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Can't figure out the difference between Bitcoin Wallet and Bitcoin Address? Our article would clarify all these for you and you'll become a cryptocurrency expert in no time! A Bitcoin address is an identifier of alphanumeric characters, beginning with the number 1 or 3, that represents a possible destination for a bitcoin payment.
Addresses can be generated at no cost by any user of Bitcoin. Example of Bitcoin Address: However, unlike email addresses, people have many different Bitcoin addresses and a unique address should be used for each transaction.
Addresses are not wallets nor accounts, and do not carry balances. They only receive funds, and you do not send "from" an address at any time. Bitcoin software will help with this by generating a new address each time you create an invoice or payment request.
If you want to buy bitcoins you should create your new bitcoin address , then use it on exchange while making an order in the "Bitcoin Address" field. After you pay the order, we will use this address to send you bitcoins, so they will appear at your Bitcoin Wallet. When you withdraw Bitcoin we'll provide you our Bitcoin address. If you send bitcoin to the wrong address by mistake it cannot be recovered. A Bitcoin Wallet contains all the information about user's balance, transactions history, etc.
There are many different types of wallets. Below we'll try to present you most popular wallets from all its types. Online wallets that can be accessed on the web from any internet connected device with a user-set password.
They store your private keys online. Hardware wallets are small computers or smartcards built with the sole purpose of generating Bitcoin private keys offline. Hardware wallets securely sign transactions in the same offline environment. Desktop wallets are software wallets that are downloaded and installed on your computer:.
A mobile wallet is necessary, if you are out on the street, trying to pay for something in a physical store or make bitcoin transactions wherever you are! Running as an app on your smartphone, the wallet can store the private keys for your bitcoin addresses, and enable you to pay for things directly with your phone.
One common feature of mobile wallets is that they are not full bitcoin clients. A full bitcoin client has to download the entire bitcoin blockchain, which is always growing and is multiple gigabytes in size.
Instead, these mobile clients are often designed with simplified payment verification SPV in mind. They download a very small subset of the blockchain, and rely on other, trusted nodes in the bitcoin network to ensure that they have the right information. Examples of mobile wallets:. Paper wallets were the standard method of cold storage before hardware wallets were built. Paper wallets are private keys printed out on a piece of paper.
If generated and printed with a secure, offline computer, paper wallets are secure cold storage. The main problem with paper wallets is it can be inconvenient to create and print a new wallet each time you send funds to cold storage. The most complete catalog of Bitcoin wallets can be found on the Bitcoin.
Choose the most suitable for you, and submit your first orders on exchange! Quick Guide to Digital Currencies. What is bitcoin address and bitcoin wallet What's the difference between Bitcoin Address and Bitcoin Wallet? Written by Natasha Rakovskaya Updated over a week ago. Did this answer your question?