00:00 Intro
01:15 About token approvals
01:29 Token approval example
02:45 Two main ways how unlimited token approvals can lead to you losing cryptocurrency
05:48 Token approvals vs dapp permissions
07:14 How to revoke token approvals
09:26 Summary
10:41 Action item
11:06 Ask about token approvals below
11:16 Outro
Token approvals are fundamental to the world of Web3 and blockchain-enabled smart contracts. However, unfortunately, they are at the heart of many terrible stories of people having their cryptocurrency stolen.
In this video, I explain everything you need to know about token approvals—including unlimited token approvals; how token approvals can be the reason you lose all your cryptocurrencies; token approvals vs dapp permissions; and how to stay safe by reviewing and revoking your token approvals.
This video is publicly available on the Collective Shift YouTube channel.
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