Subscribe Free

1.6: Bitcoin Public Addresses

Bitcoin addresses are 26–35 characters long consisting of alphabetic and numeric characters. They can begin with a "1", "3" or "bc1". These reflect three different types of Bitcoin address:

  • P2PKH — starts with "1". This is a pubkey hash as originally set up when Bitcoin was invented.
  • P2SH — starts with "3". These are script hash addresses.
  • Bech32 — starts with "bc1". These are SegWit addresses.

These address types are not mutually exclusive — BTC can be sent to and from any of these types of address to any of the other types. However, in general you want to be using Bech32 for improved speed and reduced costs.

Quick note on Segregated Witness (SegWit)

This was a protocol change implemented in August 2017 as a "soft fork". The witness to the transactions is segregated from the transactions themselves, allowing for increased block capacity leading to significantly reduced fees.

Please feel free to contact us with any questions.