Dec 29, · Destination tag is used in XRP transactions. It is the most tricky thing you should be extremely careful with. If you send XRP to Changelly, you should specify a destination tag when sending. The generated tag is tied to the recipient’s address, so that Changelly automatically sends money to that address, once it gets confirmation from the Operating System: WINDOWS, OSX, IOS, ANDROID. BTC Markets announces Caroline Bowler as CEO; NPP Withdrawals at BTC Markets ; Advanced Order Types; BTC Markets 17th Largest Exchange Globally; Tax Reporting Now Available; Bitcoin Cash (BCH) Hard Fork ; View all articles. Destination Tag is a technology that defines the specific recipient of the transaction. You can notice that you have the same XRP address as the other user on the exchange service. It happens since exchanges often use a one XRP address for all their XRP traders.
Btc markets destination tagHelp with Wallets – BTC Markets
John is about to exchange XRP to Bitcoin. He sees a screen below:. John opens his wallet app, puts in our wallet address. The tag is unnecessary stuff. This is the very moment John makes a terrible mistake because is the tag tied to a wallet address of another Changelly user who is obviously not John! Once XRP is sent it will go to the wallet address provided by that user, and John will lose his money forever! Poor John.
Only in this case, your transaction will pass through in the right way. If you omit it or specify incorrectly, your transaction will not pass through. You will have to send to our support team a request so that we can process your stuck transaction manually. The Memo is unique supplementary information used in transactions with a range of cryptos listed on Changelly , such as Stellar, Steem and Decent. Although Memo works similarly in all these platforms, it is important to mention that they utilize different algorithms.
For all of them, entering the Memo is a mandatory measure. When sending either, you must indicate your memo, so that our machine will know that the transaction comes from you. If the memo is omitted or incorrect… well, now you know the outcome. Changelly will have to process your transaction in a correct way.
It requires you to report us about the issue. Please bear in mind that the screenshots above are just an example. All Destination tags, Messages and Memos are unique for each our user. Never use the given examples for your own transactions.
Always provide this information, if required. Otherwise, your money will be sent as an unassigned transaction to your wallet provider, and you will have to contact their support team trying hard to prove that the transaction belongs to you.
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What is Destination Tag? What is a unique wallet address? Any other custody-free Ripple wallet with a unique address will ask you for it. Do you like the article? Cryptocurrency: Beginners Guide. Aug 23 Block Explorer: Explained.
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