Do you need a MEMO to send BNB (Binance Coin)? The answer will depend on the platform you are using. There will be different requirements for different crypto exchange platforms, so you need to check with your crypto exchange platform to see if you need to include MEMO in your BNB transactions. Otherwise, you might experience transaction issues, such as not getting your BNB tokens transferred to your wallet right away. This guide will help you understand about using MEMO in your BNB token transactions.
Some Crypto Exchange Platforms Will Require You to Write MEMO when Sending BNB and Other Tokens
A deposit MEMO or destination MEMO is something you need to write when sending BNB and other specific tokens on some crypto exchange platforms, such as Binance US. Failing to provide the MEMO in your transaction can lead to your transaction not getting through to your account, and you will need to contact the support team of the crypto exchange platform if you want to retrieve your deposit. So, MEMO is necessary in some exchange services to ensure that your deposit can get to your crypto wallet, as it has the role in identifying each transaction that comes to your wallet account.
Binance US, for instance, will require you to include a MEMO when you send BNB (Binance Coin) and other tokens, such as ATOM, XLM, EOS, HBAR, and other BEP2 tokens. So, before sending your BNB on any exchange service, be sure to check the deposit requirements, whether your crypto exchange platform requires you to write a MEMO or not.
You Don’t Need to Write MEMO when Sending BNB from Trust Wallet
Trust Wallet allows you to send BNB (Binance Coin) to other wallets or crypto exchange services. However, you don’t need to write MEMO when sending BNB tokens from Trust Wallet to other services. So, with Trust Wallet, you can send your BNB tokens without having to write any MEMO, and you can still deliver your tokens to the destination wallet with no problem.
Writing MEMO is only applicable when the platform asks you to do so. Also, it’s important to understand that writing MEMO when sending BNB tokens often has the primary purpose of helping the platform holder to identify your transaction, so that they can credit your BNB tokens to the proper crypto wallet account. Always check the crypto trading platform you are using, whether they require you to write MEMO as an essential requirement or just as an optional requirement.
MEMO is Optional, But Sometimes It Becomes Mandatory for You to Include It
Most crypto wallets and cryptocurrency exchange platforms will not require you to write MEMO when you send BNB tokens. Most of the time, it’s just an optional step to provide more details for your transaction. However, when it is necessary, you must write MEMO for your BNB transaction, as it will help you send the tokens to the right wallet. Not writing the MEMO can lead to your BNB tokens getting lost, or you might need to contact the support team to retrieve the BNB tokens you have sent.
Again, failing to write MEMO in your BNB transaction when it is mandatory for you to do so will lead you to some consequences. First, your transaction might not go through right away, meaning that you need to wait longer just to receive your BNB tokens. Second, you might need to pay bigger fees to retrieve your BNB tokens. In the case of Binance US, you will need to pay 5 times the regular fees if you forgot to write MEMO in your BNB transaction. Third, you will need to go through the hassles of informing the support team about your transaction details in case you forgot to include MEMO in your BNB transaction.
Conclusion
Writing MEMO might not be necessary when you use Trust Wallet or any other wallets that don’t require you to write MEMO in your BNB transactions. However, depending on the platform, it might be mandatory for you to write MEMO in your BNB transactions to identify your transactions and ensure that it will reach the recipient’s wallet address right away. So, it’s always important for you to check the MEMO requirements when you need to send BNB tokens to other wallets.
