This guide will teach you all about MEMOs (sometimes called deposit MEMOs or other names) and how to use them for the cryptocurrencies that require them on Binance.US.
What's in this guide?
- What is a MEMO?
- Which coins require a MEMO?
- Do I need to use a MEMO for withdrawals as well?
- What if I forgot to add the MEMO?
- How to use a Deposit MEMO
What is a MEMO?
A MEMO is an identifier code required in addition to a receive address when sending certain cryptocurrencies. Each MEMO code is tied to a unique wallet and helps to ensure that the transaction is sent to the correct recipient.
Using a MEMO for the cryptocurrencies that require it allows Binance.US to identify a deposit and credit the appropriate account. If you do not enter a MEMO, your transfer may not arrive at the destination without additional action.
Which coins require a MEMO?
A MEMO is required for certain coins such as:
- ATOM
- BAND
- BNB (BEP2)
- EOS
- FET
- HBAR
- KAVA
- POLYX
- WAX
- XLM
- ANY tokens sent on the Binance Chain network (BEP2)
Do I need to use a MEMO for withdrawals as well?
You must confirm whether or not the receiving address requires a MEMO. This should be done using the platform or wallet your are withdrawing to. Importantly, if a MEMO is required and it is not filled, or filled incorrectly, the asset may be lost.
Please keep in mind that other platforms or wallets may refer to a MEMO as a tag, tag name, memo (lower case), digital ID, label, or note.
What if I forgot to add the MEMO?
If you forget to add a MEMO there is the chance of loss of funds.
If you have forgotten to include the deposit MEMO for a deposit to your Binance.US account, please contact support. You will be asked to provide some information on the transaction. However, if you've forgotten to include the MEMO on a withdrawal intended for another wallet, please contact the wallet owner's support team.
In the case that your funds can be recovered, Binance.US will charge a recovery fee of five times the amount of the withdrawal fee for the token. To view our withdrawal fees please click here.
How to Use a Deposit MEMO
Please note: General information on depositing cryptocurrencies to your Binance.US wallet is available here. This section will deal specifically with how to use a Deposit MEMO for cryptocurrencies that require it.
This example refers to making a deposit, however, MEMOs may be required for withdrawals as well. You must check whether the external receiving address requires one.
On the web
1. Navigate to your "Wallet" page and click the deposit button on the top-right side of the screen.
2. Select the cryptocurrency you would like to deposit that requires a MEMO (for example BNB).
3. A notice will be shown to make sure you are aware that the chosen cryptocurrency requires a MEMO as well as an address. Click Understood.
4. You will be shown the Deposit Address and Deposit MEMO for your Binance.US wallet for the specific cryptocurrency you have chosen. Copy and Paste both the address and MEMO into the relevant fields when sending that crypto type from an outside wallet to your Binance.US wallet.
Note: You must input both the correct address and MEMO when creating the transaction to transfer the tokens successfully to your Binance.US account.
On the mobile app
1. From the mobile home screen, tap the Wallet icon on the bottom of your screen
2. Tap Deposit
3. Select a cryptocurrency that requires a deposit MEMO
4. You will receive a warning to make sure that you also include the MEMO (in addition to the wallet address) when depositing a cryptocurrency that requires it. Tap on Understood!
5. You will be shown the Deposit Address and Deposit MEMO for your Binance.US wallet for the specific cryptocurrency you have chosen. Copy and Paste both the address and MEMO into the relevant fields when sending that crypto type from an outside wallet to your Binance.US wallet.
Note: You must input both the correct address and MEMO when creating the transaction to transfer the tokens successfully to your Binance.US account.
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