IF I SEND BTC TO A FRIEND/FAMILY, DOES IT MEAN THEY CAN KNOW MY WALLET BALANCE?

[dkbit98]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

If you send Bitcoin directly form your wallet then receiver will be able to know exact amount of coins you have on your address or addresses.
Good address management can reduce this, and you can also use coinjoin or mixers like ChipMixer to remove connection with your original address.
Sending coins form your exchange account is also an option, but much more risky because they can lock your account and freeze your coins at any time and for any reason.

[savetheFORUM]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

That depends. Are you making use of one address for all your transactions? If you have been making use of just one address for all the transaction you have been doing, then they will be able to see all the transactions that you have done so far: which includes all the money that you have received and also the ones you have sent. So, that’s for sure that they would see your transactions, And possibly know the balance that you have on that address.  Now if you have noticed, what I was saying here is address, and not wallet: I am using the word address because your address doesn’t necessarily mean that what is stored there is what is  originally stored in your wallet.

This can be because when you are making use of a wallet that has different addresses, then nobody would know the actual amount that is in your wallet. So, I would suggest you to make use of a wallet that would change your address anytime you’re about to make a transaction. That way you wouldn’t have to be repeating the same address all the time.

[airdata]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

Off course yes, if you send any fund from your wallet to other person wallet then he can see your all transaction and balance of your wallet. For this reason when need to send any assets from my wallet to my friend wallet, then i create a temporary wallet then sent my fund from my wallet to my friend wallet.               

[Ucy]

One of the ways this issue can be solved is probably by sending via a Private Address that doesn't reveal the contents of the wallet to recipient of fund.  The private address could only be known to recipients also. Guess this can be implemented on Bitcoin without a hardfork

[dificanovi]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

yes, the bitcoin recipient can check your transactions and they can also see the balance in your wallet.
If you don't want other people to see your balance then use another wallet as a backup wallet so that the balance in your main wallet is not seen by other people or your family.

[Saint-loup]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

Off course yes, if you send any fund from your wallet to other person wallet then he can see your all transaction and balance of your wallet. For this reason when need to send any assets from my wallet to my friend wallet, then i create a temporary wallet then sent my fund from my wallet to my friend wallet.               

No you're wrong, the receiver won't be able to see the balance of his wallet, he will only be able to see the amount of BTC he had on the sending address at the time of the transaction and the amount he is currently holding on the change address of the transaction if he didn't send them elsewhere since this transaction.

[famososMuertos]

The issue here in you particular context of your case, bitcoin ceases to be anonymous when someone knows that it is you. It is very obvious, but that does not mean that the transactions are anonymous for third parties.

Bitcoin is a great public ledger, where all transactions can be reviewed. So, although it is true that all transactions are there, each address is associated with individuals, companies and exchanges, depending on where you manage your addresses, your family members could eventually know your balance.

Now, in this particular case you are interested in the right to keep your information private, there can be several simple ways but in some cases you have to give information to third parties and you would also lose your anonymity with them but you would give zero information of what your funds are to those who know you or know that that address belongs to you.

[haasanjui]

If you transfer anything with anyone else your wallet address will show to the reciver and then he can scan your address on scan websites and recievr can know your balance easily.

[o_e_l_e_o]

This can be because when you are making use of a wallet that has different addresses, then nobody would know the actual amount that is in your wallet. So, I would suggest you to make use of a wallet that would change your address anytime you’re about to make a transaction.

Avoiding address reuse is necessary for your privacy, but it is not sufficient. Equally important is paying attention to change and choosing which inputs you use in a transaction. There is no point using coins from 5 different addresses for 5 different transactions, if you later make a consolidation transaction which includes all of the change outputs from those 5 transactions, since that can easily be detected and will therefore link the 5 original addresses together.

For this reason when need to send any assets from my wallet to my friend wallet, then i create a temporary wallet then sent my fund from my wallet to my friend wallet.

Using a single intermediary address between your main wallet and your friend's wallet does almost nothing to protect your privacy. If you want to move coins from one place to another while obscuring the history, then you should do so via a mixer. Further, using a "temporary wallet" is a terrible idea. What if your friend decides to send some coins back to your address, only for you to find you no longer have access to that address because it was part of your "temporary wallet" which you have since deleted?

[realcrypto]

Yes, if you send it directly from your wallet it is traceable. That is what differentiate financial transactions done using blockchain technology and traditional banking system.

[AakZaki]

your family or relatives can easily find out your assets if you use the main wallet as the sender. If you want to avoid publicizing your assets, you can send them using a third-party exchange, because the exchange's wallet will not show your assets personally because there are a lot of assets collected there. it is slightly better to avoid tracking on your personal wallet.

[Luzin]

Using a single intermediary address between your main wallet and your friend's wallet does almost nothing to protect your privacy. If you want to move coins from one place to another while obscuring the history, then you should do so via a mixer. Further, using a "temporary wallet" is a terrible idea. What if your friend decides to send some coins back to your address, only for you to find you no longer have access to that address because it was part of your "temporary wallet" which you have since deleted?

