What are Destination Tags?
A Destination Tag (or Memo) is used by blockchains like XRP to add extra transaction details. It works like a “payment reference” in bank transfers.
Other blockchains such as XLM, ZetaChain, KAVA, EOS, dYdX, and Axelar are supported at the firmware level but require a third-party wallet for transactions. Since the process for including Destination Tags varies between wallets, be sure to check the specific documentation of the third-party wallet you’re using to ensure transactions are processed correctly.
Since many users share the same deposit address on exchanges or hosted wallets, the Destination Tag ensures that the funds are credited to the correct account. Without it, transactions may be delayed or lost.
Receiving funds in your Trezor wallet
You don’t need a Destination Tag to receive funds in Trezor Suite. However, some exchanges require one when withdrawing to your wallet. If prompted, you can enter any number (e.g., 12345), as Trezor Suite does not use Destination Tags for receiving funds.
Sending funds from your Trezor wallet
Some exchanges require a Destination Tag when depositing funds.
Always check with the exchange before sending. If a Destination Tag is required and not included, your funds may be lost.
For example, when sending an XRP transaction, the memo/destination tag can be included by clicking on the Destination tag button on the send page of your XRP account:
A text box will appear where you can type in or paste the memo/destination tag given to you by the exchange or other payment recipient.
The image below shows an example of a memo/destination tag being provided by the Bitstamp exchange to a user attempting to make an XRP deposit with them:
This process is the same for all blockchains that use Destination Tags.