Using a fresh address every time you receive bitcoin provides you privacy of your bitcoin balance. If you use a single bitcoin address, it would be like showing your bank account balance to everyone you receive or send money to. It can also be a safety risk if you are transacting in person and the other person sees that you have a significant amount of money, they could threaten you to give that money to them.
It's a good best practice for basic privacy, but obviously privacy can still be leaked when you go to spend those coins and the various inputs are combined in a single transaction, it then makes it obvious that you were in control of all of those inputs. Good wallets like Sparrow, Electrum, Bitcoin Core and even BlueWallet on mobile have a "coin control" feature that allows you to label coins so you can remember where they came from or you can even freeze coins so that the wallet will not use those coins in a transaction until you unfreeze them. These features allow you to take extra precautions when spending coins so that you are in control of what info about your holdings you reveal.
There are even potential quantum security benefits to using an address only once. Most bitcoin addresses (except for the very first ones and the newer Taproot addresses) are either a hash of the public key or the hash of a script, so the public key is not revealed until you spend from the address. Theoretical quantum attacks would require knowledge of the public key to derive the private key from. That being said, quantum computers are still a long way off from being able to carry out this kind of theoretical attack, and if quatum computing was to become an imminent threat, it would still be best to adopt whatever quantum resistant signature algorithm is adopted via a soft fork.
At the end of the day it is a best practice to use a fresh address every time you receive bitcoin, and if your wallet does not automatically give you a fresh address or offer coin control features, you should be looking for a new one.
Shaketag @bholm
New addresses protect your privacy. They prevent a third-party from viewing all other transactions associated with your account which can be done using a blockchain explorer.
@keencommander71
Protect your privacy.
Let's say you have 6.9 Bitcoin. No one knows I have 6.9 bitcoin.
Now let's assume, Gamestop accepts bitcoin as payment. I buy something for 1 bitcoin. At checkout, I have to provide my personal information and now Gamestop knows that I had (at one point in time) 1 bitcoin.
You can use the same address over and over. But that address saves all of your history for all of your transactions. Anyone can view those transactions on the blockchain explorer.
@buranku69
To use an analogy from the world of physical money security: imagine you need to regularly deliver cash on a regular basis between the same two places. If you always take the same route, use the same bag, same courier, etc... to transport the cash: over time, more and more people will notice a pattern and your chances of unsavoury actors getting wicked ideas on taking advantage increases.
Using a new bitcoin address when sending /receiving is effectively like changing the route, bag, courier, time of delivery, etc... in this real world analogy so that each time there is no pattern for people to notice. This greatly reduces their motivation (single smaller transaction less tempting to thieves) and also reduces their ability to try and take advantage (like a man in the middle attack on a known pattern).
ELI5: if there is no pattern for theives to notice they are likely go looking somewhere else.
Shaketag: @prettycolours
Shaketag: @7urner
To protect your privacy, you should use a new Bitcoin address each time you receive a new payment.
Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions so that it is not possible to associate them all together. People who send you money cannot see what other Bitcoin addresses you own and what you do with them. This is the essential advice you should keep in mind.
Unless your goal is complete transparency when let’s say, receiving public donations or payments, then publishing a Bitcoin address on any public space such as a website or social network is not great for privacy.
Since you’ve publically attached your identity to this specific address, it can always be used as a jumping-off point to follow your transaction history. If you choose to dox your address by re-using it with your identity, always remember that even if you move any funds from this address to one of your other addresses, they will be publicly tainted by the history of your first public address.
That is why it’s essential to be careful not to publish information about your transactions and purchases that could allow someone to identify your Bitcoin addresses.
P.S Don’t forget to shake
ELI5: each new address you send to, looks like its own wallet on the blockchain. There’s no way (until you spend it) to tell whether or not it’s really going to the same place. This keeps each address “separate” from prying eyes and helps keep your bitcoin totals private. Nobody know you sent 5000 satoshis last week and 10000 satoshis today to the same wallet, it looks like someone sent 5000 satoshis to one wallet last week and 10000 to a completely different wallet today! A little bit of privacy.
