Wallet Address

A Wallet Address is a unique string of letters and numbers that represents a wallet, exchange, or blockchain address.

This identifier (unique from every other address on the planet) serves as the virtual street address for the specific currency on that currency’s blockchain.

Addresses are specific to a blockchain and they allow you to transact on that blockchain network, giving you the ability to send and receive a currency to another address on that same network.

Addresses, and the transactions made using that address, can be viewed publicly online, using blockchain explorers, who record all transactions that occur on a blockchain.

While the public can view the transactions themselves, personally identifiable information is not tied to the public data.

This semi-anonymous state is called pseudonymity or being pseudonymous.

Addresses vary in length.

For example, Bitcoin addresses are usually 26-35 characters while Ethereum addresses are 40 characters.

Related Terms

Pseudonymity

In blockchain security, the pseudonymous nature of certain blockchains keeps a network user’s identity hidden from other network users while still linking all of the transactions made by that person to a pseudonymous identity that CAN be tracked by almost anyone.

Ethereum (ETH)

Ethereum is a decentralized blockchain platform that makes digital money, global payments, and applications possible using open-source software and smart contract functionality. The big difference between the two is that Ethereum is programmable, meaning you can build and use decentralized apps on the network. That means the Ethereum blockchain can be programmed to do virtually anything.

Bitcoin (BTC)

Bitcoin (BTC) is most well known as a digital decentralized cryptocurrency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries, such as payment gateways or banks or routing services. Think of bitcoin as Internet money, that you can send and receive directly, to and from anyone, and you can use it to pay for stuff.

Wallet

Made up of a unique public address called your public key (similar to your bank account number) that you can share with the world, your friends, family, and other businesses and companies that you trust, to send and receive digital assets. A wallet also stores a private key (much like the PIN that you use to access your bank account at the ATM), which, when combined with the public key, confirms ownership of the wallet, and allows you as the wallet owner to view the digital record of your wallet transactions, and allows you to perform actions such as buying, selling, withdrawing, and swapping funds.

Anonymity

It keeps your identity hidden, you stay anonymous, and allows you to send or receive digital assets with anyone that has a crypto wallet address, anywhere in the world, without a middle man like a bank to question what you’re sending, how much you’re sending, to whom you’re sending it and why.