A Crypto address is a unique identifier that serves as a virtual location where the cryptocurrency can be sent. People can send the cryptocurrency to Crypto addresses similarly to the way fiat currencies can be sent to account numbers. However, the Bitcoin address is not intended to be permanent, but just a token for use in a single transaction. Unlike a digital wallet, a Bitcoin address cannot hold a balance.
The address itself consists of 26-35 alphanumeric characters. This string is the public half of an asymmetric key pair. The standard format for a Bitcoin address is P2PKH (pay to public key hash). Digital wallets generate addresses through cryptographic operations: The software generates a private key through an asymmetric signature algorithm and then derives the public key from the private one. The user signs with the private key and verifies that signature with the public key.