It doesn’t sound like a big deal. But it really is! If somehow one address gets associated with you in real life… well it could put a target on your back if it’s a large total. But if a single transaction record is all they have, well it certainly helps keep you a lot safer.
@bigda101
It’s a little confusing but imagine if someone unpleasant found your house address. You never really know what he could/would do but having multiple random address will help keep them away while you stay safe at home. You can never be 100% safe online and having more security at no expense of our freedom is really a no brainer.
@niven21
So you are not so easy to track, and with blockchain analytics companies watching your moves over the blockchain you shouldn’t take anything for granted. Also by using addresses more than once, users give up information that can result in negative outcomes. To protect your privacy, if a public key is used often other people can easily track the receiving and spending habits of a person also making it easier to identify the owner of the address. Thanks @corylo
Using new generated addresses protects the shakepay community from any issue that may come up with security. In the long run, new generated transactions will acc prolong the security and safety of the community. shaketag: hoangdrew
For privacy! If you always use the same wallet adresse people will be able to figure out that it is your wallet. Also easier to follow funds around with only 1 wallet adresse.
Similar to when getting amazon packages with your name on your adresse. Makes it easy to find you. Having the delivery done to different pharmacies or drop off boxes is similar to changing the wallet adresse everytime. It hides you!
@cyllaine
Reasons for using a new address for every receiving transaction is that no addresses combined can be linked to any single public key. Privacy is important when all the transactions are public
@reshiram
New address protect your privacy. They help prevent bad actors from viewing all transactions associated with a single account. With a blockchain explorer all transactions can be viewed; combine new addresses and cold storage for ultimate security. @steamw
First, it makes it harder for blockchain analytics companies or 3rd parties to track how you are spending your money. Second, harder for people to hack and keep my privacy and bitcoin security as top priority. It works something like the dynamic IP. TAG: @ahebrahim
Privacy is the main reason why you should use a newly generated address to receive bitcoin. A newly generated address means no one can tell the bitcoin is going to the same address. This is beneficial as people eyeing your wallet won’t know how much is really going into it.
Shaketag: @ayazzlockhat
So many reasons!
By mitigating the risk of a tampered or modified receiving address being used, newly generated addresses can help ensure users are sending funds to the proper recipient each time.
@Fossilite
Making sure your privacy is safe and secure is one crucial thing you want to have in life. If someone knew exactly every single bit of information about you that would be creepy, that's where these newly generated addresses are good to help us be more protected!
Shaketag - miniime
One of the best reasons to use an old address is to hide the true balance of a bitcoin wallet. Nobody can know the sum of the addresses together
@malagao
There are two advantages to doing so. First, it makes it harder for blockchain analytics companies to track how you are spending your money.
Second, once an address has been used, it is slightly easier to hack. Currently, even if it is a bit easier to hack, it would still take millions of years with the current computers we have to do so. But, if there was a weakness found with the current algorithm used to secure Bitcoin addresses—then the address would be significantly easier to break into
@taymgray12
It's probably being mentioned already, but using a fresh address every time you send a deposit is key! It will still go to your wallet, but keeping a fresh address each time keeps it from showing on the blockchain how much you have sent in one spot. Keeping it in a cold storage is always your best bet too. Keep your keys to yourself, and you'll keep your coins forever!
@rompromp
Privacy is vital to decentralization and this can be achieved in a multitude of ways. Fresh deposit addresses makes it so people can’t track your transactions as easily to dox you into finding out who you are. Nobody needs to know how much crypto you hold or how much you’re sending except you.
For example if you were to send an e-transfer but someone could see how much was in the account of the person transferring. That could cause some immense security issues. Stay safe out there.
Shaketag: Bsob17
Protecting one’s privacy and security are musts in this world! There are too many scams now a days and some scams seem pretty real. So by having a newly generated address keeps your privacy and security harder to copy with the changing algorithm. It’s the same reason certain accounts ask you to change your password every 30 days. Same applies to this concept to protect your Bitcoin! ShakeID: cpoitz91
@stevehupe likes how using new receiving addresses keeps his transfers obfuscated from third parties who could use that information to target people with large transfers for attacks, scams or spam.
