what is a wallet address

8 months ago 32
Nature

A wallet address is a randomly generated set of numbers and letters, typically consisting of 26 to 35 alphanumeric characters. It is used to send or receive digital assets, such as cryptocurrencies, and is a unique public identifier for a crypto wallet. Different types of cryptocurrencies have different formats for wallet addresses, and it's important to use the correct type of address for each cryptocurrency. Wallet addresses are essential for transferring cryptocurrency from one account on the blockchain to another, and they function similarly to an email address, allowing the safe transfer of funds. It's worth noting that a wallet address is also known as a public key and can be shared with others like an email address