Your wallet address is the unique identity of your wallet that's used to send and receive cryptocurrency. Each currency has its own logic, but generally they look something like this: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (that's the world's first Bitcoin address, if you were wondering).
In the crypto industry, there are several different formats of wallets. Some are unique to a specific coin and some formats were designed for adaption to multiple different kinds of currencies. Here are the most common types and which ones we accept:
✔ Wallets that begin with a "1"
This is the original format of wallet, also known as Legacy or (P2PKH) wallet, and is incompatible with SegWit improvements.
✔ Wallets that begin with a "3"
Nested SegWit, or P2SH addresses, are a newer form of wallet type that essentially removes some signature data from transactions, lowering the size of the transaction data needed to store in one block, therefore freeing up more space for additional transactions to be added to the same block. This means the network can process more transactions per block and the sender pays lower transaction fees.
✔ Wallets that begin with a "bc1"
Native SegWit, or bech32 addresses, differ from Nested SegWit wallets in that many exchanges. SegWit addresses are backward compatible, meaning that you can send funds from a Bitcoin SegWit address to a Legacy Bitcoin address.
✔ Wallets that begin with a "bc1p"
Taproot addresses are considered to be offering a higher level of privacy, security, and scalability for the Bitcoin network, as well as opening the door to new possibilities for future developments.
✔ Wallets that begin with a “0x”
These are Ethereum wallets. If your order status in your Coinmama account has been completed and you still don't see the coins in your wallet, it's possible that your wallet provider doesn't accept smart contracts. If this is the case, you need to contact them directly to learn what happened to your coins (they may ask you for the transaction hash, and you can find that by clicking the wallet link in your Coinmama account’s transaction history, or by asking one of our Happiness Heroes). For more information on the subject, click here.