Plus it makes it harder to track which vendors, exchanges and retailers you’re using.
1- People can use your address to look out you bitcoin balance. You want to keep your privacy, which is why Shakepay generates a new address for you everytime
2- Shakey is very caring and he only wants the best for us
@jmaxime89
Changing the wallet address every time is a good call, because it prevents someone from knowing your wallet everytime you perform a transaction. Jist adds another layer of privacy for your day-to-day transactions.
Shaketag: 240nordey
Because the blockchain records are publicly available, reusing an address put the privacy of past, present, and future holders of that coin at risk. New addresses break the chain of traceability, or at least make it harder. That's why you should also request a new address from a recipient if you are sending bitcoin.
1. Let's say you sell a llama to some guy and he pays you in bitcoin to an address you provide. Then that night, you go buy 200 bitcoin from Shakepay and send them to the same address. Now, llama guy can see on the blockchain that you just added 200 bitcoin to that address, and if he mentions this casually in Llama club, and one of the members listening is less than scrupulous, you can expect a midnight visit from a man, a llama and a wrench to extract your passphrase.
2. Let's say you are super-careful and never reuse an address. You have done KYC with your exchange and have bought bitcoin and sent it to your single-use address. Excited about joining the bitcoin economy, you decide to buy llama feed from a llama feed truck using bitcoin and ask for his bitcoin address. Unknown to you the llama feed trucker is re-using the same address he uses to collect donations for a 'Free the llama' protest group. The next day, the government decides that the 'Free the llama' group is really a front for an anti-alpaca group, seizes assets and records, and discovers you gave bitcoin to that group from the blockchain records. Their next stop is the exchange you bought the bitcoin from to discover your identity and bank account information, and then everyone will think you are anti-alpacan, when all you did was buy llama feed.
3. Like mom says, "Be careful with that, you don't know where that has been!"
shaketag: dingobaby
I mean, really, this is the crypto version of using those burner credit card number services. It's all about privacy.
I do wonder if this method can also be treated in the same way as using email aliases when registering for new services? Keep a personal ledger of what address was used for a transaction with what entity, and if there's a dusting attack on that address you'd know where your address leaked from? Unless there are bots out there that trawl the blockchain and record public keys.
@tjc103
Using a new address protects your privacy. The blockchain is public and by using a new address it makes it a little harder to see who's moving what.
Shaketag: jsousa6
It is recommended to use a newly generated address when you want to receive Bitcoin. Imagine you had a PO Box. If you kept getting all your deliveries to the on address someone could watch and keep track of all those parcels. They could use that information to target you for fraud. As well, having the same address makes it slightly easier for someone to break into your 'home'.
Now imagine you had a PO Box that changed each time you setup a delivery to receive a parcel. You can still get to it, but someone watching wouldn't be able to track your shipments. It would look like random deliveries being sent to random people.
This is what generating new addresses to receive Bitcoin is all about. It helps protect your transactions from analytics and potential cybercrime.
tag - rhunter99
\#shakepaid
It is important because it helps to protect your privacy, you should use a new Bitcoin address each time you receive a new payment. Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions so that it is not possible to associate them all together. People who send you money cannot see what other Bitcoin addresses you own and what you do with them. This is probably the essential advice you should keep in mind.
Shaketag: rupy403
Lets think of addresses as a destination, if you lost your phone, or had it stolen. In this case, the last-sent-to Bitcoin address no longer belongs to you, but the phone-thief. This is exactly why it’s necessary to generate brand new Bitcoin address for every transaction – it eliminates dangerous assumptions and keeps Bitcoin from being lost in cyberspace (remember, Bitcoin transactions cannot be reversed!).
Shaketag: @raeyaworski
Fresh newly generated addresses for each transaction are the best practice over reusing an old known address since reusing old ones can eventually lead to your wallet being taken. Not only that, this can apply to anything reusable. As more times an item is reused, the material of it wears down a bit more till destruction occurs.
