A transparent address is the most common version of a Spacecoin (SPACE) address that all of the wallets support.
When using a transparent address, all transaction data is visible on the blockchain.
A private address is used to send funds without any transaction data visible.
It provides financial freedom because coins cannot be tracked.
A multisig address is similar to a transparent address but it requires multiple signatures.
This provides extra security because the owners of each key will need to confirm an outgoing transaction before it can be sent.