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Author Topic: [LIST] Exchanges which let you create multiple deposit addresses  (Read 222 times)
webtricks
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November 23, 2020, 06:02:46 PM
Last edit: December 11, 2020, 03:40:49 PM by webtricks
Merited by suchmoon (4), hugeblack (4), ETFbitcoin (2), gentlemand (1), eaLiTy (1), Coolcryptovator (1)
 #1

The exchange which I was preferably using to trade my bitcoin currently shifted from 'unlimited deposit addresses' to 'one address per user' model. When I contacted them for the reason, they told me the same is done for the security purpose.  Roll Eyes Anyhow, it defeated the purpose of using different bitcoin receiving addresses when I am going to send most of it to the single exchange address. (privacy-killer)

So, I researched different popular exchanges and collected the information about the exchanges which allow users to create multiple addresses.

Sr.No. Exchange - Allows the creation of more than 1 address?
1. |Binance  No - One address per user
2. KrakenYes - Can generate new addresses
3. HuobiNo - One address per user
4. BitFinexYes - Can generate new addresses
5. KuCoinNo - One address per user
6. OkexNo - One address per user
7. FTXNo - One address per user
8. BittrexNo - One address per user
9. BitMexNo - One address per user
10. BitBoxNo - One address per user
11. LiquidNo - One address per user
12. LocalBitcoinsYes - Can generate new addresses
13. PaxfulYes - Can generate new addresses
14. RemitanoYes - Can generate new addresses
15. HitBTCYes - Can generate new addresses
16. CoinexYes - One address per deposit

If you know about more exchanges, suggest in the thread. I will add those to the list.

Note: I only inquired about bitcoin deposit address.

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November 23, 2020, 07:15:52 PM
 #2

I doubt having multiple deposit addresses will make any difference when it comes to privacy as the addresses will be tracked against your account anyway. Having a single address associated with an account makes their job of automation easier. Rather, I'd have them create a new address for every deposit which will not be used again for the same profile. But that is never going to happen  Undecided

I'd say peer to peer exchanges like localbitcoins does give you a new deposit address on every transaction.

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November 23, 2020, 07:43:16 PM
 #3

I would expect some p2p exchanges in the list since most of them try to offer some level of privacy.
With Localcryptos.com one is able to generate new addresses for new transactions.

If my memory serves me right and If no changes have been made yet, I think this is also possible with coinbase.com (the simplified exchange, not the wallet app). I am not sure about Coinbase pro. Maybe someone who uses it can enlighten us.





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November 23, 2020, 09:59:49 PM
 #4

If you know about more exchanges, suggest in the thread. I will add those to the list.

Note: I only inquired about bitcoin deposit address.

Interesting topic and I am want to know more exchanges that can generate more addresses for one user.

- I know that Bisq.network decentralized exchange can be used generating as many addresses as you want.
- Second one I know is small centralized exchange qtrade.io that I know it is supporting creating new addresses for Bitcoin and other coins.

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November 23, 2020, 11:18:12 PM
 #5

If you know about more exchanges, suggest in the thread. I will add those to the list.
I tried as much as possible to search the question on google but I can't find exchange that support multiple bitcoin address after use.
Mentioning p2p exchange is not what you asked for,  but I'm pretty sure p2p exchange exhibit such feature, remitano.com has button to generate new address after use.

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November 24, 2020, 06:07:39 AM
 #6

As far as I can remember, Kucoin also allows its users to create several sub accounts with the same email (accounts in the account) that can generate new deposit addresses for each listed coin. Is kucoin also in this category?
If so, I'll find out later if Binance is also available with this feature.

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November 24, 2020, 07:47:58 AM
 #7

Is kucoin also in this category?
OP already listed Kucoin and said it does not support it. You could try to post screenshots or links of those features if you believe they still exist.

IIRC Luno also supports this, but only for a limited amount, can't recall how many but at least 3 address for Bitcoin. Don't know if they've changed it though.
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November 24, 2020, 03:36:55 PM
 #8

Okay guys, when I created the thread I only had crypto-2-crypto trade in mind. That's why I didn't include P2P Exchanges in the list. But since the thread is interpreted differently, I have now included P2P Exchanges as well.

