Bitcoin address types
The first characters of a Bitcoin address tell you its format. Four are in common use: legacy addresses that start with 1, script-hash addresses that start with 3, Native SegWit addresses that start with bc1q, and Taproot addresses that start with bc1p. All four hold bitcoin in the same way.
What the note says
- Good
Taproot (P2TR). Fee and privacy effects depend on the transaction that spends it.
- Good
Native SegWit (Bech32). Relative fees depend on transaction structure.
- Info
Script hash (P2SH). The script behind it shows on the chain only when an output is spent.
- Info
Legacy (P2PKH), the original address format. Relative fees depend on transaction structure.
What it means
| Starts with | Format | Since | What it tells you |
|---|---|---|---|
| 1 | Legacy (P2PKH) | 2009 | The original format. Letters and digits in mixed case, 26 to 35 characters. |
| 3 | Script hash (P2SH) | 2012 | The address commits to a script. It can be a multi-signature setup, a wrapped SegWit address or something else. The chain shows which only when a piece is spent. |
| bc1q | Native SegWit (Bech32) | 2017 | Lower case, 42 or 62 characters, with a checksum that catches most typing mistakes. |
| bc1p | Taproot (Bech32m) | 2021 | The newest format, 62 characters. Spends can look alike on the chain whether they used one key or several. |
Spending from the newer formats generally makes a smaller transaction, so the same payment can cost less in fees. How much less depends on the transaction, not on the address alone.
What it does not mean
Age and format alone do not tell you whether the keys are protected or who controls them. The format says nothing about the amount, and an address never changes format. A wallet can hold addresses of several formats at once.
What you can do
If you watch the address, the format identifies how its outputs are locked; it does not identify the wallet, exchange or person using it. If you control it, check which formats your wallet and the sending service support. Always copy the whole address.
Common questions
Is a 3 address always multi-signature?
No. A script-hash address can stand for a multi-signature setup, a wrapped SegWit address or another script. The chain reveals the script when a piece is spent.
Why are bc1 addresses in lower case?
Bech32 and Bech32m addresses can use all lower case or all upper case, but mixed case is invalid. Wallets normally show lower case. Their checksums detect many typing errors; always check the destination rather than relying only on a checksum.
Can an address be converted to another type?
No. An address is fixed. A wallet that supports a newer format gives you a new address in that format, and the old one keeps working.