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Using cryptocurrencies always implies using their addresses. They’re long alphanumeric strings that allow you to send and receive various coins and data securely. Put simply, a crypto address is like a digital mailbox for your digital assets or any other data registered on the ledger. A bank account number for deposits, sort of.
Now, a maybe surprising fact about it: your wallet can issue numerous addresses, “containing” different things —not only your traditional transactions. A smart contract is a crypto address. An autonomous agent is an address. A fungible or non-fungible token (NFT) is also an address on some ledgers. An oracle (a data feed on the ledger) is also an address, and many other things registered on a ledger are also represented by crypto addresses.
An oracle address in Obyte
To make our point more illustrative, this is the Ethereum address of a smart contract:
0xa6794DEc66Df7d8B69752956df1b28cA93f77CD7
This one here is the Ethereum address of an NFT:
0xc2334d29bdb765a69faa4fa4c102a92a80d24cbdc000933c5fb94afe51f25c46
And this one is an Ethereum address we just created to receive funds in a wallet:
0x60a6fcE47Ed0f6600cAEEa785298Af7CAfDb0a78
They’re not very different, right? All of them start with “0x”, a feature that identifies them as belonging to the Ethereum network (or related ledgers), but nothing else. To know what they contain, you need to visit their public explorer —if available.
Not exactly public keys
To tell a bit more technical stuff, crypto addresses are a mathematical simplification of a public key. And what is a public key…? You may wonder. Well, in the background, all crypto transactions work thanks to a pair of cryptographic digital keys: a private and a public key. They’re used to sign and verify messages (or transactions), and they’re also alphanumeric strings, but often longer and more complex than shortened crypto addresses.
For instance, this is a public key on Bitcoin:
03f028892bad7ed57d2fb57bf33081d5cfcf6f9ed3d3d7f159c2e2fff579dc341a
And this is a $BTC crypto address, derived from it:
1J7mdg5rbQyUHENYdx39WVWK7fsLpEoXZy
The Bitcoin address looks like this in a blockchain explorer [Blockchain.com]
So, crypto addresses aren’t exactly public keys themselves, but a summary of them, easier to use and share. Or so they say, at least. In the case above, the pair doesn’t look very different or much less complex than the other. We still have to copy and paste the thing to avoid mistakes, and that’s very important: cryptocurrencies have their own platforms, and they don’t mix with each other without additional steps (bridges like Counterstake).
This means that you can’t, for instance, send $ETH to “1J7” (the Bitcoin address) or BTC to “0x60” (the Ethereum address). You need to use the right type for each ledger, or you’ll lose your assets in the process. That’s why it is advisable to always double-check your crypto addresses before sending funds.
Common Crypto Addresses
How do you avoid mistakes and don’t mix addresses, then? Well, besides double-checking, some exchanges and wallets will warn you that you’re using the wrong type of address. The Obyte wallet, for instance, won’t let you transfer to an invalid address (a non-Obyte type). Now, if you want to identify the network (ledger/coin) from an address alone, here are some clues:
Bitcoin addresses always start with 1, 3, or bc1. Their length varies between 26 and 35 characters. As an additional sample: bc1prwgcpptoxrpfl5go81wpd5qlsig5yt4g7urb45e. Ethereum addresses always start with 0x and are made up of 40 characters (not including “0x”). Ethereum-compatible networks like Polygon, BNB Chain, Fantom, and Avalanche also use this format.
The same 0x address could appear on several chains [OKLink Explorer]
Litecoin addresses can start with l, m, or 3, and have the same length as Bitcoin addresses. Example: ltc1qzvcgmntglcuv4smv3lzj6k8szcvsrmvk0phrr9wfq8w493r096ssm2fgsw Dogecoin addresses start with D and have a length of 34 characters. Example: D7wbmbjBWG5HPkT6d4gh6SdQPp6z25vcF2Monero addresses start with 4 and 8, and are even longer: 95 characters. Example: 4AdUndXHHZ6cfufTMvppY6JwXNouMBzSkbLYfpAV5Usx3skxNgYeYTRj5UzqtReoS44qo9mtmXCqY45DJ852K5Jv2684RgeObyte addresses can start with a digit or upper-case letter (all letters are uppercase). They have 32 characters. Example: DXYWHSZ72ZDNDZ7WYZXKWBBH425C6WZN
Get rid of crypto addresses with Obyte!
