In short, there are 4 types of bitcoin addresses. They are listed here from old to new:
- Legacy Addresses
Starting with a 1 - Nested SegWit
start with a 3 - Native SegWit Bech32
start with bc1q - TapRoot
start with bc1p
We will not go into the exact technical aspects of the different addresses here.
What is important to know is that all these addresses are valid and can be used interchangeably. They are "backwards compatible." Another nice thing to know is that the newest versions are often a bit more efficient than the older ones and therefore cheaper to commit to the Bitcoin Blockchain. You pay fewer fees because the transaction itself takes up less space within a block.