What Is A Wallet Address And How Do I Find It?
Wallet addresses are generated from public keys, which differ from private keys. The former can be shared with the public to receive funds, while private keys give access to the wallet and must be kept secret.
You can think of the wallet address as similar to the 16 digits of your credit card, and the private key as the card’s PIN code.
Understanding wallet addresses is crucial for the safety of your crypto holdings, as blockchains have different wallet address formats that may not be compatible.
Today, there are over 64 million Bitcoin addresses and over 317 million Ethereum addresses. A very small percentage of these are active every single day, interacting with other wallets and decentralized applications (dApps) to transact or access certain services.
Key Takeaways
What Is a Crypto Wallet Address?
A wallet address represents a string of digits and letters. This unique identifier is tied to the wallet, which is used to send and receive cryptocurrency.
Here are some examples of wallet addresses:
- Bitcoin address: 1ER3r1gMnYhP88wzeF4XwYsspqaoM85s2P
- Ethereum address: 0xf24a53be74c240f0c7e502292e7087fcc587dc0a
- BSC address: 0xf24a53be74c240f0c7e502292e7087fcc587dc0a
- Solana address: 2Nh4qbZiNPNYNygPCDxh5Livw7L3exiNWdMWSpyV2i6p
- Avalanche address: X-avax1j2z2c6a376fu5fwuaxypx7wy0k537qsqfueh2s
When you set up a crypto wallet, you get addresses like these that you can share with anyone to receive the respective coins. Note that each blockchain network has its own address format, and it is often impossible to accept other crypto assets in a wallet. We’ll get to this a bit later.
As mentioned, the wallet address can be compared to the 16 digits of your credit card. Having a crypto wallet address helps you manage assets efficiently and securely.
While the credit card is tied to your banking account and thus your legal name, a crypto wallet address is pseudonymous. However, due to AML regulations across many jurisdictions worldwide, centralized exchanges link user addresses to their real names, making pseudonymity less relevant.
The wallet address derives from the public key and can be easily shared with different entities, in the same way an email address can.
How Wallet Addresses Work
The wallet address is generated from a public key, which itself derives from a wallet’s private key. These relationships are backed by cryptographic algorithms and are unidirectional, which means there is no way to discover the private key from an address.
The public and private keys are the two main components of a wallet. Here are the most important things to know about this key pair:
- The public key is used to create an address that you can share with anyone to receive funds. The public key derives from the private key, while the resulting wallet address is a shorter, user-friendly version meant for convenient sharing.
- The private key must be kept secret and should not be shared with anyone. It is used to authorize wallet operations like token transfers and swaps, etc. If someone gains access to your private key, it can initiate crypto transactions and steal your funds.
Whenever you set up a new crypto wallet, whether it’s a hot or cold one, it generates a private key, from which the public key and one or several addresses are automatically derived. The latter can be shared with anyone to receive crypto funds or copy-pasted to deposit crypto from another wallet.
How to Create and Find Your Wallet Address
In order to send and receive crypto, you have to create and set up a digital wallet, which automatically generates wallet addresses for you.
There are two main types of wallets: hot wallets and cold wallets. Let’s quickly explore what they represent:
- Hot wallets are connected to the internet and come in the form of browser extensions, mobile apps, or desktop applications. They’re ideal for regular use. Hot wallets can be custodial and non-custodial. Custodial wallets are offered by centralized platforms like Coinbase or Binance, which manage your private keys. On the other hand, non-custodial wallets like MetaMask give you full control over your crypto funds.
- Cold wallets are non-custodial by definition, as they keep your private keys offline. The most popular type is a hardware wallet – a physical device that connects via USB. The two most popular brands are Ledger and Trezor.
Creating a Wallet Address
Creating a wallet address is easier than you might expect. Technically, you simply have to set up a crypto wallet, which automatically provides you with an address. You can register with a centralized exchange or get your own wallet app.
For example, you may opt for a non-custodial hot wallet like MetaMask, whose most popular version is the browser extension. To set up a wallet like this, you should follow a few simple steps:
- Go to the official site of MetaMask or the wallet page you opt for and get the browser extension.
- Add the extension to your browser and create a new wallet.
- You will be required to create a strong password and will be asked if you want to further secure your wallet with a seed phrase. It is recommended that you agree and write down the secret recovery phrase consisting of 12 random words. Make sure to write it down instead of copying and pasting it online! With this seed phrase, you will be able to access your wallet in the case of device damage or loss.
- Once you confirm the seed phrase, you have your new wallet ready. It already has the address to which you can deposit crypto funds.
MetaMask is an EVM wallet where you can store tokens, including non-fungible tokens (NFTs), hosted by EVM chains like Ethereum, Arbitrum, and Base.
