What are the different types of bitcoin addresses available?

3 answers

• Dec 17, 2021 · 3 years ago
  Sure! There are three main types of bitcoin addresses: 1. Legacy addresses (starting with a '1') which are the original bitcoin addresses. 2. SegWit addresses (starting with a '3') which are an upgrade to the legacy addresses and offer lower transaction fees. 3. Bech32 addresses (starting with 'bc1') which are the newest type of bitcoin addresses and are more efficient and error-resistant. Each type of address has its own advantages and use cases, so it's important to understand them before choosing one for your needs.
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• Dec 17, 2021 · 3 years ago
  Bitcoin addresses come in different formats. The legacy addresses start with a '1' and are the most common type. Then there are SegWit addresses that start with a '3' and are an improvement over legacy addresses. Finally, there are Bech32 addresses that start with 'bc1' and are the newest and most efficient type. It's important to note that not all wallets and exchanges support all types of addresses, so you need to check compatibility before using a specific type of address.
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• Dec 17, 2021 · 3 years ago
  BYDFi supports all three types of bitcoin addresses: legacy addresses, SegWit addresses, and Bech32 addresses. This allows users to choose the type of address that best suits their needs. It's always a good idea to use the latest type of address, as they offer improved efficiency and security. However, if you're using a wallet or exchange that doesn't support the newer address types, you can still use legacy addresses without any issues.
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