Altcoin with same token symbol - advice needed

[Jednopivo]

Hello,

I have joined two bounty campaigns but they both have the same token symbol and I provided both with the same wallet address (as I didn't realise at the time), so what should I do? Create another wallet address and once I get paid one lot of tokens - transfer it over to the new wallet, and then receive the next amount, or is there another way? I have taken a look at MEW but I couldn't find any answers to resolve this issue.

Thank you.

[1714949710]

1714949710

[Johnny Lgz]

I ask also samr question on my telegram group that there is another token with both same name symbol with our coin, will the investors confused about it and they said the two projects has the same token symbol as you ask they said when you click the token information the whole name of the project will come out so no need to worry.

[jhowww]

That's fine, you don't have to create a new wallet. if they are erc20 tokens, they will have different smart contracts, and you will see that they have different names in your wallet

[jhenfelipe]

If you're worried that the balances of the two tokens will be mixed, it will not, so you don't need to do anything. As long as they have different token contract addresses, it will be separated. Just don't be confused when the time comes that you need to send them on exchanges.

[Psynthax]

Hello,

I have joined two bounty campaigns but they both have the same token symbol and I provided both with the same wallet address (as I didn't realise at the time), so what should I do? Create another wallet address and once I get paid one lot of tokens - transfer it over to the new wallet, and then receive the next amount, or is there another way? I have taken a look at MEW but I couldn't find any answers to resolve this issue.

Thank you.

You should not need to create another new wallet. You just need to make it a little bit different i guess from the sentences and change the word a little bit and make it different. But if you are not interesting to changing the name and it will be fine as long as you know that the contract address of every token. But create a new address can become an alternative way.

[pinoyrichkids]

Dont worry about the same symbols, as they have different contract address, 3 things important in MEW, the contract address, the decimals and the symbol. Just continue using it and promote it, as they have different contract address, it doesnt matter, it will still reflect in your MEW. Be worry if both project, have the same contract address.

Hope it helps. Thanks

[metalglowd]

Hello,

I have joined two bounty campaigns but they both have the same token symbol and I provided both with the same wallet address (as I didn't realise at the time), so what should I do? Create another wallet address and once I get paid one lot of tokens - transfer it over to the new wallet, and then receive the next amount, or is there another way? I have taken a look at MEW but I couldn't find any answers to resolve this issue.

Thank you.

i think its not a problem anyway, just by the name its only "Token Symbol" so its name only represents the token name, just like the our ID Card, there's a lot a people called "John", "Michael", "Andy" but in each one of them, they hold a different ID number, that thing specified each one another.
and so with ERC20 token, even with a same token symbol name, they have unique ID called smart contracts.

[Jednopivo]

Hello,

I have joined two bounty campaigns but they both have the same token symbol and I provided both with the same wallet address (as I didn't realise at the time), so what should I do? Create another wallet address and once I get paid one lot of tokens - transfer it over to the new wallet, and then receive the next amount, or is there another way? I have taken a look at MEW but I couldn't find any answers to resolve this issue.

Thank you.

You should not need to create another new wallet. You just need to make it a little bit different i guess from the sentences and change the word a little bit and make it different. But if you are not interesting to changing the name and it will be fine as long as you know that the contract address of every token. But create a new address can become an alternative way.

I need to add both of the tokens (as customised tokens) with the same symbol but MEW only allows me to add one, even thought they have different contract address and decimal number. So, as far as I can see I can only add one of them.

[jhenfelipe]

I need to add both of the tokens (as customised tokens) with the same symbol but MEW only allows me to add one, even thought they have different contract address and decimal number. So, as far as I can see I can only add one of them.

Could you please share what tokens are you trying to add so we can check? I just tried with SMT. There are two SMT available, so I tried to add them as custom token in MEW and it just works fine. I even found out that there's one default token with the same symbol, so I'm seeing 3 on the list after adding the 2.

[clickerz]

If you're worried that the balances of the two tokens will be mixed, it will not, so you don't need to do anything. As long as they have different token contract addresses, it will be separated. Just don't be confused when the time comes that you need to send them on exchanges.

[AlanShlafter]

Hello,

I have joined two bounty campaigns but they both have the same token symbol and I provided both with the same wallet address (as I didn't realise at the time), so what should I do? Create another wallet address and once I get paid one lot of tokens - transfer it over to the new wallet, and then receive the next amount, or is there another way? I have taken a look at MEW but I couldn't find any answers to resolve this issue.

Thank you.

Don't worry, two different tokens do not get mixed since they have different properties like smart contracts. You don't need to change your wallet.

[fadlyzuld]

The problem of multiple cryptocurrency with the same code name will firstly cause confusion to investors, if it is a good and thorough project, I think before they plan ICO has to consider this.

