Isn't the address is same as wallet?
The answers above is correct. Just make sure to remember that wallet address is what you use to receive payment and the wallet is what you use to check balance and send payment. Visit this site for more explanation https://en.bitcoin.it/wiki/Address. In short, wallet is the provider and the address is where you will need to send the funds. 
Topic: What is the difference between a bitcoin address and a bitcoin wallet? (Read 325 times)
July 10, 2020, 03:49:16 PM
July 10, 2020, 03:47:59 PM
Something i didn't read in this thread yet.. a wallet is a piece of software or a combination of software and hardware which is an interface for you to access your private keys.
It allows you to easily manage your private keys.
These private keys can sign transactions to send BTC assigned to the corresponding public key.
An address is the hash (RIPEMD160 of SHA256) of the public key.
Wallets do generate a random seed which is then used to derive all of your private keys. At least that's the case for HD wallets (which almost all wallets are).
Most wallets then convert the seed into a mnemonic code (often 12/24 words) for easier backups.
So, TLDR:
Wallets = Software/Hardware to manage your private keys.
Address = Hash of the public key and used as an identifier in transactions.
It allows you to easily manage your private keys.
These private keys can sign transactions to send BTC assigned to the corresponding public key.
An address is the hash (RIPEMD160 of SHA256) of the public key.
Wallets do generate a random seed which is then used to derive all of your private keys. At least that's the case for HD wallets (which almost all wallets are).
Most wallets then convert the seed into a mnemonic code (often 12/24 words) for easier backups.
So, TLDR:
Wallets = Software/Hardware to manage your private keys.
Address = Hash of the public key and used as an identifier in transactions.
July 10, 2020, 01:17:36 PM
There is a very big difference between bitcoin addresses and bitcoin wallets The addresses are the numbers through which we can send and receive money and these addresses are similar to your account number While Bitcoin wallets are applications and sites where we can store and manage our currencies inside completely freely and there are different types of bitcoin wallets.
July 10, 2020, 01:10:01 PM
Some discussed on Bitcoin transaction types. There is a topic for your discussion
How Bitcoin transactions work and what are their types?
How Bitcoin transactions work and what are their types?
July 10, 2020, 12:55:27 PM
- P2PHs,starts with 1: 1QHX6Zttz3JEq2BEBuP95B1fF43ccljp5dm
P2PHs is commonly called as the Legacy addresses
...
Correction: It's P2PKH (Pay-to-PubkeyHash). ...
July 10, 2020, 10:25:45 AM
Misconception, it's wrong. A wallet stores the key, not the coins.
Bitcoins don't exist physically and so can't be stored in a wallet. Bitcoins are recorded in a database (the blockchain) and a wallet is what allows you to transfer BTC from address A to address B using private key and cryptography.
Otherwise, we could duplicate a wallet and double the bitcoins in.
Wow, I didnt realize that I had misinterpreted it all this time and it was really embarrassing. LOL I just found out that the wallet only store the keys, not coins. Thank you for letting me know about this. I reedited my writing so it would not be misinterpreted by other users. Bitcoins don't exist physically and so can't be stored in a wallet. Bitcoins are recorded in a database (the blockchain) and a wallet is what allows you to transfer BTC from address A to address B using private key and cryptography.
Otherwise, we could duplicate a wallet and double the bitcoins in.
July 10, 2020, 10:21:16 AM
Isn't the address is same as wallet?
In short, bitcoin address is like your bank account number.
Wallet is like your bank name (they manage many bank accounts ). 😀😀
It's simplest explanation for new members I guess.
If you want to receive money in your bank account you just give your IBAN in EU or Swift code outside of EU.
In the same way, if you want to receive btc funds you just give your btc address but of course don't share your private key.
It's a really bad idea to think that an address is your bank account, because an address should only be used to receive coins once, and you should give a new address the next time. So, it's closer to something like a one-time payment request. Unfortunately, people, especially beginners, ignore this and indeed use them as "bank accounts". This destroys their privacy and it becomes extremely easy to track all their Bitcoin transactions.
I agree 100 % with you.
I just tried to give him the simplest possible explanation since he obviously never heard about btc or crypto.
I didn't want to confuse him with to complex explanation and used terms he can understand easily.
I didn't say that btc address and bank account are the same.
They, however, have one function the same for both.
