Crypto addresses are like fingerprints: no two are alike, but one careless mistake can ruin everything.
. An address acts as a unique identifier of a crypto wallet, which can be shared publicly for transacting cryptocurrencies.
In this article, we take a good look at crypto addresses, how they work, where to find them and finally, how to identify the significance of the states of the wallet addresses.When a crypto wallet is created, for every token it supports, a unique address gets assigned to the wallet. This address is crucial for making sure the sender can send cryptocurrencies to the intended recipient.
For receiving cryptocurrencies on a particular wallet, a user shares the corresponding wallet address. If the sender sends cryptocurrencies to an unsupported wallet, the user may risk permanently losing the sent tokens.How to find/locate my crypto wallet address? In the case of hardware or paper wallets, users may get a physical printout of the QR code, which can be stored in traditional fiat wallets and shared with others for receiving cryptocurrencies. The state of a wallet address is determined purely by the last time it was used for successfully transacting — sending or receiving — cryptocurrencies. Depending on their current state, crypto wallet addresses fall under three broad categories; namely, active, new and dormant addresses.
For example, monthly active addresses represent all the users that either sent or received cryptocurrency over that particular month. However, a particular address is counted just once over any timeframe, even if it has been an active participant in two or more transactions.
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