An address for network communication
An IP address helps data travel between networks. When you open a page or send a message, information is carried in packets with addressing information. Routers use that information to forward traffic toward its destination. A postal address is a useful comparison, but an IP address describes a network connection, not a person's legal identity or exact home. Internet Protocol provides addressing and delivery across interconnected networks; other protocols help applications exchange information reliably.
Recognizing the common formats
IPv4 uses 32-bit addresses, usually written as four decimal numbers. IPv6 uses 128-bit addresses, written with hexadecimal digits and colons. 192.0.2.10 and 2001:db8::10 are documentation examples, not the reader's addresses or destinations to test. A device can have several addresses at once, including addresses with different scopes. A longer IPv6 address is normal and does not by itself indicate a fault or a faster connection.
One address does not mean one device
Several phones, computers and televisions can share a public IPv4 address through address translation. A provider may also share an address among subscribers. Conversely, one device may use multiple IPv6 addresses or obtain another address when changing networks. An address alone cannot reliably tell you how many people are behind a connection or whether two visits came from the same person. The surrounding network arrangement matters.
Changes and approximate location
Some addresses are assigned for a limited lease, while others are kept stable by agreement. Switching networks may change the outward-facing address, but a new connection can also reuse an earlier one. Country and city estimates generally come from allocation information and location databases; they are not the same as a device's location sensor. Knowing an IP address does not directly reveal a person's name, street address or private files. Sharing an exit address is not a guarantee of anonymity either.
Device, exit and destination addresses
On home Wi-Fi, your device may use a private address while a website sees the public exit for that connection. The website has its own destination address identifying the service you want to reach. These are different roles: neither the website’s address nor an address in device settings necessarily means “my public IP.” See What can someone do with my IP address? for sharing considerations.