Do you use one or more Bitcoin addresses?

[hexwin 4931]

Do you use only one or more addresses for Bitcoin?

You should know that using only one address makes you much more easily tracked by anyone,
so best way is to always generate new address when receiving Bitcoin.
This is something everyone can do very easy, and makes you much more private when using Bitcoin.

What do you think about this?

[Wrath 149]

Yes I use more the one bitcoin addresses, I do that so I can't be track easily, multiple addresses means every source of my bitcoin has it own address, no exchange or vendor share addresses, this make it hard to monitor all my transactions in the crypto space.

[Glossy 615]

To be honest I have only one Bitcoin address, but thank you for bringing this to attention. Maybe I will be using Chipmixer if I want to anonimyze transactions...

[Grace 236]

I just use one Bitcoin address.But i have a lot of accounts on different exchanges so i think it wouldnt be that easy to follow me.

[hexwin 4931]

4 minutes ago, Glossy said:

To be honest I have only one Bitcoin address, but thank you for bringing this to attention. Maybe I will be using Chipmixer if I want to anonimyze transactions...

You can use chipmex or some privacy focused wallets like Wassabi or Samourai wallets for this,
but it is best not to use single address to receive Bitcoin.

Ledger for example generates new address every time, and that is good and secure way.
Bitcoin OGs do the same thing

[cryptosix 1643]

I've used 2 addresses only so far, but I am looking to create a new one as  lost one wallet password. I have to take care of every wallet and remember things that shouldn't happen again. Metamask would be my next wallet to store Bitcoins.

 

[Glossy 615]

11 minutes ago, hexwin said:

You can use chipmex or some privacy focused wallets like Wassabi or Samourai wallets for this,
but it is best not to use single address to receive Bitcoin.

Ledger for example generates new address every time, and that is good and secure way.
Bitcoin OGs do the same thing

I didn't know that Ledger creates new address every time... So what happenes when someone wants to put funds from all these addresses in one place? He must pay transactions for every address he made in the past?

[hexwin 4931]

5 minutes ago, Glossy said:

I didn't know that Ledger creates new address every time... So what happenes when someone wants to put funds from all these addresses in one place? He must pay transactions for every address he made in the past?

For ledger:
When you are sending bitcoin it all goes from one main source.
All generated addresses have exact same private key, so that is the main thing.

If I want to send 3 bitcoins, but I have them in several addresses from that key, no extra fees will be charged.

I think same thing should be for Electrum, maybe @xBDT Script can confirm this

Edited October 19, 2019 by hexwin

[iloveyobit 6599]

i have 2  bitcoin wallet adresses but i dont use them anyway , i keep my money in exchanges cause they are more secure and to trade with them too ^^

[hexwin 4931]

10 minutes ago, iloveyobit said:

i have 2  bitcoin wallet adresses but i dont use them anyway , i keep my money in exchanges cause they are more secure and to trade with them too ^^

What the heck are you saying?! How can your coins ever be safe on exchanges?
OMG we really need a lot of education here and for all people who think they know somehing.... 🙄

Edited October 19, 2019 by hexwin

[xBDT Script 4371]

9 minutes ago, hexwin said:

I think same thing should be for Electrum, maybe @xBDT Script can confirm this

Ledger and Electrum functions very similar, from my experience of course.

Here is some basic things about a tx. 

To perform a bitcoin transaction we really need three things:

~ tx input 

~ tx output

~ tx amount

Tx input is the bitcoin address from which the bitcoin will be sent

Tx output is the bitcoin address to where the bitcoin will be sent

Tx amount is the amount of bitcoin that will be sent.

Now, there could be several tx input and several tx output in a tx.

By default in electrum or in ledger when you spend the coins from one tx input then one tx output is the address you are sending and the other tx output is a change address. The change address is just another address of the same wallet. This method actually emty the tx input for anonymity.

In a wallet the private keys are different for each address however it is not recomended to share any of the private keys to anyone from a wallet coz mathematically from one private key one can find the seed of the wallet.

I hope it helps.

