Mastering Crypto: Your Guide to Buying DeFi Correctly

Mastering Crypto: Your Guide to Buying DeFi Correctly

[Applause]
flipping these coins like they hopping
fences crypto danks he welcome back
crypto Enthusiast it’s your boy crypto
danks back again with another Banger and
today I want to teach a little bit of
101 stuff that for beginners maybe you
don’t understand or you didn’t know uh
maybe I can help guide you in the right
direction to make sure that you’re
buying the right crypto even though it
says X crypto whatever the crypto might
be well you pull it up on something like
deck screener or you try to find it on
different um you know websites and you
might not be able to find the correct
one one example I can give you right now
is land wolf right there’s a lot of uh
discrepancy on which one is the real one
all of that aside once you decide which
one it is you have to make sure you’re
buying the right contract address all
right so say for example you want to buy
um the land wolf that’s on eth but you
don’t know which one it is so let’s just
click this one for example it says $3.9
million market cap this is one that I
actually got in very early made money on
but there is a discrepancy that perhaps
this is not the right one right which I
don’t really mind I’m just waiting to
see uh what exactly happens with this
one and I might roll to a different one
but despite all of this what you want to
do is you want to go and click this
contract add address and make sure that
it’s Dae right this is Dae that’s the
last three of this contract address all
right so essentially if you’re on say
their website typically you’ll be able
to find it on the website somewhere
they’ll have their contract address okay
even this one it says starts with
ox33 uh Pepe CA ends with 33 so they’re
trying to compare it with Pepe and stuff
like that like but this on their website
they’ll have their contract address and
you can see that this is the same one so
essentially all you really have to do
say you’re on their site and you want to
buy this coin I’m not endorsing to buy
this coin I’m just using it as an
example right you would just copy the
contract address go to your deck
screener paste the contract address and
it’ll bring it up all right now this has
the same contract I don’t know what this
is and how this is even possible or what
this is but this is not the same one
which is see it can get weird so now we
know you look at the chart I mean look
at the market cap this says $5 liquidity
we know it’s not the right one I don’t
know how there’s two with the same
contract address that’s beyond my
ability to understand but this one here
is the correct one all right it has the
same contract address it has all my
history I already know cuz I’ve been
trading this one and and stuff like that
but that’s how you find out that you’re
buying the correct one is through the
contract address now when you have the
address okay and you want to go on Unis
swap okay so say we go to Unis swap uh
and you want to buy this token right go
to Unis swap you make sure you have your
metamask wallet with ethereum in it
already Okay and then all you got to do
to select your token is paste the
contract address in it’ll bring up land
wolf if I didn’t have land wolf already
pre in my wallet and stuff like that uh
it might show it might not show some or
it might just show all of these but how
do you know again you just do the
contract address it’ll bring up the only
one all right so that’s as easy as it
gets um of course if it’s on coinbase
they’re not going to have like this is
primarily for decentralized exchanges uh
when you’re purchasing from them uh or
if you’re on a DEX screener or Dex tools
or Dex view or whatever and you want to
find the right one you need to use the
contract address if you’re on
coinbase um typically they’re always
going to have the correct one they they
just will they’re not going to have all
of these other you know ones that are
incorrect okay so but you can still like
say for example I don’t know if you
wanted to buy uh let’s see say you
wanted to buy bnk right you can go in
here just to make sure that you’re
buying the right one just say you’re you
want to make sure right go in here here
Bonk copy it it’s on salana you just
copy this address you just click the
little copy clipboard thing and uh go
over to coinbase and then you can
actually just search for it um by
choosing here just go over here search
for an asset and buy Bonk and it’ll pull
it up and that’s the correct one all
right and you can buy Bonk on um coin um
on coinbase as it is on coinbase which
is great for Bon um again not endorsing
to buy any of these cryptos just showing
you how to purchase them now another
quick little cool thing I can tell you
about is on coinbase you can save on
fees so say I wanted to buy Bonk right
now say I wanted to buy $1,000 worth of
bunk right say I preview buy well
because I pay the coinbase um uh
coinbase one I would actually have to
pay $42 if I didn’t pay the $10 or $15 a
month or whatever it is $30 a month so I
save on every fee but if you didn’t have
coinbase 1 I would have had to pay $42
fee not only that you can also once I
ran you they have like a $10,000 cap per
month so if I were to over invest more
than $10,000 they start hitting me with
fees but a way to get around it as far
as buying and selling you can onramp
into USD or usdc or whatever you want
into coinbase and go to Advanced and
this will save you on your fees so let’s
do the same crypto all right for example
Bonk now we know it’s the correct one
it’s the only one there if I wanted to
buy $11,000 worth of Bonk right just put
,000,000
USD uh the fee essentially it shows here
is
$5.5 all right and they’ll give me a
rebate of $138 for being a coinbase 1
member all right so you can save money
by using the advanced tab in coinbase
using the coinbase advance will save you
tons of money that’s the right way to do
it and you’ll be able to limit order
Market order and stop limit uh buys and
sells I hope this helps if you have
questions leave it in the comments down
below if you need another video that’s
something similar or explaining
something that you don’t understand or
would like to have more information on
please put it in the comments down below
and I will make a video for you uh if it
makes sense all right crypto danks I’m
[Music]
out flipping these coins like they
hopping fences crypto danks he in the
trenches pushing up numbers calling
bench presser stacking up bits no time
for the jeters all day got young cloth
on the speakers he trades by day
moonlights by the ler buying low selling
high no one does it better blockchain’s
heavy but it’s Wallace never tethered
dodging them dips like bad
[Music]
weather Pockets deep like the coin Ms
digging no F here his hands never
wriggling dollar signs in the eyesight
so Keen watch the market move keeping
his slate Clean Master of the trades the
exchanges playground the Candlestick
walks in his Pat to slay down link to
the future with a blockchain B A crypto
King wearing his digital Crown crypto D
stacking coins to the stealing in the
coin basily de
[Music]