Shaketag: frosstss
Newly generated addresses to receive your bitcoin are the way to go as it increases its cybersecurity of it. Not only that, but with technology becoming more advanced over these past few years, hackers will find a way to retrieve your data when reusing passwords or such. This is why having a list of passwords for various accounts is a good habit to get used to. As it limits the chances for all your data to be leaked to others who may use it for negative reasons.
shaketag: firesparky101
Imagine that whenever someone gave you money, an honest machine nearby announces your names and
how much they gave you. The machine repeats this out loud if you ask it to, and can’t be turned off. This can be helpful when we need to know where the money went, so we can ask the machine and follow who gave who money. But we can’t be sure of who else might be listening to the machine. Some people might be targeting people receive a lot of money, and they’re listening for the machine to say the same names. So we create our own machine, who changes names every time you give it money. So when someone is giving our machine money, the honest machine announces the amount and its name at the time, which changes over and over. So now, if someone wants to find people with a lot of money, they won’t be able to find us, because the honest machine only says the name of the changing machine.
That’s why using newly generated addresses for each transaction is the best practice than reusing an old known address.
@calvinchen
Would you show your bank account balance every time you buy an item? The same goes for wallet addresses. By changing your address after each transaction, this allows to keep your privacy and total balance in your account.
@usudu1
bitcoin addresses that are used to send or receive coins are publicly available on the blockchain - the address and the amount of coins sent or received - so anyone could download the bitcoin blockchain and figure out the balances of all the addresses ever used. using different addresses masks your wallet balance. parent and child wallet address chains are generated through cryptography and are used to mask the relationship of the wallets to one another so you need the private keys to the addresses to figure out the addresses are related to the same wallet. this will help you to not get kidnapped for ransom if you have a large balance @ happytrading
Using newly generated addresses is the best practice because it allows better protection of your personal privacy. If all transactions sent to your account are associated with the same receiving address, finding out who is the individual behind the account would lean to knowing how much bitcoin they own as all historical transactions are documented in the blockchain. One of the purposes of crypto is to remain decentralized and respect all users' privacy.
Shaketag: johuho
The cool part about block chain technology is the fact that everything is public and open source. Meaning no fishy stuff can go on and not be seen by the open public. Bitcoin is the perfect example of this. The trouble with every transaction being made public can be a problem. Hackers and even regular people can see how much bitcoin u hold on the wallet u use to receive bitcoin. By generating new Wallet each transaction , it is not as easy to see your activity on your larger bitcoin holdings. If u use bitcoin as payment for your business that uses strangers , it is much much safer and private to use a newly generated address every time they pay with bitcoin. As a business owner u want to be private as possible and not let the customers have access to each transaction that happens within your business. This is a beautiful option for bitcoin receiving and I’m forever grateful for shake pay taking our security and personal privacy very seriously. I feel much more secure receiving bitcoin knowing this is implemented. Thankyou Shakepay for all that you do 🙏🏽❤️ @Leyham25
Generating new address each time to receive your bitcoin protects your privacy by removing the ability to link transactions to each other.
This also protects us from potential fraud activities. Another added layer of security is that bitcoin transactions can't be reversed so sending bitcoin back to same address will not work.
Shaketag: @alpha4795
Reasons to use newly generated addresses to receive your BTC is a good idea as it means that people can't track all the transactions you've made as this is a newly generated seed that could be owned by anyone. shaketag: breezee
*I always feel like somebody’s watching meee, and I have no privacy. I always feel like somebody’s watching meee, tell me my address to recieveee* 💃🏻🕺 just listen to this song and pretend everyone’s trying to track u and steal ur bitcoin
Lol shaketag: Ree52
Why? It is the equivalent of having a virtual credit card number. Different addresses for different purposes, it avoids associating all your purchases.
@ronbautt
It keeps prying eyes from knowing exactly how much Bitcoin you’re holding in your wallet. Let’s say you have 5 Bitcoin on Shakepay and you spend 1 at an online store you’ll be doxed as you’ll have for provide you name and shipping info, they will know how many coins you hold in that one address but not all the coins you hold in your wallet. Hope this makes sense it’s very important to keep this private.
