What is my bitcoin address is one question that most new users of cryptocurrencies struggle to answer, in their quest to understand the functionalities of virtual currencies.
To begin with, one would wish to think of what happens in the use of electronic mails. To send an email of whichever nature (formal, informal, friendly, or purely for marketing purposes), all you need is the recipient’s email address, to which you will send your communication.
On the same note, individuals are known to own several email addresses, to easily differentiate their public, official and private lives. They will only disclose certain addresses, on the basis of the nature of your interaction with them.
Bitcoin Address: where is it?
Similarly, people transacting with bitcoins can have several addresses, to which or from which they can send bitcoins to friends, family and clients. In most cases, there is an automatic creation of your bitcoin address, whenever you engage in a transaction.
On the other hand, some systems may automatically ask for such addresses as need arise. And since transactions are of different kinds, care should be exercised to ensure that extra coins are not unnecessarily sent to one address in excess, having used that address for a closed transaction.
To create a bitcoin address does not always call for access to the internet. Such addresses, whose creation is initiated through random figures with keys that are both public and private, can be generated offline even by simply making use of a desktop.
The good news is, you can create as many addresses as possible, whether you get to use them or not. As a matter of fact, you can distribute to each customer a unique address for separate transactions. In most cases, these addresses are made of characters between 27 and 34. These characters comprise of digits selected in random, combined with letters, save for O & 0, 1 and I, which may be ambiguous in the sight of some persons.
While transferring bitcoin addresses from one page or column to another, it is important to do so by copy pasting, since they are usually case-sensitive. To avoid any inconvenience whatsoever (like rejection by system) while using the software, all transcriptions must be done with extra caution.
In the event your coins are held by a given website (and such are many), kindly log in to the website, and you will notice the tab for your address book, and your bitcoin address by default, for a given transaction. Take a look at the illustration here below.
It is important to note that these addresses, to a large extent are synonymous to bank account numbers. One must deliberately see to it that they are correctly indicated in all transactions, lest you be at the risk of missing out on payments.