A Bitcoin Cash address is a unique alphanumeric string that serves as a digital identifier for a user within the Bitcoin Cash (BCH) network.This address functions similarly to an email address,allowing users to send and receive BCH securely. Bitcoin cash addresses can be in two primary formats: the original cash address, which starts with “bitcoincash:” and the legacy address, which typically begins with “1” or “3”. The choice of format can depend on the wallet or platform you’re using, but both ultimately lead to the same result in facilitating transactions.
When a person wants to transact with Bitcoin Cash, they simply input the recipient’s BCH address along with the desired amount. The blockchain then confirms this transaction, ensuring that the funds move from the sender’s wallet to the recipient’s wallet without the need for intermediaries. Key characteristics of Bitcoin Cash addresses include:
- Public Access: Anyone can see the transactions associated with a Bitcoin Cash address, promoting transparency.
- Security: While addresses are public, the owner retains full control over their funds through their private keys.
- Simplicity: The structure of a BCH address allows for easy sharing, making transactions straightforward.