MEXC Global: What is a Ripple Destination Tag?

If you are new to cryptocurrency trading, you may have doubts about destination tags. If you do not enter this tag when trading Ripple, it will be difficult to distinguish, so be careful of omissions.

MEXC Global: Is MEXC dangerous? Do you have a bad reputation?

MEXC is one of the world's most famous cryptocurrency exchanges. The reputation of MEXC is also introduced in the following article, so please refer to it. Does MEXC have bad rumors and reputation this time? I am writing an article about it.

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2024.04.10

What is a destination tag?

The destination tag is the information required for Ripple remittance. This is the information to determine whether the remitted XRP is yours, so if you do not enter this, the remittance will fail. Untagged XRP cannot be confirmed and will not be reflected in your account, so input is a mandatory condition. Of course, this is the information you need when making XRP remittances with MEXC.

Why you need a destination tag

There is no destination tag for general cryptocurrency remittances, but the reason why a destination tag is required for XRP transactions is that there are multiple destinations. XRP is capable of high-speed transaction processing, and if multiple users are trading XRP on the same exchange, the remittance address may be the same. In that case, if you do not use the destination tag, the transfer may not be performed correctly. If you enter the destination tag incorrectly, your transfer may fail, so be careful.

How to use destination tags and notes

When sending XRP, you need to check the destination tag format used by your exchange and enter the destination tag accordingly. Destination tags can vary by exchange, so check the format of the destination tag used by your exchange. In some exchanges, the support center or help page explains how to handle destination tags. Therefore, we recommend that you always read it before sending money. Destination tags cannot be reused once used. If the transaction is canceled, you will need to generate a new destination tag.

Steps to send XRP

We will explain how to transfer XRP from MEXC. First, log in to the service and select “Wallet” from the home page. From there, select “Remittance”. When exchanging coins yourself, it is absolutely necessary to correspond and input the specified tag when sending. This information is absolutely necessary for management and authentication.

Source : MEXC

If you select XRP as the currency, you will be prompted to enter the network address and tag, so be sure to enter them. If you forget it, you will not be able to send money. When you have finished entering the information, click Submit to complete the transaction.

Source : MEXC

Open an account for free

MEXC can open an account for free. The process is very simple and will be over in no time. There is no risk, so open an account and try trading.

MEXC Global: Free account opening and identity verification KYC explanation Introducing the registration procedure

This article will explain the trading hours and methods after opening and registering an account at MEXC Global (virtual currency exchange). MEXC is a cryptocurrency exchange based in Singapore. Since this exchange is based in Asia, many users from the Asian region are registered, and there are over 7 million users trading around the world. This article is about opening an account for trading. You can open a MEXC Global account for free. Furthermore, there are plenty of bonuses and campaigns, and there are also mx tokens, so it is recommended for beginners. We will explain how to register.

www.coinexchageworld.com

2024.04.10