Trust Wallet, please cover this topic more as information on this topic seems to be all over the place. Seems responses to questions are put in parts here, and parts there in other comments or posts all together.
One of the members does explain that approval first needs to happen, but also mentions, in quotes, “When swapping tokens for the first time, you have to approve it first to be spendable”, and other almost verbatim responses through out.
Questions…
- Is this truly just a one time, initial approval process? Or will this happen every time?
- If this is a one time process, is it at a set monetary value or does it depend on the transaction?
- If this is a one time process, and the cost depends on the transaction amount, wouldn’t it be prudent to first do a small transfer and then proceed with the rest. If so, it would be nice for Trust Wallet to include this?
- In one of many posts I read regarding this matter, one user mentioned he was dinged twice. The response was given was “… first transaction is for toke approval on Uniswap v3 site,… then you changed to Uniswap v2 site and you approved token again, second transaction”. This makes me wonder how many others have made this costly error due to lake of information.
- Does this happen with just selected currencies or for all?
I want to make my first swap, but am exceptionally concerned, almost scared, after hearing all the horror stories regarding this costly topic.
As others recommend, why doesn’t Trust Wallet make some in-depth videos on the most common topics and most common problems found. I think this would make Trust Wallet a more friendly and inviting app for most all users, especially new users. As searching via Google, Youtube or other medias, is time consuming, confusing and frustrating.
Thank you in advance for any help. 