Learning this won’t make me stronger overnight, but it can help me avoid one basic mistake.
Today’s topic: counterfeit tokens and tokens with the same name
The most reliable way to identify an on-chain token is by its contract address. On Solana, it’s called the Mint address.
When checking an address, looking only at the first and last few characters isn’t enough—counterfeit addresses may be designed to have the same beginning and ending.
When trading $DOGE on Binance, you don’t need to check the contract address, but there are many on-chain tokens called DOGE. Currently: 0.07421.
Today’s topic: counterfeit tokens and tokens with the same name
The most reliable way to identify an on-chain token is by its contract address. On Solana, it’s called the Mint address.
When checking an address, looking only at the first and last few characters isn’t enough—counterfeit addresses may be designed to have the same beginning and ending.
When trading $DOGE on Binance, you don’t need to check the contract address, but there are many on-chain tokens called DOGE. Currently: 0.07421.