What is a Destination Tag/Memo?
A Destination Tag/Memo is an additional address feature necessary for identifying a transaction recipient beyond a wallet address.
Why is this needed?
For cryptocurrencies that use destination tag/memo technology, most centralized exchanges (like Coinbase) use one wallet address for all traders. The tag/memo is used to determine the individual account a transaction should be credited to.
Example: Wallet address + unique destination tag/memo = correct recipient