When using your crypto wallet be sure to generate new bitcoin addresses

[BrolySSJ]

There are many wallets that are released that have the feature to generate a new wallet address for your coins. You may notice this as a round arrow that is next to the address that is displayed in your wallet. In my opinion, this is a very valid feature as the wallets that we have are recorded on the blockchain, and therefore the transactions can be seen as such as well.

Therefore, this can make you a prime target when it comes to hackers and so forth. And in my opinion it is good to constantly change your address to avoid drawing this attention to you.

Do you guys regularly change your bitcoin wallet addresses? What are your thoughts on why this is necessary?

 

[Chumzy]

I think it should be a normal practice to always change your public address or public key as some will call it. The most important thing is that your private key is safe and you have a good memory of the pass phrase. Changing or requesting a new public key everytime you want to receive money is a practice everyone should take seriously.

 

[Taimoor Jutt]

Nice information but anyone who uses this he would know this. Its helpul for those who are just newcomers. But keep your privacy is the real thing for someone. As the key or private key will be the most important thing. But changing address should be habit.

 

[Sammyesx]

That's a very good observation, it will helpful to starters, changing address make it harder for someone to notice your transaction if you make transactions very often which would In turn keep you wallet save and secured from potential hackers.

 

[ahmedo24]

Initially this is what I was doing with the blockchain wallet i was using but when I started using Trust wallet I discovered it has only one unique address but now that I am using blockchain again I have not noticed if it is one or has ability to generate new address, henceforth I will take note.

 

[moonlight]

Nice details, but it will be known to anyone who uses this. For those who are just beginners, it's a help. Yet keeping someone's privacy is the real thing. The most significant item would be the main or private key.

Post automatically merged: Jan 22, 2021

Nice details, but it will be known to anyone who uses this. For those who are just beginners, it's a help. Yet keeping someone's privacy is the real thing. The most significant item would be the main or private key.

 

[Asad Ali]

Do many people know how to cheat?They share their addresses on online websites, many fake websites get hacked because they have the address.These websites only collect user data and are used by hackers Therefore, a new address should always be created for the withdrawal,To be safe from hackers

 

[btaliat]

To be candid, this is the first time I am hearing this. I used only the wallet that my wallet generate for me and I don't always change anything. I will be taking note of this henceforth.

 

[Osaz96]

I do not change by crypto wallet addresses as I didn’t see a possible of being a prime target to scammers and thieves online. This is innovative and I’ll try implementing this idea in my crypto wallet but I have a question. How is it possible to be a prime target or to loose funds through your wallet address when you have your 12 or 24 seed phrases

 

[chicnthin]

That's right. I recently learned that coinbase provides new bitcoin addresses. One time when I copied the address then I copied again the next time I uses it, I noticed that it has different address. But on my other crypto wallet, the address was just the same. Maybe it depends on the wallet's policy, I don't know.

 

[ahmedo24]

That's right. I recently learned that coinbase provides new bitcoin addresses. One time when I copied the address then I copied again the next time I uses it, I noticed that it has different address. But on my other crypto wallet, the address was just the same. Maybe it depends on the wallet's policy, I don't know.

Yeah this address scheme differ from one wallet to another , I also like the concept of generating new address any time but since some wallets I used don't support it, I go with what the wallet generate

 

[chicnthin]

Yeah this address scheme differ from one wallet to another , I also like the concept of generating new address any time but since some wallets I used don't support it, I go with what the wallet generate

I remember I got nervous when I found out because I thought I pasted the wrong address. That's why it's better to always copy and check the address.

Though sometimes, I prefer to use the same address.

 

[Lagazine]

There are many wallets that are released that have the feature to generate a new wallet address for your coins. You may notice this as a round arrow that is next to the address that is displayed in your wallet. In my opinion, this is a very valid feature as the wallets that we have are recorded on the blockchain, and therefore the transactions can be seen as such as well.

Therefore, this can make you a prime target when it comes to hackers and so forth. And in my opinion it is good to constantly change your address to avoid drawing this attention to you.

