Hello everybody!
As the title says, I have a question about paper wallets.
So I`m thinking about creating a paper wallet and store my BTC and I know that the private key used to withdraw the funds should only be used ONCE, I didn`t find any answer about depositing funds whenever i like, multiple times. Is it safe to deposit money into the same paper wallet multiple times? Does something else occur other than simply increasing the final balance?
I`m sorry if this question has been asked and answered before but I cannot find that topic anywere.
If you accept multiple payments at the same paper wallet address, then you will give up some privacy. Anyone that sends bitcoins to you will know about all the other transactions you receive at that address in the past and future. Anyone that receives a payment from your paper wallet will know how many bitcoins you had at that wallet, and may be able to determine where some of them came from.
Additionally, in the future if you only spend some of the bitcoins from the paper wallet you should make sure that you send ALL the remaining bitcoins to a new address and not keep them at that same paper wallet. Once you spend ANYTHING from a paper wallet, you should consider it to be less secure and should create a new one.
Hello and thanks for the reply!
Is giving up some privacy the only risk i`m taking in sendimg multiple times to the same address? I forgot to mention that only I will be sending funds to it, nobody else. Is it 100% safe to send multiple times in this case?