Why do I need to fill in tags (tag/memo) when I withdraw or deposit certain cryptos?

Published on 22 Aug 2023Updated on 30 Oct 20242 min read264

Tag (tag/memo) is an unique digital string used to identify deposit address. It ensures the funds are credited to the correct address. OKX distributes different tags to users’ deposit addresses of certain cryptos requested by the network. Tag exist in pairs, one for each deposit address. You need to fill out both the deposit address and tag/memo before submitting a request. If this is not done, the funds may not be credited to the correct address.

For example, you can find both the deposit address and tag/memo on the deposit page in the screenshot below:

CT-app-deposit on chain with tag

Deposit page with both deposit address and tag

Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.

© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.