Search for a token by name and a bunch of coins with the same name pop up—which one is the real one?
Here’s how I understand it: token names can be anything, but contract addresses can’t be forged to be exactly the same, so checking the address is far more reliable than looking at the name.
The most reliable way to identify an on-chain token is by its contract address, called a Mint address on Solana.
What I do: for new coins described as “v2” or an “upgraded version,” I first check the original project’s official channels to see if they’re legitimate.
When trading on Binance $DOGE , you don’t need to worry about contract addresses, but there are countless on-chain tokens called DOGE.
This is not investment advice. Don’t follow my lead.
Here’s how I understand it: token names can be anything, but contract addresses can’t be forged to be exactly the same, so checking the address is far more reliable than looking at the name.
The most reliable way to identify an on-chain token is by its contract address, called a Mint address on Solana.
What I do: for new coins described as “v2” or an “upgraded version,” I first check the original project’s official channels to see if they’re legitimate.
When trading on Binance $DOGE , you don’t need to worry about contract addresses, but there are countless on-chain tokens called DOGE.
This is not investment advice. Don’t follow my lead.