Question about receiving addresses | Bitcointalksearch.org

khaled0111

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Quote from: novolavaexchange on December 23, 2021, 12:01:48 PM

Now i created a wallet on electrum.
Is this desktop wallet (electrum) has lower transaction fees when transferring to binance? And is this trustworthy?

Great choice! I have been using Electrum for years and didn't face any problems with it and never lost a single Satoshi. However, you should know that Electrum supports only bitcoin. For other altcoins you will have to use other wallets. Also, make sure to ownload it from the official website and verify its signature. Read this guide:
[GUIDE] How to Safely Download and Verify Electrum

hugeblack

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Quote from: Charles-Tim on December 21, 2021, 04:37:33 PM

I still do not know why many people prefer it. Well, probably as a result of the people using bitcoin now are not security and privacy oriented.

I can mention many reasons:

- Domain name: It is the blockchain and when you use it you will find that it is a reliable wallet that has been operating for several years.
- Web-wallet: Most financial services do not have a desktop app, but rather rely on a website, so it is difficult to find someone who has downloaded an application on PC.
- Identity verification and the concept of accounts: As I mentioned, dealing with financial services for many is linked to creating an account and verifying identity.
- Google search result: I don't know but my first wallet was a blockchain.com/info and I used it for about 3 months. Cry

For @OP, I advise you to learn a little before continuing to hold bitcoin, you can watch this YouTube channel ---> https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ and ask questions here.

Charles-Tim

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Quote from: novolavaexchange on December 23, 2021, 12:01:48 PM

Now i created a wallet on electrum.
Is this desktop wallet (electrum) has lower transaction fees when transferring to binance? And is this trustworthy?

BitMaxz has given answers to what you have asked. In addition to what BitMaxz has commented, know that Binance is an exchange and a custodial type that gives no keys which makes your coins on Binance not to be yours on the blockchain and which makes you not to have complete control over your own coins. The custodial exchange has the complete control which can be used to overide yours. Also know that custododial exchanges are hackers sites of attraction, this makes your coins or your kyc that you provided them not to be safe.

Electrum is a noncustododial wallet, it only required the fee that are paid to miners to make the transaction to be included in a block for confirmation. So you do not have to bother about the fee. As BitMaxz commented, you can even customize the fee on Electrum while making transaction, but in this regard, you will like to check the mempool observer to be able to know the fee rate (sat/vbyte) needed to make your transaction to be included in a block as fast as possible.

https://mempool.space
https://jochen-hoenicke.de/queue/#BTC,24h,weight

BitMaxz

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Quote from: novolavaexchange on December 23, 2021, 12:01:48 PM

Now i created a wallet on electrum.
Is this desktop wallet (electrum) has lower transaction fees when transferring to binance? And is this trustworthy?

Electrum is not a web wallet it's a non-custodial wallet that you can both install on PC or Mobile phones.

About the fees, you can manually set how much fee you want and the transaction speed depends on the network and transaction fee.
Read this "How to manually set Electrum transaction fees?"

About trust then for me, this wallet is trusted never had any issue using Electrum. Just make sure you have a backup seed phrase for future recovery.

novolavaexchange

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Quote from: The Cryptovator on December 23, 2021, 07:38:04 AM

Quote from: novolavaexchange on December 22, 2021, 11:25:15 AM

I also understand your concerns about blockchain web wallet, but I couldn't find any other reliable/trustable web wallet which don't require KYC docs.

My concern is why are you just wondering there is only Web wallet where you can receive and send Bitcoin. This is a terrible decision using Web wallet to store your cryptocurrency. If you aren't forced to use a Web wallet for any reason then there is no reason to choose a Web wallet where you can use Electrum on mobile devices and PC as well. Otherwise, you could buy a hardware wallet for best practice. I am just wondering why do you want involved with blockchain Web wallet? How you are soo confident that blockchain Wallet is secure and trusted? You don't need to trust anyone once using the non-custodial wallet.

Now i created a wallet on electrum.
Is this desktop wallet (electrum) has lower transaction fees when transferring to binance? And is this trustworthy?

