What is a wallet address and how to identify yours on Bitmama?

Bitmama’s elaborate trading platform allows users to send and receive crypto tokens globally. Although it sounds simple on the surface, sending and receiving crypto could sometime be a headache, especially when you don’t know how to identify the involved wallet address. Basically like a bank account, you need a reference for that specific account in order to receive or send anything. This reference is referred to as a wallet address. What is a wallet address and how do I find it? Basically, platforms like Bitmama make it easy to pull out your wallet address in seconds, and we will show you exactly how!

What is a wallet address?

A wallet address is simply a unique address that identifies your blockchain account. Basically, it is also called a public wallet address. A wallet address allows you to receive crypto associated with that account and also check the amount of crypto stored in that account. However, keep in mind that each blockchain has different addresses and structures of wallets. 

Overall, blockchains are simply like email addresses but for cryptocurrencies. Therefore, similar to how Yahoo and Gmail host their emails on different platforms, crypto coins also have their differences.

For example, a Bitcoin wallet address resembles – bc1qafewqcem4pdd8dyxvypuej9tkujparkw9awxhk 

Ethereum on the other hand, resembles – 0x5DCEb8Ca8729952b71A430070536650F5d958205

Crypto wallets can also be displayed in the form of QR codes. 

Check this out – How to create a USDT retirement plan on Bitmama

How do I find my wallet address? 

On Bitmama, simply follow the instructions below to find your crypto wallet address: 

1. Download the Bitmama app for Android or iOS, register and log in. 

2. Navigate to the verification page in your ”Account” section. Click on the verification button to submit the necessary documents and verify your account up to level 3.

Getting to Level 1, 2 ,3 Verification on Bitmama app is fast, here are short How-to videos on each:

3. On the bottom menu, select “wallet”

4. Navigate to “Crypto Wallet”

5. Select your preferred cryptocurrency (we selected Bitcoin in this example)

6. Click on “Fund”

7. Lastly, copy your wallet address or QR code and share it with the right party

Your wallet will be credited with the sent Bitcoin after confirmation.

How do I use my wallet address? 

You can choose to either deposit crypto directly to your address or share the address with a third party to receive crypto during trading. When you sign up on Bitmama, you can simply deposit your coins from another wallet or exchange. 

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What happens if I send a transaction to the wrong wallet address? 

Unfortunately, blockchain transactions cannot be cancelled or reversed after confirmation. Therefore, always ensure that you double-check the address before receiving or sending funds to avoid problems.

As the best crypto exchange app in Africa, Bitmama offers a secure marketplace for crypto enthusiasts. Perform activities like crypto exchange, crypto staking, and creating virtual dollar or crypto cards for online payment. Get started today by downloading the Bitmama app on Android or iOS.