What are the different types of bitcoin addresses and how do they differ?

9 answers

• Dec 29, 2021 · 3 years ago
  Sure! Bitcoin addresses come in different formats, each serving a specific purpose. The most common type is P2PKH (Pay-to-Public-Key-Hash), which starts with a '1'. P2PKH addresses are widely used and supported by most wallets and exchanges. Another type is P2SH (Pay-to-Script-Hash), which starts with a '3'. P2SH addresses allow for more complex scripts and are commonly used for multi-signature transactions. Lastly, we have Bech32 addresses, which start with 'bc1'. Bech32 addresses are a newer format that offer benefits like lower transaction fees and better error detection. It's important to note that not all wallets and exchanges support Bech32 addresses yet, so you may need to check compatibility before using them.
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• Dec 29, 2021 · 3 years ago
  Bitcoin addresses can be a bit confusing at first, but let me break it down for you. P2PKH addresses are the traditional addresses that start with a '1'. They are the most widely used and recognized addresses. P2SH addresses, on the other hand, start with a '3' and are used for more advanced transactions, like multi-signature or time-locked transactions. Bech32 addresses are the newest type of addresses and start with 'bc1'. They offer some advantages over the other types, such as lower fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so you need to check if they are compatible with the platform you are using.
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• Dec 29, 2021 · 3 years ago
  When it comes to bitcoin addresses, there are a few different types to be aware of. The most common type is P2PKH, which stands for Pay-to-Public-Key-Hash. These addresses start with a '1' and are widely supported by wallets and exchanges. P2SH addresses, which start with a '3', are used for more complex transactions, like multi-signature or time-locked transactions. Lastly, we have Bech32 addresses, which start with 'bc1'. Bech32 addresses are a newer format that offer some advantages, such as lower transaction fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so you may need to use a different type of address depending on the platform you are using.
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• Dec 29, 2021 · 3 years ago
  BYDFi is a digital currency exchange that supports multiple types of bitcoin addresses. P2PKH addresses, also known as legacy addresses, are the most common and widely supported. They start with a '1' and are compatible with most wallets and exchanges. P2SH addresses, starting with a '3', are used for more advanced transactions like multi-signature or time-locked transactions. Bech32 addresses, starting with 'bc1', are the newest and offer benefits like lower fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so it's important to check compatibility before using them. At BYDFi, we strive to provide a seamless experience for our users, supporting a wide range of address types to meet their needs.
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• Dec 29, 2021 · 3 years ago
  Bitcoin addresses can be categorized into different types based on their format and usage. The most common type is P2PKH addresses, which start with a '1'. P2PKH addresses are widely supported and used by most wallets and exchanges. Another type is P2SH addresses, which start with a '3'. P2SH addresses are used for more complex transactions, such as multi-signature or time-locked transactions. Lastly, we have Bech32 addresses, which start with 'bc1'. Bech32 addresses are a newer format that offer advantages like lower transaction fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so it's important to check compatibility before using them.
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• Dec 29, 2021 · 3 years ago
  Bitcoin addresses come in different types, each with its own characteristics. The most common type is P2PKH addresses, which start with a '1'. P2PKH addresses are widely used and supported by most wallets and exchanges. Another type is P2SH addresses, which start with a '3'. P2SH addresses allow for more complex transactions, like multi-signature or time-locked transactions. Lastly, we have Bech32 addresses, which start with 'bc1'. Bech32 addresses are a newer format that offer benefits like lower transaction fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so it's important to check compatibility before using them.
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• Dec 29, 2021 · 3 years ago
  Bitcoin addresses can be a bit confusing, but let me simplify it for you. There are different types of bitcoin addresses, including P2PKH, P2SH, and Bech32. P2PKH addresses start with a '1' and are the most common type. P2SH addresses start with a '3' and are used for more advanced transactions. Bech32 addresses start with 'bc1' and are a newer format that offers some advantages. P2PKH addresses are widely supported, while P2SH and Bech32 addresses may not be supported by all wallets and exchanges. It's important to check the compatibility of the address type you want to use.
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• Dec 29, 2021 · 3 years ago
  Bitcoin addresses can be classified into different types, each with its own characteristics. The most commonly used type is P2PKH addresses, which start with a '1'. P2PKH addresses are supported by most wallets and exchanges. Another type is P2SH addresses, which start with a '3'. P2SH addresses are used for more complex transactions, such as multi-signature or time-locked transactions. Lastly, we have Bech32 addresses, which start with 'bc1'. Bech32 addresses are a newer format that offer lower transaction fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so it's important to check compatibility.
  65673
• Dec 29, 2021 · 3 years ago
  Bitcoin addresses come in different types, each serving a specific purpose. The most common type is P2PKH addresses, which start with a '1'. P2PKH addresses are widely supported and used by most wallets and exchanges. Another type is P2SH addresses, which start with a '3'. P2SH addresses allow for more complex transactions, like multi-signature or time-locked transactions. Lastly, we have Bech32 addresses, which start with 'bc1'. Bech32 addresses are a newer format that offer benefits like lower transaction fees and better error detection. However, not all wallets and exchanges support Bech32 addresses yet, so it's important to check compatibility before using them.
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