[Jednopivo]

I need to add both of the tokens (as customised tokens) with the same symbol but MEW only allows me to add one, even thought they have different contract address and decimal number. So, as far as I can see I can only add one of them.

Could you please share what tokens are you trying to add so we can check? I just tried with SMT. There are two SMT available, so I tried to add them as custom token in MEW and it just works fine. I even found out that there's one default token with the same symbol, so I'm seeing 3 on the list after adding the 2.

Hey, thank you so much for getting back to me.

So, both tokens have the symbol INV. I cannot see this set as default on MEW, and I just tried to add both, but I could only add one. The message says something like unable to add a custom token with the same symbol as an existing custom token. I'm clicking the "add custom" token button - that's right? (just in case I'm doing something wrong here?)

[jhenfelipe]

I need to add both of the tokens (as customised tokens) with the same symbol but MEW only allows me to add one, even thought they have different contract address and decimal number. So, as far as I can see I can only add one of them.

Could you please share what tokens are you trying to add so we can check? I just tried with SMT. There are two SMT available, so I tried to add them as custom token in MEW and it just works fine. I even found out that there's one default token with the same symbol, so I'm seeing 3 on the list after adding the 2.

Hey, thank you so much for getting back to me.

So, both tokens have the symbol INV. I cannot see this set as default on MEW, and I just tried to add both, but I could only add one. The message says something like unable to add a custom token with the same symbol as an existing custom token. I'm clicking the "add custom" token button - that's right? (just in case I'm doing something wrong here?)

You did it right. I've searched those tokens' contract addresses and decimals to try and got the same error. I found out that the tokens I've used to test were already in MEW's default token list that's why it worked just fine. So yours is a different case.

Disregarding the use of a new wallet, I came up with two options for you:

1. Don't add the tokens as custom in your wallet yet. Not adding them doesn't mean that they will not be received nor will be mixed, so no worries. Why not wait for them to be one of the default tokens? (The dev/team should request for that) You can just check your address on eth block explorers (like etherscan or ethplorer) to see if you receive them. Since these tokens are new, most likely they are not yet present in exchanges, which also mean that you will not use them ATM.

** You mentioned that you already added one INV, it's fine if you let it still. You're able to delete it as well if you like, as long as it is not yet a default token.

2. Change the symbol of one token when you add it as a custom token. Someone on reddit mentioned that he tried it and went through. Though I'm not sure if it will be just fine because I have not tried it. Maybe you'll just get confused when the token become a default one, most likely will have a double record, like this one.

[annmhie0904]

There will be no issue. They only have same token symbols but they are not the same contract address which a way to differentiate their token value. So no need to create a new mew. Just don't be confused too for the 2 tokens. Especially when you try to deposit them to an exchanges. Because you will lost them if you have mistaken. Always double check the contract address before you do the transaction.

[Jednopivo]

I need to add both of the tokens (as customised tokens) with the same symbol but MEW only allows me to add one, even thought they have different contract address and decimal number. So, as far as I can see I can only add one of them.

Could you please share what tokens are you trying to add so we can check? I just tried with SMT. There are two SMT available, so I tried to add them as custom token in MEW and it just works fine. I even found out that there's one default token with the same symbol, so I'm seeing 3 on the list after adding the 2.

Hey, thank you so much for getting back to me.

So, both tokens have the symbol INV. I cannot see this set as default on MEW, and I just tried to add both, but I could only add one. The message says something like unable to add a custom token with the same symbol as an existing custom token. I'm clicking the "add custom" token button - that's right? (just in case I'm doing something wrong here?)

You did it right. I've searched those tokens' contract addresses and decimals to try and got the same error. I found out that the tokens I've used to test were already in MEW's default token list that's why it worked just fine. So yours is a different case.

Disregarding the use of a new wallet, I came up with two options for you:

1. Don't add the tokens as custom in your wallet yet. Not adding them doesn't mean that they will not be received nor will be mixed, so no worries. Why not wait for them to be one of the default tokens? (The dev/team should request for that) You can just check your address on eth block explorers (like etherscan or ethplorer) to see if you receive them. Since these tokens are new, most likely they are not yet present in exchanges, which also mean that you will not use them ATM.

** You mentioned that you already added one INV, it's fine if you let it still. You're able to delete it as well if you like, as long as it is not yet a default token.

2. Change the symbol of one token when you add it as a custom token. Someone on reddit mentioned that he tried it and went through. Though I'm not sure if it will be just fine because I have not tried it. Maybe you'll just get confused when the token become a default one, most likely will have a double record, like this one.

