A bitcoin address is a unique number that is used to send and receive bitcoins. Can be compared with e-mail or postal address, only Bitcoin address you give to the person who wants to transfer your Bitcoins.
A bitcoin address or identifier is an account number that starts with one or three and contains 27–34 Latin characters (except for 0, O, I). The number includes letters and numbers of upper and lower case. For convenience, instead of a long number, you can use a QR code. This identifier is completely anonymous, it is impossible to track the account holder on it.
Example bitcoin address:
Bitcoin address is used to receive payments and transfer funds. To enhance the security and anonymity of payments, one user can create any number of addresses. When making a new transaction, a new address is often created (this happens automatically).
When performing operations, it is recommended not to enter the address manually, but to copy it. It should be remembered that when entering manually, the case is taken into account; therefore, in the event of an error, the bitcoins may get to the wrong person or the transaction will not work. The latter is performed automatically if the identifier contains checksum characters.
Where can I get a bitcoin address?
To receive payments and send funds, you will need a Bitcoin address. The receipt of the address is preceded by the registration of a Bitcoin wallet. In order to generate a Bitcoin address in the wallet, a special private key is used. This process happens automatically.
The private key is a long string of numbers and letters that is the password for your wallet. This number makes it possible to send your bitcoins to other people. Anyone who knows your private key can control your bitcoins. However, despite the fact that the bitcoin address is generated via the private key, there is no way to find out its number through the bitcoin address.
How to find out the address of a bitcoin wallet
All your bitcoin addresses are stored in a bitcoin wallet. Where exactly to look for them depends on the type of your wallet. Often you can find out your Bitcoin address in the following ways:
- View in Settings> Addresses. Some wallets automatically create a new address every time you need to receive funds. For control, go to “Address Management,” to the right of the account. There you can see all the addresses that were created on this account.
- Go to the “Wallet-Balance” section, click the “Refill” button in the “BTC for Bitcoin” line. Below appears the inscription “Address of the wallet to replenish your balance”, the address itself and the button “Copy address”. This is convenient if you need to give someone your address to get bitcoin.
Bitcoin address has changed. What to do?
As mentioned above, some wallets can automatically change the address for each new transaction. The wallet address is changed for security reasons and to ensure anonymity of transactions. Nothing bad will happen if the funds are sent to the old address – they will reach the addressee. If desired, in the settings you can disable the address change function and get the “eternal” address. The most important thing is not to make a mistake in the address since the transactions are irreversible.
Address and wallet – the same thing?
Not. An address is a public key that is used to complete transactions. A wallet is a set of hidden keys, each of which corresponds to a specific address. In essence, this is a “bunch of keys”, only in a cryptographic sense.
The wallet stores all generated addresses to which you can receive and send cryptocurrency.
Most often, the wallet format is a text file on the disk, but it can differ in different types of wallets and have additional functions, such as encryption and address marking.
If you are interested in learning more about the cryptocurrency device itself, read our guide on what bitcoin is.