Actually, some Bounty Manager will commonly ask for some certain wallet that is available.
But, if they don't ask for a specific wallet, you can use any kind of BTC wallet.
However, please note about this:
- I suggest you not use exchange wallets.
- There are some platforms that also provide BTC wallet such as blockchain dot com. But this is also not guaranteed good enough.
- So far, I am suing better Segwite wallet, the fee for withdrawal is also affordable enough and this is speedy. It is also quite secure enough than othe ronine wallets.
Topic: Need Help!!! (Read 271 times)
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer. 
When I was new I used an exchange bitcoin address for signature campaign, I don't face any problem but I learn that it's better if we control our wallet with private key, so I suggest you use a wallet like Electrum, most of the signature campaign now ask segwit address, electrum can give that to you. You should just use exchange wallet only if you like to trade/convert Bitcoin to fiat or vice versa.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
It is not wrong to use an exchange's wallet if that is from reputable exchanges but you are also aware of the risk that you might lose them as you are not in full control of the said address. But if your concern is to have a secure wallet address and have the fullest control, a custodial wallet is the best choice, especially if you are planning to store them in long term.I use a custodial wallet before since that was available in our country but as I know about the Electrum wallet, I decided to switch and now I use this from receiving payment from the signature campaign.
Thank you I think you should not use any exchange wallet in this case. Because you have some limitations when it comes to using exchange wallet and many managers point out that exchange wallet can't be used . You can use Trust Wallet.
The best way is to store your coins in non custodial wallet safely on their address and receiving payments on it only instead of using any exchange because if you are aware about these exchange risk then you won't leave them there.The exchange funds are prone to some restrictions as well as many other risks of hacking and phising scams on most of these centralised exchanges.Most of the members are storing funds over wallets only as you can see so make the decision according to it.
Thank you I think you should not use any exchange wallet in this case. Because you have some limitations when it comes to using exchange wallet and many managers point out that exchange wallet can't be used . You can use Trust Wallet.
You may, just be aware of couple possible issues:
- not reaching min. required deposit amount (some exchanges may keep cumulate individual small deposits till you reach it ... but some can just seize it )
- some exchanges may have sort of expiration time for deposit addies
(e.g at Kraken, I believe you can have only 5 active addies ... generating another one makes the oldest expired ... I'm not sure what happens if you send funds to such addy )
- some exchanges may not allow receiving funds from gambling sources (e.g. coinbase) ... so participating in gambling sig. may lead to account suspension (if they are able to track down the source)
- there is no guarantee the address will be active forever (usually after some major security incident/update a brand new addies may be generated )
It's always better to check exchange TOS to avoid possible complications or complete loss.
- not reaching min. required deposit amount (some exchanges may keep cumulate individual small deposits till you reach it ... but some can just seize it )
- some exchanges may have sort of expiration time for deposit addies
(e.g at Kraken, I believe you can have only 5 active addies ... generating another one makes the oldest expired ... I'm not sure what happens if you send funds to such addy )
- some exchanges may not allow receiving funds from gambling sources (e.g. coinbase) ... so participating in gambling sig. may lead to account suspension (if they are able to track down the source)
- there is no guarantee the address will be active forever (usually after some major security incident/update a brand new addies may be generated )
It's always better to check exchange TOS to avoid possible complications or complete loss.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
You're already involved in bounty campaigns, aren't you? Where do you receive your payments from your previous engagements? Bitcoin payments are not so different from altcoin payments.
Although you can use your deposit address from the exchange, or even a casino (as long as it's in the right format), I strongly advise using an external non-custodial wallet instead, as explained above, and then you can transfer your funds wherever you like.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
When I was new I used an exchange bitcoin address for signature campaign, I don't face any problem but I learn that it's better if we control our wallet with private key, so I suggest you use a wallet like Electrum, most of the signature campaign now ask segwit address, electrum can give that to you.
As far I know, several exchanges have not given you the bech32 address where that is required as a mandatory condition to join the signature campaign. Exchange addresses also need a long confirmation than non-custodial wallets, which make you confused in blockchain had confirmed but didn't receive yet on exchanges,
you have to be ready for all consequences whatever your choice.
you have to be ready for all consequences whatever your choice.
If there is no requirement about the type of address that must be submitted, then you can provide your exchange address. But please note another important note such as, certain managers enforce a rule that payment addresses cannot be changed. So I advise you to follow the members' recommendations above.
While an exchange address is not ideal for controlling funds, it can under certain circumstances be a reason to do so. Like because your signature earnings estimate is very small and you have to cash every payment. It's just that, you know the risks that you can suffer at any time.
While an exchange address is not ideal for controlling funds, it can under certain circumstances be a reason to do so. Like because your signature earnings estimate is very small and you have to cash every payment. It's just that, you know the risks that you can suffer at any time.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
Yes, you can.But how you'll feel when your exchange is in maintenance mode and they announced deposits and withdrawals are disabled. in the meantime, your manager sends your weekly payment, your funds will be stuck.
