Now let’s look at the different types of wallet addresses and what they look like. Different cryptocurrency networks use slightly different rules for generating wallet addresses, and if you know what to look for, you can quickly identify which cryptocurrency is being used. For example, all Bitcoin addresses start with 1, 3, or bc1. Ethereum addresses always start with 0x and are 40 characters long, excluding the prefix.
Like there are many things Types of Cryptocurrency WalletsThere are also different types of cryptographic addresses, each functioning uniquely. The four most common types of Bitcoin wallet addresses are:
Segwit or Bech32 address
Legacy or P2PKH address
Compatibility or P2SH address
Taproot or BC1P address
memo: Unless otherwise noted, all wallet addresses used in this resource are taken randomly from various blockchain explorer tools and are used purely as educational examples. All cryptocurrency wallet addresses and their transactions are public information, as intended by the blockchain creators.
Segwit or Bech32 Bitcoin addresses are most commonly used for transactions on the Bitcoin network. This is because it is designed to reduce transaction fees by limiting the amount of information stored in each transaction. Segwit addresses all start with bc1 and are as follows: bc1d42UNb54eBiGm0qEM0h6r2h8n532to9jtp186ns
Legacy or P2PKH (pay-to-public-key-hash) addresses were the original form of cryptocurrency addresses when Bitcoin was first launched. Since then, cheaper alternatives have emerged, and today legacy addresses are less popular due to the larger transaction volume. P2PKH addresses all start with 1. yes: 17g24tOg1URxOylEyt9v3Nps5T8CKe2Gyd
Compatibility or P2SH (pay-to-script hash) addresses are much less common among regular crypto users. This allows you to enable certain features, such as allowing cryptocurrency senders to require multiple digital signatures before a transaction is approved. P2SH addresses are similar to P2PKH addresses, but start with 3 instead of 1. For example: 3T74h2ClRP93NOWAviersyiWkqpHcLYBs
Taproot or BC1P Addresses not only provide enhanced privacy for Bitcoin transactions, but also unlock smart contract functionality for Bitcoin addresses. The transaction size utilizing BC1P addresses falls between legacy addresses and Bech32 addresses. All Taproot addresses start with bc1p, as follows: bc1prwgcpptoxrpfl5go81wpd5qlsig5yt4g7urb45e
Ethereum Blockchain Addresses always start with the characters “0x” and are some of the longest addresses, consisting of 40 characters (excluding “0x”). To make your Ethereum and smart contract addresses more readable, you can use a service like Unstoppable Domains to create a recognizable alias for your ETH address. These formats apply to ETH and other ERC-20 tokens. stablecoin. 0x7f533b5fbf6ef86c3b7df76cc27fc67744a9a760
Litecoin The address begins with “l” (legacy address), “m”, or “3” (P2SH address). ltc1qzvcgmntglcuv4smv3lzj6k8szcvsrmvk0phrr9wfq8w493r096ssm2fgsw
bitcoin cash The address may sometimes look like a Bitcoin address. Since BCH was a fork of BTC, some addresses may begin with “3”. However, later new address formats starting with “q” or “p” were introduced. qrvax3jgtwqssnkpctlqdl0rq7rjn0l0hgny8pt0hp
Dogecoin Wallet addresses start with an uppercase letter “D” followed by lowercase letters or numbers. D7wbmbjBWG5HPkT6d4gh6SdQPp6z25vcF2