Bitcoin wallet address - a unique identifier. Usually, it begins with the numbers 1 or 3 and consists of 26–35 numeric and alphabetic characters of the Latin alphabet. In fact, a Bitcoin address is an account number, knowing which, you can transfer cryptocurrency to a wallet. Only unlike a bank account, this account is anonymous and does not contain any information about the owner. You can create a BTC address automatically when creating a bitcoin wallet, even without an internet connection. The address will be stored in the settings of Bitcoin wallet.
One user can have as many Bitcoin addresses as he wants. Some wallets create a new Bitcoin address for each new transaction. But to get Bitcoin from a wallet, it’s not enough to know the address, you also need the keys to it. It’s impossible to send money to another wallet without keys.
The cryptocurrency address is stored in a bitcoin wallet, and keys are also stored there. There are cold and hot wallets. Cold wallets are safer, they are recommended to store large amounts of money. They are not connected to the Internet constantly. The best kind of wallets - hardware. It is a device like a flash drive or a removable hard disk. To transfer funds, you need to connect it to your PC and enter the password from the wallet and only after that you can get access to the keys. Also, a sheet from a notebook on which the key is written and which is hidden in a safe place is also referred to as a cold wallet.
Hot wallets - browser or software, they are always connected to the Internet, therefore more vulnerable to hacking. These purses hold a small amount of cryptocurrency, which is needed for transactions. The security of such wallets varies depending on the features of the software.
Sometimes a QR code is used instead of an address. If you manually enter the cryptocurrency address with an error, the bitcoins may end up on another user's wallet and you can't cancel the transfer or return it. It’s a shame to make Bitcoin and lose it due to an input error. QR code allows you to avoid such an error.