So with the nano ledger s, everytime i want to send or receive btc, i would connect my nano ledger s and go to that app and get a new send or receive address. Then go and send or withdraw btc with that address.
As long as you are generating a new address each time whether you are sending or receiving crypto to a site or someone else, then there would be no transaction history where they could check your wallet history correct? i remember back when i used electrum, i used the same receiving address many times but then people said you should not do that. So anyone that uses the same receiving address over again many times would mean the sites or people they send crypto to ... would not only know their wallet history but could figure out how much crypto that person has?
Now let say you want to install a new app on nano ledger and say its litecoin. Now when you install it and get a receiving address the first time and receive litecoin the first time to it, when you send some of that litecoin to someone else, there obviously is no history at all right except they could see you received x amount of litecoin the first time? But each time you receive litecoin later on, you generate a new address because that way... the site or person who wants to see your wallet history, they could only see the movement of those litecoin to only that address?
So say they sent you 6 litecoin. Whether you keep it in your wallet or then send some to someone else, it will never show you will ever have more than 6 litecoin ever right if they wanted to see your history right? So say next time you want lot of litecoin, let say 50 of them. if a site or someone send you that much, you generate a new litecoin receiving address so the 50 litecoin would show there? So you would have say 56 litecoin between two different addresses?
But now say you want to send say 0.5 ltc to a site. Will that 0.5 ltc be subtracted from the 50 litecoin you received address or the 6 litecoin you received address earlier? Have to assume its from the last 50 right? But what if you send say 53 ltc to someone. Would that mean 50 would be deducted from the last 50 ltc you received and 3 would be deducted from the 6 you first received so the remaining 3 ltc you have minus the sending fees is in that first ltc receiving address?
But say you receive ltc 6 times. Each time you use different receiving address. is there a way you could choose which ltc address you want to use to deduct the next time you send ltc to someone or this isn't possible? i remember you could do something like this with electrum back then with change addresses with btc? But if you do this, there would be more fees? is there more anonymity to it?
