What is a wallet address?

A wallet address is similar to a bank account number. It’s a unique combination of letters and numbers (assigned and generated separately for each supported cryptocurrency) that is used when making a transfer of funds. Your wallet address can also be represented as a QR code (for convenient transfers using a mobile device). You can use any of these addresses for crypto deposits, as long as it is the correct address type for the cryptocurrency you wish to use.
Additionally, there may be included payment IDs for certain cryptocurrencies. A payment ID is a code unique to each transaction that allows to associate your transaction with your account. This extra identifier allows for the transaction to be matched internally with a particular order. If you enter an incorrect/invalid payment ID, it will result in loss of funds.