When using a DApp, you must connect and authorize the address to the DApp through your wallet to complete the transaction. “Authorization” refers to authorizing the assets in your wallet address to the DApp. This step is designed to make it easier for you to continue trading with the DApp without confirming the authorization for each transaction. While easier to interact with, this step carries a significant risk; many DApps provide users with an unlimited authorized amount by default, which means that once you agree to the default authorization settings, you will not be required to confirm again when transferring within the DApp. Since your authorization is unlimited, if asset theft occurred, an unlimited amount of your assets could be stolen and extremely difficult to track back.
To avoid such situations, CoinEx Wallet provides you with the feature of customizing the authorized amount, you can limit the amount of assets authorized to the DApp based on your transaction frequency and habits, making it safer to use the DApp. the following tutorial takes Pancake Swap interaction as an example:
Step 1: Click the Confirm Swap button.
Step 2: The transaction authorization pop-up will appear, find Spend Limit and click the edit icon.
Step 3: Select Custom Amount, enter the number (eg. 100), and click “Confirm”.
Step 4: Return to the pop-up to confirm the authorization, and follow the instructions to complete the transaction.