What is a tag/memo and why is it needed for crypto deposits?
- A tag/memo is a unique identifier used to associate deposits with the correct user account in cryptocurrency transactions. It helps distinguish the source of funds when multiple users utilize the same address.
- By including a tag/memo with the transaction, users provide additional information that allows the exchange to correctly attribute the funds to the corresponding user account.
- Some cryptocurrencies, such as XEM, XLM, XRP, KAVA, ATOM, BAND, EOS, BNB, require the correct tag/memo to ensure successful deposits.
If you made a crypto deposit without including the required tag/memo, you can contact LBank's online live chat support directly and provide all the necessary details needed for the recovery.
The recovery process can take some time, so please be patient. LBank's support will notify you once your funds have been credited to your account successfully.
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For any assistance, please contact us at our official email service@lbank.com. We are dedicated to providing quality, professional and prompt support.
Disclaimer: Digital assets are subject to high market risks and price volatility. The value of your investments may fluctuate, and could even lead to a loss of principal. You are solely responsible for your investment decisions, and LBank is not liable for any losses you may incur. You should invest only in products you are familiar with and understand the risks involved. You should carefully consider your investment experience, financial status, investment objectives, and risk tolerance, and consult an independent financial advisor before any investment. Past performance is not a reliable indicator of future performance. Content on the LBank platform does not include advice or recommendations, and should not be construed as financial advice.
LBank reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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