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Wallet Address

In simple terms

An address is like an account number you can share freely. Anyone can send to it and anyone can look up what it holds, but only the private key behind it can spend from it.

Definition

The public string that identifies where funds can be sent on a blockchain, derived from a public key.

In depth

An address is a shortened, encoded representation of a public key, produced by hashing the key and applying a format-specific encoding with a checksum. The checksum is what lets a wallet reject a mistyped address rather than sending into nothing. Address formats are chain-specific and often network-specific: Bitcoin uses base58 or bech32 forms with distinct prefixes, and EVM chains use a twenty-byte hexadecimal identifier with optional case-based checksumming.

How does Wallet Address work?

A wallet generates a private key, derives the matching public key from it mathematically, then hashes and encodes that public key into an address. The derivation runs one way only, so publishing an address reveals nothing about the key that controls it. Modern wallets derive many addresses from one seed phrase, which is why a wallet can present a fresh address for each receipt while a single backup still restores all of them.

An example

Someone withdrawing from an exchange copies the receiving address from their wallet, pastes it into the exchange, and checks the first and last several characters against the wallet before confirming. The exchange also asks which network to use, and choosing the wrong one is the most common way that withdrawal goes wrong.

Figures are illustrative only.

What beginners get wrong

  • Typing an address by hand. Always copy and paste, then verify the beginning and end, because clipboard-hijacking malware substitutes an attacker's address.
  • Reusing one address for everything. It works, and it also makes the entire history publicly linkable to one person.
  • Assuming an address is chain-agnostic. An EVM address exists on many chains, and sending an asset to it on a chain the wallet does not support can put it out of reach.
  • Treating an address as private information. It is public by design, and the private key is the secret.

Related terms

Part of

How do crypto wallets and self-custody work? — the subject page for wallets and self-custody, with all 13 of its definitions in one place.

Educational only — not financial advice.