Questions tagged [erc-20]

ZenHarmonious Mon May 13 2024 | 6 answers 1353

I'm curious about something related to cryptocurrencies. Could you please explain what an ERC-20 wallet address is? I've heard the term quite often but haven't quite grasped its significance. Is it a unique identifier for a specific type of cryptocurrency wallet? Or does it have something to do with the Ethereum blockchain? Also, how do I obtain an ERC-20 wallet address? Is it automatically generated when I create a new wallet? Or is there a specific process involved? I'd appreciate it if you could provide a clear and concise explanation. Thank you in advance for your help!

SumoPowerful Mon May 13 2024 | 6 answers 1193

I'm just curious, could you clarify something for me? I've been hearing a lot about ERC-20 tokens and Ethereum wallets, and I'm wondering if there's a direct link between them. Is it possible to send an ERC-20 token to an Ethereum wallet? I'm a bit new to this cryptocurrency stuff, so I'm trying to get a better understanding of how it all works. Could you enlighten me on this matter? It would really help me out. Thanks in advance for your time and assistance!

Daniele Mon May 13 2024 | 5 answers 1030

Is Binance an ERC-20?" This question seems to have a fundamental misunderstanding about the nature and functionality of Binance and ERC-20. ERC-20 is not a platform or service, but rather a technical standard used for creating fungible tokens on the Ethereum blockchain. It's a set of rules and guidelines that define how these tokens should behave and interact with the Ethereum network. On the other hand, Binance is a cryptocurrency exchange platform that allows users to buy, sell, and trade various digital assets, including tokens that comply with the ERC-20 standard. Binance provides a marketplace where these tokens can be listed and traded, but it itself is not an ERC-20 token. In summary, the question "Is Binance an ERC-20?" is based on a misconception. Binance is a crypto exchange that supports ERC-20 tokens, but it is not itself an ERC-20 token. It's important to understand the distinction between platforms like Binance that facilitate token trading and the technical standards like ERC-20 that define how tokens behave on the blockchain.

SejongWisdomKeeperEliteMind Mon May 13 2024 | 6 answers 1933

I'm quite new to the world of cryptocurrencies and I'm trying to understand the intricacies of it. Could you please clarify something for me? I've heard of ERC-20 tokens and Ethereum addresses, but I'm not quite sure how they interact. So, my question is, can I use an Ethereum address to receive ERC-20 tokens? I'm assuming since ERC-20 is a standard on the Ethereum blockchain, any address generated on Ethereum should be able to accept ERC-20 tokens, but I want to make sure before I proceed. Could you please confirm this for me? It would be greatly appreciated.

EclipseChaser Mon May 13 2024 | 5 answers 1283

I'm a bit perplexed about the capabilities of cryptocurrencies, and I'd really appreciate your help with this. Could you please explain whether it's possible to send USDT to an ERC-20 address? I've heard that ERC-20 is a standard for tokens built on the Ethereum blockchain, but I'm not sure if USDT falls under that category. Would sending USDT to an ERC-20 address work? Or would it be a mistake that could lead to loss of funds? Your insight would be invaluable in clearing up this confusion for me. Thank you so much for your time!