Btc address and bank accounts we can use to receive or send funds, bank account for fiat and btc address for bitcoin.
July 10, 2020, 10:16:52 AM
mnemonic seeds (with Electrum) to backup and restore your wallet later.
Not necessarily true. You can get private key in Electrum wallet too. Seed key is for back up the whole wallet while you can get private key of any of your addresses from Electrum too, not only in Bitcoin Core. Each address can be accessed through their private key. To get private key in Electrum, select and click on right button if your mouse and get private key.In bitcoin core, as wallet back up, you have to save the wallet.dat file. While in electrum, to save the wallet, you can save both wallet file and the seed key.
On the other hand, in both bitcoin core and electrum, you can get private key for each of your addresses.
Seed key and private key both are different, it's none kf human readable format. Also, password is to protect the wallet itself.
July 10, 2020, 10:05:24 AM
Isn't the address is same as wallet?
In short, bitcoin address is like your bank account number.
Wallet is like your bank name (they manage many bank accounts ). 😀😀
It's simplest explanation for new members I guess.
If you want to receive money in your bank account you just give your IBAN in EU or Swift code outside of EU.
In the same way, if you want to receive btc funds you just give your btc address but of course don't share your private key.
Well said, Also pick the best bitcoin wallet that you could find and store your bitcoin in that wallet and then find the most reliable bitcoin wallet in your country when you could go in and out of your funds.
With that, you could just store everything in the best bitcoin wallet, and then just send a few to the other wallet when you want to withdraw. Keep in mind that every transaction of your bitcoin wallet is recorded in the blockchain.
July 10, 2020, 08:51:40 AM
It's a really bad idea to think that an address is your bank account, because an address should only be used to receive coins once, and you should give a new address the next time. So, it's closer to something like a one-time payment request. Unfortunately, people, especially beginners, ignore this and indeed use them as "bank accounts". This destroys their privacy and it becomes extremely easy to track all their Bitcoin transactions.
There are 2 bitcoin block explorers have features to analyse and give results on privacy levels:https://blockstream.info and https://blockchair.com/bitcoin.
You can try to type your own addresses or txid to see how good your transactions are and try to figure it out what you can improve on your future transactions.
Blockstream.info does not have privacy score but blockchair.com does have privacy score levels, from 0 to 100 and they classify it into 3 groups: 0–59; 60–89; and 90–100
Document on Privacy-o-meter of Blockchair.com
I keep something in my mind for practice:
- Don't bookmark my bitcoin address on browsers.
- Don't search my bitcoin addresses with browser without Tor.
- Don't store my bitcoin address or txid on any messenger apps.
Wallets have private key
This is kind of wrong statement. Wallet may have seed key or one can use password to encrypt wallet file. But private keys are related with address. Private keys are the key to access a particular address, not the wallet. I hope you got my point.Password is to protect any threats that try to get access on your private key or mnemonic seeds.
July 10, 2020, 08:47:32 AM
Wallets have private key
This is kind of wrong statement. Wallet may have seed key or one can use password to encrypt wallet file. But private keys are related with address. Private keys are the key to access a particular address, not the wallet. I hope you got my point. July 10, 2020, 07:44:05 AM
Isn't the address is same as wallet?
In short, bitcoin address is like your bank account number.
Wallet is like your bank name (they manage many bank accounts ). 😀😀
It's simplest explanation for new members I guess.
If you want to receive money in your bank account you just give your IBAN in EU or Swift code outside of EU.
In the same way, if you want to receive btc funds you just give your btc address but of course don't share your private key.
It's a really bad idea to think that an address is your bank account, because an address should only be used to receive coins once, and you should give a new address the next time. So, it's closer to something like a one-time payment request. Unfortunately, people, especially beginners, ignore this and indeed use them as "bank accounts". This destroys their privacy and it becomes extremely easy to track all their Bitcoin transactions.
July 10, 2020, 07:23:54 AM
Isn't the address is same as wallet?
I'm not going to go into the technicality per se of what you ask, as some have given their full answers to a very simple question.Arguing a question is basic, and in your case perhaps, my assumption, you throw yourself an answer in the OP, but by adding the "?" The transformation in doubt.
Someone could also observe that detail, before. So the point here is, the argument. Anyway, I answer you in simple words, it is not the address! the same as the wallet!
