Searching for a token by name brings up a bunch of coins with the same name. Which one is the real deal?
Here’s how I see it: copycat tokens capitalize on the attention around popular names. Once people buy the wrong one, their creators may pull the liquidity or sell off a large amount at once, and buyers who picked the wrong token usually have a hard time recovering their funds.
On-chain, anyone can create a token with the same name and ticker. Having the same ticker doesn’t mean it’s the same token.
What I do: get the contract address from the project’s official channels, then double-check it on a block explorer. Don’t rely on searching by name alone.
You don’t need to worry about contract addresses when trading on Binance $DOGE , but there are countless tokens called DOGE on-chain.
#DOGE
This isn’t financial advice. Make your own decisions when buying or selling.
Here’s how I see it: copycat tokens capitalize on the attention around popular names. Once people buy the wrong one, their creators may pull the liquidity or sell off a large amount at once, and buyers who picked the wrong token usually have a hard time recovering their funds.
On-chain, anyone can create a token with the same name and ticker. Having the same ticker doesn’t mean it’s the same token.
What I do: get the contract address from the project’s official channels, then double-check it on a block explorer. Don’t rely on searching by name alone.
You don’t need to worry about contract addresses when trading on Binance $DOGE , but there are countless tokens called DOGE on-chain.
#DOGE
This isn’t financial advice. Make your own decisions when buying or selling.