Awesome, thanks for that. I had been contemplating just generating a bunch of xpubs manually since I only need one per account... seems like that's not a totally crazy idea.

Would it be risky to have account be un-hardened considering that this wallet will never be used for payments? (except for consolidating and moving to other cold storage wallets)

Do you know how various exchanges/etc. deal with this issue?

Hey folks!

I'm working on the backend for a service that will require users to be able to deposit BTC. We're using cold storage for most of the coin, so these are just for deposits that should realistically then be moved elsewhere.

My current plan is to go with an HD wallet so we can easily generate new per-transaction addresses server-side.

Because you won't be able to spend from these addresses, the tree will look something like M/44'/0'/account'/change/index/

I guess my question is... for the sake of security, should I just be pre-generating a bunch of account' xpubkeys offline and storing them in a table to assign to users as they join? Or is there a way to safely generate the account/change/index/ part of the tree server-side.

I want to obviously assign each user with a unique branch to avoid jumping the gap when generating addresses that won't necessarily receive deposits right away.