How to Find the Right Crypto Contract Address
When buying #cryptocurrency on a decentralized exchange or #DEX, it’s super important to use the correct contract address. Otherwise, you could lose all your money by sending it to the wrong place!

The contract address is like the crypto’s home address on the blockchain. You need this address to interact with the legitimate token, not a fake one (there are plenty out there trying to capitalize on a particular ticker).

So how do you find the right contract address? Here are 6 simple steps:

Step 1: Check the Official Website
First, go to the official website of the cryptocurrency project. Legit projects will clearly list the contract address there.

Step 2: Use a Blockchain Explorer
Next, look up the token on a blockchain explorer site like Etherscan or BscScan. These are like search engines for the blockchain.

The contract address listed here should match the one on the official website. If not, that’s a red flag!

Step 3: Double Check on CoinMarketCap on CoinGeko
As an extra step, you can also look at the contract address listed on big crypto data sites like CoinMarketCap or CoinGecko. But always prioritize the official website and blockchain explorers as your most trusted sources.

Step 4: Verify on the DEX
When connecting your crypto wallet to the decentralized exchange to buy, triple-check that the contract address you’re interacting with is the right one from the official sources.

Step 4B: The correct contract address is almost always the one that has the most liquidity, transaction volume, etc.

Step 5: Be Careful Importing Addresses
Some DEXs let you manually import token contract addresses. But be super cautious doing this, as one wrong character could mean sending your money into a black hole!

Step 6: Run the Contract Address through a site like Rug Pull Finder https://de.fi/scanner or check the AUDIT section on DEXTools or DEXScreener to see if there are any major red flags.

Occasionally there are exceptions to the rule. Just because a crypto ticker was first to market, doesn’t mean that it will be adopted by a community. There have been times when a project initially launches on Blockchain A and then another team creates the same ticker on Blockchain B and another team again creates the same ticker on Blockchain C. These are NOT all the same project. Do not be fooled. In the end, the community decides which ticker is the “real” one.

#contractaddress #cryptocurrency #defi #altcoins #crypto101 #cryptoeducation #cryptotrading #cryptonews

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