My habit is to get the basics straight before learning a new concept.
When trading on a centralized exchange, you select a trading pair and don’t need to enter a contract address yourself. You only need to verify the network and token when withdrawing to the blockchain.
Contract addresses published by a project can also be spoofed: an address posted by an account impersonating the official one may look almost identical, but differ by just a few characters.
You don’t need to verify a contract address when trading $DOGE on Binance, but there are many tokens called DOGE on-chain.
Anything to add? Let me know in the comments.
When trading on a centralized exchange, you select a trading pair and don’t need to enter a contract address yourself. You only need to verify the network and token when withdrawing to the blockchain.
Contract addresses published by a project can also be spoofed: an address posted by an account impersonating the official one may look almost identical, but differ by just a few characters.
You don’t need to verify a contract address when trading $DOGE on Binance, but there are many tokens called DOGE on-chain.
Anything to add? Let me know in the comments.