Wallet Address
A wallet address is a unique string of Alphanumeric characters that represents a destination for Cryptocurrency transactions. It functions similarly to an email address, allowing users to send and receive digital currencies like Bitcoin, Ethereum, and others. Wallet addresses are generated by Cryptocurrency wallets and are often associated with a specific Blockchain.
Examples:
- Bitcoin Wallet Address:
1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa - Ethereum Wallet Address:
0x32Be343B94f860124dC4fEe278FDCBD38c102D88
Cases:
- Receiving Payments: A user provides their wallet address to a friend to receive payment in Cryptocurrency.
- Sending Transactions: A user inputs a wallet address to send Cryptocurrency to another individual or service.
- Exchanges: Users must provide their wallet address when transferring funds from an exchange to their personal wallet.