Topic: One Address vs Multiple Addresses (Read 178 times)
Most recommend that you use a new address for every transaction -- and it helps keep you anonymous. But its still pseudonymous
As long as you're just receiving BTC on a single address and have never sent a transaction you're better off since soon as you send a transaction your public key is now published.
If you're using a hardware wallet than receiving funds on a single address should not be a problem or an issue however if you used some website to generate a wallet or application, just make sure you're confident that the app has not been compromised
If you're using a hardware wallet than receiving funds on a single address should not be a problem or an issue however if you used some website to generate a wallet or application, just make sure you're confident that the app has not been compromised
And how do you go about it? Is one way better than the other?
Multiple addresses is better. It's obvious. Of course if we are talking about ordinary user.
Anonymity is the main and most important advantage in crypto. If you're using HD wallet there not any problem with use (if we compare with single address.) So it's good to use multiple addresses than one.
Also you must notice that doing some illegal things without bitcoin mixer it's very bad idea and it's don't matter have you single address or multiple.
The obvious disadvantage to using one addressis that if you are compromised. Then all your coins are gone. Yet if you have multiple addresses then if one is compromises,you only lose those coins and the majority of your coins are safe.
I'm guessing that you're mistaking address for wallet in this case. A wallet can have dynamic addresses or a static address. I can't say what the advantage/disadvantage is, whether it makes a difference in terms of privacy or not, but I don't see how having a static/multiple addresses reduces the odds against having your wallet compromised since if the wallet is compromised, so are all the addresses at the same time.Having multiple wallets (meaning several seeds) would of course reduce the odds of having all your funds compromised significantly, but I don't think that's what OP is asking about.
What are the advantages or disadvantages of using one address for all your bitcoin transactions versus using many addresses or new address for each new transaction?
Advantages of using a single address:1. Good for a known identity or brand (to show current funds)
2. Less complicated (ease of use)
Advantages of using multiple addresses :
1. More privacy (it will be harder for users to track your transactions)
2. More organized (used mostly by exchanges to help them in regards to knowing who is who)
And how do you go about it? Is one way better than the other?
Both have advantages of their own, it depends on what you're after.
The obvious disadvantage to using one addressis that if you are compromised. Then all your coins are gone. Yet if you have multiple addresses then if one is compromises,you only lose those coins and the majority of your coins are safe.
What are the advantages or disadvantages of using one address for all your bitcoin transactions versus using many addresses or new address for each new transaction?
And how do you go about it? Is one way better than the other?
And how do you go about it? Is one way better than the other?
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