A contract address popularly shortened as CA is a unique address like a house address that identifies a smart contract a token/coin is deployed on a blockchain like ETH, BNB smart-chain, etc. Each token follows a defined rule of a particular blockchain which it is built upon. There is a huge difference between CA and wallet address.
While contract and wallet addresses are unique identifiers on the Ethereum blockchain, they serve different purposes. A wallet address is used for sending, receiving, and holding native and non-native digital assets, while a contract address is only associated with its creator, the smart contract itself, and its functionality.
Contract addresses are generated deterministically during smart contract deployment, using the deploying address (owner) and its nonce (the number of transactions sent from the address). Public wallet addresses, on the other hand, are derived from private keys.
You can’t inherently tell the difference between a contract address and a wallet address just by looking at them. However, you can use a block explorer like Etherscan to check if an address is a contract address. When you search for an address, the block explorer will display information about it, including whether it’s a contract address or a wallet address.
How to get a token’s contract address
There are three main ways to get a token’s contract address and they include;
- Block explorer: Use tools like Etherscan, BscScan, or Polygonscan.
- Token listing site: Token listing sites such as Coingecko and CoinMarketCap hold a registry of all existing ERC-20 tokens.
- MetaMask Extension: On the homepage of MetaMask Extension, under the ‘Tokens’ tab, click on the token whose contract information you want. Then, click on the vertical three dots menu and select ‘View asset in explorer’. This action will take you to the token’s contract address on the active network.
How to import a token’s contract address
The process of importing a token’s CA vary depending on the wallet or platform. The best thing to do is to refer to their documentation or reach out to their customer support for specific instructions. They will be able to guide you through the steps to import the contract address and access your tokens.
Happy token importing! Keep learning…Finbutton.
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Editor’s comment: If you are new to crypto, these terms will sound strange, just keep learning and asking questions. Very soon you will be familiar and common with them.