The wallet manages what the "public" address receives, hosts and wants to send.
July 10, 2020, 07:01:56 AM
...The wallet is where you store bitcoin ...
Misconception, it's wrong. A wallet stores the key, not the coins.
Bitcoins don't exist physically and so can't be stored in a wallet. Bitcoins are recorded in a database (the blockchain) and a wallet is what allows you to transfer BTC from address A to address B using private key and cryptography.
Otherwise, we could duplicate a wallet and double the bitcoins in.
July 10, 2020, 06:57:02 AM
Isn't the address is same as wallet?
No. Wallets have private key and many public addresses. I don't promote for Bitamp wallet but you can see my posts on Bitamp as an example for bitcoin address types.It is your key, it is your bitcoin. Secure your key.
With Bitamp wallet, from a single private key, you can have three options to get 3 types of receiving address list, for: standard(1xx), segwit (bxx), and P2SH (3xx). You can choose which types of address you want to use, from the Overview tab or from the Addresses tab. Choose it from the dropdown menu.
The wallet supports change address too.
Additionally, you can import BTC address you get from Bitamp to other wallets, such as Electrum.
On Bitamp, with each receiving address, you will have the key icon, click on it to get private key for that specific address.
Below is an example for you. You should never disclose your private key like that.
On Electrum, click on File > New/ Restore > Import Bitcoin addresses or private key:
- If you copy and paste your BTC address from Bitamp, you will get an imported, watching only on Electrum.
- If you copy and paste your private key from Bitamp, you will get an imported wallet on Electrum.
Name your wallet file and set up a good password on Electrum when you import it.
With Bitamp wallet, from a single private key, you can have three options to get 3 types of receiving address list, for: standard(1xx), segwit (bxx), and P2SH (3xx). You can choose which types of address you want to use, from the Overview tab or from the Addresses tab. Choose it from the dropdown menu.
The wallet supports change address too.
Additionally, you can import BTC address you get from Bitamp to other wallets, such as Electrum.
On Bitamp, with each receiving address, you will have the key icon, click on it to get private key for that specific address.
Below is an example for you. You should never disclose your private key like that.
On Electrum, click on File > New/ Restore > Import Bitcoin addresses or private key:
- If you copy and paste your BTC address from Bitamp, you will get an imported, watching only on Electrum.
- If you copy and paste your private key from Bitamp, you will get an imported wallet on Electrum.
Name your wallet file and set up a good password on Electrum when you import it.
For more generic info, you can read the book:
Specifically the chapters 4 (Keys, Addresses) and 5 (Wallets):
https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch04.asciidoc
https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch05.asciidoc
Quote
Private and Public Keys
A bitcoin wallet contains a collection of key pairs, each consisting of a private key and a public key. The private key (k) is a number, usually picked at random. From the private key, we use elliptic curve multiplication, a one-way cryptographic function, to generate a public key (K). From the public key (K), we use a one-way cryptographic hash function to generate a bitcoin address (A). In this section, we will start with generating the private key, look at the elliptic curve math that is used to turn that into a public key, and finally, generate a bitcoin address from the public key. The relationship between private key, public key, and bitcoin address is shown in Private key, public key, and bitcoin address.
A bitcoin wallet contains a collection of key pairs, each consisting of a private key and a public key. The private key (k) is a number, usually picked at random. From the private key, we use elliptic curve multiplication, a one-way cryptographic function, to generate a public key (K). From the public key (K), we use a one-way cryptographic hash function to generate a bitcoin address (A). In this section, we will start with generating the private key, look at the elliptic curve math that is used to turn that into a public key, and finally, generate a bitcoin address from the public key. The relationship between private key, public key, and bitcoin address is shown in Private key, public key, and bitcoin address.
Quote
Wallets
Bitcoin wallets contain keys, not coins. Each user has a wallet containing keys. Wallets are really keychains containing pairs of private/public keys (see [private_public_keys]). Users sign transactions with the keys, thereby proving they own the transaction outputs (their coins). The coins are stored on the blockchain in the form of transaction outputs (often noted as vout or txout).
Bitcoin wallets contain keys, not coins. Each user has a wallet containing keys. Wallets are really keychains containing pairs of private/public keys (see [private_public_keys]). Users sign transactions with the keys, thereby proving they own the transaction outputs (their coins). The coins are stored on the blockchain in the form of transaction outputs (often noted as vout or txout).
https://en.bitcoinwiki.org/wiki/Bitcoin_wallet
https://en.bitcoin.it/wiki/Address
[General] Bitcoin Wallets - Which, what, why?
