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  5. Importance of XRP Wallets and Destination Tags

Importance of XRP Wallets and Destination Tags

Your XRP wallets serve as the primary locations where funds are deposited, traded, and transferred between exchanges to support automated trading. To ensure accurate processing, you must copy both your XRP wallet address and the associated destination tag from each of your exchange accounts into your Idatco account.

Note that many exchanges use a shared XRP deposit address for all users and rely on the destination tag to identify individual accounts. Omitting or entering an incorrect destination tag can result in lost funds. Alternatively, some platforms support the newer X-address format, which combines the wallet address and destination tag into a single string, simplifying deposits.

Always double-check your XRP address and tag information before entering it into Idatco to avoid errors and ensure smooth automated trading.

These wallet addresses are often referred to as Receive or Deposit wallet addresses, depending on the exchange.

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