If you didn't know already, a crypto wallet is somewhere you store your crypto. These wallets come in various shapes and sizes and range from moderately safe to virtually bulletproof. When you create a wallet address you generate a pair of keys. These keys are known as your public key and your private key, which are essential to use your wallet to send and receive your chosen crypto.
The public key is used to create a wallet address that you can give to anyone so that they know where to send you crypto. So, if Harry has 0.5 Bitcoin and he wants to send it to Alan; Alan will give Harry his wallet address. Similarly, if Harry wants to buy 0.5 bitcoin through Easy Crypto, he will need to give us his Bitcoin address. It's important to know that different cryptocurrencies will require different addresses. So, if Harry wants to send Alan 1 ETH, Alan will need to give Harry a different address from his Bitcoin 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 click here to learn how to find your wallet's receiving address.
Just a reminder that if someone has sent you an address, or you're sending crypto to an unknown address, this is almost certainly a scam. Please get in touch with us right away if this sounds like you - it's always better to be safe than sorry!
How can I enter my address into Easy Crypto?
During the order process, you will 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 set one up, 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.
If you get stuck anywhere along the way, or if you have any further questions, our friendly support team is always here to help.