New update: Liquid, LocalBitcoins, Paxful and Remitano added to the list. Currently trying Bisq Network and will add that to the list after confirmation.



I doubt having multiple deposit addresses will make any difference when it comes to privacy as the addresses will be tracked against your account anyway.

I got your point but at least using different addresses won't leave trails on blockchain. Apart from exchange personnel, no one would be able to associate the addresses to a single person/account if you take enough care while sending transactions.



As far as I can remember, Kucoin also allows its users to create several sub accounts with the same email (accounts in the account) that can generate new deposit addresses for each listed coin. Is kucoin also in this category?
If so, I'll find out later if Binance is also available with this feature.

Among the exchanges listed in the opening post, KuCoin, Binance and FTX provide the feature of creating sub-accounts. While the creation of sub-accounts are present at default on KuCoin and FTX, on Binance user has to be either at VIP Level 1/corporate account/manually contact support to open sub-accounts. However, making sub-accounts doesn't mean separate deposit addresses. You still need to deposit funds on the deposit address of 'main account'. Only then you will be able to fund sub-accounts using main account balance with 'transfer to sub-account' option.

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November 27, 2020, 01:30:19 PM
 #9

You can add HitBTC exchange as one which allows creating new deposit address. It is possible to get the new addy after you use the current minimum one time.
It is possible for all other altcoin or ERC20 tokens.
KYC there is not mandatory for deposit/withdraw, only 2FA to be activated. I guess it sounds fine for privacy.
I am not shilling for this exchange here, mostly because of his high withdrawal fee. But when you're already making a list.





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November 27, 2020, 08:56:36 PM
 #10

Is kucoin also in this category?
OP already listed Kucoin and said it does not support it. You could try to post screenshots or links of those features if you believe they still exist.
It's not possible to change the deposit address in Kucoin. It's one unique address per user. The only possibility comes with bitcoin where you can choose another address with different format. Means each user has two deposit addressesone is native and another one segwit. It's also explained in the support page :

https://support.kucoin.plus/hc/en-us/articles/900003215066-BTC-based-on-Different-Chain-or-Format
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November 27, 2020, 10:37:34 PM
 #11

I doubt having multiple deposit addresses will make any difference when it comes to privacy as the addresses will be tracked against your account anyway.

It's just as much about others tracking you as the exchange. And on top of that sometimes you just don't want to bloody know how much you yourself have put through an address. Wirex only give you one address so the amount I've spunked on utter tat over the years stares me in the face every time I look at it.
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November 27, 2020, 11:27:42 PM
 #12

I think you should add Coinex.com to the list.
We can generate a new wallet address for a wallet address that has been used before.
you can't create a new wallet address if the previous address has not been used yet.




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November 28, 2020, 07:23:24 AM
 #13

You can add HitBTC exchange as one which allows creating new deposit address. It is possible to get the new addy after you use the current minimum one time. It is possible for all other altcoin or ERC20 tokens.

I have used HitBTC many times in the past (still have like 10-12 shitcoins on that exchange I guess). But all I have are negative reviews for that exchange. I suffered loss of 1.2 BTC in Jan, 2018 because HitBTC restricted the withdrawal of TRON (TRX) just after it pumped 5-6x for no particular reason. Worse thing was that we couldn't even trade TRON on HitBTC too, they closed TRON trading on their platform as well. I got my withdrawal after 6 days and by then TRON's value dumped again.

HitBTC is nothing but a destination for shitcoins listing (they have no restrictions, all you need to do is to pay listing fees and they will list any coin) and bot accounts which artificially pump coin price. But I guess we are not reviewing exchanges in this thread and the feature of multiple deposit address is all we are concerned here so I have listed HitBTC in the opening post (however, I personally suggest not to deposit something on this exchange which you can't afford to lose).



I think you should add Coinex.com to the list.
We can generate a new wallet address for a wallet address that has been used before.
you can't create a new wallet address if the previous address has not been used yet.

