Hi guys
im withdrawing btc from binance to my electrum wallet but i heard here that its not safe
to reuse the same withdrawal adress and that could make you lose your btc is that true
reddit com/r/Bitcoin/comments/8x4a6n/should_i_use_the_same_address_when_withdrawing/
Next time you want to read anything related to bitcoin, please learn to read between lines, if you don't you will learn some stuff the hardway because you may read
can't as
can
The link you read the original post clearly state it's for privacy reasons, I guess you didn't look into that aspect very well or you don't understand bitcoin and privacy.
What bitcoin privacy mean is just a way of having bitcoin and using it without anyone knows you are the one person using it and sending it bitcoin to a particular bitcoin will quickly make chain analyst to easily detect or assume who is behind the wallet address and that's why they it's discourage to always withdraw bitcoin to same wallet address, even the exchange can easily know that the address belongs to you.
according to what i know wach btc adress on electrum has a private key so its impossible
to lose your btc if you deposit multiple times to the same adress right?
also if i have like 0.10 BTC on electrum but this btc split to 5 adresses doesnt that mean in
order to spend this 0.10 i need to pay the transaction fees 5 times since i need to send 0.02 five times?
To have a full access to a wallet address, you must have either the private key or the seed phrase, a watch only address cannot sign a transaction but can create a transaction but without the private key, it's meaningless because you need to access it.
Sending a transaction to different wallet doesn't mean you will pay fees for all the transaction. If you make the 5 transaction in a single batch, you will pay the fee in a single transaction but if you send bitcoin independently, you will pay for each and it will cost you more.
