What is Payment ID, Memo, Message when and why are they needed?

"Payment ID, Memo, Message" are also known as payment IDs. These are additional fields in the wallet or on the exchange, which must be filled in so that the transfer is not lost.

For the sake of simplicity, imagine that you and a hundred others have tossed unsigned envelopes of money into a drawer. In this case, you yourself will not be able to distinguish your envelope from others, just as the exchange will not be able to.

"Payment ID, Memo, Message" is the very identifying signature on the envelope. Outwardly, they look like long and short character sets. They are unique and with their help, the exchange can easily determine who transferred funds, and to whose account they are deposited.

If you pay using carbo in an online store, then "Payment ID, Memo, Message" will also be required so that the store can determine whose funds and for which order were received.

However, "Payment ID, Memo, Message" is not always needed. For example, if you have a stationary wallet on which only one account can be placed, then payment IDs are not needed there, since you know that this is your wallet.