Understanding XRP Addresses and Destination Tags
XRP Addresses:
Every XRP address starts with an "r" followed by a long string of letters and numbers, e.g., rEXAMPLEr4b8KKmHqD1zjQEx3ipJhB1iE3.
They serve as the destination for your XRP transfers.
Destination Tags: What You Need to Know
Some exchanges and custodial wallets use destination tags to identify users who share a single XRP address.
💡 With Zengo, you don’t need a destination tag—each Zengo wallet has a unique XRP address. However, when sending XRP to an exchange, always check if a tag is required to avoid lost funds.
Sending XRP from Zengo: A Step-by-Step Breakdown
Initiate the Transaction:
Open your Zengo app and tap the "Send" button.
Select "XRP" from your list of cryptocurrencies.
Enter Recipient Details:
Carefully enter the recipient's XRP address. Double-check for accuracy and never copy the address from history - only directly from the wallet.
Destination Tag (If Required):
If you're sending to an exchange or a wallet that requires a destination tag, enter the tag in the designated field.
Verification is Key: Always verify the address and destination tag with the recipient or the exchange's official documentation.
Review and Confirm:
Zengo will display a transaction summary, including the recipient's address, destination tag (if applicable), and the amount of XRP you're sending.
Final Check: Take a moment to review all the details before confirming.
Confirm the transaction.
What happens if I send XRP to a wallet that does not have XRP activated?
The XRP Ledger requires a small amount of XRP to be held in reserve to activate a new account. If you send XRP to an address that has never been activated, the transaction will still be recorded on the XRP ledger. Still, the XRP will be held in an inaccessible state until the receiving address has the required reserve amount of XRP.
The reserve amount is subject to change, so always check the current required reserve on the XRP ledger.
XRP Minimum Reserve: Why You Can’t Send Your Entire Balance
The XRP Ledger requires every activated XRP account to maintain a minimum reserve balance, which cannot be spent or withdrawn.
This reserve ensures network efficiency and prevents spam transactions.
The minimum reserve is currently 1 XRP but is subject to change based on XRP Ledger rules.
You will only see your "Available Balance" in Zengo, which excludes the reserved amount.
Example:
If you have 30 XRP in your Zengo wallet, your Available Balance for transactions will be 29 XRP (since 1 XRP remains locked as the reserve).
💡 Before sending XRP from your Zengo wallet, always check your Available Balance to avoid confusion.
XRP Transaction Fees: Minimal and Transparent
Network Fees (Burned Fees):
XRP transactions incur a small network fee, typically around 0.00001 XRP.
This fee is burned and permanently removed from circulation, contributing to the network's security and preventing spam.
This fee is paid to the XRP ledger, not to Zengo.
Zengo's Fee Policy:
Zengo itself does not charge any additional fees for sending XRP. You only pay the standard XRP Ledger network fee.
External Fees: Exchanges or third-party services may apply withdrawal or processing fees. Always check their fee structures.
Receiving XRP in Zengo: Simple and Secure
Access Your XRP Address:
Open Zengo and tap the "Receive" button.
Select "XRP."
Your unique Zengo XRP address will be displayed.
Share Your Address:
Copy your XRP address and share it with the sender.
No Destination Tag Needed: Remember, you do not need to provide a destination tag to receive XRP in Zengo.
Key Takeaways:
Always double-check the recipient's XRP address and destination tag (if required).
Zengo simplifies XRP transactions by eliminating the need for destination tags when sending to other Zengo users.
XRP network fees are minimal, and Zengo does not add extra costs.
Understand that sending to a new XRP address (an unactivated XRP address) will make the funds inaccessible until the address is activated.