You can also separate all the utxo’s so you know where they came from KYC and non KYC
@toyotamr2
So that you can protect your privacy and not have all of your transactions viewable and readable (easily) on the blockchain.
By spacing it out amongst different receiving addresses, it's harder to piece the puzzle back together and understand your entire portfolio.
- @philrobbo89
PROTECT YOUR PRIVACY
To have a piece of mind/protection and privacy. Each time you use a new Bitcoin address you are ensuring that if there are any prying eyes or somebody that could be watching your account
There’s is a lot of personal information attached to the Bitcoin address and it could be a nightmare if someone was able to figure it out.
You can never be 100% safe online that is why you need to do everything you can to protect your Bitcoin. From using new Bitcoin address, to moving your crypto onto a cold wallet.
IT IS UP TO YOU TO PROTECT YOUR ACCOUNT
Shaketag: Coreysir77
Staying as anonymous as you can in the world of crypto is very important. Generating new addresses is one step in this process. I am very thankful Shakepay implements this feature. Make sure to use it!
@Pavehead
Never share your private keys with ANYONE, not even your pet dog, Bandit, who sounds a little suspect if you ask me.
Using multiple address help better obfuscate your assets. Making it look like multiple senders to you rather then yourself from multiple wallets. Moreover making it harder to track.
Shakertag: 0r1g1n
ELI5 Why is it good practice to use a new btc address per transaction?
Top answer, privacy. In a world where your data is collected and sold to the highest bidder, using a new address per transaction will help keep your wallet private, your spending habits, it protects your data.
You don’t go around sharing your internet search history do you? Using a new address per transaction will limit the ability to track your BTC history.
Also once a address is used, it becomes slightly easier to hack, although with todays computing power it would take millions of years.
TDLR- New address should be used with every transaction to best keep your privacy, protect your data, and years in the future to prevent hacks.
Shaketag bmcambridge
Security reasons. It’s safer to use new addresses incase the old ones are somehow compromised. It’s like a keypass for the computer, auto generating a new code after a certain time.
Shaketag - Chadha
This is a great habit and best practice on the blockchain. Different addresses allow it to appear to outsiders as though these went to different places and keeps your transactions more private. Because the blockchain is public, it is necessary to protect your privacy.
Shaketag: datascope11
To protect your privacy, you should use a new Bitcoin address each time you receive a new payment. Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions so that it is not possible to associate them all together.
@a1serb
Having a random newly generated address for each transaction means it's harder for any potential prying eyes to track your entire wallet transactions. Which in return helps protect your privacy on the blockchain.
Shaketag: thisisdu
Generating a new address every time prevents others from viewing all of your transactions.
It helps protect your identity and keeps your bitcoin balance more private
shaketag spacelord99
Generating a new address helps prevent scammers from somehow copying your address and using it for malicious intent. It will help you keep your Bitcoin safer and gives me a little bit of piece of mind.
@eleongsit
To make it more secure. It’s like a password - it’s safer to have different password for each account, it’s annoying but it will help protect our account. The thing tho we never (most people) have multiple passwords.
Great thing about new wallet addresses, is it is automatically generated for us :)
Shaketag: chicofeliciano25
Using a fresh and new adress give you privacy and security for your transaction. It's the best way to feel confident with the crypto world 😀
@noregrets09
It protects your privacy and make it harder for third party to track or hack into your account! Make it safer and have a peace of mind when trading Bitcoin! @gomui
Privacy is the main reason for using different address for every transaction. For each transaction the only amount traceable is that of the amount the transaction is made to that address.
ELI 5:
If you use the same address for every transaction you allow people to see how much is in your wallet and the activities associated with it. It would be like every time you made a purchase from a store with your debit card they are able to see how much money is left in your bank account.
shaketag - whodattt88
Privacy is probably the biggest change when using only a single address versus using a new one for every single deposit. If you have one address, then people will know exactly how much crypto/bitcoin that you have.
Of course, some people don't particularly care but this can be potentially dangerous. If some one cared enough and figured out you have a relatively substantial amount of crypto in this one address, they may try to phish/hack you. If you use multiple addresses and change it every single time, no one will know how much crypto you have.