Do you guys regularly change your bitcoin wallet addresses? What are your thoughts on why this is necessary?

To me, I don't believe in changing wallet address from time to time. All I know is that your wallet addresses can't be scammed if you don't lost your 2FA or password to an external person. I've been using my wallet address for quite sometimes now without any problem.

 

[idhans]

There are many wallets that are released that have the feature to generate a new wallet address for your coins. You may notice this as a round arrow that is next to the address that is displayed in your wallet. In my opinion, this is a very valid feature as the wallets that we have are recorded on the blockchain, and therefore the transactions can be seen as such as well.

Therefore, this can make you a prime target when it comes to hackers and so forth. And in my opinion it is good to constantly change your address to avoid drawing this attention to you.

Do you guys regularly change your bitcoin wallet addresses? What are your thoughts on why this is necessary?

I lost more than $100 in my trust wallet last year from hackers. Your post is very informative and people should be very conscious of their wallet privacy. Changing bitcoin wallet address is an interesting feature people should never underestimate.

 

[BrolySSJ]

To me, I don't believe in changing wallet address from time to time. All I know is that your wallet addresses can't be scammed if you don't lost your 2FA or password to an external person. I've been using my wallet address for quite sometimes now without any problem.

Whilst this is true, and it does make sense if you have a good security the concern is that if you have the same address that address is recorded on the blockchain. Therefore, if there is a hacker that is monitoring accounts he can see the transactions that are made from your account and in that way he will be able to deduce or guess what your wallet balance is and can target you for hacking. 2fa might keep you safe, but it is best to take extra precautions and change your address every now and then.

 

[Akinwale701]

There are many wallets that are released that have the feature to generate a new wallet address for your coins. You may notice this as a round arrow that is next to the address that is displayed in your wallet. In my opinion, this is a very valid feature as the wallets that we have are recorded on the blockchain, and therefore the transactions can be seen as such as well.

Therefore, this can make you a prime target when it comes to hackers and so forth. And in my opinion it is good to constantly change your address to avoid drawing this attention to you.

Do you guys regularly change your bitcoin wallet addresses? What are your thoughts on why this is necessary?

I don't personally buy the idea of regularly changing my wallet address. I'm a bitcoin merchant, I buy and sell and I have many people that send Cryptocurrency to my wallet. Now, changing my wallet regularly can't work for me because it's at a great risk. What if coin is sent to my old wallet and it doesn't drop in my new wallet?

 

[Kinglegend01]

I think it Is a good suggestion and a good observation,although of you have been using the app more frequently you are sure to have stumbled on this feature but u still think this information would be useful to beginners, changing address make it harder for someone to notice your transaction if you make transactions very often which would In turn keep you wallet save and secured from potential hackers.

 

[EMMANUEL]

absolutely pointed put and well explained.
Cryptocurrencies are a high priority target for cyber criminals. Whether targeting your wallet directly or hacking the exchanges once cyber criminals have access to your currency you need to act fast!

 

[BrolySSJ]

I don't personally buy the idea of regularly changing my wallet address. I'm a bitcoin merchant, I buy and sell and I have many people that send Cryptocurrency to my wallet. Now, changing my wallet regularly can't work for me because it's at a great risk. What if coin is sent to my old wallet and it doesn't drop in my new wallet?

This is an excellent point. I think they're changing a wall that becomes especially important if you are making transactions from your wallet and if you're only using it on the complete basis. For example, you withdraw funds into your wallet, and then you can transact with it. Or if you're withdrawing funds to just stay within the wallet. This way you are the only one that has your wallet address, and you will constantly be updating it when you make your withdrawals. However having it as a business you cannot do a constant change of your Bitcoin address because it can be quite confusing to your customers. So in that sense I do see where you're coming from.

 

[Chumzy]

Crypto trading is very delicate and a minor mistake could cost you coins forever. All details must be carefully checked and any mix up like using a different wallet for different coin will cost you money. It is also advices to create a new public address every single time you want to recieve coins from your wallet.