Why do I need to enter a tag (Memo/Tag) when transferring assets from my CoolWallet to an exchange or another wallet?

A memo or destination tag is a piece of information, generally a string of letters/numbers, used to identify a transaction in order to credit the correct account.

For exchanges that have many customers, it is not optimal to have individual wallet addresses for each customer. Customers send to a single address and add a memo or destination tag to indicate which deposit belongs to which user.

＊Before transferring your assets, please contact the exchange to confirm the required details.