Understanding XRP Transfers
Before starting any XRP transaction, it's crucial to understand two key components:
- Wallet Address: Your unique XRP address that receives funds
- Destination Tag: A numeric code that helps exchanges and platforms identify your specific account
How to Send XRP
To send XRP to an external wallet, follow these steps:
1. Open the Portfolio Page: Launch your cryptocurrency app and navigate to the Portfolio section.
2. Initiate Withdrawal: Tap the Withdraw button and select Send Crypto.
3. Choose Sending Option: Select your preferred option for sending. If you are transferring externally, ensure you enter the recipient’s wallet address and destination tag (if required).
If the receiving address does not have a destination tag, kindly tick the box below. Read here for more info on destination tags.
4. Review Details: Double-check all entered information before confirming the transaction.
5. Confirm Transaction: Tap on Confirm and wait for the TXID (transaction ID), which serves as your proof of payment.
Important Reminder: If you are unsure whether a destination tag is needed, contact the recipient or check with their wallet platform. Failing to include a required destination tag may result in permanent loss of funds.
How to Receive XRP
Receiving XRP is straightforward:
1. Access Deposit Option: Tap the Deposit button on the Home page, then select Receive Crypto.
2. Select Your Wallet: Choose the wallet where you want to deposit, XRP.
3. Get Wallet Address and Tag: Select XRP from the list to view your wallet address, destination tag, and QR code. You can also click on the QR icon to access your code easily.
Note: You can also simply click the QR icon on the upper right corner of the app until you reach the "My Code" page.
Simply click the Receive currency button on top to select XRP or the cryptocurrency you plan to receive.
Frequently Asked Questions
What is a destination tag and why is it important?
A destination tag is a numeric identifier that helps platforms route XRP to your specific account. Without it, your funds might be lost if the receiving platform requires one.
What if I forget to include a destination tag?
Funds sent without a required destination tag may be lost permanently. Always double check the recipient details of your transaction.