Moving cryptocurrencies from a wallet to an exchange, or vice versa, isn’t always straightforward. Utilities like MetaMask try to simplify these processes, but every platform operates a little differently.
MetaMask doesn’t need a memo to receive BNB. However, you may need to enter a memo if you’re moving BNB out of MetaMask and into a cryptocurrency exchange.
Memos aren’t always required, but they’re very important when they are. In the rest of the article, we’ll explain a little more about using memos, as well as when you do and don’t need them on MetaMask.
What Is the Purpose of a Memo in Cryptocurrency Transactions?
Sometimes the wallet address isn’t enough information when transferring cryptocurrencies, and memos essentially act as an extra identifier.
The purpose of a memo in cryptocurrency transactions is to ensure your funds make it to the right place. The memo or “tag” you enter on your transfer matches up with one on the recipient’s end. Without this identifier, the funds might be misplaced and difficult, if not impossible, to recover.
This is because some crypto exchanges like
Knowing this address will get your funds to the
Part of this is because some cryptocurrencies require a minimum balance to open up a wallet. Exchanges like
If the memo you enter doesn’t match up with the destination, your cryptocurrency will either need to be recovered from the wallet or wind up in somebody else’s account. It is essential to get this step right, since you could end up losing your cryptocurrency if you forget or mistype your memo.
Moving BNB From MetaMask to an Exchange
Whether you’re moving your BNB to Coinbase,
As explained above,
You’ll typically get the memo from the receiving account, and you’ll be able to copy it onto the transaction screen before you send the funds over.
Binance, for example, will typically tell you if a memo is required before making a deposit and will give you the option to copy it. If you forget to enter the memo on the crypto platform you’re pulling from, you risk losing your funds.
How To Add a Memo on MetaMask
Usually, if a memo is required, there’ll be a field to enter the information on the MetaMask screen.
However, if you think a memo is required and you don’t see this field, you might be able to adjust the MetaMask settings to produce an alternate entry box.
According to the MetaMask support page, you can add memos to a transaction by enabling a hex data field. If you’re using the browser extension, you can do this through the following pathway:
- Settings >
- Advanced >
- Show Hex Data.
Once you click to show hex data, a box should appear on the transaction screen where you can enter memo information.
How To Send BNB to MetaMask Without a Memo
Your MetaMask wallet isn’t a shared wallet, and you control both the public and private key. For this reason, you typically won’t need a memo when moving BNB from an exchange or another private wallet to your MetaMask account. The deposit goes directly to you, so there’s no need for an extra identifier.
However, there are still some things that may be required to ensure the funds show up where they’re supposed to be.
For example, you’ll typically need to change the network in your MetaMask account to the Binance Smart Chain Network. Usually, MetaMask defaults to a different network, so you’ll have to change this manually. The YouTube video below will show you how to connect the
Once you have the
- Log in to both your MetaMask and
- Copy your BNB address from MetaMask.
- Go to your
Binancewallet and find your BNB coin balance.
- Choose “withdrawal.”
- Enter the BNB address you copied from
- Choose or type the BEP20 network.
- Enter the amount you’d like to withdraw.
- Click “withdrawal” again.
Since there’s no memo requirement for moving BNB into your MetaMask account, you won’t have to worry about your cryptocurrency getting lost.
What To Put in Memo Field if It’s Not Required
In many cases, the memo field on a transaction is labeled as “optional,” and this is because it’s not always required. If you know that a memo isn’t required for your transaction, you can leave this field blank (if it’ll let you) or enter any word that you want.
If there’s no matching memo on the recipient’s end, it won’t really matter what you put into the memo field. Choose something that you are comfortable with if you wish to enter a word.
What Happens if You Forget To Enter a Memo on a BNB Transaction?
It’s important to enter a memo when sending BNB to
If you forget to enter a memo on a BNB transaction, you can follow
However, many crypto exchanges aren’t very quick to help you recover your assets.
Binance, or any other exchange, will only be able to assist with deposits into the exchange. If you’re withdrawing from
In some cases, the funds might be completely unrecoverable, especially if the platform you sent the funds to doesn’t have a robust recovery system. Some transaction screens will force you to enter something into the memo field before proceeding, but you’ll still need to make sure it’s typed correctly.
This is why entering a memo correctly is extremely important for transferring funds to a wallet that’s shared by many accounts.
Generally speaking, you don’t need a memo to deposit BNB into your MetaMask wallet. You control both the public and private key to this wallet, so whatever you send goes directly to you.
On the other hand, sending BNB out of MetaMask may require you to enter a memo or destination tag. Without this tag, the receiving wallet may not know who the funds are meant for. If your cryptocurrency is lost due to a forgotten or mistyped tag, it’s possible that you won’t be able to get it back.