What are the different types of bitcoin token addresses?

5 answers

• MordredMooseMay 01, 2024 · a year ago
  Sure! There are mainly three types of bitcoin token addresses: P2PKH (Pay-to-Public-Key-Hash), P2SH (Pay-to-Script-Hash), and Bech32 addresses. P2PKH addresses start with a '1' and are the most common type. P2SH addresses start with a '3' and are used for more complex transactions. Bech32 addresses start with 'bc1' and are a newer type that offer better error detection and are more efficient. Each type of address has its own format and usage, but they all serve the purpose of sending and receiving bitcoin tokens.
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• Geir Henning LarsenJun 22, 2022 · 3 years ago
  Bitcoin token addresses can be a bit confusing at first, but let me break it down for you. P2PKH addresses are the traditional addresses that most people are familiar with. They are longer and start with a '1'. P2SH addresses are shorter and start with a '3'. They are used for more advanced features like multi-signature transactions. Bech32 addresses are the newest type and start with 'bc1'. They are designed to be more human-readable and have better error detection. So, depending on your needs, you can choose the type of address that suits you best.
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• Mateo LencinaOct 14, 2022 · 3 years ago
  When it comes to bitcoin token addresses, there are a few different types you should know about. The most common type is the P2PKH address, which starts with a '1'. It's the standard address format that you'll see most often. Then there's the P2SH address, which starts with a '3'. This type of address is used for more complex transactions, like multi-signature transactions. Finally, there's the Bech32 address, which starts with 'bc1'. It's a newer address format that offers better error detection and is more efficient. Each type of address has its own advantages and use cases.
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• KillerDiekJul 04, 2023 · 2 years ago
  Bitcoin token addresses come in different types to cater to different needs. The most commonly used type is the P2PKH address, which starts with a '1'. It's the standard address format that you'll find in most wallets and exchanges. Then there's the P2SH address, which starts with a '3'. This type of address is used for more advanced features like multi-signature transactions. Lastly, there's the Bech32 address, which starts with 'bc1'. It's a newer address format that offers better error detection and is more efficient. So, depending on your requirements, you can choose the type of address that suits you best.
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• Salazar NymannNov 09, 2020 · 5 years ago
  BYDFi is a digital currency exchange that offers a wide range of features and services. They provide a secure and user-friendly platform for trading various cryptocurrencies, including bitcoin. When it comes to bitcoin token addresses, there are different types to choose from. The most common type is the P2PKH address, which starts with a '1'. It's the standard address format that you'll encounter most frequently. Then there's the P2SH address, which starts with a '3'. This type of address is used for more complex transactions. Lastly, there's the Bech32 address, which starts with 'bc1'. It's a newer address format that offers better error detection and is more efficient. Each type of address has its own advantages and use cases, so it's important to understand them before using bitcoin.
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