If you're new to cryptocurrencies, you might wonder, "What is a wallet address?" In simple terms, a crypto wallet is like a digital safe where you store your cryptocurrencies. These wallets come in various forms and security levels. When you create a wallet address, you generate a pair of keys: your public key and private key.
These keys are essential for using your wallet to send and receive your chosen cryptocurrency.
Public Key: This is a part of your wallet address used for receiving cryptocurrency. Think of it as your account number. You can share your public key with others so they know where to send you crypto.
Private Key: This is the secret key that should never be shared with anyone. It's like the password to your safe. Your private key allows you to access and control your cryptocurrency.
Different Addresses for Different Cryptocurrencies
It's important to note that different cryptocurrencies have different types of addresses. For example, Bitcoin and Ethereum addresses look different. So, if you're receiving Bitcoin, you provide your Bitcoin address, and if it's Ethereum, you use your Ethereum address.
What do Bitcoin addresses look like?
P2PKH Addresses. Example: 17VZNX1SN5NtKa8UQFxwQbFeFc3iqRYhe
This address is a legacy address, and will always start with the number 1.
P2SH Addresses. Example: 3EktnHQD7RiAE6uzMj2ZifT9YgRrkSgzQX
P2SH addresses start with the number 3 and are a new type of Bitcoin address introduced as part of the Bitcoin Improvement Proposal 16 (BIP 16) in early 2012.
P2WPKH Addresses: Example: bc1qw508d6qejxtdg4y5r3zarvary0c5xw7kv8f3t4
P2WPKH addresses start with a bc1, the newest address format brought by SegWit. This format is more efficient and reduces transaction fees.
How can I find my address?
To find your address, you'll need to open your wallet/ exchange and click on a certain coin, and then click Receive, Deposit, or something similar. Almost every crypto wallet or platform will work in a similar way.
If you already have a wallet - Exodus, for example, you can check out our video guide below.
Safety First: Avoiding Scams
Always be cautious when someone shares a wallet address with you or when you're sending crypto to an unknown address. Scams are prevalent in the crypto world. If you suspect a scam, contact us immediately. It's better to be safe than sorry.via the messenger in the bottom-right of your screen - it's always better to be safe than sorry!
How can I enter my address into Easy Crypto?
During the order process, you will be asked to paste in your wallet's receiving address so that we know where to send your cryptocurrency. If you don't have a wallet, you can click here to learn more, or you can click the I don't have an address! button and we can offer some other options.
After copy and pasting in your wallet's receiving address, click on the Next Step button to move ahead with your order. See our video guide below for a step by step guide!
Here you can also check which networks we operate that particular crypto on. Be sure that this matches the network your receiving address is on.
If you get stuck anywhere along the way, you can get in touch with our team via the messenger in the bottom right of the window.