not require additional wallet information so it is always best to ensure what wallet information you need when sending/receiving Cryptoassets.

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