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XLM Memos Explained

On Stellar, a memo is extra information attached to a transaction. Some exchanges use a shared Stellar address for many customers, so the memo tells the exchange which account should receive the deposit.

Is an XLM memo the same as a destination tag?

They serve a similar purpose on some platforms, but they are not the same field across every blockchain. For Stellar, follow the receiving platform's instructions and use the exact memo value it provides.

When do you need a memo?

  • When the receiving exchange explicitly provides one.
  • When a custodial service tells you the memo is required to credit your account.
  • Not necessarily when sending to a personal self-custody wallet that gives you a unique Stellar address.
Important: Never guess a memo. If a platform requires one, copy the exact value from its deposit screen. If you're unsure, stop and verify before sending.