When depositing XRP into your Coins.ph wallet, it is essential to include the correct destination tag along with your wallet address. This tag acts as a unique identifier for your transaction, ensuring that your funds are credited to the right account. If you mistakenly enter the wrong destination tag, your XRP may be sent to another user’s wallet, which can complicate recovery efforts.
Understanding the Destination Tag
The destination tag is a crucial part of sending XRP. It helps Coins.ph identify which user's account should receive the funds. Without the correct tag, transactions can become problematic and may lead to lost funds.
What To Do If You Entered the Wrong Destination Tag
If you realize that you have used an incorrect destination tag, follow these steps:
1. Collect Required Information:
- Transaction hash or Hash Link of the incoming transfer;
- The sending wallet platform that you used, and
- Screen recording or Video from your sending platform's withdrawal history
2. Contact Coins.ph Support:
Reach out to Coins Support to submit your recovery request.
3. Recovery Process:
Coins.ph will conduct an internal investigation to attempt recovery of your XRP. However, recovery is not guaranteed and will be at their discretion.
Recovery Fees
If Coins.ph successfully recovers your funds, a fee will apply. The fees for recovery attempts are as follows:
| Types of Deposits | Fees |
| Wrong Destination Tag/Memo (with/without owner) | 5 USD |
| Sent to Coins' Sending Address | 5 USD |
| Unsupported Token/Network | 50 USD (if recoverable) |
Important Considerations
- Finality of Transactions: Cryptocurrency transactions on the blockchain are generally final and irreversible. Once a transaction is confirmed, it cannot be undone.
- Due Diligence: Always double-check both your wallet address and destination tag before initiating any transfer to avoid complications.
Frequently Asked Questions
How Do I Find My XRP Destination Tag?
To find your destination tag:
- Log into your Coins account.
- Click Deposit button on the Home tab.
- Look for the destination tag associated with your XRP address.
Read here to know more about how to send and receive XRP.