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BitLift
BitLift

The term “account” is used differently depending on what blockchain you’re working with.

In Bitcoin wallets, accounts are a way to organize addresses and separate funds. You could have a personal account, business account, savings account, etc. each containing a infinite number of addresses. For example, if you have two bitcoin accounts each containing 1 address holding 1 BTC each, you can not send a transaction containing 2 BTC since the funds are spread across separate accounts. You would have to send two transactions. If if those addresses were in the same account, you could send one transaction containing 2 BTC.

In Ethereum, the terms “account” and “address” are used interchangeably. An ETH account starts with 0x…. And there’s no higher level construct for organizing ETH accounts.

Word missing from the glossary or definition needs improvement? Let us know!

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Not financial or tax advice! BitLift content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Talk to a licensed professional. Do your own research. Disclosure: BitLift team members hodl crypto assets and some of the links on this site may pay us a commission. See our legal disclosures.

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