Is it necessary to keep old bitcoin addresses for future reference?

[Brushless4500KV 4214]

Anyone who has made transactions with bitcoin wallets knows that most wallets (maybe all of them) give us new receiving addresses frequently for the next transaction. This action is to ensure the safety of users but it can make users totally confused because they are left with tons of addresses which can be used only once and each of them contain the details about just one transaction. After a month, you will end up with hundreds of addresses. What should we do about them? Do you write each address and keep it in a notebook or simply forget about it and deal with new ones?

There are websites like Blockexplorer which let you find any details you want about a particular address or block. Has it ever happened to you to look for old transactions through old addresses? Do you still have your previous addresses?

[rekter 8129]

6 hours ago, Brushless4500KV said:

Anyone who has made transactions with bitcoin wallets knows that most wallets (maybe all of them) give us new receiving addresses frequently for the next transaction. This action is to ensure the safety of users but it can make users totally confused because they are left with tons of addresses which can be used only once and each of them contain the details about just one transaction. After a month, you will end up with hundreds of addresses. What should we do about them? Do you write each address and keep it in a notebook or simply forget about it and deal with new ones?

There are websites like Blockexplorer which let you find any details you want about a particular address or block. Has it ever happened to you to look for old transactions through old addresses? Do you still have your previous addresses?

What for? I am trying to keep most of them for taxation purposes or if i get into situation (again) with banks that i need to explain or prove where i am getting my money from.

[LeandroMesa 33]

8 hours ago, Brushless4500KV said:

Anyone who has made transactions with bitcoin wallets knows that most wallets (maybe all of them) give us new receiving addresses frequently for the next transaction. This action is to ensure the safety of users but it can make users totally confused because they are left with tons of addresses which can be used only once and each of them contain the details about just one transaction. After a month, you will end up with hundreds of addresses. What should we do about them? Do you write each address and keep it in a notebook or simply forget about it and deal with new ones?

There are websites like Blockexplorer which let you find any details you want about a particular address or block. Has it ever happened to you to look for old transactions through old addresses? Do you still have your previous addresses?

No i dont, i think is not neccesary, we have to forget about the old ones and stay with the new ones, i think the old are not longer neccesary for anything so dont keep it.

Edited April 13, 2020 by LeandroMesa
Im answering the last question he made

[Kamila 291]

I personally do not store these bitcoin addresses, because I stored them before and never used them, I decided to get rid of them, and now after sending and receiving the cryptocurrency, I do not record them anywhere.

[Brand1 1336]

Frankly, I do not keep any old addresses because I do not need them. I rely on new addresses only because I need them only, and for transactions I prefer to keep them in the form of a momentary screen

[Brushless4500KV 4214]

6 hours ago, Kamila said:

I personally do not store these bitcoin addresses, because I stored them before and never used them, I decided to get rid of them, and now after sending and receiving the cryptocurrency, I do not record them anywhere.

I'm not sure about keeping old addresses but I think they may be useful in one case. If you work with bitcoin and have so many transactions per day, you may need to have access to all your bitcoin addresses. For example, if you are running an online shop which accepts bitcoin payment, you need these information to calculate your revenue or your net profit after a year. You must have all the details about the amounts sent or received. For this reason, you have to record your addresses somewhere in a file to have a full history of all your expenses. I think this is the only place where those old addresses may be of use.

Edited April 13, 2020 by Brushless4500KV

[Zaino34 0]

I don t think it is necessary to keep old addresses without interest because transactions cannot be tracked so I only rely on addresses that are created in each new transaction

[magd 5231]

Bitcoin wallet addresses are the only ones that change constantly. As for Ethereum wallet, they do not change. According to my experience, you can keep the first address. It is just security measures that the wallets carry out. But if you keep the first address, you will always be able to receive it.

[gkapoxm 84]

Depends on your country and what you may do. With crypto, you may need the addresses for tax reasons and to find out how much you got.

[Shahud 1319]

if you feel it gonna need in future for any of thr transaction service then you can keep it and save it in a safe place.but if it is not going to help you then thing to just forget it

[BitcryptoHan 2557]

It is great, i have some platforms to claim back accounts with the the bitcoin address that I signed. So, it is very important at times. 

[johant123 1559]

On 4/13/2020 at 9:04 AM, UT2001 said:

I do think that even the addresses that you one time had are still some how associated with the address that you are currently seeing so it should not be an issue.

Correct, they are all derived from the same public key. You also should not use the same address more than once, to avoid possible security issues. As long as you keep a transactions balance, I don’t think there is no reason to keep previous addresses.

[kadayakito 765]

Depending on the problem and the needs of the user, there are times when old bitcoin addresses are also useful and a party will ask. but not always. If needed or important, keep the address. Not redundant.

[ComeBackIsrael 185]

I don't store these addresses because they are meaningless, I think it's best for each purpose to have a specific address that no one can use later.

[tienda 8776]

There is not any problem keeping the old Bitcoin address because they will be yours addresses for ever and you use them in the future without problem, and also is important for those who signup in such website with address.

[Honny143 13612]

I think its depends which purpose you use like you only use this address for receive bitcoins then you store old bitcoin address, but in my opinion I don't keep old address, I always use new address for any transaction because of my safety.

[jacker 1095]

I did not keep the old address. I feel I have no reason to need it because the new addresses will help me stay safer. The safe thing is that my money is okay, transactions are successful. And the old wallet address I often do not remember. If anyone tries, needs can keep it. It's up to everyone.

[Yunusalemu 0]

well i will say yes if posibly you have everly mafe anu sorts of transactions with it, be it recieving crypto assets or sending out crypto assets, you might not know it could just be usefull and needed some day in the future, and cant be replaced 

[Brushless4500KV 4214]

29 minutes ago, Strangernew1 said:

Well yes i have all of my address saved in a chat. I forward my address to my friend all the time so i have a backup of all the transactions and the address in the chat. 

You did an admirable job of keeping all your addresses because you may need them to have an account of all your expenses but you made a mistake by saving all of them in the chat environment. I strongly recommend you to write down all your public addresses in a Word or Excel file and keep them in an external hard drive (or USB storage) which is not connected to your PC. Chat dialogues are not safe and if someone gains access to your chat history, he can see all your transaction data and trace you.

[Yunusalemu 0]

i too haven't totally copied out my most frequently use bitcoin, Ethereum and other popular crypto currencies addresses off to a paper or on my phone or pc, although i have the two factor authentication service activated, but i think i will copy out those addresses after this. 

[Yunusalemu 0]

15 hours ago, GanDuba said:

I do not think so, it there is any need at all for address to be kept, you will keep the new one which will eventually become old later. 

i personally don't think there is any such things as to be coming old, so far as we use them every niw and later then it should be handled with caution and store properly with backup and reference, tgis are all just precautions to be safe from any unfortunate situation 

[NevermindNe 549]

I think not, such addresses are often useless, I never store old bitcoin addresses and do not use them as I usually use them for anonymous cryptocurrency transfers.

[jamesvince 2389]

I am surprised that you said you received new address for each deposited or withdrawal from your bitcoin wallet. But i am using binance exchange and bitmax exchanges deposited and withdraw each time I have same deposit address of bitcoin and altcoins. And i find no issue regarding payment transfer. 

[IamLeader12 682]

I think this is only necessary if you do not want to spend time creating new cryptocurrency wallets, I personally store them and do not delete them.

[Saboor 511]

I have more addresses of old ones that I have been using with their private keys, I do keep it Incase if one day I can see coins that will mistakenly send to the address