Receiving Coins into CoinSpot

When depositing coins into CoinSpot, there may be additional steps required for a successful completion of your coin deposit. Some coins may require a Destination Tag/Memo ID or a Destination Tag/Memo ID + Manual Deposit form. To ensure that the coins are sent in correctly, please also ensure the coins are sent via the correct Transfer Network.

What is in this article?

• Destination Tag/Memo ID
• Destination Tag/Memo ID & Manual Deposit
• Transfer Network
• Coin Deposit Recovery

Destination Tag/Memo ID

A Destination Tag/Memo ID, is a unique identifier which is assigned to each recipient of a transaction.

If you are depositing coins into CoinSpot that requires a unique Destination Tag/Memo ID this can be located under the Receives Tab for that specific coin which requires a Tag/Memo. 

For a visual example of locating Destination Tag/Memo ID, please have a read of our article here.

List of coins that requires users to include their unique Destination Tag/Memo ID

                                     Figure 1. Receiving into CoinSpot - (Destination Tag/Memo ID)

*BNB (BNB), Ethereum Classic (ETC) & Fantom (FTM) - Please do note the following has multiple receiving transfer networks, if users are using BNB BEP-2 Transfer Network, a memo is required.

Destination Tag/Memo ID & Manual Deposit

When sending your coins to your CoinSpot account, please do note that some coins require you to enter your Memo ID/Destination Tag along with submitting a Manual Deposit form.

Forgetting to include your Destination Tag/Memo ID for these coins may result in loss of funds. If you do send in coins without a Destination Tag/Memo ID please contact us and our Support team will be able to assist you further.

For a visual example of Destination Tag/Memo ID + Manual Deposit, please have a read of our article here.

List of coins which requires Destination Tag/Memo ID & Manual Deposit form

                                     Figure 2. Receiving into CoinSpot - (Memo ID & Manual Deposit form)

Transfer Networks

Each coin has a different transfer network from one another. 

To determine the transfer network when sending coins into CoinSpot, head on over to your coins wallet page and under the Receives Tab you will be able to review which transfer network is accepted.

Below we have provided an example regarding the supported transfer network when transferring ETH.

                                     Figure 3. Receiving into CoinSpot - (Transfer Networks)

Coin Deposit Recovery

If coin deposits have been made to CoinSpot utilising invalid details, transfer network or sending in coins that are not listed on CoinSpot. This may require a recovery of assets.

We have provided a direct link to our CoinSpot's Coin Deposit Recovery Policy article, which highlights the requirements to lodge an asset recovery and further information.

Need more help?

Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new

or start a conversation with us via Live Chat and our team will provide full instructions and advice.