Looking to send Ripple (XRP), Binance Coin (BNB ) from Klever wallet to an exchange or platform but don't know what to do with the memo, destination tag.
A memo, destination tag is used to identify a transaction in order to credit an account.
For exchanges that have hundreds of thousands of customers, it is not optimal to have individual wallet addresses for each customer. Customers send to a single address and add a memo/destination tag, to indicate which deposit belongs to which user and which can be sourced from the exchange/wallet which user is trying to send the coins.
What memo/ destination tag should I use when sending to Klever?
Klever is a pure blockchain wallet which creates a unique wallet address for each user and hence there is no need to include a Memo/Destination Tag when sending funds to Klever.
If this is a mandatory field on the wallet or exchange you’re sending funds from, you can enter whatever you'd like in there. Your funds will arrive in Klever wallet as long as you have entered your correct wallet address.
Ripple (XRP) only accepts numbers in this field whereas you can enter letters and numbers for Binance coin (BNB)
I sent funds from Klever without a memo, destination tag to a wallet or exchange which required it. What should I do?
If the receiving wallet requires a memo, destination tag and refuses to auto-process your deposits if the memo/destination tag is missing, there is nothing we at Klever can do as the funds have left your Klever wallet.
Please contact the receiving wallet owner or support team with the transaction hash/id and request them to manually verify and credit your deposit.
There are some wallets/exchanges which do not offer any support for such mistakes. Therefore, be very careful when sending these cryptos from Klever to another wallet or exchange.
To be even safer, you can always test with a small amount to be sure that your transaction goes through.