The Cryptovator

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Quote from: novolavaexchange on December 22, 2021, 11:25:15 AM

I also understand your concerns about blockchain web wallet, but I couldn't find any other reliable/trustable web wallet which don't require KYC docs.

My concern is why are you just wondering there is only Web wallet where you can receive and send Bitcoin. This is a terrible decision using Web wallet to store your cryptocurrency. If you aren't forced to use a Web wallet for any reason then there is no reason to choose a Web wallet where you can use Electrum on mobile devices and PC as well. Otherwise, you could buy a hardware wallet for best practice. I am just wondering why do you want involved with blockchain Web wallet? How you are soo confident that blockchain Wallet is secure and trusted? You don't need to trust anyone once using the non-custodial wallet.

o_e_l_e_o

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Quote from: novolavaexchange on December 22, 2021, 11:25:15 AM

I also understand your concerns about blockchain web wallet, but I couldn't find any other reliable/trustable web wallet which don't require KYC docs.

Blockchain.com is nether reliable nor trustworthy. They have major security flaws and major vulnerabilities in their set up, which have resulted in thousands of bitcoin being stolen from their users. Their support is useless, and they offer absolutely no help to users who have had funds or even entire addresses inexplicably disappear from their account. I would not trust them with a single satoshi.

Why are you focused on using a web wallet? Even the most basic mobile or software wallet will usually be a better choice.

nc50lc

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Quote from: novolavaexchange on December 22, 2021, 11:25:15 AM

-snip-
I also understand your concerns about blockchain web wallet, but I couldn't find any other reliable/trustable web wallet which don't require KYC docs.

At least create an offline backup of your "Recovery Phrase" from 'Security' settings. (write it on a paper and store it in a safe place)
That way, even if you (will) encounter issues with Blockchain wallet, you can import it to another client and access your funds through it.

Last time I tried to create a new wallet, they didn't prompted me to create a backup.

novolavaexchange

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Quote from: Emitdama on December 22, 2021, 08:51:25 AM

Quote from: novolavaexchange on December 21, 2021, 01:57:23 PM

I want to receive money into my blockchain com wallet:
Under Wallets & Addresses tab, there are unused addresses (segwit) which I can add and label them.
So, can I use those btc addresses as receiving addresses permanently?

Although you have to know is that the reason why they changing the address and giving you a new and unique one is for added security. And of course you can use the addresses, but using them permanently means that every funds goes to the address and can easily be traced. It’s usually best when you’re steady changing the address. But it is still up to you on whatever you want to do and how you want it.

I understand but i will only receive money into that permanent address from one source repeatedly . For the other sources i will use different addresses.

I also understand your concerns about blockchain web wallet, but I couldn't find any other reliable/trustable web wallet which don't require KYC docs.

The Cryptovator

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I will write just don't deposit. I think you already got many answers and suggestions from here. If this isn't enough then just read a few threads on this section where you made the post. You would discover most of the topics related to blockchain Wallet where you can read many issues. Same as others my suggestion is to avoid at least any Web wallet. Otherwise, you may need to cry the same as other users who lost funds into the blockchain Wallet.

Emitdama

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Quote from: novolavaexchange on December 21, 2021, 01:57:23 PM

I want to receive money into my blockchain com wallet:
Under Wallets & Addresses tab, there are unused addresses (segwit) which I can add and label them.
So, can I use those btc addresses as receiving addresses permanently?

I think how the blockchain.com wallet works is that every time you use an address to receive find, the wallet automatically creates a new and unique address that is also linked to your private key wallet. It doesn’t repeat the same address, but you can also decide to continue making use of that particular address that you have used to receive funds.

Although you have to know is that the reason why they changing the address and giving you a new and unique one is for added security. And of course you can use the addresses, but using them permanently means that every funds goes to the address and can easily be traced. It’s usually best when you’re steady changing the address. But it is still up to you on whatever you want to do and how you want it.

sheenshane

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Quote from: novolavaexchange on December 21, 2021, 01:57:23 PM

So, can I use those btc addresses as receiving addresses permanently?