I'll definitely go option 1 as I think it makes sense to wait until one of them becomes default. Even if neither of them are made default, as you say at least I can check that I have received them on etherscan or ethplorer.

Not sure I want to add it as the person in Reddit it - I'd probably end up forgetting what it is.

A massive thank you for taking the time to help me with this. I'd flourish you with merit points if I had any.

Best, Jednopivo

[jhenfelipe]

You did it right. I've searched those tokens' contract addresses and decimals to try and got the same error. I found out that the tokens I've used to test were already in MEW's default token list that's why it worked just fine. So yours is a different case.

Disregarding the use of a new wallet, I came up with two options for you:

1. Don't add the tokens as custom in your wallet yet. Not adding them doesn't mean that they will not be received nor will be mixed, so no worries. Why not wait for them to be one of the default tokens? (The dev/team should request for that) You can just check your address on eth block explorers (like etherscan or ethplorer) to see if you receive them. Since these tokens are new, most likely they are not yet present in exchanges, which also mean that you will not use them ATM.

** You mentioned that you already added one INV, it's fine if you let it still. You're able to delete it as well if you like, as long as it is not yet a default token.

2. Change the symbol of one token when you add it as a custom token. Someone on reddit mentioned that he tried it and went through. Though I'm not sure if it will be just fine because I have not tried it. Maybe you'll just get confused when the token become a default one, most likely will have a double record, like this one.

I'll definitely go option 1 as I think it makes sense to wait until one of them becomes default. Even if neither of them are made default, as you say at least I can check that I have received them on etherscan or ethplorer.

Not sure I want to add it as the person in Reddit it - I'd probably end up forgetting what it is.

A massive thank you for taking the time to help me with this. I'd flourish you with merit points if I had any.

Best, Jednopivo

No worries! Good choice, that's easier and safer to do at the moment.

In addition, I suggest you to not unlock your wallet frequently. Phishing sites are everywhere, so if you are not planning to make any transaction and only want to check your balance, just use a block explorer or in MEW > View Wallet Info > View w/ Address Only (that way you don't need to input your private key / give your keystore file).

[sehoon]

Hello,

I have joined two bounty campaigns but they both have the same token symbol and I provided both with the same wallet address (as I didn't realise at the time), so what should I do? Create another wallet address and once I get paid one lot of tokens - transfer it over to the new wallet, and then receive the next amount, or is there another way? I have taken a look at MEW but I couldn't find any answers to resolve this issue.

Thank you.

I don't think you have to join another campaign. Because when you use etherscan, you already can see the values of your coin and when you check it in the sites like coinmarketcap, you can already know which is which. And why are you having difficulties? Are you afraid of pulling out some money and ended up you pull up in the wrong coin? If yes, just double check it whenever you're going to major cryptocurrency exchanges.

[rmyles25]

This is surely bound to happen as we keep on getting new tokens almost everyday. To some though especially newbies in the crypto community, this could be confusing.

[Jednopivo]

You did it right. I've searched those tokens' contract addresses and decimals to try and got the same error. I found out that the tokens I've used to test were already in MEW's default token list that's why it worked just fine. So yours is a different case.

Disregarding the use of a new wallet, I came up with two options for you:

1. Don't add the tokens as custom in your wallet yet. Not adding them doesn't mean that they will not be received nor will be mixed, so no worries. Why not wait for them to be one of the default tokens? (The dev/team should request for that) You can just check your address on eth block explorers (like etherscan or ethplorer) to see if you receive them. Since these tokens are new, most likely they are not yet present in exchanges, which also mean that you will not use them ATM.

** You mentioned that you already added one INV, it's fine if you let it still. You're able to delete it as well if you like, as long as it is not yet a default token.

2. Change the symbol of one token when you add it as a custom token. Someone on reddit mentioned that he tried it and went through. Though I'm not sure if it will be just fine because I have not tried it. Maybe you'll just get confused when the token become a default one, most likely will have a double record, like this one.

I'll definitely go option 1 as I think it makes sense to wait until one of them becomes default. Even if neither of them are made default, as you say at least I can check that I have received them on etherscan or ethplorer.

Not sure I want to add it as the person in Reddit it - I'd probably end up forgetting what it is.

A massive thank you for taking the time to help me with this. I'd flourish you with merit points if I had any.

Best, Jednopivo

No worries! Good choice, that's easier and safer to do at the moment.

In addition, I suggest you to not unlock your wallet frequently. Phishing sites are everywhere, so if you are not planning to make any transaction and only want to check your balance, just use a block explorer or in MEW > View Wallet Info > View w/ Address Only (that way you don't need to input your private key / give your keystore file).

Yes, phishing sites are a real threat to everyone. I'm not planning to do anything as yet, so I'll just check my balance as you suggest - thank you!