"Address, password, private key, mnemonic phrase, Keystore" those things When using a blockchain wallet, there are several terms that must be deeply understood, otherwise it may cause the loss of blockchain assets. These terms are address, password, private key, mnemonic phrase, and keystore.
If we use the analogy of a bank account, the corresponding situations of these five words are as follows: Address = bank card number Password = bank card password Private key = bank card number + bank card password Mnemonic phrase = bank card number + bank card password Keystore+password=bank card number+bank card password Keystore = encrypted private key Keystore + password = private key
As can be seen from the above, as long as there is information in "private key, mnemonic phrase, Keystore + password", the currency is there.
If any information in the "private key, mnemonic phrase, Keystore + password" is leaked, the coins will be stolen by others.
Therefore, it is most important to back up your "private key, mnemonic phrase, Keystore + password".
As the Bitcoin protocol evolves, different types of addresses have emerged in the Bitcoin network to meet security and efficiency requirements. The following are four important types of addresses in Bitcoin: Legacy Address (P2PKH) Legacy addresses are the earliest address format used by Bitcoin. They start with the number 1, for example: 1MbeQFmHo9b69kCfFa6yBr7BQX4NzJFQq9 This type of address is based on the Pay-to-Public-Key-Hash (P2PKH) script. Its transactions take up a lot of space on the blockchain, are relatively slow to process, and are not anonymous enough. Nested SegWit Addresses (P2SH)
This article explains all the questions about the four types of BTC addresses
Bitcoin Four types of addresses are supported: Legacy addresses starting with 1; Nested SegWit address starting with 3; Native SegWit address starting with bc1q; Taproot address starting with bc1p. Question 1: Can these four addresses transfer money to each other? Answer: You can transfer money between each other. Question 2: If I want to receive BTC, which type of address is better?Answer: The Taproot address starting with bc1p.Question 3: What is the chronological order in which these four address types appear?1>3>bc1q>bc1pFrom the perspective of evolution, the latter is more advanced than the former.
Things to note when buying a hardware wallet 1. Be sure to buy it from the official wallet, and don’t buy it cheaply from other places, such as transfer from group friends, gifts from group friends, or purchase from unofficial malls.
Why? Because people's hearts are sinister and easy to be manipulated, wallets are not safe. There are many lessons learned from this. All coins in hardware wallets were stolen.
2. Even if you buy a hardware wallet from the official website, you must use different mnemonic words to verify whether the wallet address has changed. If the wallet address generated by different mnemonic words is the same, it means that it has been tampered with and thrown away immediately.
How to bet big with small money in the bull market?
Based on the situation of several bull markets in recent years, if you want to try your luck in the bull market and earn very large funds with a small amount of money, you can do this:
1. Use very little money and buy coins with a zeroing mentality.
2. Very little, just don’t gamble big, buy it with the mentality that it doesn’t matter even if it goes to zero.
3. The purchase price of the currency is super low and the total market value is lower than that of the currency. How low is it? That is to say, there are a lot of 0 coins, and 10,000 yuan can buy hundreds of millions or tens of millions of coins.
4. It is best to buy newly issued coins and then buy them after they are somewhat popular.
The bull market is here. For those with large amounts of capital, the most reliable logic for buying coins is to buy and sell coins according to the rotation cycle. The details are as follows:
1. Buy $BTC first. In the early stage of the bull market, BTC will rise first. 2. After $BTC rises, sell btc and buy eth. 3. After $ETH rises, sell eth and buy bnb.
In this way, you can outperform the market and exceed the returns of most people in the market.