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Question about withdrawing xmr from exchanges to monero wallet. So, when I click on Receive within Monero official wallet, there is the receiving address, payment ID (16 symbols), and integrated address. However, various exchanges ask for different things and I'm not clear what is meant by those. Some exchanges ask for ''Unique description used to identify this [withdrawal] address'', while Bitfinex, for instance, ask for 64 character payment ID while Monero wallet gives only 16 character payment ID. What to do in each of these cases, what should I submit there for the tx to go through smoothly? Is there a to go resource for all of this? Will appreciate your help.

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When you receive funds into your Monero wallet, Monero's privacy features mean that you cannot tell the wallet address of the sender.

Therefore if you have lots of people sending funds to you, you can ask people to identify themselves with a particular payment ID. Since you probably do not transact frequently, it will be obvious to you when the funds arrive from the exchange, so you do not need to provide them with a payment ID or any information other than your wallet address.

  • Actually, I do have to provide them with a payment ID or other information other than ymy wallet address. That info is required when withdrawing from many exchanges. The point of the question is that Yes, it shouldn't be necessary, but since it is, what should I provide there. 64 character payment ID? Wtf is that since Monero wallet only gives 16 character payment ID? Maybe someone knows how to deal with this. Thanks! – KPKP Oct 29 '18 at 11:50
  • @KPKP You can type in 64 zeroes as the payment ID. – knaccc Oct 29 '18 at 13:01

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