Need to generate a new Bitcoin Address all the time

Augusta

VIP Contributor
You know with bitcoin, one needs to use its wallet address to receive money. This is just the way it is, it isn’t like our bank account that we use our bank details and because this is mostly done online, one needs to be very careful. Experts are of the views that it is better to always generate a new wallet address to receive Bitcoin. Because using the same address it might really be risky, this is because with same wallet address one’s activity can be tracked, and this can open a big room for hackers to have access to one’s wallet. What do you think are other reasons to always change address for each btc transaction?
 

Chibson

VIP Contributor
For now, the answer is definitely no. I've been in to the online sphere since 2018 but I haven't been very serious with it and of course I've been trying to make ends meet from doing online stuffs.last year I made over $100 for my line of course that would be enough to take care of anything. This year I plan on going fully into online and making ends meet through online works.
 

Doradorwa

Opportunity seeker
I have bitcoin wallet with many apps so this makes me have many wallet address... Tho I have never thought of any security challenge of any kind but soon if the government can give in to crytocurrencies then I see them regulating it and at the same time putting security in to consideration for people that trade in crypto...
 

Yugocean

Valued Contributor
Due to misuse by hackers (hacking one exchange and selling to others) All exchanges and wallets are now limited. Total anonymity is also over, this was to discourage hacking. But you can use any previous wallet that you still have. Once people were allowed to create as they wanted, not it is a thing of past.
 
From my own view it depends on the type of cryptocurrency wallet you have because due to this same hackers and trackers most cryptocurrency wallets have introduce tight security methods but still the same we have to be very careful with our details and information online because its very risky.
 

Teatea

Active member
This is the first time I would be learning about this, I never even though about it in this way before, I've always been scared of generating different bitcoin wallet address for different transactions mainly because of the fear of losing my account. I always see it as a way of forgetting details which may lead to loss of wallet, I don't even know how it would turn out so I don't. I only use an address but your analysis may work too.
 

Augusta

VIP Contributor
From my own view it depends on the type of cryptocurrency wallet you have because due to this same hackers and trackers most cryptocurrency wallets have introduce tight security methods but still the same we have to be very careful with our details and information online because its very risky.
Yeah the essence of all this is to be careful with our account and apply safety. No one want to lose his or her coins so the best bet is doing whatever it takes to protect ones wallet. So changing of address can help keep one wallet safe from hackers and scammers
 
How do one change his or her address? I thought an address for every cryptocurrency coin has been generated already, all you got for bitcoin is one deposit address and same applies to every other coin like usdt, xmr, link and so on or do you mean using TRC explain better for persons who don't get the picture.
 

Yugocean

Valued Contributor
How do one change his or her address? I thought an address for every cryptocurrency coin has been generated already, all you got for bitcoin is one deposit address and same applies to every other coin like usdt, xmr, link and so on or do you mean using TRC explain better for persons who don't get the picture.
Generating new address requires new wallet, all new wallets are only allowing one address now. You may transfer between your wallets, but one will pay transaction fees for sending from one to another. Only currency with no fees for transaction is helpful. However currencies with high transaction fees like Ethereum should be avoided for such activity.
 
OK does it mean you need to download a different cryptocurrency wallet entirely or you can use the same cryptocurrency wallet you love using? Sorry for the way am asking because I don't know and am sure there are people like me who would want to learn about securing their personal wallet to avoid hacking
 
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