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Bitcoin Vanity Address
It's a normal Bitcoin address that starts with some string of characters that appeals to you. In some way it is a bit like having a personalised number plate on your car.

Most Bitcoin vanity addresses are 34 characters. They consist of random digits and uppercase and lowercase letters, with the exception that the uppercase letter "O", uppercase letter "I", lowercase letter "l", and the number "0" are never used to prevent visual ambiguity.

Some Bitcoin addresses can be shorter than 34 characters (as few as 27 in theory) and still be valid. A significant percentage of Bitcoin addresses are only 33 characters, and some addresses may be even shorter. These shorter addresses are valid simply because they stand for numbers that happen to start with zeroes, and when the zeroes are omitted, the encoded address gets shorter.

For properly-generated Bitcoin vanity addresses, there is one private key which is required for access to the funds assigned to that address.
When using a Bitcoin client, private keys are typically stored in the wallet file. The private key has a special purpose - it is mathematically needed to create valid transactions that spend the funds originally sent to the address. If the private key to an address is lost (for example, in a hard drive crash, fire or other natural disaster), any associated Bitcoins are effectively lost forever. Thats why printing Paper Wallet after Bitcoin vanity address generation process is highly recommended. Paper Wallet is often chosen offline storage method or additional backup solution.

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