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Phalo
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October 05, 2017, 06:23:11 AM
 #1

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

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October 05, 2017, 06:27:42 AM
 #2

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

I didn't use coinomi much, but most wallets do this in a way or another.
Although the receive address you see changes, your wallet contains all those addresses.
Just think a little: if you received the money to address X and now address Y is visible, if you want to spend the money, where is spent from? Of course the old addresses are all yours.

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October 05, 2017, 06:31:08 AM
 #3

Thanks alot for replying . I wanted to be 100% sure.

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October 05, 2017, 06:35:17 AM
 #4

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?
Usually a bitcoin address gets changed everytime you recieve a transaction on it but the old ones are still valid and can be used numerous times for retrievals as far as you have access to your wallet.
Do not worry about changes, it is upto you whether you give out previous address or newest one, both belongs to your wallet.


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October 05, 2017, 06:35:33 AM
 #5

Thanks alot for replying . I wanted to be 100% sure.

Yes, as stated above once you create a new address from the same wallet, it still belongs to it, same goes to every wallet that is able to create multiple addresses.
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October 05, 2017, 06:44:38 AM
 #6

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?
I have not been able to understand how to coinomi doing transactions, but my thinking wallet like this is safer than hakcer. and in my opinion when doing fund transactions using coinomi wallet will enter first new address will change the wallet

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October 05, 2017, 06:48:12 AM
 #7

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

That's normal, that's what you call a HD wallets, everytime a recent address receive a bitcoin once you want to receive funds and click the receive button it will generate a new wallet address, but you can use the previous address to receive funds again and again.
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October 05, 2017, 07:44:07 AM
 #8

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?
When you make a transaction and address you will be changed, of course your old addresses can still be used to receive and participate in normal transactions.
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October 05, 2017, 08:47:40 PM
 #9

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

Yes, you will still be able to receive funds. The address is still there in your wallet, but the wallet algorithm is programmed to change automatically receiving address on its own, every time you ask for payments. I used Multibit HD and it worked the same way, so don't worry about that.
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October 09, 2017, 08:52:22 AM
 #10

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

This is what you call, multi sig wallet and not only coinomi does have this feature. Xapo does have this and I'm using xapo before when it was free.

And you don't have to worry about it, if you had given your old wallet address on the same wallet but it's not written on your wallet anymore because it generated another bitcoin address.

The bitcoin's that will be sent to the old wallet is still credited to that wallet and you will receive it without any problem.

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October 16, 2017, 04:26:56 AM
 #11

Its normal thing .wallets has programmed to change there  addresses.but old address is still yours..so there is not a problem

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October 16, 2017, 05:15:30 AM
 #12

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

This is what you call, multi sig wallet and not only coinomi does have this feature. Xapo does have this and I'm using xapo before when it was free.

And you don't have to worry about it, if you had given your old wallet address on the same wallet but it's not written on your wallet anymore because it generated another bitcoin address.

The bitcoin's that will be sent to the old wallet is still credited to that wallet and you will receive it without any problem.

I think this is a better feature specially for big transactions about security. Further more as a user we must understand 1st updates or experiment on the wallet before making big transaction to avoid simple problems that could lead to complications.

Question for sapo, what is the feature on the latest update? im on a pc right now and this does not support android apps. I could see later but i just want to ask if you could give an answer. Thank you.
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October 16, 2017, 05:27:51 AM
 #13

This is what you call, multi sig wallet....
This has NOTHING to do with MultiSig. Roll Eyes

This feature (of creating a new address for each transaction) is not even unique to HD (Hierarchically Deterministic) wallets, as some older non-HD wallets also did the same thing... It is simply a means to try and prevent address re-use and increase privacy and, to a lesser extent, security. Every time an address is "used", ie. it has received some coin, the wallet will automagically generate a new receive address.

MultiSig relates to the number of signatures required to sign a transaction for it to be valid... hence "Multiple Signature" aka "MultiSig".

