Subaccounts in Bitget | Bitcointalksearch.org

Symmetrick

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Quote from: BitcoinsGreat on October 03, 2023, 02:13:20 PM

Well, i used FTX before and there i gave my subaccounts bitcoin deposit addresses to different clients and they successfully deposited.

Do not compare subaccounts of one exchange and another exchange, they do not have to be identical. Bitget has its own specifics. What you are talking about is on OKX, on Bitget the capabilities of sub-accounts do not have such capabilities as creating addresses in each subaccount.

Symmetrick

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Quote from: BitcoinsGreat on October 03, 2023, 01:33:08 PM

We always have the option of deleting the subaccounts. So what if we use the 20 subaccounts (to get different deposit address each time) and once used, we delete the subaccount and make a new one ? I never try this because i haven't made all the 20 sub accounts, but if we delete a subaccount, its deposit address is lost and then when we create another subaccount (after the 20th), it will generate a new set of addresses ?
If anyone can confirm this ?

I repeat once again: the presence and number of subaccounts does not affect the number of addresses for deposits. These are in no way related things. Addresses for deposits are generated only in the main account; you cannot generate addresses in sub-accounts, you can only distribute cryptocurrencies to your sub-accounts, which do not have separate addresses.

virasog

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Quote from: Altcoiner007 on October 03, 2023, 03:12:11 PM

You are not allowed to withdraw assets from the sub-account directly. Withdrawals are only possible after moving assets from sub-accounts to their main accounts. Asset transfers between sub-accounts and third-party accounts are not supported now

The other day, i also made sub accounts in OKK exchange and found the same that we cannot withdrawal using the subaccounts.

I think people should use the sub accounts for the purpose of managing the trading portfolio and therefore it does no matter if they are able to withdrawal from the sub account or the main account.

And people who are looking for privacy, these sub accounts just serve the purpose, as you will get different deposits addresses for deposits and when you withdrawal from main account, the amount will be send from the exchange hot wallet and not from your own wallet address. (When you internal transfer form sub account to main account for withdrawal purposes, that activity is internal and is not visible on blockchain).

Altcoiner007

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Quote from: BitcoinsGreat on October 03, 2023, 02:13:20 PM

Quote from: Symmetrick on October 03, 2023, 01:47:35 PM

Quote from: BitcoinsGreat on October 03, 2023, 01:33:08 PM

We always have the option of deleting the subaccounts. So what if we use the 20 subaccounts (to get different deposit address each time) and once used, we delete the subaccount and make a new one ? I never try this because i haven't made all the 20 sub accounts, but if we delete a subaccount, its deposit address is lost and then when we create another subaccount (after the 20th), it will generate a new set of addresses ?
If anyone can confirm this ?

I repeat once again: the presence and number of subaccounts does not affect the number of addresses for deposits. These are in no way related things. Addresses for deposits are generated only in the main account; you cannot generate addresses in sub-accounts, you can only distribute cryptocurrencies to your sub-accounts, which do not have separate addresses.

First of all, I am new to bitget but used subaccounts in FTX for some time. So if your statement is true, then FTX subaccounts behave in a different manner.

Sorry but if i understand your wording correctly, you are saying that the address for deposit are generated only in main account. We can give our main account address to any person to deposit.

And the 2nd part states that we can only distribute cryptocurrencies to sub wallets but we cannot deposit on those sub account addresses from outside ?

Well, i used FTX before and there i gave my subaccounts bitcoin deposit addresses to different clients and they successfully deposited.

The thing is this, you can use your main account to transfer assets between sub-accounts. But, the sub-account itself cannot perform such internal transfer.

You are not allowed to withdraw assets from the sub-account directly. Withdrawals are only possible after moving assets from sub-accounts to their main accounts. Asset transfers between sub-accounts and third-party accounts are not supported now

BitcoinsGreat

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Quote from: Symmetrick on October 03, 2023, 01:47:35 PM

Quote from: BitcoinsGreat on October 03, 2023, 01:33:08 PM

We always have the option of deleting the subaccounts. So what if we use the 20 subaccounts (to get different deposit address each time) and once used, we delete the subaccount and make a new one ? I never try this because i haven't made all the 20 sub accounts, but if we delete a subaccount, its deposit address is lost and then when we create another subaccount (after the 20th), it will generate a new set of addresses ?
If anyone can confirm this ?

