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Author Topic: Is there a way (CEX.IO)  (Read 107 times)
BitcoinSupremo (OP)
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July 28, 2018, 06:39:15 PM
 #1

I wonder if is there a way that you can change the deposit address provided by them. They always use the same address for deposit and this greatly reduces chances for security and privacy. I searched on google and could not find anything. Maybe someone here knows a bit more ?
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July 28, 2018, 07:16:21 PM
 #2

What do you mean by 'reduces chances for security and privacy'?

If you're trying to protect yourself from the exchange itself then that's not possible because they'll know even If they gave you a new address for each transaction and If you are speaking about other people then in my opinion, I see no reason on why you should ask for someone to send you money to the exchange directly in the first place since fees are almost non-existent with SegWit.

A business is unlikely to change something for users, as long as they are making money, they don't care. Be your own bank and take control over your private keys is my advice to you.

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BitcoinSupremo (OP)
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July 28, 2018, 09:36:48 PM
 #3

What do you mean by 'reduces chances for security and privacy'?

If you're trying to protect yourself from the exchange itself then that's not possible because they'll know even If they gave you a new address for each transaction and If you are speaking about other people then in my opinion, I see no reason on why you should ask for someone to send you money to the exchange directly in the first place since fees are almost non-existent with SegWit.

A business is unlikely to change something for users, as long as they are making money, they don't care. Be your own bank and take control over your private keys is my advice to you.

I already started to do that. I have build so called "brigdes to pass" wallets which are not connected to each other so no one from the sniffers can know how much bitcoin I have in total, where do funds come from and where do they go. Isn't Bitcoin all about privacy and safety in the first place or do I got it wrong since the beginning a few years ago ? I do this because lately in Italy there has been quite some arrests for frauds in Bitcoin and that is one of the reason SKRILL restricted my account in the first place, (am still waiting from their side to lift my restrictions). I don't want to be on such radars cause I have no reason to be there, simple miner which keep my mining activity in a nearby country to pay less than half price for electricity.
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July 29, 2018, 02:47:22 AM
 #4

In my experience, I haven't really noticed exchange deposit addresses changing, and I don't really ever see an option to change the deposit address on most exchanges. I recall there used to be some in the past, but I don't remember the names of those exchanges and most major ones don't offer the option. Most people don't need anything like this, so most exchanges likely won't add this anytime soon. Traditional coin mixing, etc is still your best bet in this situation.
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July 29, 2018, 03:24:59 PM
 #5

I already started to do that. I have build so called "brigdes to pass" wallets which are not connected to each other so no one from the sniffers can know how much bitcoin I have in total, where do funds come from and where do they go. Isn't Bitcoin all about privacy and safety in the first place or do I got it wrong since the beginning a few years ago ? I do this because lately in Italy there has been quite some arrests for frauds in Bitcoin and that is one of the reason SKRILL restricted my account in the first place, (am still waiting from their side to lift my restrictions). I don't want to be on such radars cause I have no reason to be there, simple miner which keep my mining activity in a nearby country to pay less than half price for electricity.

If you don't want them to track you, consider using a mixing service (Check my sig), it does its job well in that field. They might not be connected with each other but transactions on each address is viewable to everyone and it could still be usable in tracking, especially if there's an address connected to an exchange.

Going back to your question, I too haven't heard of any exchange which allows you to do that, but I remember asking my local exchange the same thing and they said no.
What I think is, your unique address is somehow your name that indicates "it has something to do with you". Exchanges have this AML/KYC policies so having a unique address would be easier for tracking and making sure the user is adhering those, i guess.

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July 29, 2018, 10:06:07 PM
 #6

Unless the option is already in there waiting for you like Kraken or Bitfinex then it's doubtful. Worth asking support all the same but don't get your hopes up.

I asked a couple of other exchanges about this, I think it was Bittrex and Poloniex. They both told me to get a new address I'd have to open a new account with them. In this day and age that doesn't really cut it. People shouldn't be forced into making their moves so obvious.

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July 31, 2018, 09:50:59 AM
 #7

The ultimate goal of what they are doing is removing the anonymity behind bitcoin and nothing else. In the sense that, the address is just unique to you which is connected to your KYC details that you submitted to them so that in the case of them submitting your account to the relevant government authority, or the address traced to the exchange site, it becomes easy for them to identify you i.e the individual behind those arbitrary numbers. The point is they are gradually making moves to ensure that those who think they can hide under the anonymity of bitcoin and using exchange sites should better wake up from their slumber because that is gradually becoming a myth.

There is no way you can force them to alter their way of doing things for you because its what you must have agreed when you registered on their site complying to their terms and conditions. The way out is to seek ways to protect yourself the more and several options have been made available for you and the most potent one is the use of mixing services.
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