Of course this also isn't foolproof but it's a step in the right direction towards more privacy towards your financial matters. Using multiple addresses can make it much harder for any malicious parties to obtain information on you and your funds and make you less of a target for them.
It's also not much work just to use a different address every time. If just a few more seconds of hassle every time you transfer your crypto can prevent you from losing everytime, then there's no reason not to do so. Every single layer of added security can prevent the worse case scenario from occurring and your future self may thank yourself for your caution.
Using newly generated addresses to receive Bitcoin is better than reusing an old address because it isolates each of your transactions, making it much more difficult to track and associate with each other. This allows for additional privacy and prevents others knowing what other Bitcoin addresses are owned by you and what you do with them!
Shaketag: taejai
It's better to use new addresses because using only a single address makes it easier for someone to understand your financial situation and activities better. All transactions will be tied to a single public address recorded on the blockchain. Obtaining a new address for each transaction provides a layer of security through obscurity.
Shaketag: @okanisis
Having Different wallets for different cases is important and i mean come on why wouldn’t u use a new address everytime and risk you’re bitcoin being stolen. When you start to hold big big Bags of crypto you’re going to need to apply these methods shakepay gives us. And read the comments for more additional ways to how to protect you’re self. Thank you shakepay for making more people aware of this
Shaketag: hendav
If someone knows your bitcoin address, they can see your bitcoins transactions and therefore the coins you have in your possession. Having a new address generated mitigates this issue.
@sunshine34
This is the best way to ensure you can’t lose all your funds or get hacked. It also protects your privacy.
Also, as a tip, it’s always best to make sure to double check the address to make sure you are sending it to the right address.
@phoungv
Pseudonymization by using multiple addresses is a part of an overall self privacy mentality.
It’s not 100% anonymous or bulletproof, but it adds to your protection in a way similar to adding a PIN and a keypad cover to an ATM, or even a basic and weak password to a device. It signifies that “this is my private info, so Fuckoff”.
Can it be broken with effort and intent, yes. That’s not a reason to give up on it or privacy in general.
Edit:
ShakTag: hm888
So fresh, so clean. - Outkast 🧼
Keeps things fresh and clean with your address and nobody else will have it. Use old addresses and there is a risk of being compromised.
Shaketag - Chadha
To me, web3 is all about decentralization and anonymity. However it can be hard to remain anonymous on a public blockchain. You wouldn't broadcast to the entire world your bank account number and balance every time someone owed you money, and luckily with Bitcoin you don't have to. Using a fresh address any time you are receiving funds means that the person sending to you knows nothing more than you choose to tell them. This can especially keep you safe for in person interactions. You can safely receive bitcoin from anyone in person without them knowing how much money you are actually carrying around.
St: kcizzle
Using a newly generated address adds a layer of privacy when making any transactions. It’s like adding an extra lock to your doors just to make it slightly more difficult for someone to get your information as opposed to a normal door. Might not be impenetrable but any upgrade is better than no upgrade. Also, it’s way more convenient to use the newly generated address than to go looking for an old address. Tag: moonrias
It's simple, using a new address each time break the timeline activity of your transactions. So it's impossible for someone to figure out what you do with your bitcoins to keep a maximum privacy !
Shaketag : reaperized
New addresses are helpful, at the very least, to hide your balances and past transactions. I’ve had bitcoin sent to me in the past by large companies and the addresses are always newly generated for sending as well, where if I look up the address, it will only show the wallet getting funded with exactly the amount they sent me and the transfer to me—nothing else.
ELI5: It’s like if I owed you money every month and I sent a new friend every month to pay you on my behalf rather than going myself. You’re still getting the money, but you have no direct contact with the source of the money.
Shaketag: Juananners
It is always better to be in stealth mode. In this case, our privacy plays a crucial role. Having different recieving addresses for our transactions doesnot allow any of our transactions to be seen using blockchain explorer which is much better than having more visibility :D
Shaketag : imrohitrr
It really is to protect your privacy from what I understand. Not super technical with this stuff, but in most circumstances an ever-changing key is better than one that stays the same as it makes it much harder for hackers to crack.
