Bitcoin - Legacy and Segwit Addresses
Difference between the various kinds of Bitcoin addresses
There are three bitcoin address formats currently in use:
- 1.P2PKH addresses which begin with the number "1" Example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
- 2.P2SH addresses starting with the number "3" Example: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy
- 3.Bech32 addresses, also known as "bc1 addresses" starting with "bc1" Example: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq Bech32 is supported by the majority of software and hardware wallets, but only a few exchange platforms. Bech32 is more efficient with block space.