August 30th, 2021 | Updated on March 4th, 2022
A Bitcoin address is a unique identifier that serves as a virtual location where the cryptocurrency can be sent. People can send the cryptocurrency to Bitcoin addresses similarly to the way fiat currencies can often be sent to email addresses.
However, the Bitcoin address is not intended to be permanent, but just a token for use in a single transaction. Unlike a digital wallet, a Bitcoin address cannot hold a balance. The address itself consists of 26-35 alphanumeric characters. This string is the public half of an asymmetric key pair.