What is Bitcoin address ?
Like e-mail, you can send bitcoins to a person by sending bitcoins to one of their addresses. A person can have many different Bitcoin addresses and, for increased privacy and as the only way to know what the bitcoins are received for/from, it is recommended that you use a unique address for each transaction. Most Bitcoin software and websites will help with this by generating a brand new address each time you perform a transaction. Some services provide a facility to request a new Bitcoin address for use with their service when desired.
Samples of Bitcoin address-- b56M5gunupShBVTewXjtqbBv5MndwfXhb.
When using a web site that accepts bitcoins or holds Bitcoin balances on your behalf, that website will assign a Bitcoin address to your account, so you can transfer funds into your account at the site. Very much unlike e-mail, this address may change every time funds come in so care should be taken when sending additional funds to a previously-used address. When you send Bitcoins to your account at a web site, they will usually be credited to your account at that web site after the transaction is confirmed (Network Users).
# Bitcoin addresses are Unique and never reveal your identity.
# Bitcoin address can be created offline using your wallet.
# There is no limit on no. of bitcoin address created by you.(Use new B address for every new transaction for better privacy.)
Now what is bitcoin address technically .Lets understand its concept.
Most Bitcoin addresses are 34 characters. They consist of random digits and uppercase and lowercase letters, with the exception that the uppercase letter "O", uppercase letter "I", lowercase letter "l", and the number "0" are never used to prevent visual ambiguity.
Some Bitcoin addresses can be shorter than 34 characters (as few as 27 in theory) and still be valid. A significant percentage of Bitcoin addresses are only 33 characters, and some addresses may be even shorter. Every Bitcoin address stands for a number - somewhat like an account number. These shorter addresses are valid simply because they stand for numbers that happen to start with zeroes, and when the zeroes are omitted, the encoded address gets shorter.
Several of the characters inside a Bitcoin address are used as a checksum so that typographical errors can be automatically found and rejected. The checksum also allows Bitcoin software to confirm that a 33-character (or shorter) address is in fact valid and isn't simply an address with a missing character.
Bicoin News Portal
Like e-mail, you can send bitcoins to a person by sending bitcoins to one of their addresses. A person can have many different Bitcoin addresses and, for increased privacy and as the only way to know what the bitcoins are received for/from, it is recommended that you use a unique address for each transaction. Most Bitcoin software and websites will help with this by generating a brand new address each time you perform a transaction. Some services provide a facility to request a new Bitcoin address for use with their service when desired.
Samples of Bitcoin address-- b56M5gunupShBVTewXjtqbBv5MndwfXhb.
When using a web site that accepts bitcoins or holds Bitcoin balances on your behalf, that website will assign a Bitcoin address to your account, so you can transfer funds into your account at the site. Very much unlike e-mail, this address may change every time funds come in so care should be taken when sending additional funds to a previously-used address. When you send Bitcoins to your account at a web site, they will usually be credited to your account at that web site after the transaction is confirmed (Network Users).
# Bitcoin addresses are Unique and never reveal your identity.
# Bitcoin address can be created offline using your wallet.
# There is no limit on no. of bitcoin address created by you.(Use new B address for every new transaction for better privacy.)
Now what is bitcoin address technically .Lets understand its concept.
Most Bitcoin addresses are 34 characters. They consist of random digits and uppercase and lowercase letters, with the exception that the uppercase letter "O", uppercase letter "I", lowercase letter "l", and the number "0" are never used to prevent visual ambiguity.
Some Bitcoin addresses can be shorter than 34 characters (as few as 27 in theory) and still be valid. A significant percentage of Bitcoin addresses are only 33 characters, and some addresses may be even shorter. Every Bitcoin address stands for a number - somewhat like an account number. These shorter addresses are valid simply because they stand for numbers that happen to start with zeroes, and when the zeroes are omitted, the encoded address gets shorter.
Several of the characters inside a Bitcoin address are used as a checksum so that typographical errors can be automatically found and rejected. The checksum also allows Bitcoin software to confirm that a 33-character (or shorter) address is in fact valid and isn't simply an address with a missing character.
Bicoin News Portal
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