One of the things that make cryptocurrencies more anonymous to use is that your real identity is never seen by the public, including the authorities. Instead, crypto assets are stored in wallets, which are only identified by a unique address represented by a string of numbers and letters. Like a physical wallet that keeps your cash, a crypto wallet is a store of crypto wallets. If you own Bitcoin, for example, they will be stored in a wallet identified by the Bitcoin wallet address.
Types of crypto wallets
Crypto wallets can be based on software or hardware but both still rely on the Bitcoin wallet address for identification. In the case of the former, software wallets, these are the ones that are connected to the internet. Think of it like an online bank account, hence why they are sometimes referred to as hot wallets.
But because they are connected to the internet, they face a higher risk of hacking. Nevertheless, certain measures can be taken to protect them such as implementing 2-factor authentication.
These come in different forms, most commonly as mobile apps but also as desktop programmes and even held by a crypto exchange. Their ease of use make them the most common type and thus the focus of this article.
As for cold wallets, they are either hardware or simply printed on a piece of paper. As such, they cannot be hacked but people have often lost these wallets and lived to regret it.
How you can find your Bitcoin wallet address
Where you find your Bitcoin wallet address will depend on the platform you use. There are many such platforms but we recommend Binance as it has proven to be reliable and can handle hundreds of coins. After you have created your Binance account, you will have a crypto wallet too.
Afterwards, you can access your Bitcoin wallet address from both desktop and mobile devices.
On desktop device
- Visit the Binance website from your computer’s web browser and log into your account
- From your account’s main page you will see several offerings from Binance. But since we’re interested in the Bitcoin wallet address, go to the Wallet button at the top of the page and click on Overview from the drop-down menu
- Then click on the Deposit button highlighted in yellow from the next page
- Binance allows you to purchase crypto using fiat, but to see your crypto address you will have to select Crypto Deposit
- When asked which cryptocurrency you want to deposit, choose Bitcoin in order to see the Bitcoin wallet address
- Also choose the network over which the BTC will be transferred
- On the next page, you will be able to see your address and other information pertinent to your Bitcoin wallet
- You can copy this address as it is or request for it as a QR code to share with your friends and clients/customers
On mobile device
- Download the Binance app on your device. It’s available for both iOS and Android on the App Store and Play Store respectively
- Go to your device home screen, locate the app and open it then log into your Binance account using the same details you used on desktop
- The first page you see is the app’s home screen showing various activities you can perform on the platform. But what we’re interested in most is the Wallets section at the bottom-right corner
- Here, you will be able to see an overview of your various crypto wallets and their balances. To see your wallet addresses, tap on the Deposit button highlighted in yellow
- Since Binance supports hundreds, you can have a wallet for each coin. In this case, we’re only interested in the Bitcoin wallet so tap on BTC in the Trending section. If this option is not available, search for it through the search bar at the top
- This will lead you to your Bitcoin wallet address. You will see the QR code displayed prominently and the accrual address below it. From this page, you can copy the address and send it to someone or download the image to share with your friends, customers, etc.
What to keep in mind
Crypto wallet addresses have to be typed exactly as they are; even a slight error would mean that the coins will be sent to a wrong address. Worse, transactions cannot be reversed once processed. Moreover, some crypto wallets do not provide account recovery meaning you can lose your assets if you forget your password. Therefore, you will need to be very careful about where and how you use your crypto wallet.