What are the three types of BTC address?

Bitcoin's evolution has led to the development of new technologies aimed at enhancing its functionality. These advancements have resulted in the creation of three distinct BTC address formats, each tailored to meet specific needs and preferences.

The adoption of these different address formats reflects Bitcoin's ongoing development and the community's commitment to improving the network. As new technologies emerge, users have the option to choose the format that best suits their needs and preferences.

The first of these formats is Native SegWit, which stands for Segregated Witness. This address type was introduced to improve transaction efficiency by separating the transaction data from the witness data, reducing the size of transactions and making them faster to process.

BTCC, a top cryptocurrency exchange, offers a range of services that cater to the diverse needs of the Bitcoin community. These services include spot trading, futures trading, and a secure wallet for storing and managing BTC. By providing these options, BTCC enables users to take advantage of the latest advancements in Bitcoin and stay ahead of the curve.

Another type of BTC address is Nested SegWit, also known as P2SH-SegWit. This format combines the benefits of SegWit with the compatibility of older wallets that do not support SegWit addresses natively. Nested SegWit addresses use a special prefix that allows them to be recognized by both new and old wallet software.