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

[Nomad]

No one can hack your wallet just beause they have your bitcoin address. However, you can use certain measures to stop being hacked, for example two factor authentication.

 

[Ub40]

I have always believed that there are so much to learn in this platform while earning. I never thought of changing my wallet address often for any reason until I am reading it here now. I will try to practice this henceforth. Thanks for sharing.

 

[Sotherefore]

Nice explanation, this is my first time of hearing about this and I have been using most of my cryptocurrency wallet for More than A Year without generating another new wallet, I think I really need to do that to prevent most of my coin from being loss.

 

[Josemendez]

There are wallets where you can be able to change your bitcoin address a maximum of three times and I think it is indeed something that may be a problem for those who fails to understand this.

 

[Setho]

Inasmuch as the blockchain might determine a new bitcoin wallet for you any money that is being sent to the previous addresses that you generate will still reflect in your account no matter what.

 

[Dowenship]

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 think changing of address will stop hackers from having access into one's fund because they are not even targeting one address but a whole address...

 

[eLdavis]

I never thought of it from that point of view, you have a point though, I do create various wallet address but I usually use them for various separate transactions.

 

[Kelly5]

The process where you go about to generate new cryptocurrency addresses for yourself Everytime can only work for certain wallets like blockchain, luno and a few. One can't generate such when using exchange like binance

 

[Hena101]

This is a very good information because it can help many people but more especially the newbies that are now starting to come into crypto currency.

 

[Yusuf]

I think this actually depends on the type of crypto currency exchange platform one is using. For example, I use Bitcoin to buy and sell coin and I don't think they charge wallet just like that

 

[BrolySSJ]

To me I don't think changing of address will stop hackers from having access into one's fund because they are not even targeting one address but a whole address...

This is a good point, however if you change your address then the amount that is shown on the blockchain for your transactions will be lower and that will in turn lower the chance that they would target you for hacking.

 

[Dowenship]

OK... if I get what you are saying on an exchange like binance can I change my address and if I can what if the whole binance was targeted by an hacker, my funds to will be affected now....

 

[BrolySSJ]

OK... if I get what you are saying on an exchange like binance can I change my address and if I can what if the whole binance was targeted by an hacker, my funds to will be affected now....

I don't think that you can do this when it comes to an exchange because they are in control of the wallet addresses and the private keys and hence you will not have this option.

 

[harrypaul]

The idea of changing your wallet address for me may be risky so I don't really buy into it.
They address generated by the system is well protected and safe so I see no need of creating one.

 

[Elfinito]

Do you think that generating a new address is better than the one generated by the system?
I have never taken such task and I don't think it is safe

 

[Aaron625]

Not all the cryptocurrency wallets have the option to generate new wallet addresses except coinomi or official crypto wallets like litecoin org and so on. As long as you hold the private key of the particular coin address without revealing it to anyone , the funds are safe enough even without using multiple crypto addresses.

 

[Justin]

I have seen this feature on coinbase, you can generate new address but your old addresses will also work. But how do we do this on Binance, can we generate new address for new transactions?

 

[Kingstone]

Yes it more advisable to always change your wallet because leaving it just has it was is very risky because of the hackers and your security is very important more. But where you change your wallet address may weekly or month or even yearly it very good to secure your crypto

If you are actually correct, how will you do Binance that only allows one person to have one address?
On Binance, you cannot change your wallet or generate a new one.

 

[Lens]

This is the first time I would hear this. It's a very good features as it would help chase hackers away. The hackers are so keen to stoll people's money and they are always on top of the game.

 

[Honny143]

Yes I do this every 2 or 3 transaction after I change my wallet address, I know our private key and password is important, but I always keeps in mind this online anything happens that's why i don't want to take any risk, so always i generate a new address to receive my funds,
by the by thanks for this valuable information share with us.