Bitcoin address types

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.

Paxful Wallet allows withdrawals to P2PKHP2SH, and Bech32 addresses.

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