Mixer may be more effective, and more concise. I have never used a Mixer but it looks like the mixer is able to scramble your transaction address, if a see on several articel about mixer. So he doesn't need to create a new address, save the prifat key and seed. It may be a risk like you said, but I think I have several alternative wallets to store assets. Another problem is the cost, there will be additional costs if you have assets on the main wallet and sent on the second wallet that is used to send to your brother. Sometimes if busy network also needs more cost.

[DarkDays]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

If you send Bitcoin directly form your wallet then receiver will be able to know exact amount of coins you have on your address or addresses.
Good address management can reduce this, and you can also use coinjoin or mixers like ChipMixer to remove connection with your original address.
Sending coins form your exchange account is also an option, but much more risky because they can lock your account and freeze your coins at any time and for any reason.

Yes, as per the indications above there are options with mixers to mix up your address and in a way make it indistinguishable. That's a bonus working with Bitcoin also.

In a normal transaction once they receive the transfer they'll obviously see your address and if they wanted to they can check it on the explorer to see everything you've done with that address what went out. what came in, current balance. That's the beauty of blockchain transparency

[Findingnemo]

Bitcoin blockchain is publicly available so anyone have your address can enter into the blockchain explorers and find the history of the address, remaining balance and all and to the extreme it is also possible to find the wallet ID and find all other addresses belongs to that wallet if I am not wrong. So if you don't want anyone to know your address then you have to mix the coins before sending for that lot of ways are available or simply you can send funds from an exchange so that they will never know your personal address.

[BigBos]

If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?

If you send Bitcoin directly form your wallet then receiver will be able to know exact amount of coins you have on your address or addresses.
Good address management can reduce this, and you can also use coinjoin or mixers like ChipMixer to remove connection with your original address.
Sending coins form your exchange account is also an option, but much more risky because they can lock your account and freeze your coins at any time and for any reason.

mixers are the best way to keep them from seeing the contents of your wallet. Actually there are several ways other than that, but the method is quite inconvenient, like having 2 wallets. the first wallet is for savings purposes, while the second wallet is for transactions. well, even though he could send assets from wallet 1 to 2, and still be tracked, he just had to prepare an excuse for that. This is the same as an exchange, only the difference lies in the fee. the fee on the exchange may be higher, but it is safer. while sending from wallet to wallet is still at risk of being caught, it's just that the fee is less. well, if you don't want to bother like that, mixers are the best way.

[UmerIdrees]

If I transfer BTC to a friend/family, they now know my wallet address, correct?

Yes, they can see the address(es) which sent them bitcoin.

...
The simple answer is if you don't want anyone knowing about your other transactions, then never reuse addresses and be careful about spending change.

I think if you just want to hide your balance from a family member who isn't a tech guy, you can just transfer a small amount to another address and then make a second transaction to the family member.

This first transaction will most likely "hide" your total balance, and people wnt be looking past transactions unless they really want to track you.
Ofc that is not the best way to have privacy, and the best is to use a bitcoin mixer.  

But I think it depends  on how much privacy you really want to achieve.

Even this way the receiver can easily track where the bitcoin comes from and he may be able to know all your transactions and think you are a wealthy person  
The only way to hide your assets is to use a bitcoin mixer or if you are intelligent enough you can make use of exchange to act as a mixer for you.

By the way, if OP has lot of bitcoins, its advisable to divide and keep them in separate wallets.

[Blank-Head]

Not only you, Everyone who have the transection id can know about your wallet balance. Because its easy to check anyone's wallet address through tx id.
Its better to use an exchange wallet to send someone with full privacy.Then they will not be able to trace your balance anymore.

[StarKay]

Its better to use an exchange wallet to send someone with full privacy.Then they will not be able to trace your balance anymore.

As someone earlier mentioned in the public discuss that using exchange wallet to hide your identity from a family is like being penny wise but pounds foolish. Exchanges can provide your identity to any body or individual and they can even do worse with it.
If the OP is concerned about forfeiting his identity by that I guess he means exposing his account balance to his family members, he can simply operate from different bitcoin wallet. By that his bitcoin total balance will be his secret.

[Olayinka2225]

Yes I think they can see your balance if they scan your wallet. I think next time you wonna avoid this, it is better to send them crypto asset from an exchange wallet.

[o_e_l_e_o]

and to the extreme it is also possible to find the wallet ID and find all other addresses belongs to that wallet if I am not wrong.

There is no such thing as a "Wallet ID" when it comes to the bitcoin protocol. Any centralized service which provides you with a "Wallet ID" is simply using it to process logins to their website or system. It is not recorded anywhere on the blockchain. Further, knowing a single address from one wallet does not allow you to calculate any of the other addresses within that wallet. You might be able to work out (with some assumptions) other connected addresses by looking at different addresses being used as inputs together in the same transaction, but if someone is careful not to link addresses in this way, then you might not be able to tell anything at all.

The only way to hide your assets is to use a bitcoin mixer or if you are intelligent enough you can make use of exchange to act as a mixer for you.

Its better to use an exchange wallet to send someone with full privacy.

I would never recommend using an exchange as a surrogate mixer. Unlike a good mixer, all centralized exchanges track your IP address, your deposits and withdrawals, perform blockchain analysis to see where your coins come from and where they go, and link all that information together to sell or share with third parties. Using an exchange might prevent your family member from identifying your wallet, but it gives you much worse privacy overall, not to mention the additional risks you accept of having your coins frozen or seized.