A Bitcoin address is a unique alphanumeric string that serves as an identifier for a Bitcoin wallet. It is used to receive and send Bitcoin transactions.
A Bitcoin address usually begins with the number “1” or “3”, followed by a string of 27-34 alphanumeric characters. The address is derived from a public key and is used to send and receive Bitcoin transactions on the Bitcoin blockchain.
The format of a Bitcoin address is as follows:
- 1 or 3 – This indicates the version of the address.
- A string of alphanumeric characters – This is the public key, which is derived from the private key of the wallet.
- A checksum – The checksum is a string of characters (usually four characters) used to verify the accuracy of the address.
- The Bitcoin address can be represented in a variety of ways, including a QR code, a text string, or a hexadecimal string.