Nice one! This was the exact feature I was looking for an exchange to provide. 'One address per deposit' is far more efficient model than any other. Personally verified and added to the list. Wink

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November 28, 2020, 11:08:02 AM
Last edit: November 28, 2020, 01:22:30 PM by dkbit98
 #14


https://nominex.io/

I am not sure how good Nominex exchange is because I never used it myself for trading, but I know they have option to generate new addresses.
I checked their trust ratings on Coingecko and Nomics and they are rated very good with fact that there is no-kyc for for 3 BTC/day withdrawals.
This all sounds good for privacy but do your own research.

EDIT: Nominex have some issues with bounty campaign in bitcointalk forum.

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November 28, 2020, 11:42:19 AM
 #15

Can someone explain to me what is the difference between having one address or several addresses? We are talking about central platforms which will mostly be related to KYC?

Theoretically, and if we ignore all the other factors, the platforms that create more than one address will require more fees because they will spend more fees in the process of exchanging currencies from the hot wallet to the cold storage, and therefore you will pay more money without adding anything to your privacy.





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November 28, 2020, 01:55:45 PM
 #16

Can someone explain to me what is the difference between having one address or several addresses? We are talking about central platforms which will mostly be related to KYC?

As discussed above in the thread, there may be parties interested in tracking your spending habits. By sending your bitcoins to a single receiving address on the exchange, you are creating link between your addresses on the blockchain.

Although, I share my earnings report with Income Tax Department every year but I may not be comfortable in sharing the same with my neighbor. Same applies here, by selling coins on a KYC-exchange, you maybe sharing your income details with authorities but your neighbor won't be able to ascertain your total earnings if exchange provides different deposit address for each address.



Theoretically, and if we ignore all the other factors, the platforms that create more than one address will require more fees because they will spend more fees in the process of exchanging currencies from the hot wallet to the cold storage, and therefore you will pay more money without adding anything to your privacy.

Nope, this is a wrong assumption.

Consider two exchanges - one providing only one deposit address and the other providing new address every time. Suppose, I make 5 deposits on both exchanges.

First Exchange will provide me a single bitcoin address, let say - A. Meanwhile, second Exchange will provide me new deposit addresses, let say - B, C, D, E, F.

When exchanges will move money, here's how transaction will look:

For first Exchange:

Inputs                                         Output
address A - 0.01                    address X - 0.0495
address A - 0.005
address A - 0.02                       
address A - 0.005
address A - 0.01

For second Exchange:

Inputs                                         Output
address B - 0.01                    address X - 0.0495
address C - 0.005
address D - 0.02                       
address E - 0.005
address F - 0.01

Both exchanges will have to pay exact same fees (here in case, 0.0005 BTC). What matters while determining the fees for bitcoin transaction is the number of inputs. It doesn't matter if the inputs belong to same address or different addresses. Since, both exchanges are consuming 5 UTXOs in a transaction, both will have same fees.

The only thing that would get complicated with multiple addresses is the database management. In 'one address per user' model, deposit address for each user could be store as a string variable. But when an exchange allows the creation of multiple addresses, the most suitable data type would be an array, pushing new addresses in the array. However, if user sends transaction to an old deposit address, exchange will have to loop over addresses of each user to locate who sent the transaction, making things complicated. That's why exchanges like Kraken only support 5 deposit addresses for each user. Once you have generated 5 new deposit addresses on Kraken, old addresses will be disabled.

PS: Deposit addresses that user see mostly belong to the cold storage. Exchanges have pre-loaded hot wallets for withdrawal purposes. Whenever, hot wallets get empty, exchange loads them again with deposit received on the cold storage - so it's other way around than what you are saying.

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November 28, 2020, 09:54:46 PM
 #17

Theoretically, and if we ignore all the other factors, the platforms that create more than one address will require more fees because they will spend more fees in the process of exchanging currencies from the hot wallet to the cold storage, and therefore you will pay more money without adding anything to your privacy.
You would have this argument if you were talking about altcoins like Ether but certainly not bitcoin. For bitcoin's case, whether the addresses are the same or different, if the amounts were to be sent together to a cold wallet from the different hot wallet addresses or same hot wallet address, the number of inputs would still remain the same which would mean roughly same transaction size.

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