❔ Why can't I transfer money to a contract address?

There are two types of accounts in ethereum, one is a normal external account controlled by private key, which is the address we generate using wallet, it is composed of public key and private key together; one is a contract account associated with contract code, this kind of account is composed of an address and its corresponding storage code, this kind of address we call contract address, the difference with the former is that it has no private key.

From the address alone, you can hardly tell which is the contract address and which is the wallet address.

For example. 0x8415A51d68e80aebb916A6f5Dafb8af18bFE2F9d 0x11b314EF962425231150739EF2627FB13214e5Bf So many people mistakenly transfer tokens to a contract address that may not have a private key when they can't distinguish between the two.

What happens if I transfer tokens to a contract address?

If you transfer tokens to a contract address, no one may be able to retrieve the tokens for you and return them. Only token contract addresses can receive tokens and transfer them out. All other smart contract addresses are essentially computer programs, a set of project codes.

Envo is a decentralized non-custodial wallet, your funds and transactions are controlled only by you, and Envo cannot revoke your transactions and refund your tokens after they have already occurred on the chain. If you are unsure where the tokens were ultimately sent, you can view your transaction history in the block browser.