A cryptocurrency address is a unique string of letters and numbers that functions similarly to a bank account number. It identifies a specific destination on a blockchain where cryptocurrency can be sent to or received from.
How Addresses Work
Addresses are derived from public keys through cryptographic hashing. Each blockchain has its own address format — Bitcoin addresses typically start with "1", "3", or "bc1", while Ethereum addresses start with "0x".
Address Types
Bitcoin Legacy (P2PKH): Starts with "1" — the original address format.
Bitcoin SegWit (P2SH): Starts with "3" — supports Segregated Witness transactions.
Bitcoin Native SegWit (Bech32): Starts with "bc1" — lowest fees and fastest processing.
Ethereum: Starts with "0x" followed by 40 hexadecimal characters.
Safety Tips
Always double-check the full address before sending cryptocurrency. Transactions are irreversible — sending to the wrong address means permanent loss. Some malware can replace copied addresses, so verify the first and last several characters after pasting.