Token contract addresses record token rules, while wallet addresses store and manage cryptocurrencies. The contract address (such as Bitcoin's "0x0000...") determines the token function, and the wallet address (such as Bitcoin's "bc1q0cle50v...") is used for transactions. Always use caution and back up your wallet address to ensure safety.
Token contract address and wallet address
Token contract address
The token contract address is recorded on the blockchain Code, which specifies the rules and functionality of the token. This address is like a mailbox to which people can send or withdraw coins.
- Purpose: Any transaction related to the token requires the use of a contract address.
- Format: Usually a 40 or 42 character long string containing letters and numbers, starting with "0x".
- Example: The contract address of Bitcoin (BTC) is "0x0000000000000000000000000000000000000000".
Wallet Address
A wallet address is a public identifier used to store and manage cryptocurrencies, including tokens. It is usually associated with a specific blockchain network.
- Usage: Used to receive or send tokens to others.
- Format: Generally composed of letters and numbers, the length varies depending on the blockchain network.
- Example: The Bitcoin (BTC) wallet address is "bc1q0cle50v832w39n5968mxr3h56vq3yv5ejt80v4".
Difference
- The contract address determines the functionality of the token, while the wallet address is used to store and trade tokens.
- The contract address is fixed, but multiple wallet addresses can be created.
- You need to use the contract address to specify the token type when trading, but you only need to use the wallet address to complete the transaction.
Important Tips
- Be sure to choose the token contract address and wallet address you use carefully.
- Never send funds to addresses provided by suspicious sources.
- Always back up your wallet address in case it is lost or damaged.
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