Bitcoin addresses: Wizard

As a bitcoin core user, it is likely to be aware of the concept of sending bitcoins to several addresses. However, you may not know which address is used when it sends less than 1 bitcoin or more than 1 bitcoin. In this article, we will examine how to determine the reception address for its bitcoin transactions.

Understand Bitcoin addresses

Bitcoin addresses are 34 characters long that begin with the letter (A-Z or A-Z), followed by a series of hexagonal digits. The first character is always “1” (decimal representation 2^10 + 4) and each rear character represents a byte of the direction.

For example, an address such as “1A1BC1234567D” can be divided into components:

• 1: a letter indicating that the transaction is sent

• A: hexadecimal digit that represents the balance of the sending account (in this case 2^10 + 4 = 36)

• 1: Another hexadecimal digit that presents another byte from the consignment account balance

• B: hexadecimal digit that represents the third byte of the consignment account balance

• C: hexadecimal digit that presents another byte from the dispatch account balance

• 12: The first six characters represent the block number and the hash root of the Merkle tree (not relevant to this explanation)

• 7: Another hexadecimal digit that presents another byte from the consignment account balance

Identification of shipping address

When sending bitcoins, you can identify the receiving address using the following methods:

• Check your wallet of the Bitcoin core

  

  : In your Bitcoin Core wallet, go to
  Wallet configuration

  >
  Directions . Search for a transaction displayed by the receiving address.

• Use Bitcoin-QT : ExecutaBitcoin-Qt-Adrress in your system or symbol system. This shows the whole history of transactions, including shipping and reception addresses.

In this example:

• If you send 1 bitcoin to: 1a1bc1234567D, then the receiving address is A.

• To send more than 1 bitcoin to B: 2A1BC1234567D, then the receiving address is B.

Send and receive addresses in bitcoin core

In the Bitcoin core, when you want to send a transaction using multiple addresses (for example, send 3 bitcoins A and B), you can do this by entering each address individually. Here is an example:

`

Bitcoin -qt -address 1A1BC1234567D -From -al -alumunt 0.5

`

This command will send 0.5 bitcoins from your wallet to the specified addresses.

Conclusion

Understanding Bitcoin addresses is decisive for efficient and safe bitcoins transaction. When using this guide, I should be able to identify the receiving address for your bitcoin transactions by sending less than more than 1 bitcoin. Be sure to always use the “Bitcoin-QT` command line or verify your wallet configuration to configure the transaction details.

More sources

More information about the bitcoin core and its characteristics can be found on the [bitcoin.org] page (
web , which provides a complete wizard for the platform.

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