Send transaction to my own address

[Kavelj22]

What if i send a transaction from my wallet to a new generating address from the same wallet. What should happen? will it be confirmed like any other transaction?
I know this may be look as a stupid question but i thought about this a lot and didn't find similar asks in different boards of the forum. Thanks for your help in advance.

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[crairezx20]

What if i send a transaction from my wallet to a new generating address from the same wallet. What should happen? will it be confirmed like any other transaction?
I know this may be look as a stupid question but i thought about this a lot and didn't find similar asks in different boards of the forum. Thanks for your help in advance.

Yes, it should be confirmed, sending bitcoin to the same wallet with different bitcoin address is fine. I am doing this before just to merge all my output transaction to a single wallet.

[Rath_]

I know this may be look as a stupid question but i thought about this a lot and didn't find similar asks in different boards of the forum.

Actually, that's a good question. Every single transaction you receive to your wallet is a separate input. The more inputs your transaction has, the higher fee you will pay. It's a good idea to combine a few inputs into a big one when the fees are low (1-3 sat/b) since you will save a lot of money in case you decide to cash out when the fees become extremely high again. Loyce has explained it here quite well.

[nakamura12]

Actually, that's a good question. Every single transaction you receive to your wallet is a separate input. The more inputs your transaction has, the higher fee you will pay. It's a good idea to combine a few inputs into a big one when the fees are low (1-3 sat/b) since you will save a lot of money in case you decide to cash out when the fees become extremely high again. Loyce has explained it here quite well.

You mean to send btc from each different wallet to the new wallet then withdraw it all? I think that's a good idea in my own opinion. Correct me if i'm wrong, if I decide to cash out my btc it would cost me lots of money for each transaction fee when it's in different wallet and not in one wallet. I just check the thread made by loyce it seems if cashing btc you'll need enough btc for deduction of btc when withdrawing with high fees.

[boyptc]

Like they said it's just a normal transaction that you are sending to another address whether you own it or not and it shall be confirmed.

[Buttermellow]

In MyEtherwallet has another thing that will going to happen if you have pending transactions. If you would like to cancel previous transaction and replace the right one then it was advised to send another transaction to your wallet address and eventually it will going to cancel the pending transaction. This will be possible if the transaction is not yet confirmed or mined. This will relatively help cancel previous pending transaction but I still did not able to trt it because I am more careful in sending tokens or eth to other wallet.

[roosbit]

A transaction happened and the blockchain which is the crypto ledger needs to keep a record of this as proof, so confirmations and everything will be there like any other transaction.

[Ardavan2150]

I believe if the addresses are different, the wallets are different. It might be counted under the same "wallet" but the addresses are what defines the wallet address. This was a confusing answer

[Velkro]

What if i send a transaction from my wallet to a new generating address from the same wallet. What should happen?

For Bitcoin network it doesnt matter if address is in same wallet or not. Wallet is only abstract thing, it doesnt exist in reality, addresses exist only.

[Rath_]

You mean to send btc from each different wallet to the new wallet then withdraw it all? I think that's a good idea in my own opinion. Correct me if i'm wrong, if I decide to cash out my btc it would cost me lots of money for each transaction fee when it's in different wallet and not in one wallet.

That was not the point. Every time you receive some BTC to the same address, the coins are considered as separate inputs. For example, if you receive 0.1 BTC four times you will pay more for your cash-out transaction than as if you received 0.4 BTC. Right now, transactions with 1 sat/b confirm quite fast. A year ago, I had to pay almost 70 sat/b so I prefer to consolidate my inputs from time to time.

[Japorms]

Like they said it's just a normal transaction that you are sending to another address whether you own it or not and it shall be confirmed.

That is true, as long as you have a receiving address it would always sent .

[odolvlobo]

The bitcoin protocol doesn't know anything about wallets. It only knows about private keys, public keys, and hashes of public keys. You can send bitcoins to any address, whether or not it is in the same wallet, whether or not it is the same address, or it whether or not is owned by you, somebody else, or even nobody.

[jseverson]

You mean to send btc from each different wallet to the new wallet then withdraw it all? I think that's a good idea in my own opinion. Correct me if i'm wrong, if I decide to cash out my btc it would cost me lots of money for each transaction fee when it's in different wallet and not in one wallet. I just check the thread made by loyce it seems if cashing btc you'll need enough btc for deduction of btc when withdrawing with high fees.

Every transaction you receive is counted as one input, and every input you spend increases the weight (or size) of the transaction along with the transaction fee. If you're getting paid multiple small inputs for signature campaigns, etc., it's a good idea to send/consolidate all of them into one or two addresses while fees are low.

But yeah, spending from different wallets would be more costly. It's more expensive in fees to spend one input each from two wallets (basically two separate transactions) than two inputs from a single wallet (one transaction).

[Purobantakte]

Yes that is possible