Bitcoin Privacy & Address reuse - page 3.

satscraper

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Activity: 714

Merit: 1298

Quote from: apogio on July 10, 2023, 11:51:08 AM

Hello.

I have a multisig vault. In order to achieve the highest privacy:

1. I generate an address per incoming transaction.
2. My wallet (co-signers) has been created using airgapped devices.
3. I have imported my xpubs to my personal electrum server on my node.

But, I have sent some coins from addresses to which I had originally sent directly from Binance.

Have I lost all of my privacy because of this mistake?

Please feel free to let me know whether you think that I exaggerate. I am not a privacy maniac. I just want to know the best practices.e

It seems like you have completed KYC procedure on Binance which implies that the address to which you have sent from this exchange is linked to your identity. Consequently, any transactions from this address will also be linked to you.

If I where in your position I would use mixer and shuffle the associated UTXOs.

I recommend that you read the following guide ( divided into four sections ^[1] ^, ^[2]^,^[3] ^and^[4].) to gain a deeper understanding on how you can maintain privacy when making your transactions.

:::::::::::::::::::::::::: :::::::::::::::::::::::::::: ::::::::::::::::::::::::::::::

[1]. Understanding Bitcoin Privacy with OXT — Part 1/4
[2]. Understanding Bitcoin Privacy with OXT — Part 2/4
[3]. Understanding Bitcoin Privacy with OXT — Part 3/4
[4]. Understanding Bitcoin Privacy with OXT — Part 4/4

apogio

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Quote from: Charles-Tim on July 10, 2023, 12:13:38 PM

Send it to an address that you own, not an address on your privacy wallet. Use another wallet for it and name it 'centralized exchange wallet'. Send the coin from Binance to one of the addresses. Use a coinjoin for it like whirlpool, or use a mixer like Whirlwind to send it to your privacy wallet.

For whirlwind mixer. Download Tor browser and open Whirlwind site on it: http://whirlwct7ertqae6i7ivsm475kgia6v67zzxevgzkilykknrjke33cqd.onion/

That's great, but doesn't it apply only to new "coins"? I mean can I do the same with the "coins" that I already own?

Charles-Tim

legendary

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Leading Crypto Sports Betting & Casino Platform

Quote from: apogio on July 10, 2023, 12:05:19 PM

I don't reuse address but for the first thing you mention, how would you go about doing that from scratch?

Could I send it from Binance to another wallet and then use a mixer (like whirlpool) to send it to my multisig vault ?

Finally, since I haven't done that, what are the risks that may occur now ?

Send it to an address that you own, not an address on your privacy wallet. Use another wallet for it and name it 'centralized exchange wallet'. Send the coin from Binance to one of the addresses. Use a coinjoin for it like whirlpool, or use a mixer like Whirlwind to send it to your privacy wallet.

For whirlwind mixer. Download Tor browser and open Whirlwind site on it: http://whirlwct7ertqae6i7ivsm475kgia6v67zzxevgzkilykknrjke33cqd.onion/

Quote from: apogio on July 10, 2023, 12:05:19 PM

Hi! No, I have sent from Binance to another wallet. Then from my other wallet into my multisig vault (not in a single transaction) but in several transactions, in order to create larger UTXOs.

Make use of coin control, send the coin to a mixer or coinjoin it. Freeze the address and do not use it anymore. But I will recommend you to create a new wallet.

apogio

hero member

Activity: 560

Merit: 1060

Quote from: Charles-Tim on July 10, 2023, 11:56:30 AM

To have privacy, first mix the coin you send from Binance using a mixer or coinjoin before sending it to your full client wallet address. Mixing it will make it easy for you.
Do not reuse address.

I don't reuse address but for the first thing you mention, how would you go about doing that from scratch?

Could I send it from Binance to another wallet and then use a mixer (like whirlpool) to send it to my multisig vault ?

Finally, since I haven't done that, what are the risks that may occur now ?

Quote from: hosseinimr93 on July 10, 2023, 12:01:26 PM

You have a (multi-sig) HD wallet and you spent the fund that you had received from binance. Am I getting you correctly?
Did you use coin control? If you didn't use coin control and you used multiple UTXOs in a single transaction, now all those coins are linked together.

Hi! No, I have sent from Binance to another wallet. Then from my other wallet into my multisig vault (not in a single transaction) but in several transactions, in order to create larger UTXOs.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

You have a (multi-sig) HD wallet and you spent the fund that you had received from binance. Am I getting you correctly?
Did you use coin control? If you didn't use coin control and you used multiple UTXOs in a single transaction, now all those coins are linked together.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

To have privacy, first mix the coin you sent from Binance using a mixer or coinjoin before sending it to your full client wallet address. Mixing it will make it easy for you.

Or you can first convert it to a privacy coin like monero on a decentralized exchange and then convert it back to bitcoin.

Do not reuse address.

apogio

hero member

Activity: 560

Merit: 1060

Hello.

I have a multisig vault. In order to achieve the highest privacy:

1. I generate an address per incoming transaction.
2. My wallet (co-signers) has been created using airgapped devices.
3. I have imported my xpubs to my personal electrum server on my node.

But, I have sent some coins from addresses to which I had originally sent directly from Binance.

Have I lost all of my privacy because of this mistake?

Please feel free to let me know whether you think that I exaggerate. I am not a privacy maniac. I just want to know the best practices.e

Topic: Bitcoin Privacy & Address reuse - page 3. (Read 554 times)