When Do I Need to Enter a Memo/Tag?

Modified on Tue, 16 Sep at 2:29 PM

A memo or destination tag is a short string of letters and/or numbers used to identify a transaction so that funds can be credited to the correct account.

1. Sending from CoolWallet → Exchange or Another Wallet

For exchanges: Most centralized exchanges use one shared wallet address for all customers. The memo/tag tells the exchange which account should receive the funds.
Action: Always check the deposit instructions on the exchange before sending. Enter the exact memo/tag they provide.
If missing or incorrect: Your funds may be delayed or lost.

2. Sending from Exchange → CoolWallet

CoolWallet is a non-custodial wallet with unique addresses. No memo/tag is required.
Simply send to your CoolWallet address—funds will be credited directly.

＊Before transferring your assets, please contact the exchange to confirm the required details.