Let's talk about the Ethereum ERC-20 standard.
Because the interface is standardized, wallets and exchanges can support new tokens without having to integrate each one individually.
One thing many people overlook: the approve and transferFrom mechanism lets a contract transfer tokens on your behalf within the approved limit. This is also the source of approval risks.
When adding a custom token, verify the contract address on the project's official site or a block explorer—don't trust an address someone else gives you.
ERC-20 tokens run on Ethereum, and every transfer requires $ETH to pay for Gas.
#ETH
I can't guarantee this is correct, so use your own judgment.
Because the interface is standardized, wallets and exchanges can support new tokens without having to integrate each one individually.
One thing many people overlook: the approve and transferFrom mechanism lets a contract transfer tokens on your behalf within the approved limit. This is also the source of approval risks.
When adding a custom token, verify the contract address on the project's official site or a block explorer—don't trust an address someone else gives you.
ERC-20 tokens run on Ethereum, and every transfer requires $ETH to pay for Gas.
#ETH
I can't guarantee this is correct, so use your own judgment.