So a non-custodial wallet way better choice because you'll have full control over your funds.
Totally up to you — the only reason to send the funds straight to an exchange is if you're planning on immediately selling the coins after you receive them. Obviously if you're planning on holding the coins, a non-custodial wallet is the better choice.
You should start by educating yourself about bitcoin, how it works and what types of wallets there are with their pros and cons. Then choose a correct one depending on your preference and needs and finally learn how to use that wallet.
For example a regular suggestion would be Electrum and you should learn how to verify signatures, what transaction fees are and how to create a cold storage.
Otherwise you will keep facing issues and you may lose funds specially if you use a custodial wallet where you don't even have any control over your money.
For example a regular suggestion would be Electrum and you should learn how to verify signatures, what transaction fees are and how to create a cold storage.
Otherwise you will keep facing issues and you may lose funds specially if you use a custodial wallet where you don't even have any control over your money.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
Centralized exchange is fine to use as your BTC address as long as its legit and of course once you join gambling related signature campaign, you must anticipate that the funds are came from gambling site which other exchanges prohibits. To be more safe, have your BTC wallet in Electrum which is more safer and you have the control over your wallet.
You probably shouldn't use an address from an exchange because if you ever decide to change it and the manager asks you for proof of ownership, you won't be able to provide that since you can't sign a message from it. Use a non-custodial wallet like Electrum instead.
It will be a very big mistake if the person did not stake any other address on this forum and only replying on the exchange address. But even that aside, custodial exchanges are providing custodial services, no seed phrase given, no private key given, which means no full control. The exchange can decide to change the addresses for all users and making it mandatory for all users not to use the old address, this could even cause headache. I have also noticed on some exchanges that will make deposit unavailable temporary, all these are still likely problems that someone that is using custodial exchange could face.
Do not use any centralised platforms or exchanges to store your coins and tokens, you have zero access to the address private key so if anything bad happens to the platform or exchange your assets will be lost too, don't do it, instead go for open source wallet like trust wallet, you will have ETH, BTC and other coins addresses available.
An exchange, especially a centralized one, is not a wallet to store your coins. It's a platform where you transfer your Bitcoins to exchange them for other assets or fiat. Once that is completed, you are supposed to withdraw your funds and store them in wallets that are solely under your control. At the top of the Beginners & Help board, you can see a pinned thread written by Lauda. It will give you plenty of options in terms of software and hardware wallets that you can use. I would start with that.
Definitely you can use exhange wallet address but at your own risk, because anything can happen to the exchange at any moment so your funds are not safe there. I will personally advise you to use a wallet address which you have the full control(Non-Custodial Wallet), which I believe if you don't reveal your private key to anybody your funds are completely safe there.
Let me use myself as example there was one time I bought coin on Bilaxy exchange before it was hacked, I wanted to withdraw the coin to my non custodial wallet but I was kind of busy, I later heard it that the exchange was hacked I rushed to the exhange to see if my funds where safe and if I can withdraw the coin then I noticed all trading activities was disabled, I couldn't do anything I just have to leave the coin in the exchange after like few weeks they restored trading activities but I wanted to withdraw the coin to my wallet but the gas fee was to high with was as a result of the hack so I just have to leave the coin in the exhange.
That's why I won't advise anybody to leave money in exchange wallet address have learnt my lesson.
Let me use myself as example there was one time I bought coin on Bilaxy exchange before it was hacked, I wanted to withdraw the coin to my non custodial wallet but I was kind of busy, I later heard it that the exchange was hacked I rushed to the exhange to see if my funds where safe and if I can withdraw the coin then I noticed all trading activities was disabled, I couldn't do anything I just have to leave the coin in the exchange after like few weeks they restored trading activities but I wanted to withdraw the coin to my wallet but the gas fee was to high with was as a result of the hack so I just have to leave the coin in the exhange.
That's why I won't advise anybody to leave money in exchange wallet address have learnt my lesson.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
Simple answer is YES, you can use it but as OmegaStarScream stated above, There's some minor disadvantage if you use it when it comes to proving ownership. If you insist to use an Exchange wallet, Just make sure you already stake a non-custodial bitcoin wallet address on this thread https://bitcointalksearch.org/topic/stake-your-bitcoin-address-here-996318 so that you can use it as reference once your account got compromised or you want to change address. Staking wallet address is the only way to secure your account in case you loss access on it.
You probably shouldn't use an address from an exchange because if you ever decide to change it and the manager asks you for proof of ownership, you won't be able to provide that since you can't sign a message from it. Use a non-custodial wallet like Electrum instead.
Honestly speaking, I want to take part in the signature campaign. But I have a little doubt about the bitcoin payment address. From where should I give my recipent's address? May I use a centralized exchange to take payment? Thanks in advance for the answer.
Jump to: