Why are there so many tokens? Can they all be stored in one wallet?
My understanding: the point of having a unified standard is composability. Wallets, exchanges, and DeFi protocols all handle tokens through the same interface, so newly issued tokens can be integrated right away.
The BEP-20 standard on BNB Smart Chain is compatible with ERC-20, and the functions are almost identical.
My rule of thumb: never send tokens directly to the token’s own contract address. Most such contracts don’t have a withdrawal function, so tokens sent there are often impossible to recover.
ERC-20 tokens run on Ethereum, and every transfer requires $ETH to pay gas.
This is just my personal opinion, not investment advice.
My understanding: the point of having a unified standard is composability. Wallets, exchanges, and DeFi protocols all handle tokens through the same interface, so newly issued tokens can be integrated right away.
The BEP-20 standard on BNB Smart Chain is compatible with ERC-20, and the functions are almost identical.
My rule of thumb: never send tokens directly to the token’s own contract address. Most such contracts don’t have a withdrawal function, so tokens sent there are often impossible to recover.
ERC-20 tokens run on Ethereum, and every transfer requires $ETH to pay gas.
This is just my personal opinion, not investment advice.