Memo/Tag/Message/message – a special combination of letters and numbers that are needed to transfer XRP, BNB, XLM, EOS, XEM, Terra 2.0 LUNA, Cosmos ATOM to a specific XRP, BNB, XLM, EOS, XEM, Terra 2.0 wallet user LUNA, Cosmos ATOM. If the recipient of the transfer requires you to provide a Tag/MEMO, you simply must do so. Otherwise, the translation may be lost.
The /MEMO/message tag is an additional note to the address that is required to identify the recipient of the transaction in addition to the wallet address. Most centralized exchanges use one address for all addresses for coins like XRP, BNB, XLM, EOS, XEM, Terra 2.0 LUNA, and Cosmos ATOM. Thus, the Tag/MEMO/message is needed to determine which actual individual account the transaction in question should be destined to and credited to.
Example: you can equate the address to which you want to send the above cryptocurrency to the address in an apartment building. The /MEMO/message tag is needed to determine which apartment of this house you live in.
YOUR wallet may not have a tag. In this case, FOR RECEIVING, this field must be left empty. When SENDING us TO OUR details and TAG / MEMO, as well as the address, are needed to successfully deposit coins into our account.