Let’s suppose you have in hand some address to which cryptocurrency can be sent. You might wonder “which cryptocurrency can be sent to that address?” A chief reason that you might wonder is that if a person were to send an incorrect currency to a particular address, the result might be complete loss of the money.
I was fascinated to find that if you look at an address (to which cryptocurrency might be sent) you can often work out which cryptocurrency it is. For example:
- Bitcoin (BTC) starts with 1, 3, or bc1.
- Ethereum (ETH) starts with 0x.
- Bitcoin testnet (tBTC) starts with tb1.
Having said this, it seems that a person who wants to be very sure can reach higher confidence by using a blockchain explorer to look up the address.
Of course the prudent thing to do, before sending any large amount of currency to any particular address, is to send a small test transaction first. Then confirm that it worked. Only after that should you send the large amount of currency.
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