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How to deposit XLM on BitBay?

24-04-2019


Due to a large number of questions about XLM deposits on BitBay, we created a short guide.

To deposit Lumens (XLM) on your BitBay account, you'll need the following things:

  • Your deposit address,
  • Memo ID,
  • Some of this cryptocurrency.

What is Memo ID?

It's your unique account deposit ID for XLM deposits. It's necessary to account your Lumens deposit correctly. Without Memo ID we are unable to identify a recipient of deposit which creates significant problems with recovering funds.

Where do I find deposit address and Memo ID?

You can find these after logging into your BitBay account in Wallets tab -> XLM -> Deposit (look pic.1).

(pic.1)

Having all necessary things we start a transfer from a wallet (here: Blockchain.com)(pic.2).

  • In "To" tab paste your deposit address,
  • "Enter amount" - type in an XLM amount you want to send,
  • "Description" - type in a comment (optional),
  • "Memo" - enter your unique deposit ID (Memo ID).

Important! - before you accept the transfer doublecheck if all the data is correct.

(pic.2)

We want to remind, that you can withdraw FIAT currencies via the following methods:

Remember that you can withdraw funds via bank transfer only to the bank account from which you made the deposit!