Wallet Addresses Vs Contract Addresses

In this article we will outline the differences and the steps to connect a Wallet Address vs a Contract Address on Cryptoworth.

For context, we have provided a definition of a wallet and contract address.

Wallet Address - The wallet address is a unique identifier that is associated with an individual's cryptocurrency asset wallet. The address is used for receiving or sending cryptocurrencies.

Contract Address - The contract address functions as a distinctive identifier for a smart contract deployed on the blockchain. Users can utilize this address to interact with the smart contract, initiating its functions, enabling token transfers, and executing various other operations.

On Cryptoworth if you are ever unsure if you are registering a wallet or contract address, explorers such as Etherscan can help you examine the address in more detail. When searching the address, the explorer will identify if its an wallet address or contract address. 

Example of a Wallet address:

Example of a Contract Address:

On Cryptoworth it is very important that wallets and contract addresses are connected under the correct option as to accurately reflect transaction data. 

Connecting a Wallet

Head to the Connections Tab and select Connect.

You will be given the option to pick between Wallets, Public Addresses and Virtual wallets. 

In this example we will select a public ETH address. 

A yellow warning will appear as reminder to ensure you aren't accidentally connecting a contract address. 

Insert the wallet name and address and select connect.

You have now connected your Ethereum wallet. 

Connecting a Contract

Head to the Connections Tab and select Connect

Under the connection options select Contract Address. You will be given two options to choose from either a Ethereum or Polygon contract address. 

In this example we selected an Ethereum contract. Insert the contract name and address then hit connect.

You have now connected your contract address.