Bitcoin address is a unique number that is used to send and receive bitcoins. You can make a comparison with an e-mail or postal address, only you give the bitcoin address to the person who wants to transfer bitcoins to you.
A bitcoin address or identifier is an account number that starts with a one or three and contains 27–34 latin characters (with the exception of 0, O, I). The number includes letters and numbers of upper and lower case. For convenience, instead of a long number, you can use the QR code. This identifier is completely anonymous, it is impossible to track the account holder on it.
Bitcoin address is used to receive payments and transfer funds. To increase the level of 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 conducting operations, it is recommended that you do not enter the address manually, but copy it. It should be remembered that manual entry is case-sensitive, therefore, in the event of an error, bitcoins may go to the wrong destination or the transaction will fail. The latter is done 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. Obtaining an address is preceded by registering a Bitcoin wallet. In order to generate a bitcoin address in a wallet, a special private key is used. This process happens automatically.
The private key is a long string of numbers and letters, which is the password for your wallet. It is this number that 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 through 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 Address Settings. 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 ‘Deposit’ button in the “BTC for Bitcoin” line. Below the inscription “Wallet address to replenish your balance” appears, the address itself and the button “Copy address”. This is convenient if you need to transfer your address to someone to receive 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 purposes and to ensure anonymity of transactions. Nothing terrible will happen if the funds are sent to you at the old address – they will reach the addressee. If desired, in the settings you can disable the function of changing the address and get the ‘eternal’ address. The most important thing is not to make a mistake in the address, as transactions are irreversible.
Is the address and wallet the same?
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 fact, this is a “bunch of keys”, only in a cryptographic sense.
The wallet stores all the generated addresses to which you can receive and from which to send cryptocurrency.
Most often, the wallet format is a text file on disk, but it may 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 device of the cryptocurrency itself, read our guide on what bitcoin is.