What is the purpose of a Bitcoin address checker?
Could you elaborate on the significance and intended use of a Bitcoin address checker? In the realm of cryptocurrency and finance, is it a tool that verifies the authenticity of a Bitcoin wallet address? Does it help prevent potential fraud or scams by identifying invalid or compromised addresses? I'm curious to know if it's a crucial security measure for users engaging in Bitcoin transactions, or if it's more of a convenience feature. Understanding its purpose would be invaluable for those new to the world of cryptocurrencies.