I repeat once again: the presence and number of subaccounts does not affect the number of addresses for deposits. These are in no way related things. Addresses for deposits are generated only in the main account; you cannot generate addresses in sub-accounts, you can only distribute cryptocurrencies to your sub-accounts, which do not have separate addresses.

First of all, I am new to bitget but used subaccounts in FTX for some time. So if your statement is true, then FTX subaccounts behave in a different manner.

Sorry but if i understand your wording correctly, you are saying that the address for deposit are generated only in main account. We can give our main account address to any person to deposit.

And the 2nd part states that we can only distribute cryptocurrencies to sub wallets but we cannot deposit on those sub account addresses from outside ?

Well, i used FTX before and there i gave my subaccounts bitcoin deposit addresses to different clients and they successfully deposited.

BitcoinsGreat

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Quote from: ?? on ??

Quote from: Altcoiner007 on October 02, 2023, 07:31:30 PM

Not sure the last time you confirmed the number of sub-accounts allowed on each Bitget main account. Last I checked, each main account can support only up to 20 sub-accounts. One is not allowed to withdraw assets from the sub-account directly. Withdrawals are only possible after moving assets from sub-accounts to their main accounts.

You are right, 2 months ago this value was 50, now it is 20. But this is not the limit. If you need more subaccounts, then you need to contact support and they will provide you with this opportunity.

We always have the option of deleting the subaccounts. So what if we use the 20 subaccounts (to get different deposit address each time) and once used, we delete the subaccount and make a new one ? I never try this because i haven't made all the 20 sub accounts, but if we delete a subaccount, its deposit address is lost and then when we create another subaccount (after the 20th), it will generate a new set of addresses ?
If anyone can confirm this ?

noorman0

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Quote from: BitcoinsGreat on October 02, 2023, 10:19:04 AM

-snip-
Yeah, but then why people use mixers ? I mean aren't exchanges are the more cheaper way to mix the coins ? or the mixers provides greater level of privacy?

Because someone wants a higher level of privacy. Mixing coins on an exchange may only protect you from being tracked by people around you, but the exchange can hand over all your related information to the authorities if they have to. And please note, the exchange also has a censorship mechanism for "tainted" coins according to their own discretion. The coins you try to mix may end up in confiscation.

Altcoiner007

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Quote from: BitcoinsGreat on October 01, 2023, 01:04:57 AM

I created two subaccounts in bitget (https://www.bitget.com/) using the virtual emails (the one that appears by default).

So now i get different deposit addresses for every sub account in bitget. So i want to know that these address will always be different and will link to the wallet or completely separate ?

For example, in the Electrum wallet, we can create many BTC addresses but those are linked to each other in the same wallet. Similarly, the subaccount's wallet deposit addresses are linked too ?

Bitget allows you to create 50 different addresses for each cryptocurrency. As far as I remember, in sub-accounts there is no possibility of creating a deposit address; there is the possibility of transferring assets between accounts. You can create different addresses within your main account and they will not overlap. Exchanges operate using a completely different algorithm than wallets. They can be used as a mixer.

For example, you have an address on an exchange, you send your cryptocurrency there, and if you want to withdraw cryptocurrency from this address, then your exchange address will never appear in the transaction. The exchange withdraws your funds from its hot wallets. And addresses on the exchange are only needed to deposit your coins.

Not sure the last time you confirmed the number of sub-accounts allowed on each Bitget main account. Last I checked, each main account can support only up to 20 sub-accounts. One is not allowed to withdraw assets from the sub-account directly. Withdrawals are only possible after moving assets from sub-accounts to their main accounts.

BitcoinsGreat

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Quote from: ?? on ??

Bitget allows you to create 50 different addresses for each cryptocurrency. As far as I remember, in sub-accounts there is no possibility of creating a deposit address; there is the possibility of transferring assets between accounts. You can create different addresses within your main account and they will not overlap.

I haven't tested the subaccounts deposit address creation but in my Main Wallet, i can create different deposits address too and they will not belong to same wallet too, as you told.
By the way, its strange the Bitget give option of 50 subaccounts, FTX used to give such an option but binance do not give the options of subaccounts. Do we have any list of exchanges telling which have the option of subaccouts ?

Quote from: ?? on ??

Exchanges operate using a completely different algorithm than wallets. They can be used as a mixer.

Yeah, but then why people use mixers ? I mean aren't exchanges are the more cheaper way to mix the coins ? or the mixers provides greater level of privacy?

rat03gopoh

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Quote from: ?? on ??

As far as I remember, in sub-accounts there is no possibility of creating a deposit address;

So, deposits and withdrawals from and to external wallets can only be via the main account's wallet? Does it also apply to corporate accounts (if applicable)?

