Blog / Glossary / A / Approval

Approval

Also called allowance, token approval

What crypto means by it

Permission you grant a smart contract to spend tokens from your wallet, often with no limit and no expiry. Old approvals from apps you have forgotten are a standing risk worth revoking.

What you already know this as

A direct debit mandate with no cap and no end date, signed years ago and never cancelled.

Related terms

Smart contract Phishing Signature

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