Deposit and withdrawal guide, can't tell the difference between different addresses? Don't worry, let me tell you.
In the world of Web3, various Layer1s emerge in an endless stream, and the address formats are varied, which is really a headache. In order to help you figure out these addresses, I divide them into three categories so that you won't transfer the wrong account.
1. BTC address
There are four types of Bitcoin addresses: normal address, segregated witness (compatible), segregated witness (native) and Taproot address. They are as follows:
Normal address: starts with "1". This type of address has the most expensive transaction fee. Segregated witness (compatible): starts with "3". Mainly used for multi-signature transactions, in short, it is not for novices. Segregated witness (native): starts with "bc1q", and the fee is cheaper than the first two. Taproot address: starts with "bc1p", which is a more popular one now. This is the inscription receiving address.
2. EVM address
As long as it is an ecosystem with ETH as the core, the address format almost always starts with "0x". Whether it is an EVM-compatible sidechain (such as BSC, a chain of AVAX, etc.) or various L2s (ARB/OP/MATIC, etc.), when you hear the words ETH L2 or EVM compatibility, you can basically withdraw money to an address starting with "0x". You may withdraw to the wrong chain, but at worst you can find it by looking for it.
3. Non-EVM addresses
These addresses are special and the format is not uniform. Including addresses that do not start with "0x" such as Binance Chain, you need to carefully identify them. Some also require additional signature notes when transferring money to be effective. Therefore, when you encounter an address that does not start with "0x", it is best to check the strategy on the Internet. For example, in the case of multiple chains in a network like Binance Chain and AVAX, the withdrawal channels may be completely different.
In short, the addresses of the two major schools of BTC and ETH are easy to identify if you are familiar with them, but non-EVM addresses may have completely different formats and additional requirements when changing chains. Remember these tips and you will never be afraid of transferring money to the wrong address again! Happy trading! đ$BTC #BTCâ