The world’s most popular cryptocurrency Bitcoin is rapidly climbing various steps daily. Now and then we read various stories associated with Bitcoin. Whether it is regulation, price or any new developments, Bitcoin is always in the news. There are many questions about Bitcoin if you are new in this world. One of the questions is ‘Do Bitcoin addresses expire?’. Let’s take a look at it in more detail.
What is Bitcoin address?
According to the Bitcoin whitepaper, a Bitcoin address is an identifier of 26-35 alphanumeric characters. It begins with the digit 1, 3 or bc1. This describes a potential end for a bitcoin payment. Addresses can be created at zero cost by Bitcoin users. Users can get a Bitcoin address by using an exchange or online wallet. Just like an e-mail address, users can send bitcoins to anyone by using Bitcoin addresses.
Do Bitcoin addresses expire?
Now if you are thinking that if you give someone a BTC address to send you bitcoin, and that person takes 2 months to send you the Bitcoin, then is the address given by you still valid? Will it still go to your Bitcoin wallet?
The answer to this question is: Yes, the Bitcoin address is still valid. Bitcoin addresses don’t expire. Once Bitcoin addresses are generated they never vanish. Always remember to hold the private keys. Once Bitcoin addresses are generated they never vanish. Always remember to hold the private keys. In other words, even your email address may perish if you do not use it frequently but bitcoin address does not ask you to utilize it frequently. It belongs to the user as long as users keep their private keys secure.
As mentioned earlier, Bitcoin addresses are arbitrary numbers, it is possible but extremely difficult, for two people to individually create the same address. This situation is known as a collision. If this occurs, then both the primary owner and the colliding owner could use money sent to that address but not possible for the colliding person to use the primary owner’s whole wallet.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
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Prasanna is a Cryptocurrency/Blockchain writer who loves every slant of cryptocurrency from trading to technology. Cryptocurrency/Blockchain is on the path of changing the world as people know it and Prasanna plans to be there to narrate innovative revolution as it happens.