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October 19, 2017, 02:18:32 PM
 #14

it is Help your Security and make other not  track how many Btc you have 

## Don’t worry new BTC  like old one and you can use it
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October 26, 2017, 07:21:06 AM
 #15

I use coinomi wallet. My  address changes everytime i make a transaction. I am wondering, if I had given someone the wallet address to send funds to before it changes, will i recieve the funds ?

one wallet is not good for different address because few times it may hacked so try to choose different wallets for different address. but few wallets had more security so lets try like that wallets. but maximum you have to try different wallets it can keep your coins secure.
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October 26, 2017, 10:07:48 AM
 #16

Thank you for the responses ladies and gentlemen. I just want to inform other inexperienced users, that I can confirm that it all worked well. I have recieved the funds sent via the old wallet address.

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February 09, 2018, 02:44:08 PM
 #17

I want to take this question a bit further...

If Coinomi creates a new Public address for each "receive", does that also imply another private key for each public address?
I thought keys are asymmetric pairs - i.e. public and private key are strongly tied to each other.

If this is the case, then my concern is about losing or destroying this Android device with my wallet on it.  Yes, I've got the recovery phrase backed up.
But on the new phone, when I restore the wallet - essentially what I'm doing is recreating key pairs deterministicly.
But let's say I received Litecoin at ten different addresses in my Coinomi wallet.

How does the key generator know that there were 10 addresses?  Because I sure wouldn't remember that.
Wouldn't I need to regenerate the same pub/private keypair (10x) again in the restored wallet in order to recover LTC sent to the 10 addresses?

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February 09, 2018, 04:08:46 PM
 #18

If Coinomi creates a new Public address for each "receive", does that also imply another private key for each public address?

Yes.

Quote
Yes, I've got the recovery phrase backed up.

Good!

Quote
But let's say I received Litecoin at ten different addresses in my Coinomi wallet.

How does the key generator know that there were 10 addresses?

It will generate the 1st address, and then check if it has been used on the blockchain. It doesn't matter if it contains nothing right now, what's important is whether there was activity at some time or not. Then it moves on to the 2nd address and checks that one. This process continues until it has checked 20 addresses in a row without activity. The count of 20 is called the "gap limit". In some wallets, it is configurable.

Why would there be a gap? Lets say you gave out unique payment addresses to 10 coworkers to pay their share of the lunch tab. Then you gave out addresses to your online customers - and they paid. Now lets say all 10 coworkers stiffed you. You'd have a gap of ten unused addresses.
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February 09, 2018, 05:06:01 PM
 #19

If Coinomi creates a new Public address for each "receive", does that also imply another private key for each public address?
I thought keys are asymmetric pairs - i.e. public and private key are strongly tied to each other.

You are right. Private and public keys are 'tied to each other'.
Basically what your wallet does is to do a mathematical process on your seed (combined with a counter) to generate a new private key.
The public key will then be derived from the private key.


If this is the case, then my concern is about losing or destroying this Android device with my wallet on it.  Yes, I've got the recovery phrase backed up.
But on the new phone, when I restore the wallet - essentially what I'm doing is recreating key pairs deterministicly.
But let's say I received Litecoin at ten different addresses in my Coinomi wallet.

How does the key generator know that there were 10 addresses?  Because I sure wouldn't remember that.
Wouldn't I need to regenerate the same pub/private keypair (10x) again in the restored wallet in order to recover LTC sent to the 10 addresses?

Basically what your wallet does here is the following:
  • Derive private-/public keypair from seed (with counter=0)
  • If you recieved a payment to this 'address': Create another one with increased counter
  • If a newly generated 'address' doesn't contain any balance: Stop with creating further addresses

Some wallets let you generate several recieving addresses in advance. In this case the wallet is seraching for the next X unused addresses (thats called the gap limit).

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February 09, 2018, 06:11:35 PM
 #20

Great explanations, thanks to both of you!  That puts me at ease.
I will test the whole process end-to-end anyway with a 2nd Android phone.

Because I'm anal that way.  Trust, but verify!    Wink
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