 

 

[dana33 302]

I use more than 1 bitcoin address, i think i have more than 3 address for bitcoin because i seperate my coins. 1 for gambling and trading, 1 for stored it for a long time a.k.a investing in bitcoin 😄 

[iloveyobit 6599]

5 minutes ago, hexwin said:

What the heck are you saying?! How can your coins ever be safe on exchanges?
OMG we really need a lot of education here and for all people who think they know somehing.... 🙄

wallets are not  totally safe too 😉 , i keep my money on binance , did u heard that  binance ever hacked ? no i didnt heard too dude and belive im sure of what i said on my self , i keep my money on exchanges to trade with them . 

[xBDT Script 4371]

14 minutes ago, iloveyobit said:

did u heard that  binance ever hacked ?

They did get hack around the time when cryptopia reopened their exchange after the hack of their exchange. The hacker stole 7000 Bitcoin if I am not wrong but here is the best part from Binance:

They did not close or let their users to suffer. They took the liability in their shoulder and kept running the exchange. few months ago they had some other hack as well which was leaking some ID of the users.

Any exchange is not safe. Always use your own wallet.

[starwalkerz 164]

I use many different wallets. It's because of accounting. Even in dealing with small sums, it's just wise to have different streams of money flow through their dedicated channels and therefore produce their own bookkeeping entries too.

[iloveyobit 6599]

yes thank you for the information , i dont use online wallet cause you can easly forget you acces file or somthing and you cant get back your money , i think you understand me but if i wont hold my coin in the exchanges i prefer to put them in a nano ledger .

[hexwin 4931]

Some people are writing retarded answers.... and comparing electrum or ledger with some online wallets and exchanges... They are just waiting to cry very soon, as every single exchanges have been hacked so far.
It will be a lot of tears... 

Edited October 19, 2019 by hexwin

[Ghetto workout 6263]

Yes, I use a lot of Bitcoin addresses in view of the fact that this increases the safety of funds.

I don’t want all my assets to fall into the hands of some lucky hacker.

[bentayebsalah 2280]

I change my primary portfolio every period
And yes I use several WALLETS, including business and personal

[Deborah Christine 410]

1 hour ago, hexwin said:

Do you use only one or more addresses for Bitcoin?

You should know that using only one address makes you much more easily tracked by anyone,
so best way is to always generate new address when receiving Bitcoin.
This is something everyone can do very easy, and makes you much more private when using Bitcoin.

What do you think about this?

For me, I only use one bitcoin address because in many cases I think it's inefficient because it requires a lot of fees. Besides, it's easier to monitor 

[hexwin 4931]

Nice to see that lot of people do use more than one address for Bitcoin.
One good thing is to use more than one wallet, like one of previous members said.
Losing one will not mean that you lost everything. 

[Masterrex 559]

On 10/19/2019 at 6:49 PM, hexwin said:

Do you use only one or more addresses for Bitcoin?

You should know that using only one address makes you much more easily tracked by anyone,
so best way is to always generate new address when receiving Bitcoin.
This is something everyone can do very easy, and makes you much more private when using Bitcoin.

What do you think about this?

Thats true i commonly use more than 7 different address in different wallets to become more private but i think my bitcoin holdings is not that big to gain attention from others users, government survilance on blockchain etc. my main purpose that i mentained 7 BTC wallet  address because im using different wallets.

[hexwin 4931]

4 minutes ago, Masterrex said:

Thats true i commonly use more than 7 different address in different wallets to become more private but i think my bitcoin holdings is not that big to gain attention from others users, government survilance on blockchain etc. my main purpose that i mentained 7 BTC wallet  address because im using different wallets.

Some people will track you even for few satoshis, just to find your real ID
so I will do my best to make their work as hard as I can :)
It is good you have 7 address, no mather how much BTC you have in total,
just keep safe backup of seed and private keys

[bestprofi 372]

So do I. My primary address receives cryptocurrency only from my secondary addresses. I burned once and I'm not risking anything

[Nicecrypto 543]

On 10/19/2019 at 11:49 AM, hexwin said:

Do you use only one or more addresses for Bitcoin?

You should know that using only one address makes you much more easily tracked by anyone,
so best way is to always generate new address when receiving Bitcoin.
This is something everyone can do very easy, and makes you much more private when using Bitcoin.

What do you think about this?

Couldn't have put it better, this is simply the best practices for crypto transactions and I believe most wallets gives you the option to generate new wallet address when you want.