Bitcoin addresses explained
An address is where someone sends you bitcoin. It is a long string of letters and numbers, often shown as a QR code. Sharing it is safe. It cannot be used to take your coins.
The main types
- bc1q... Native SegWit. Common, cheaper to spend from.
- bc1p... Taproot. The newest type, added in 2021.
- 3... An older type that many exchanges still support.
- 1... The original type from 2009. Still works, but fees to spend from it are higher.
All of these can send to each other. Lightning is different: a Lightning invoice usually starts with lnbc and is covered in Lightning basics.
Check before you send
- Copy and paste, never type an address by hand.
- Compare the first and last few characters after pasting. Some malware swaps addresses on your clipboard.
- On a hardware wallet, check the address on the device screen.
- Do not copy an address from your transaction history. Scammers send tiny amounts from lookalike addresses hoping you will reuse them.
- Send a small test first to anyone new.
Privacy
Every payment to an address is public on the blockchain. Most wallets give you a fresh address each time, which makes your history harder to follow. Use a new one whenever you can.
Key takeaways
- Addresses are safe to share and cannot be used to take your coins.
- Check the first and last characters, and use the device screen on hardware wallets.
- Use a fresh address for each payment for better privacy.
Not financial advice. These lessons are general education only. Bitcoin prices can swing hard. Never put in more than you can afford to lose, and do your own research.