Quote

there is the possibility of transferring assets between accounts.

Do you mean transfer between main and sub accounts belonging to the same user?

Altcoiner007

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Quote from: ?? on ??

Quote from: BitcoinsGreat on October 01, 2023, 01:04:57 AM

I created two subaccounts in bitget (https://www.bitget.com/) using the virtual emails (the one that appears by default).

So now i get different deposit addresses for every sub account in bitget. So i want to know that these address will always be different and will link to the wallet or completely separate ?

For example, in the Electrum wallet, we can create many BTC addresses but those are linked to each other in the same wallet. Similarly, the subaccount's wallet deposit addresses are linked too ?

Bitget allows you to create 50 different addresses for each cryptocurrency. As far as I remember, in sub-accounts there is no possibility of creating a deposit address; there is the possibility of transferring assets between accounts. You can create different addresses within your main account and they will not overlap. Exchanges operate using a completely different algorithm than wallets. They can be used as a mixer.

For example, you have an address on an exchange, you send your cryptocurrency there, and if you want to withdraw cryptocurrency from this address, then your exchange address will never appear in the transaction. The exchange withdraws your funds from its hot wallets. And addresses on the exchange are only needed to deposit your coins.

This method is obviously adopted to enhance the safety of investor's funds on the platform against hacks and the overall security of Bitget as an exchange, rather than a cause for alarm. As much as I can recall, Bitget recently partnered with Cobo SuperLoop, an off-exchange settlement network - leaders in institutional digital asset custody technologies. I read Bitget users will trade on the exchange while securely holding their assets off-exchange, protected by Cobo’s advanced wallet technologies. That could be why you're getting direct generated address at different attention.

hugeblack

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Quote from: BitcoinsGreat on October 01, 2023, 01:04:57 AM

So now i get different deposit addresses for every sub account in bitget. So i want to know that these address will always be different and will link to the wallet or completely separate ?

It varies depending on exchange, and some exchanges has its own block explorer that gives more information about wallet addresses and cold storage, but I do not think there is an explorer that shares user data, such as linking Bitcoin addresses or cryptocurrency addresses to the account ID.

This does not mean that no one can know that your Bitcoin addresses are linked. Even if you use a mixing service, doing it incorrectly will lead to revealing your identity. Here is an example of two accounts^[1] that were discovered to belong to the same user despite his use of a mixing service.

So what are you trying to hide or do you want to enhance your privacy? I will give you better recommendations based on the situation.

[1] 'John Abraham ≈ naim027' Coincidence or Connection?

BitMaxz

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Bitget is an exchange I can't find an announcement if the deposit addresses they generated from the exchange are separated or linked.

However, most businesses including Bitget use one wallet(single seed) to manage all wallet addresses.
If they make a separate wallet storing multiple seed backups or private keys is pretty hard and too risky to manage.

If you know how to use a gateway payment like BTCpayserver you can manage all addresses in one wallet generated from Electrum by importing the xPub.

A single seed backup contains infinite keys(based on what Google said) is it not enough to manage all addresses generated from exchanges?

Binance have separate wallets to ensure the safety of their customer's funds but they only transfer them from the exchange to other wallet. If I remember correctly they have 4 separate wallets.

_act_

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On all exchanges, sub account will not have anything to do with your main account, they are different and they have different addresses which can not be linked and also can not be the same.

Even if the address is linked, it would be in a way that it can not be linked to you. If some peope is able to trace the addresses, they will only be able to trace it only to the exchange not you. I am talking about scammers.

The problem with exchanges is when you get verified and data is breached on the exchange which can be linked to you.

noorman0

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What is linked is not your wallet address but your account, it will be managed centrally. Transfer activity between your wallets is only recorded in their system (not blockchain) and cannot be publicly confirmed like on-chain tx. The recorded balance will be separated between the main and sub accounts.

Note: not a bitget user here, just believe it will be like exchanges with similar features in general.

BitcoinsGreat

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I created two subaccounts in bitget (https://www.bitget.com/) using the virtual emails (the one that appears by default).

So now i get different deposit addresses for every sub account in bitget. So i want to know that these address will always be different and will link to the wallet or completely separate ?

For example, in the Electrum wallet, we can create many BTC addresses but those are linked to each other in the same wallet. Similarly, the subaccount's wallet deposit addresses are linked too ?

Topic: Subaccounts in Bitget (Read 179 times)