Posted on: 16. April 2018

Bitcoin Address

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Bitcoin Address : how to send and receive Bitcoins

Bitcoin address is an alphanumeric string (i.e. one that comprises letters and numbers) of between 27 and 34 characters, created according to defined cryptography. Bitcoin addresses always start with a 1 or a 3.

In 2017, a new version was introduced, starting with BC1, but these are not yet valid everywhere. Anyone can set up any number of addresses; the facility is free and works without an online account.

It is also possible to create multiple addresses for trading platforms and Bitcoin wallet providers.

Comparison with email addresses and Bitcoin address

Bitcoin address is often likened to email accounts. Just as we send email from one account to another, Bitcoins can be sent. However, there is a notable difference.

Whereas email addresses are usually long-term or permanent, one-time addresses are advisable for every new Bitcoin transaction. This single-use policy helps to provide extra privacy and security protection.

Each Bitcoin address receives scrutiny within the network before the system transmits the cryptocurrency. Addresses should be copied and pasted to avoid typos, although the probability of typing an existing address is extremely low.

Creating addresses offline

Another option is to create addresses while not connected to the Bitcoin network. This facility is useful for online shops, so they always have a large number available in advance.

Passive income through Masternodes
Editor's recommendation: The Masternode Pool Club GetNode is the only provider of its kind. GetNode allows its members to participate in a unique masternode pool that is already over 100 Bitcoin in size. Through active management of the pool and constant purchase of new masters, GetNode has achieved very good results. So who ever wanted a passive income through Masternodes , here is the change. With a minimum of 1000 Euro or 0.2 Bitcoin a quick start is possible. The deposit can be made via Bitcoin or Euro. The payment is made automatically every two weeks via Bitcoin. We are even invested in GetNode with 1.2 Bitcoin and so far we are very satisfied with the results.

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