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Author Topic: Pros and cons of using new Bitcoin addresses for each transaction?  (Read 34529 times)
clickerz
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October 16, 2016, 03:01:29 AM
 #101


Actually, it's a lot better to organize. You can just label the address you used for that transaction and set it aside. You can always go back to it if you need it for bookkeeping. Unlike using the same address for multiple transactions, in which bookkeeping is a lot harder.
'

I agree, its a safekeeping or recording issues here. For me Its good to be organized in recording where the funds comes from the disadvantages id that i hate memorizing or scanning for too many wallet address.

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October 16, 2016, 03:37:18 AM
 #102

On xapo when I was picking the address it stated that after a transaction with this address they will change the address which for our bitcoins security so after that it is in my mind that it will be more secure to use different bitcoin addresses.

I still don't know why this is more secure, don't know if I'm dumb or what...
At the end they can know "everything"... No?

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October 16, 2016, 06:43:35 AM
 #103

Can someone please give me a list of the pros and cons of using new Bitcoin addresses for each transaction? It seems very inconvenient to use a new address each time.

2-3 addresses for me is enough already rather than having lots of new addresses because if you do such thing , theres a possibility that you would able to lose one  of your wallets  which is risky but   you could always  list  it regarding  on your wallets information  so that theres no confusion when you need  to log them in.

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October 16, 2016, 06:56:09 AM
 #104

The addresses are valid forever unless you lose your wallet.  The only disadvantage is that the address receiving a transaction is visible to all nodes.  It is easy to automatically generate a new address each time a page is refreshed on a donation page using the JSON RPC interface.


Thats right, there are actually some online wallets which changes the address after every transaction such as Xapo, in Xapo, the address of your wallet changes everytime a transaction is done though the previously used address still can be used for receiving bitcoins which means even if someone sends the funds on the address that is not now being shown as your address you will still receive the money in your wallet.

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October 16, 2016, 08:05:37 AM
 #105

Changing address after each transaction is very good from security point of view but it could be a bit confusing for monitoring and tracking transactions. More and more online wallets have this feature to change your transaction address although wallet address stays the same.

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October 21, 2016, 08:09:37 AM
 #106

Can someone please give me a list of the pros and cons of using new Bitcoin addresses for each transaction? It seems very inconvenient to use a new address each time.
Pros:-
Don't Reveals Your Identity...
And Give Protection to Your Wallet and Protect Your Bitcoin. from Being Stolen....
Cons:-
So Difficult to Maintain So Many Addressees....
Not Hassle Free....

kryptqnick
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October 21, 2016, 09:43:34 AM
 #107

About the main disadvantage of it OP already said. It really is very inconvenient to use new adress each time. And as for an advantage - it seems to be a safer way if you don't want your money to be stolen or if you are using it for something illegal. I don't use different adresses, because I don't deal with big sums. I would if I did, I guess.

Betwrong
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October 21, 2016, 09:57:40 AM
 #108

If you are not doing anything which is illegal and you don't have to hide from authorities I think it's absolutely unnecessary to use a new wallet for each transaction. I find it much more convenient to use the same wallet for many transactions because:
1. I have nothing to hide;
2. I don't have lots of money there anyway;
3. It's much easier to look through the history of your transactions which can be helpful sometimes.

choppork
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October 23, 2016, 04:48:53 PM
 #109

The pros are: They can't trace you easily; Each address can be dedicated to a different type of payment; You can separate payments depending on how you want
The cons are: The fee would kind of blow up when you receive a lot of payments everyday, more payment means more transaction fee for you to spend when you move the funds to your main wallet; Doesn't have that much point, honestly, unless you're a scammer.
wuvdoll
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October 24, 2016, 08:07:04 PM
 #110

Can someone please give me a list of the pros and cons of using new Bitcoin addresses for each transaction? It seems very inconvenient to use a new address each time.

2-3 addresses for me is enough already rather than having lots of new addresses because if you do such thing , theres a possibility that you would able to lose one  of your wallets  which is risky but   you could always  list  it regarding  on your wallets information  so that theres no confusion when you need  to log them in.
For me, I just need ony 2 addresses, one for usual business with everyone and the other kept privately for myself mostly for security reasons and privacy sake. But do not see any reason why people will be using too many wallet addresses, basically bitcoins offer pseudo anonymous, so no one will be able to track you even you use only one address.

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