Bitcoin Address Types & Derivation Paths (1, 3, bc1q, bc1p)
Why does your Bitcoin address start with 1, 3, bc1q or bc1p? A reference for every Bitcoin address type with its prefix, defining BIP, derivation path and xpub/ypub/zpub prefix. Free CSV/JSON + REST under CC BY 4.0.
Quick answer
Every Bitcoin address encodes how its coins can be spent, and you can tell the type from the first characters: '1' is Legacy (P2PKH), '3' is P2SH or wrapped SegWit, 'bc1q' is Native SegWit, and 'bc1p' is Taproot. Newer types generally mean lower fees and better privacy. This reference maps the 6 address types to their defining BIP, their BIP-44-family derivation path (m/44'/49'/84'/86'), the matching extended-key prefix (xpub / ypub / zpub, per SLIP-132) and encoding (Base58Check, Bech32, Bech32m).
Use Native SegWit ('bc1q', BIP84) for everyday single-sig and Taproot ('bc1p', BIP86) where supported — both cut fees versus Legacy '1' addresses. The derivation path purpose (44'/49'/84'/86') and the xpub/ypub/zpub prefix tell a wallet which address type a key produces. Always restore from the correct path.
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| Type | Starts with | Name | BIP | Derivation | Ext. key | Encoding | Notes |
|---|---|---|---|---|---|---|---|
| P2PKH | 1 | Legacy (Pay-to-Public-Key-Hash) | BIP44 | m/44'/0'/0' | xpub | Base58Check | The original Bitcoin address format. Largest inputs, so the highest fees to spend. Still fully valid and accepted everywhere. |
| P2SH | 3 | Pay-to-Script-Hash | BIP16 | varies (e.g. BIP45 multisig) | xpub / Ypub | Base58Check | Pays to the hash of a redeem script. The basis for legacy multisig and for wrapping SegWit ('3' addresses). |
| P2SH-P2WPKH | 3 | Nested SegWit (SegWit wrapped in P2SH) | BIP49 | m/49'/0'/0' | ypub | Base58Check | Native SegWit wrapped in a P2SH '3' address for backward compatibility with old wallets. Cheaper than legacy, dearer than native SegWit. |
| P2WPKH | bc1q | Native SegWit (Pay-to-Witness-Public-Key-Hash) | BIP84 | m/84'/0'/0' | zpub | Bech32 | Native SegWit. 'bc1q' addresses, lower fees, and the common modern default for single-sig wallets. |
| P2WSH | bc1q | Native SegWit Script (Pay-to-Witness-Script-Hash) | BIP141 / BIP173 | varies (multisig) | Zpub | Bech32 | Native SegWit for scripts and multisig — a longer 'bc1q' address (62 chars). |
| P2TR | bc1p | Taproot (Pay-to-Taproot) | BIP86 | m/86'/0'/0' | descriptor | Bech32m | Taproot. 'bc1p' addresses using Schnorr signatures and Bech32m encoding (BIP350) — best privacy for multisig and complex scripts, since key-path spends look identical to single-sig. |
Ties together D-Central’s Bitcoin BIPs reference (BIP-44/49/84/86) and SLIPs reference (SLIP-132 xpub/ypub/zpub). See glossary on native SegWit, Taproot (P2TR), P2SH, Bech32m and BIP44 derivation paths.
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Last reviewed June 20, 2026.