What is a bitcoin wallet identifier and how does it work?

3 answers

• Dec 26, 2021 · 3 years ago
  A bitcoin wallet identifier, also known as a public key or address, is a unique string of characters that allows you to receive bitcoin. It is similar to a bank account number, but instead of being linked to your personal information, it is linked to your wallet. When someone wants to send you bitcoin, they use your wallet identifier to specify the destination. Your wallet identifier is derived from your private key, which is a secret code that only you should have access to. It's important to keep your wallet identifier secure to prevent unauthorized access to your funds.
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• Dec 26, 2021 · 3 years ago
  Sure! A bitcoin wallet identifier is like your digital signature in the world of cryptocurrencies. It is a long string of alphanumeric characters that represents your wallet address. Think of it as your virtual mailbox where people can send you bitcoin. When you want to receive bitcoin, you simply share your wallet identifier with the sender, and they can use it to transfer the funds to your wallet. It's important to note that your wallet identifier is public information, so anyone can see it. However, your private key, which is used to access your wallet and send bitcoin, should be kept secret.
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• Dec 26, 2021 · 3 years ago
  A bitcoin wallet identifier is a unique identifier that is used to receive bitcoin. It is a long string of characters that starts with a '1' or '3'. When someone wants to send you bitcoin, they enter your wallet identifier as the recipient address. The bitcoin network then verifies the validity of the identifier and processes the transaction. It's important to note that your wallet identifier is not the same as your private key, which is used to access your wallet and sign transactions. Your wallet identifier is safe to share with others, but your private key should be kept secure to protect your funds.
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