It's a way for exchanges to verify that the transferred tokens belongs to us. Memo will be given by exchange if required. #memo
Memo In most cases, when transferring to a centralised exchange like Binance or Kucoin, you will need to include the memo (or 'tag') provided on the page with your exchange's deposit address. When transferring from an exchange to your personal wallet, like Terra Station, a memo is not required. If your exchange won't allow a transaction to be sent without a memo, you can write anything in the memo field. If you have mistakenly sent to an exchange without your memo, you will need to contact the exchange's support, including the transaction ID. Only do this through their official website.
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