If you want to receive Bitcoin, you need to set up a wallet like Exodus or BitPay by following similar steps.
Trust Wallet is a MetaMask-like wallet that also supports Bitcoin, Solana, Cardano, and many other chains.
Locating Your Wallet Address
After installation, finding your wallet address is usually very easy. In most wallet apps or crypto exchanges, you can open the wallet or account, select a specific cryptocurrency, like Ethereum or Bitcoin, and tap or click on “Receive” or “Deposit.” Your wallet will be displayed as a long string of numbers or letters similar to the examples shared earlier. You can also copy your address as a QR code.
For example, on MetaMask, you can find your address at the top of the main page or by clicking on “Receive”.
On Binance, you should select the coin and its underlying blockchain, and you’ll be able to see your wallet address.
Always pay attention to the address format when sending or receiving crypto. Bitcoin, Ethereum, Solana, Cardano, and other blockchains use unique address formats, and sending a coin to the wrong address can result in a permanent loss. For example, you should never send BTC to an Ethereum address.
Using Wallet Addresses for Transactions
After setting up a crypto wallet, you can easily send and receive cryptocurrencies, including utility tokens, stablecoins, and NFTs. With a non-custodial wallet, you can also interact with dApps.
Here is how to use the wallet address to send and receive crypto:
Sending Cryptocurrency
When you want to send crypto to someone else, you have to know their crypto wallet address. In your wallet, you should click on “Send” and enter the exact address and the amount you plan to send.
You should always double-check the wallet address before confirming the send transaction. If you send funds to the wrong address, there is no way to recover them – blockchains don’t have any customer support or possibility to reverse transactions.
Also, make sure that you send the funds on the correct blockchain, which is especially relevant for EVM chains. This is because you may have the same address for multiple EVM chains, including Ethereum, Base, Arbitrum, or Polygon. For example, if you intend to send USDC on Ethereum but accidentally send it on Base, the funds may not appear or could be lost.
Receiving Cryptocurrency
Receiving crypto is even more straightforward. You just need to share your wallet address or provide a QR code when possible. As mentioned earlier, most wallets display the address in the “Receive” section.
Again, make sure that the address you send is correct. Most wallets enable you to copy the address with a click to avoid errors.
Remember that blockchain transactions are public, making it possible for anyone to see that your address received funds. While your address doesn’t reveal your name, all transactions related to it are displayed on the blockchain explorer.
In this example, you can see the Bitcoin address, its balance, and its entire transaction history.
Security Best Practices for Wallet Addresses
The crypto wallet is your gateway to Web3, but you should carefully manage your addresses and private keys to avoid potential losses and theft.
Let’s discuss some common practices to manage your crypto.
Safely Sharing Wallet Addresses
You can share your wallet address with anyone, but you should never reveal your private key or the recovery phrase. These give full access to your wallet and the crypto funds stored on it.
Also, when you want to share your wallet address, don’t select it manually but instead use the “copy” button to avoid errors.
If you want to receive a large amount of crypto, it’s a good idea to start with a small transaction to make sure everything works correctly.
Once crypto is sent, it can never be reversed, with the transaction being permanently stored on the blockchain.
Avoiding Common Scams
The crypto market is flooded with scammers implementing clever social engineering schemes. You should stay vigilant against any potential attacks.
One common scam is address poisoning, in which cybercriminals create a wallet address very similar to the one you had already dealt with before. They can send you small amounts of tokens to create a fake transaction history. This might trick you into sending crypto to the scammer’s address instead of the original one.
To avoid this, verify the address to which you’re sending funds and test it with a small transaction. Don’t copy addresses from your transaction history.
https://x.com/mononautical/status/1883802593677435065
In April 2025, Jameson Lopp, co-founder and head of security at Bitcoin storage firm Casa, warned against rising Bitcoin address poisoning attacks, suggesting that this scam was not fading away.
Enhancing Wallet Security
If you want to have peace of mind that your crypto is stored safely, choose a reputable wallet with robust security features. While crypto exchanges offer convenience, they present a higher security risk compared to a self-custody wallet.
Non-custodial wallets like MetaMask or hardware wallets like Ledger or Trezor are more secure because they give you full control over your funds.
Always enable two-factor authentication (2FA) where possible and keep your software or firmware updated. Also, store the recovery phrase safely.
When you initiate transactions or interact with dApps, make sure you’re dealing with official websites.
Types of Crypto Wallet Addresses
Different blockchains use different wallet address formats, which do not depend on the crypto wallet provider. Therefore, by looking at an address, you can identify the underlying blockchain if you know what to check.
For example, Bitcoin addresses always start with 1, 3, or bc1, while Ethereum addresses start with 0x.
