What is a Bitcoin Address?

Bitcoin Address

A bitcoin address is like an account number for a bank, and is used to send and receive bitcoins.

However, in the case of a bitcoin address, the address is changed for each transaction to protect the privacy of the user, and only one transaction can be made with one address.

Bitcoin addresses generally start with 1, while more secure multisig addresses start with 3.

The characters used consist of 27 to 34 alphanumeric characters and are generated from the public key.

If you want to transfer bitcoins, you need to specify the bitcoin address of the recipient, which must be entered carefully to avoid mistakes.

If you were to send the money to the wrong bitcoin address, it will be returned to you if the address does not exist. However, if by chance the wrong address does exist, the bitcoins will be sent to someone you don’t know.

The completion of a transaction can be seen by checking whether it has been added to the blockchain.

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