How to Transfer ERC20 Tokens: A Step-by-Step Guide for Beginners

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What Are ERC20-Compatible Tokens?

ERC20 is a universal token standard used by thousands of Ethereum-based tokens. This protocol allows seamless management of diverse tokens within a single wallet, streamlining transactions and storage.

Key Operations for ERC20 Tokens

Step 1: Locating the Contract ID

To transfer tokens, first identify the contract ID from your transaction history:

  1. Open your ETH wallet.
  2. Navigate to "Tokens (Ethplorer.io)".
  3. Locate the contract ID displayed in the interface.

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Step 2: Adding Tokens to MyEtherWallet (MEW)

Step 3: Transferring Tokens via MetaMask

  1. In MetaMask, select "ADD TOKEN".
  2. Input the contract address, token name, and decimals.
  3. Click "Add" to complete the integration.

Sending Tokens from MEW

  1. Select "Send Ether & Tokens".
  2. Fill in recipient address, token type, and amount.
  3. Click "Create Transaction" to finalize.

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FAQs About ERC20 Token Transfers

Q: How do I find my token’s contract address?
A: Check the transaction details on Etherscan or your exchange’s withdrawal page.

Q: Why isn’t my token balance showing?
A: Ensure you’ve added the correct contract ID and decimals. Refresh your wallet if needed.

Q: Are ERC20 tokens compatible with all wallets?
A: Most Ethereum wallets support ERC20, but always verify compatibility before transferring.

Pro Tip: Always double-check addresses before sending tokens—transactions are irreversible on the blockchain.

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