- Thread Author
- #1
Some exchanges are asking for deposit tag while depositing XRP in the exchange XRP address. What is this deposit tag, why is it required for depositing XRP alone, and is there any specific formatting required?
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Deposit tag for depositing XRP in exchange
- Thread starter neku
- Start date
A tag, or often called a memo, is proof of a deposit that will be credited to the user's account. In general, crypto exchanges and Faucetpay ask for a tag when you deposit XRP. The XRP tag and address will appear when you click deposit XRP.
It's a security measure they adopt for depositing crypto, I think it's unnecessary but they decided to do what, right?