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Author Topic: What is the difference between a bitcoin address and a bitcoin wallet?  (Read 273 times)
bob123
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July 10, 2020, 08:47:59 PM
 #21

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.

nakamura12
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July 10, 2020, 08:49:16 PM
 #22

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.
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