What exactly are you approving when that “Approve” prompt appears before you sell tokens on a DEX?
Definition: Before selling ERC-20 tokens on a decentralized exchange, you generally need to grant an approval, allowing the contract to use those tokens in your wallet.
Why it works this way: An approval is like giving someone authorization to deduct funds from your wallet. The higher the limit and the longer it lasts, the greater the potential risk.
Back to the market: $ETH is currently at 2536.95, up 1.38% over 24 hours.
Before transferring, double-check the full address and network. Sending a small test transaction first is safer.
#ETH
Definition: Before selling ERC-20 tokens on a decentralized exchange, you generally need to grant an approval, allowing the contract to use those tokens in your wallet.
Why it works this way: An approval is like giving someone authorization to deduct funds from your wallet. The higher the limit and the longer it lasts, the greater the potential risk.
Back to the market: $ETH is currently at 2536.95, up 1.38% over 24 hours.
Before transferring, double-check the full address and network. Sending a small test transaction first is safer.
#ETH