July 10, 2020, 06:40:16 AM
Of the many explanation that have been presented to you, no one says that the address of a bitcoin with a bitcoin wallet is the same. The wallet only stores the key and we only use the wallet to receive and send bitcoin if we have the key. All bitcoin is stored on the network and can be seen publicly. Bitcoin addresses are generated from the wallet you downloaded and you can choose a safe wallet to use as your bitcoin storage.
You are also advised to read in detail about the function and use of the bitcoin wallet. That will make you believe that your wallet and address are different.
You are also advised to read in detail about the function and use of the bitcoin wallet. That will make you believe that your wallet and address are different.
July 10, 2020, 06:11:47 AM
- The bitcoin address and wallet are different, the bitcoin wallet where you store all of the bitcoin you have, and in bitcoin address, this is composed of letters and number in a random order, all of the transactions we made are recorded at the blockchain.
Some of them are already answer the question of OP I just want to add something.
- P2PHs,starts with 1: 1QHX6Zttz3JEq2BEBuP95B1fF43ccljp5dm
- P2SH, starts with 3: 3P95B1fF45mDMzBs7LkVa8BZWCfgBDpved
P2SH is called as Sewit Compatible
- Bech32, with bc1: bc1qcgz7de8d26gjceuef0myz6krKtCeg8j
Bech32 are called as Segwit Native
So can we send funds of a legacy address into segwit?, The answer is yes and vice versa.[/list][/list]
July 10, 2020, 05:59:49 AM
How did you end up with the conclusion that bitcoin address is the same as the bitcoin wallet in the first place?
I suggest you read on the wiki page as most of the time basic questions are already answered. Or spend some time reading book or articles that you can find with a google search.
I suggest you read on the wiki page as most of the time basic questions are already answered. Or spend some time reading book or articles that you can find with a google search.
July 10, 2020, 05:53:10 AM
Transactions are stored on the blockchain. All currently unspent transactions for which you can produce a valid unlocking script are yours to spend. A wallet keeps a collection of the keys you need to unlock those unspent transactions, so no bitcoins themselves are stored in a wallet.
You are describing a wallet like it is a bank account, where one account holder has one account number. This is not the case in bitcoin. So one wallet is usually a collection of lot of "addresses".
You are describing a wallet like it is a bank account, where one account holder has one account number. This is not the case in bitcoin. So one wallet is usually a collection of lot of "addresses".
July 10, 2020, 05:41:36 AM
Wallet and address are two different things.
Bitcoin address is an identifier designed to receive payment.
There are 3 types of addresses:
Bitcoin wallet is a software that manages many Bitcoin addresses and private keys.
That is, on one bitcoin wallet there are many bitcoin addresses. When using any bitcoin address of the wallet, you can get bitcoin to your bitcoin wallet.
Example: This is how the list of Bitcoin wallet addresses looks in the Electrum wallet.
Bitcoin address is an identifier designed to receive payment.
There are 3 types of addresses:
- P2PHs,starts with 1: 1QHX6Zttz3JEq2BEBuP95B1fF43ccljp5dm
- P2SH, starts with 3: 3P95B1fF45mDMzBs7LkVa8BZWCfgBDpved
- Bech32, with bc1: bc1qcgz7de8d26gjceuef0myz6krKtCeg8j
Bitcoin wallet is a software that manages many Bitcoin addresses and private keys.
That is, on one bitcoin wallet there are many bitcoin addresses. When using any bitcoin address of the wallet, you can get bitcoin to your bitcoin wallet.
Example: This is how the list of Bitcoin wallet addresses looks in the Electrum wallet.
July 10, 2020, 05:40:04 AM
Isn't the address is same as wallet?
In short, bitcoin address is like your bank account number.
Wallet is like your bank name (they manage many bank accounts ). 😀😀
It's simplest explanation for new members I guess.
If you want to receive money in your bank account you just give your IBAN in EU or Swift code outside of EU.
In the same way, if you want to receive btc funds you just give your btc address but of course don't share your private key.
July 10, 2020, 05:20:04 AM
Isn't the address is same as wallet?
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