Bitcoin Wallet Address Determines What Platform (What is the Essence of Bitcoin Address)

Bitcoin wallet address determines what platform it is. Bitcoin wallet addresses are transferred between different networks. This is determined based on transaction records. The most common method currently is to compare the wallet addresses of the exchange and the transfer methods between different currencies. In general, if you need to send Bitcoin or digital currency from multiple exchanges, you can divide the wallet addresses into many accounts. This allows for easy identification of the funds balance and corresponding transaction types for each user.

What is the Essence of Bitcoin Address

Editor’s note: This article is from Ethereum enthusiasts (ID: ethfans), author: 0x13, translated & proofread by:

“The essence of a Bitcoin address” is the legal definition of cryptocurrency. It can represent the private key of Bitcoin or other digital assets.

What we need to remember when making transactions is that the sender and receiver are not the same person but different individuals or entities who own the wallets. If we use an exchange, this is actually one of the information we need to know.”

Usually, Bitcoin transfers are a form of exchange, not a form of payment. “When you remit money to someone, your address is marked as the other side of that person.”

However, from another perspective, people will notice some interesting things: “If you buy or sell with Bitcoin, its price will decrease.”

Therefore, we believe that Bitcoin as an investment option is important because “they want to invest funds in these funds and make profits”, which is called “holding tokens”. However, at the same time, some people point out that this model may affect whether people’s investment portfolios in Bitcoin are diversified and the future development direction of Bitcoin.

Although Bitcoin has become the investment target of many investors, it is not the most attractive asset type in practical applications. Instead, they may be a more popular asset category-even a less speculative asset such as gold, silver, etc. However, there are also factors that indicate that the potential market demand for Bitcoin is still high.

First, most people are clear about what determines the price of Bitcoin.

According to data from the Bitcoin Treasuries website, the 24-hour BTC/USD trading volume as of June 1, 2020 was about 400 million USD (most of the trading volume occurred in the United States). In addition, due to BTC’s recent rise of nearly 50%, this data also shows a growth trend similar to the end of 2018. However, this ratio is still much higher than the end of 2017. At the beginning of 2019, the market share of BTC/USDT was only 6%, and after reaching around 7% in May, it dropped to about 4%.