Receiving crypto from exchanges & services — memos, tags & issues

Quick summary

Sending crypto from an exchange or payout service to your hardware wallet is routine — until it isn't. Missing a destination tag, choosing the wrong network (for example, USDT on TRC20 vs ERC20), or not verifying the address on your device are the most common causes of lost or delayed funds. What I've found in testing and support cases: most problems are recoverable if you act fast, but recovery can be slow and sometimes costly.

Why memos, destination tags and payment IDs matter

Some blockchains attach optional or required metadata to a transfer. Exchanges and custodial services often use one receiving address for many users and rely on that metadata to credit a specific account. Examples:

XRP: uses a numeric "destination tag". See the XRPL docs: https://xrpl.org/destination-tags.html
Stellar (XLM): uses a memo field (text, id, or hash). See Stellar docs: https://developers.stellar.org/docs/glossary/memo/
EOS, BNB chain and several centralized services also use memos or tags.

If you omit the required tag, the coins often land at the exchange's pooled address but aren't credited to your account automatically. That is the root cause of many support tickets.

Step-by-step: receive safely from an exchange or service

Open the correct account/app in your companion software and unlock your hardware wallet. (I always do this first.)
Request a receive address from the companion app. Always verify the full address on the hardware wallet screen itself. The device display is the single source of truth.
In the exchange withdrawal form, paste the exact address. Do not type it manually. Do not use address screenshots copied into chat apps. But always verify the address one last time on your device. And yes, test with a very small amount first.
If the receive screen shows a separate "destination tag", "memo" or "payment ID", copy that into the exchange's tag/memo field. If the exchange asks for both an address and a memo field, you must fill both when required.
Select the correct network on the exchange (ERC20 vs TRC20 vs Solana etc.). If you choose the wrong network, funds may not be accessible from your hardware wallet.
Confirm and send. Monitor the transaction on a blockchain explorer using the txid.

For companion-app details, see the guide on send & receive and account setup at add accounts & apps.

![placeholder: example receive screen on device showing address and destination tag]

Common problems, causes and fixes (table)

Symptom	Likely cause	What to do next
Deposit shows in exchange as "completed" but not in your hardware wallet	Missing destination tag / memo; or exchange used a pooled address	Open support ticket with the exchange; provide txid, amounts, addresses, timestamp (see recovery checklist below)
Hardware wallet app shows 0 balance or 0 USD	Account not added in companion app; fiat-price API down; token on a different chain	Add the account in the app (add accounts & apps); check supported networks (supported coins)
USDT received but not visible	Token sent on different chain (TRC20 vs ERC20 vs Solana)	Contact exchange; provide txid and details; check usdt guide
Funds sent to wrong network/address with no memo	Wrong network + no memo = manual recovery required (may be impossible)	Contact sender/exchange right away; prepare proof for recovery

Real-world scenarios: XRP from Kraken, NiceHash payouts, USDT confusion

Scenario: I withdrew XRP from a major exchange to my hardware wallet and the balance stayed at zero.

The most common explanation is a missing or incorrect destination tag. Exchanges like Kraken (and most major custodians) require or display a destination tag for XRP withdrawals. Always copy the tag shown in your device's receive screen into the exchange withdrawal form. See the XRP destination tag documentation: https://xrpl.org/destination-tags.html. (If you used Kraken specifically, check their support center for the latest deposit/withdrawal instructions.)

Will NiceHash payout straight to a hardware wallet?

Many payout services, including NiceHash, can pay directly to an externally provided address. You must provide an address that is compatible with the coin/network they are paying on, and meet any minimum payout thresholds. Always confirm supported payout coins and networks on the service's help pages before you enter your hardware-wallet address. See NiceHash help: https://support.nicehash.com/hc/en-us (search "payouts").

USDT not showing ("tether ledger show usdt")?

USDT exists on multiple blockchains (Omni/Bitcoin historically, ERC20 on Ethereum, TRC20 on Tron, plus others). If the exchange sent USDT on TRC20 but you were monitoring an ERC20 address, it will not appear. Check which network the exchange used and compare with the wallet app's supported networks. Tether's FAQ lists common networks: https://tether.to/en/faq/.

If you (or the sender) forgot the memo / tag: recovery workflow

Collect transaction details: txid/hash, sending address, receiving address, amount, timestamp, and the wallet address shown on your hardware device.
Open a support ticket with the sender (exchange/service). Use their "deposit/withdrawal recovery" option if available.
Ask whether the exchange can credit funds from a pooled address (many can) and whether a recovery fee applies. Recovery time varies (days to weeks), and fees vary by provider.
Keep records. You may be asked to prove ownership of the receiving address (sign a message if the exchange requires it).

Be prepared for friction. In my experience, recovery usually works when the sender controls the pooled address, but it's not instantaneous.

Preventative checklist before every withdrawal

Open the matching account in your companion app and verify the address on the device.
Check for a destination tag/memo on the receive screen and copy it into the exchange's memo field.
Confirm the network on the exchange (ERC20 vs TRC20 vs Solana etc.).
Send a small test amount first (e.g., the minimum non-zero value your service accepts).
Keep txid and screenshot of the receive screen (not of private keys) for recovery.

But don't share your seed phrase or device PIN in any support ticket. Ever.

FAQ

Q: My hardware wallet app shows an account balance but the companion app says "0 USD." Why?

A: Fiat display requires market data and the account to be added to the app's portfolio. If the account isn't added or the price API is down, the app can show a 0 USD equivalent while the crypto balance is correct. Add the account (add accounts & apps) and verify the token is supported (supported coins).

Q: Will NiceHash pay directly to a hardware wallet address?

A: Often yes, provided you supply a compatible address for the payout coin and meet any minimums. Check the service's payout help pages and test with a small amount first (see NiceHash support: https://support.nicehash.com/hc/en-us).

Q: I sent XRP without a destination tag — can I get it back?

A: Contact the sender immediately with txid, addresses and timestamps. Many exchanges can recover funds credited to pooled addresses, but the process requires support intervention and possibly a fee. See XRPL destination tag docs for background: https://xrpl.org/destination-tags.html.

Final thoughts & next steps (CTA)

Memos, tags and network choices cause most of the friction I see when people move funds from exchanges to a hardware wallet. Short tests and address verification on the device remove almost all risk. What I've found after years of testing: careful habits cost minutes and save real money.

If you want step-by-step visuals, see the receive walkthrough in send & receive and check common troubleshooting steps at troubleshooting-connection. If a transfer goes wrong, open a ticket with the sending service immediately and gather the txid plus screenshots and timestamps — those items are the recovery team's best helpers.

And if you need a quick checklist to print and keep beside your keyboard, copy the Preventative checklist above and use it every time you withdraw.