What is a wallet address? A 5-minute beginner's guide to read.

Confused about transferring crypto assets because of a long string of addresses? Let’s clarify everything today.

In simple terms: What is a wallet address?

Think of it as an upgraded version of a bank account. Your bank account is a string of numbers, and the Crypto Assets Address is a string of letters + numbers. If someone wants to send you a coin, they need to use this address.

• Bitcoin Address: 26-35 characters, starting with 1, 3, or bc1
• Ethereum Address: 42 characters, starting with 0x

Each coin's address format is different, this is important — transferring to the wrong chain can lead to total loss.

How did the Address come about?

Behind it, complex encryption algorithms are used to generate a pair of keys:

• Public Key = An Address that can be shared with others (used to receive coins)
• Private Key = A password that must never be shared with anyone (used to transfer coins and prove ownership)

In simple terms: the public key is your receiving code, the private key is your password. Revealing the private key = being directly stolen.

Anti-Pitfall Guide

6 things to do:

1. Use a new Address for each transfer — Increase privacy, do not reuse old addresses.
2. Copy and Paste the Address — It's easy to make mistakes by typing, use copy or scan.
3. Check the Network — USDT can run on multiple chains (Ethereum/TRX/BNB, etc.), if you choose the wrong one, it will be lost.
4. Choose a Regulated Platform — The Address of small exchanges may have issues.
5. Enable 2FA — An extra layer of protection
6. Do not store in the cloud — Private keys/seed phrases must be stored offline

What the heck is MEMO/Tag

Some coins (like XRP and XLM) use shared Address and require a MEMO to distinguish whose money it is.

If you forget to add a MEMO when transferring = the coins will arrive but won't enter your account. At this point, you need to contact the exchange's customer service to retrieve it, and you may also have to pay a handling fee.

How to Check Your Address on Gate

1. Log in to Account → Wallet → Spot Account
2. Click “Deposit Coin”
3. Select the coin and network to top up
4. Copy the Address or Scan the Code

Important: Make sure to confirm the network before recharging. If you are charging BTC, select the Bitcoin network, and don't accidentally choose another one.

The 3 Most Common Mistakes Made by Beginners

• ❌ If you remember the Address incorrectly by one character → the coin is lost
• ❌ Recharged using the wrong network → Coins are stuck on the blockchain
• ❌ Do not share your private key with “official customer service” → directly stolen

Understanding these, you basically won't fall into pitfalls. Check again before transferring coins, don't be afraid of trouble or losses.