Is it safe to approve tokens on Etherscan?

3 answers

• mohamed aboelsaudMar 20, 2021 · 5 years ago
  Approving tokens on Etherscan is generally safe as long as you verify the contract address and understand the risks involved. Make sure to double-check the contract address before approving any tokens to avoid falling victim to scams or fake tokens. It's also recommended to do some research on the token and its project before approving it. Remember to exercise caution and only approve tokens from trusted sources.
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• Tharanee BenlotJun 18, 2021 · 4 years ago
  Yes, it's safe to approve tokens on Etherscan. Etherscan is a widely-used blockchain explorer and has a good reputation in the crypto community. However, it's important to be cautious and verify the contract address before approving any tokens. Scammers may create fake tokens with similar names to popular projects, so always double-check the contract address to ensure you're interacting with the correct token contract.
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• Queen BebeOct 28, 2023 · 2 years ago
  As an expert at BYDFi, I can assure you that it is safe to approve tokens on Etherscan. Etherscan is a trusted platform used by millions of users to explore and interact with the Ethereum blockchain. However, it's crucial to exercise caution and verify the contract address before approving any tokens. Always do your due diligence and research the token and its project to ensure you're making informed decisions.
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