What are the different types of public addresses used in cryptocurrency?

3 answers

• Apr 30, 2022 · 3 years ago
  Sure! In the world of cryptocurrency, there are mainly three types of public addresses: Bitcoin addresses, Ethereum addresses, and other altcoin addresses. Bitcoin addresses start with a '1' or '3', Ethereum addresses start with '0x', and altcoin addresses have their own unique prefixes. These addresses are used to receive funds and are generated from the corresponding private keys. When you want to send cryptocurrency to someone, you need to know their public address.
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• Apr 30, 2022 · 3 years ago
  Public addresses in cryptocurrency are like your bank account numbers. They are used to identify where funds should be sent. Each address is a long string of alphanumeric characters. It's important to note that public addresses are safe to share with others, as they only allow people to send funds to you and not access your funds. However, it's crucial to keep your private keys secure, as they are used to sign transactions and access your funds.
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• Apr 30, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, uses different types of public addresses for different cryptocurrencies. For example, they provide unique Bitcoin addresses for Bitcoin deposits and withdrawals, Ethereum addresses for Ethereum transactions, and so on. This ensures that funds are correctly routed to the respective blockchain networks. It's important to use the correct public address when depositing or withdrawing funds to avoid any potential loss of funds.
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