All those alphanumeric strings seem to be way too complex for you? We got you! Now, you can receive and send all kinds of transactions without using crypto addresses in Obyte. There are several ways to do it, as a matter of fact. And you’ll only need our friendly wallet and some funds in it, nothing else.
Textcoins: you can create secret twelve words containing any amount, and share it digitally (chats, mail, text, etc.) or physically (printed). The process to do it is quite simple: in the Send tab on the wallet, select “Share Via Message”. On the other hand, if a textcoin was sent to you, you can claim it through the link received or in the Receive tab, by selecting “Claim funds using textcoin.”
Attestations: you can also attest (verify) your email, GitHub profile, or a new username to use them instead of an address. The Bot Store in the Chat tab offers several attestation bots to do this. You just need to select the one you’d prefer (email, GitHub, or username) and follow the instructions. After completion, you can start using any of those items to send and receive funds.
So, are you ready to start trading with and without crypto addresses? We’re waiting for you in Obyte!
Featured Vector Image by Diana Johanna / Vecteezy
Originally Published on Hackernoon
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If you are looking to learn how to start crypto trading, you have probably realized that the market can be overwhelming. With thousands of coins moving 24/7, many beginners jump in based on hype, only to lose their capital.
The secret to becoming a profitable trader isn't guessing where the price will go; it is understanding crypto market structure and trading like an institution, not a retail gambler. This guide will break down the absolute basics every beginner must know before placing their first trade.
1. The Core of Crypto Trading: Understanding Market Structure
To survive in cryptocurrency trading, you must stop looking at indicator lines (like RSI or MACD) and start reading raw price action. The market moves in two primary phases:
The Bullish Trend (Upward Expansion)
In a bullish market, price moves upward in a systematic pattern of Higher Highs (HH) and Higher Lows (HL).
• The Logic: Institutional buyers (Market Makers) drive the price up to break previous resistance levels. When the price pulls back, it creates a Higher Low to mitigate demand before breaking out again.
The Bearish Trend (Downward Distribution)
In a bearish market, the pattern reverses into Lower Lows (LL) and Lower Highs (LH).
• The Logic: The market drops sharply, experiences a minor temporary rally (a Lower High) where retail traders greedily buy the dip, and then drops even harder to trap them.
2. Stop Trading Emotions: Fear, Greed, and the Retail Trap
The biggest reason new traders fail is FOMO (Fear of Missing Out) and Panic Selling.
Market makers understand retail psychology perfectly. They use news events to trigger these emotions:
• The Greed Trap: When good news drops, retail traders rush to buy at the absolute top. Market makers use this buy liquidity to sell (distribute) their bags.
• The Fear Trap: When bad news drops, retail traders panic-sell at a loss. Market makers use this panic to buy your crypto at a heavy discount.
To protect your capital, you must train yourself to ignore the news sentiment and focus strictly on what the charts are telling you.
3. Two Crucial Concepts Every Beginner Must Learn
Before you touch leverage or futures trading, you need to master these two technical milestones on your charts:
Liquidity Sweeps
Markets run on liquidity (stop-losses and liquidation levels). Before the market changes direction, it will almost always stage a fake breakout or dump to "sweep" the liquidity of retail traders. Once those stop-losses are hit, the market makers finally move the price in the intended direction.
Market Structure Shift (MSS)
Never try to catch a falling knife. If the market is dumping and creating Lower Highs, do not buy until you see a Market Structure Shift. This happens when the price aggressively breaks and closes above the most recent valid Lower High on a higher timeframe (like the 1-hour or 4-hour chart). This is your structural confirmation that the trend is reversing.
4. Checklist for New Crypto Traders
• Protect Your Capital: Never risk more than 1% to 2% of your total account balance on a single trade.
• Be Patient: Wait for the market structure to align. If there is no clear pattern, do not trade.
• Master One Strategy: Focus on identifying key support, resistance, order blocks, and structural shifts before moving on to complex systems.
If you found this beginner's guide helpful and want to master the crypto markets, don't forget to Like, Share, and Follow for daily high-probability market insights and education!
$BTC
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