Topic: What if you plan to buy BTC for big money: Would you reuse a tested address? - page 3. (Read 386 times)
January 24, 2024, 06:14:48 PM
I don’t understand what you mean about testing address or wallet. But just as said above when you create a wallet you insert back the seed phrase to confirm the wallet or better still use another wallet that supports the seed phrase format and try to import this same seed there (make sure it’s offline, if the wallet you’re creating is actually a cold wallet) if the seed phrase is correct you can do what so ever you wish to that wallet and it’s corresponding addresses. Just as you have said it’s better not to reuse an address for privacy sake no matter the amount of bitcoin you’re buying there.
January 24, 2024, 06:14:33 PM
As long as the wallet is not compromised then it's okay for you to use it again. Well, if you prefer to different wallet or different address then that's also okay as long as it is not compromised. The only concern here is that you didn't send it to other wallet address that isn't yours which is to double or even triple check that it's the right address. It's your choice by the way if you use the address more than once or not but as you can see in the post above, that's what I will advice too for you to do.
January 24, 2024, 06:05:46 PM
There is nothing that you are testing. If the seed phrase is correct and it was used to create the address, you can send the coins to the address at ones, or send it to more than one addresses for privacy reason.
Even for small amount of bitcoin, you should not use bitcoin address twice.
Even for small amount of bitcoin, you should not use bitcoin address twice.
January 24, 2024, 06:02:36 PM
Last night we (five friends) had a lively discussion about reusing receiving addresses. The consensus was: for small amounts, new (never used) addresses are the way to go. Especially to protect privacy.
But what if you plan to buy BTC for a lot of money at once? Like 10,000 or 50,000 USD or even more?
Would you use an address twice to be 100% sure that the address works as expected and sends the BTC to your wallet? Would you perform a test transaction first and then reuse the address for the main purchase if the test is successful?
Or would you trust the wallet's algorithm and use a new address, even if you buy for a lot of money?
Fun fact: there were 5 of us and it felt like 8 different points of view! :-)
But what if you plan to buy BTC for a lot of money at once? Like 10,000 or 50,000 USD or even more?
Would you use an address twice to be 100% sure that the address works as expected and sends the BTC to your wallet? Would you perform a test transaction first and then reuse the address for the main purchase if the test is successful?
Or would you trust the wallet's algorithm and use a new address, even if you buy for a lot of money?
Fun fact: there were 5 of us and it felt like 8 different points of view! :-)
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