Yes, you can use it permanently or reuse it, your coins will appear on your dashboard even though you will use different unused wallet addresses.

I tend to agree with all comments above, blockhain.com wallet has the worst services and if you have time to research it here, there are a lot of issues regarding their services. Electrum is a good alternative Bitcoin wallet address and it has also an unused Bitcoin address that you may use too after making a transaction, it will generate a new address on its own.

If you didn't receive it yet, I think it's good if you will change to a new Bitcoin wallet platform that completely open-source code which is a noncustodial wallet. You can download it here https://electrum.org/#download and don't forget to verify.

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Agreeing with the users above, it's better for you to ditch blockchain.com.

It's an open secret that for blockchain.com, their wallet is not their priority, this is why over the years there is little to no development for it. It is still the same buggy wallet that lacks essential features. In fact, there has been a disturbing amount of hacked victims although we can't say for sure which side is at fault... Lastly, at some point you may need to reach out to their support, consider yourself lucky if you get a response within a week which may or may not be helpful in your case.

It's not too late to dodge the bullet.

Charles-Tim

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Quote from: Upgrade00 on December 21, 2021, 02:16:17 PM

I personally hope you did your research before choosing a wallet software or hardware to store your funds on

Even the weakest and the most vulnerable to online attacks are web wallets among the three software wallets (web, mobile and desktop), blockchain is a web wallet. I still do not know why many people prefer it. Well, probably as a result of the people using bitcoin now are not security and privacy oriented.

Quote from: Upgrade00 on December 21, 2021, 02:16:17 PM

Yes. those addresses are all linked to your wallet and you can receive funds from any of them, it is however recommended as suggested above to change the receiving address each time you receive through it.

This goes to novolavaexchange:

Quote from: https://support.blockchain.com/hc/en-us/articles/360000574523-My-receiving-requesting-address-has-changed

You may notice that your bitcoin and bitcoin cash addresses change every time you receive funds. Your ethereum address will not change.

Even while using reputed wallets like Electrum and Trezor, the address change for each transactions while making use of bitcoin. Not even recommendable to make use of a wallet that do not change to another new address that has never received bitcoin before for each transaction.

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Quote from: Charles-Tim on December 21, 2021, 02:04:51 PM

You can use and reuse bitcoin address, but not recommended as it will significantly make you (your transaction) not private. I mean no privacy by reusing an address as the bitcoin can be tracked on blockchain to only single address you are reusing.

As well as this, using blockchain.com might also make your privacy worse and op should consider moving to a different piece of software.

Bitcoin addresses are reusable though and it's possible to keep using the same address for similar things if you need to/for example an address per customer.

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I personally hope you did your research before choosing a wallet software or hardware to store your funds on, here is a thread where you can check out list of wallets, the most and least recommended. The thread is a bit out of date, but blockchain.com is listed there as not recommended (under its previous name, blockchain.info).
Electrum wallets is one of the most recommended wallets, you can research on it and how to verify its signature to ensure you are using the right one; In bitcoin, you do not trust, you verify.

Quote from: novolavaexchange on December 21, 2021, 01:57:23 PM

So, can I use those btc addresses as receiving addresses permanently?

Yes. those addresses are all linked to your wallet and you can receive funds from any of them, it is however recommended as suggested above to change the receiving address each time you receive through it.

Charles-Tim

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The address tab only consist of your zpub key, the key that consists of all your bitcoin addresses. I am not a blockchain.com user but I think another address is automatically generated after each transaction.

You can use and reuse bitcoin address, but not recommended as it will significantly make you (your transaction) not private. I mean no privacy by reusing an address as the bitcoin can be tracked on blockchain to only single address you are reusing.

novolavaexchange

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Hi
Newbie here

I want to receive money into my blockchain com wallet:
Under Wallets & Addresses tab, there are unused addresses (segwit) which I can add and label them.
So, can I use those btc addresses as receiving addresses permanently?

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