Topic: New Wallet address for each tansaction (Read 286 times)
Your wallet doesn't have an address, transactions do and your wallet has many transaction addresses in it or at least the potential. So can you reuse a transaction address, yes it will still work but its like using the same check number over and over again.
I can not comment on the transaction system of other wallets but I am using Blockchain.info and Localbitcoins since the last couple of years and after each transaction new address is generated on those sites but sometimes I accidentally sent Bitcoins to my old address associated with that account but never missed any Satoshi so far but still I would recommend you to confirm it with your wallet provider BEFORE using any address more than one time.
Ok great, that's good to know. I thought that it should be fine to use the same address for many transactions as it's still an address belonging to myself.
Yes. You can use the same address multiple times and still receive funds to it.
However there are several problems with this, outlined in the Bitcoin Wiki article on address reuse. You harm the privacy of others as well as just yourself.
If you do it, just make sure you understand the risks involved and the fact that address reuse is not an intended feature of BTC. The only time when you would have to reuse addresses is when you receive payments from the same group at regular intervals and you don't give them a new address each time.
However there are several problems with this, outlined in the Bitcoin Wiki article on address reuse. You harm the privacy of others as well as just yourself.
If you do it, just make sure you understand the risks involved and the fact that address reuse is not an intended feature of BTC. The only time when you would have to reuse addresses is when you receive payments from the same group at regular intervals and you don't give them a new address each time.
If you are using a wallet that generates a new address for each transaction, what happens if you send to the same address more than once, like 5 times? Eg. Coinomi wallet? Will the transaction still go through or not?
Yes. You will still receive the funds normally. Most wallet services have this feature (I think Coinbase and Blockchain.info has this). Your wallet pretty much generates stems of addresses from your wallet's extended public key every time a transaction takes place. This is just to make it a bit difficult for people to track your payment/transaction history.
If you are using a wallet that generates a new address for each transaction, what happens if you send to the same address more than once, like 5 times? Eg. Coinomi wallet? Will the transaction still go through or not?
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