How to Send Crypto Safely: Exchange → Ledger & Exchange → Exchange (with Tags)

Hey, it’s Lanzo 👋
So, you’re ready to send crypto safely? Nice!
There are two common moves:

1. Exchange → Ledger wallet (self-custody safety vault 🏰)
2. Exchange → Exchange transfer (like Binance → Bybit), where destination tags/memos come into play.

Let’s break it down so you never lose a coin. ⚡

We’ll cover:

• Part 1: Sending Crypto from Exchange to Ledger Wallet
• Part 2: Sending Crypto from Exchange to Exchange (with Destination Tag)
• TL;DR
• FAQ

Part 1: Sending Crypto from Exchange to Ledger Wallet

Step 1: Get Your Ledger Address 🔑

• Open Ledger Live.
• Choose the coin (e.g. Bitcoin, Ethereum, XRP).
• Click Receive → Verify address on your Ledger device screen.
• Copy it safely.

This is how you withdraw crypto to Ledger without mistakes.

👉 Check my Ledger Nano X Guide for a full walkthrough.

Step 2: Withdraw from Exchange 💻

• Log in to your exchange (e.g. Bybit Exchange Review).
• Go to Withdraw/Send.
• Paste your Ledger address.
• Enter the amount.

Step 3: Choose the Right Network 🌐

Exchanges often give you network options (e.g. ERC20, TRC20, BEP20, BTC, XRPL).

• Always match the network with what Ledger Live shows for that coin.
• If you’re not 100% sure → choose the default mainnet (BTC for Bitcoin, ERC20 for ETH, XRPL for XRP).
• ⚠️ Wrong network = funds lost forever.

Step 4: Confirm & Verify ✅

• Double-check the first/last characters of the address against your Ledger device screen.
• Confirm the withdrawal with 2FA.
• Wait for blockchain confirmation.
• Open Ledger Live → boom, your funds arrive. 🎉

Part 2: Sending Crypto from Exchange to Exchange (with Destination Tag)

Some coins (like XRP, Stellar (XLM), EOS) need a destination tag/memo when sending to an exchange. Think of it as an apartment number—without it, your funds go to the building but get lost inside. 🏢

This is the most common way to transfer crypto between exchanges safely.

If you’re still deciding which exchange to use, check out my Binance vs Bybit Comparison.

Step 1: Get Deposit Info from Target Exchange 🏦

• Go to the receiving exchange (e.g. Bybit).
• Click Deposit → pick your coin (say XRP).
• You’ll see:
  • Wallet address
  • Destination Tag / Memo

Copy both carefully.

Step 2: Go to Sending Exchange 💻

• Log in to the exchange where your funds are now.
• Select Withdraw/Send.
• Paste the address.
• Paste the destination tag/memo.
• Enter the amount.

Step 3: Choose the Right Network 🌐

• BTC → BTC only.
• ETH/ERC20 tokens → Ethereum.
• XRP → XRPL (with correct tag).
• Stablecoins (USDT/USDC): make sure both exchanges support the same network (ERC20, TRC20, BEP20).

Step 4: Double-Check (Seriously) 👀

• Wrong address = gone forever.
• Wrong tag/memo = funds get stuck (and you’ll need painful customer support).
• Triple-check both fields before confirming.

Step 5: Confirm & Track ✅

• Confirm with 2FA.
• Exchanges often show a “Pending/Processing” status.
• Once complete, check your balance on the receiving exchange.

TL;DR

• Exchange → Ledger wallet: Copy verified address → Withdraw → Pick correct network → Confirm → Verify in Ledger Live.
• Exchange → Exchange: Copy both address + tag/memo → Choose supported network → Double-check → Confirm.
• Always send a test first.
• That’s how to send crypto safely without losing coins. 🚀

Written by Lanzo – your crypto guide.

(This post contains affiliate links — supporting Lanzo at no extra cost to you.)