Bitcoin wallet – How to set up and create a BTC account | BTC Direct

What’s a bitcoin receiving address?

A receiving address is similar to your bank account number. Each bitcoin wallet has a unique bitcoin receiving address. You can share this bitcoin address with others to let them know how to send coins to your wallet.

A BTC address is alphanumeric and always starts with a 1 or a 3. This is an example of a receiving address: 3FZbgi29cpjq2GjdwV8eyHuJJnkLtktZc5. A common question is how to get a BTC address. Each wallet automatically generates a bitcoin address. If you’ve just created a new wallet, then you have a unique bitcoin address right away. When you enter this address on our order form, we’ll know where to send the coins to.

A new bitcoin address is not only generated once you’ve created a new wallet, but after each transaction as well. And for a good reason: when your address regularly changes, your privacy on the network is better protected.

Would you like to use your old bitcoin address again? No problem! Each address on which you’ve previously received bitcoin, can be used again. It doesn’t matter if someone sends coins to your most recent address or to your oldest address- the bitcoins will arrive in the same wallet. In most wallets all generated addresses can be found in the transaction history.

Please note!
For receiving as well as sending bitcoin, always copy and paste the receiving address. This lowers the risk of making a mistake. Don’t write or type the address. All cryptocurrency transactions are irreversible; once the coins have been sent, there’s no way of getting them back.