How do I verify my BTC wallet address and why is that important to do?
Why verifying your Bitcoin wallet address is critical and how to confirm it before assigning it to your mining pool.
Verifying your Bitcoin wallet address ensures the block subsidy and transaction fee rewards you earn through Simple Mining actually reach your wallet. Mining payouts are irreversible — a wrong address means your Bitcoin is lost forever — so it is crucial to double-check your wallet address before assigning it to your payout pool.
- In your Bitcoin wallet (e.g., Ledger, Trezor, or a non-custodial software wallet) find your receiving address. It should start with a 1 (Legacy), 3 (SegWit-compatible), or bc1 (Native SegWit / Taproot). Note: Custodial exchange wallets like Coinbase may not support direct mining payouts — check with your provider before use.
- Double-check the format: Legacy addresses (starting with 1) are 25–34 characters; SegWit addresses (starting with 3) are 34 characters; Native SegWit addresses (starting with bc1q) are 42 characters; and Taproot addresses (starting with bc1p) are 62 characters. Addresses contain only alphanumeric characters — no spaces or special characters.
- Optionally, send a small test transaction (a few satoshis) from another wallet or exchange to this address and wait for at least one on-chain confirmation. If the test transaction does not arrive within a reasonable time, do not proceed — recheck your address and wallet compatibility.
- Go to https://mempool.space/, paste your address into the search bar, and check recent transactions. If you took the step above, this is where you can check to see if your test transaction is recorded on the Bitcoin blockchain.
- Once verified, enter this address (and any related pool subaccounts) into your Simple Mining dashboard, and monitor initial payouts on https://mempool.space/.
- You can also add https://mempool.space/ notifications for your address to alert you of incoming transactions for ongoing verification.