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The bitcoin address is what appears most commonly in a transaction as the “recipient” of the funds. If we were to make an analogy to a paper check, the bitcoin address is the beneficiary, which is what we write on the line after “Pay to the order of.”
Note that each address is public, that is anyone can look at the blockchain to see how many Bitcoin are stored at a given address. Each address is also associated with a unique private key, and it is the private key that gives the holder access to any Bitcoin held at a given address. The address is created by encryption of the public key, which is done immediately and is a simple task, but decrypting the private key from the public address is nearly impossible. Any Bitcoin wallet can create any number of public addresses for receiving Bitcoin.