Identifying Your Bitcoin Address
A Bitcoin address (or simply "address") is a 27–34-character alphanumeric identifier that begins with 1, 3, or bc1, representing a potential destination for Bitcoin payments. Users can freely generate addresses—either offline (stored on paper or digital media) or through exchange/wallet services.
Understanding each address format’s pros, cons, and unique traits helps you:
✔ Choose compatible wallets/exchanges.
✔ Gain deeper insight into Bitcoin’s mechanics.
✔ Evaluate security, flexibility, and functionality trade-offs.
Three Bitcoin Address Formats
- P2PKH (Pay-to-Public-Key-Hash): Starts with
1(e.g.,17VZNX1SN5NtKa8UQFxwQbFeFc3iqRYhem). - P2SH (Pay-to-Script-Hash): Starts with
3(e.g.,3EktnHQD7RiAE6uzMj2ZifT9YgRrkSgzQX). - Bech32 (SegWit-native): Starts with
bc1(e.g.,bc1qw508d6qejxtdg4y5r3zarvary0c5xw7kv8f3t4).
P2PKH: The Legacy Format
Example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
Key Features:
- Original Bitcoin address format (still functional).
- Incompatible with SegWit, but funds can be sent from P2PKH to SegWit addresses.
- Higher average fees compared to SegWit due to larger transaction sizes.
👉 Explore Bitcoin wallets supporting P2PKH
P2SH: Advanced Scripting Support
Example: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy
Key Features:
- Enables multisig transactions (requiring multiple signatures).
- Supports non-native SegWit via
P2WPKH-in-P2SH. - Widely compatible with P2PKH/Bech32 addresses.
Bech32: The SegWit-Native Standard
Example: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq
Key Features:
- Lower fees (optimized transaction size).
- Error-resistant (Bech32 encoding reduces typos).
- Limited exchange support (e.g., few platforms allow withdrawals to Bech32).
👉 Compare SegWit wallet options
Bitcoin Address Prefixes
| Network | P2PKH | P2SH | Bech32 |
|-------------|----------|-------------|-------------|
| Mainnet | 1 | 3 | bc1 |
| Testnet | m/n | 2 | tb1 |
FAQ
Q1: Can I send BTC from a P2PKH address to a Bech32 address?
Yes, but fees may be higher due to legacy transaction sizing.
Q2: Why do some exchanges not support Bech32 deposits?
Adoption is gradual—many platforms prioritize backward compatibility.
Q3: Are P2SH addresses safer than P2PKH?
Both are secure, but P2SH enables advanced features like multisig.
Q4: How do I recognize a testnet address?
Testnet P2PKH starts with m/n, P2SH with 2, and Bech32 with tb1.
Final Notes
Choosing the right address depends on your needs:
- Compatibility: P2PKH/P2SH for universal acceptance.
- Efficiency: Bech32 for cost-effective SegWit transactions.