Bitcoin Forum

One disadvantage of having a single addressis that it is easy to check a person's Bitcoin holding. How many of you use multiple addresses to avoid this?

am trying to interact with multiple addresses but it's not that easy when holding a lot of cryptocurrencies especially when talking about ethereum which can hold all the funds. It's just not to be tracked by anybody so i use so much addresses. This method does not work with people that can't manage their data into their computers (better not to store private keys in mobile phones).

Everyone. It's a highly used and recommended practice. There can be all sorts of reasons to use multiple wallet address, but keep in mind that people can follow the trail of money from one address to another.

In some transaction types you can reveal your private key when initiating a transaction, this is one reason for using multiple addresses. In other cases it relates to how each person organizes there funds.

The most simple reason for having more than one address is because people will have one for savings, in a hardware or offline wallet, and one on an exchange for spending.

I am using Two bitcoin address Currently both are from different websites , but i will suggest you to use single address only its very difficult to transfer from one wallet to another wallet because bitcoin network fees per tranx is about 20$ which you have to pay from your own pocket.

To hide your bitcoin balance holding you can transfer that funds in hard storage for long time so can hide your earning also or you can transfer funds into another wallet via bitcoin mixing service to save your privacy of other address if you have large amount of btc.

For business Tranx , I use Single address but i never store funds in this address due to privacy risks

I always use a new address for EVERY transaction.

Additionally, I generally refuse to do business with any merchant or charity that re-uses addresses.

Trust me a whole lot of people use multiple wallets just to take advantage of BTC. Well, the operation is remote so you can't control it.

In my experience most members around here use a different address for almost every payment they receive. Obviously there are going to be outliers, but I've always heard that it is good practice to not repeat addresses if possible. Everyone for the most part keeps track of their old addresses, stake them on here for long-term proof of account ownership salience and makes sure they don't fall in the wrong hands.

Using only 1 address long-term erases too much security, and as you said it makes it possible to pinpoint the amount of coin one has, turning eyes and inviting attacks/hacks if you have a significant amount. This would allow a very targeted attack of your bitcoins, your address and it could demolish your financial holdings altogether.

If you're relying on bitcoin, definitely look into the best security practices; IMO 1-address just simply won't cut it.



^ Perfect example, most legendary, old-heads, OGs ;) they have similar mindsets to this and even have further criteria before dealing with a merchant/trader such as PGP verification and the-like.

I use about 6 wallets, only one of which is a proper hot wallet. this, and I use different address almost for every transaction.
These are fairly basic security and safety practices.