Here are the main types of crypto wallet addresses:
Bitcoin Wallet Addresses
Bitcoin has changed over time by implementing several upgrades, which have affected its wallet address convention. It has several types of addresses:
- Legacy Addresses (P2PKH): These are the original Bitcoin addresses and start with “1,” e.g., 1ER3r1gMnYhP88wzeF4XwYsspqaoM85s2P. While these addresses are widely supported across wallets and exchanges, using them involves slightly higher transaction fees.
- SegWit Addresses (P2SH): These addresses start with “3.” They came out during the Segregated Witness (SegWit) upgrade from 2017, which improved efficiency and cut transaction fees. These addresses enable more advanced features like multi-signature wallets.
- Bech32 Addresses (Native SegWit): These start with “bc1,” being the latest format. They offer enhanced features like error detection, lower fees, and greater efficiency. Another distinctive aspect is that all letters in this address format are lowercase.
Ethereum Wallet Addresses
Ethereum wallet addresses follow a different structure, which applies to all EVM chains, including Layer 2 rollups like Arbitrum and Base.
All Ethereum addresses begin with “0x” followed by 40 hexadecimal characters. The address represents the last 40 characters of the Keccak-256 hash of its public key, which itself results from the private key.
For example, the public key may look like this:
0x045a1593c5b2cb82af0c754eecb3cfa3bdf28b70a20ff27ae6a75ba269ddfe436dfb3c0a6e6aab0a9df2ed2be9eb92bb8abcced2a1c0b7b7f5e3c40c7f6b2f8c0f By using the Keccak-256 hash function, we get a fixed-length output of 256 bits, and the last 40 characters of this hash form the address, which looks like this: 0x90f8bf6a479f320ead074411a4b0e7944ea8c9c1 Beyond Bitcoin and EVM chains, each blockchain has its own address style. Here are some examples: Some of these newer features include wallet name services and multi-sig wallets. Wallet name services enable users to replace complex addresses with human-readable names. One of the most popular solutions offering this is the Ethereum Name Service (ENS), a product of ENS Labs. Instead of copy-pasting long addresses, the ENS enables you to register a simple name like John.eth. By sharing this, you could receive ETH and other supported tokens. It works similarly to the Domain Name System (DNS), which turns IP numbers into readable website names like google.com. ENS and similar services improve user experience by reducing the risk of errors when sending and receiving funds. They are also great for branding – a custom name creates an image, inspires trust, and increases visibility. Some services, including PayPal, allow you to receive crypto using ENS usernames. ENS Labs is now developing an entire Layer 2 chain called Namechain, which will use zero-knowledge proof (ZKP) technology to simplify address management and scale Ethereum. The ENS solution has been used to create over 2 million names for more than 880,000 users. Besides individual wallets, companies can use multi-signature (multi-sig) wallets for increased security. These wallets require approval from several private keys (parties) before a transaction is confirmed. An example is a 2-of-3 wallet, where two out of three designated entities must approve the transfer before it goes on-chain. Multi-sig wallets are popular among organizations, companies, investment groups, and teams, as they reduce the risk of a single point of failure and unauthorized or erroneous transactions. Even if one private key is compromised, an attacker cannot move funds without the other key’s approval. These unique strings of numbers and letters work similarly to email addresses and help you send and receive crypto. The address format depends on the underlying chain, whether you’re using Bitcoin, Ethereum, Solana, or Avalanche. When interacting with wallet addresses, make sure to implement security practices, which can make all the difference. Always double-check each address, use the correct blockchain, and never expose your private keys and recovery phrases. Tools like the ENS and multi-signature wallets can bring more convenience and protection. By learning the basics of wallet addresses, you can navigate the Web3 ecosystem with confidence.
Other Cryptocurrency Wallet Addresses
Elsewhere, the EVM-compatible C-Chain follows the Ethereum format, and its addresses begin with “0x”.Wallet Address Management
Managing your crypto wallet can become challenging if you interact with multiple chains. The good news is that there are new technologies and tools that make it easier to manage addresses and avoid potential errors and scams.Wallet Name Services
Multi-Signature Wallets
Conclusion
The storage and management of cryptocurrency directly involves wallet addresses, which is why it’s imperative to understand how they work and what the potential risks are.Crypto Wallet Addresses FAQ
What is a crypto wallet address?
How is a crypto wallet address generated?
Can I use the same wallet address for different cryptocurrencies?
Is it safe to share my wallet address publicly?
What happens if I send crypto to the wrong wallet address?
Why does my wallet address change after each transaction?
How do I verify the legitimacy of a wallet address?
What are the differences between public and private keys?
How do wallet name services like ENS work?
How do I secure my crypto wallet?
References
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