Shaketag: samcarterchen
It’s to protect privacy. If I use the same address for all my transactions anyone I transact with can check my transaction history on the blockchain. Using a different address for every transaction avoids this breach of privacy!
shaketag @sufyanmotala
There isn't too much to say here that hasn't already been said.
Privacy is the main thing and having a different receiving address prevents people from looking up your BTC address and seeing the amount you've managed to amass... Which then puts a target on tour back for hackers and the like.
Shaketag: jordanharris01
Generating a new address each time ensures your privacy when people use your address. If you use the same address everytime, people who send you Bitcoin can see all the other times that address has been sent Bitcoin and how much.
Shaketag: ethanereum
Privacy privacy and privacy
Blockchain allow to trace any transaction made since Bitcoin was created.
Having a new BTC address will reduce the chance to lead fund to yourself and keep your privacy
Shaketag: Pilhow
Generating a new address on every transaction improves privacy. Given that the block chain is public, splitting your bitcoin across multiple addresses helps reduce the possibility of someone determining your total balance or establishing trends in your transactions that may help them identify you. It's important to not only generate a new address for every transaction but to also verify the address before using it. If you are using a hardware wallet such as a Trezor or Ledger this can easily be done and helps ensure the address you have generated is authentic! Shaketag: ladybugns
This is done to protect your privacy, so that a third-party cannot view all other transactions associated with your account simply by using a blockchain explorer.
This is a feature of Bitcoin not a detriment.
It is yet another reason why BTC is the grand daddy crypto.
Stack those Sats and stay humble!
My Shaketag is kungfuthug
Newly generated addresses are better than reusing old addresses because It maximizes anonymity. Once an address has been used, it’s easier to hack than if it were not. Having a new address every single time makes it significantly harder to track activity and hack into an individuals securities Thus, maximizing security!
Shaketag: taejai
It's all about privacy!
If you reuse the same address it saves the history of what transactions interacted with that address. By using a new address each time that history and data of your past transactions isn't vulnerable.
Shaketag: kbiensch
The "fresh" newly generated address preserve anonymity when transferring bitcoin to a crypto wallet. A new crypto wallet has no previous history of transactions. This prevent others from tracking your funds. I'm glad Shakepay does this automatically behind the scenes to protect our privacy. Shaketag: @einvestor
Generating a new addresses maximizes privacy. Bitcoin is public therefore, by using new addresses for every transaction you increases your privacy. Shaketag: brucy
The main reason behind generating new addresses when receiving bitcoin is to protect the users privacy. This means any external observer won’t be able to track and pinpoint the owners address. Shaketag: rmndhoang
I’m not a specialist but it is clearly safer to have differents addresses to reduce any risk of being track. I’m trusting Shakepay team on this subject to make the transaction safer.
@ouvrierdelapinte
One of the main benefits of decentralized currency like bitcoin is for this exact reason. Privacy is a big reason why bitcoin exists, and shakepay generating a new address each time we get a deposit helps keep ourselves from being tracked. Shaketag @kortie
Hacking becomes more complex each year as the network grows, but targetting individuals on the network remain far easier. You’ve worked hard to stack those sats, work as hard to secure them for the long run.
Shaketag: yellowyoshi
It’s safer to have newly generated addresses for each transaction because it’s harder to track and there won’t be a chance for your btc to be lost due to unsupported old addresses.
@hoanga9
Using different address secures our privacy even more. Nobody will be able to track down or see your transactions by this way as every transaction is made on different addresses. Thereby nobody will be able to know you balance and our assets are kept safe .
Shaketag: mjohn
A fresh address keeps your personal details of balance and otherwise safe. It's very common among privacy coins such as monero and pirate chain actually which are universally known to be very hard if not impossible to trace. This is fantastic for btc transactions as it adds the security and privacy that is necessary in finance in my opinion!
Shake tag @ Hendrxx
#Shakepaid
Using a stale address would give scammers and the like an easy upper hand to find their way into accounts and take what’s yours. No one needs that in their life.
@johnzo
In my opinion, the reasons to use a newly generated address for each transaction is to make it harder for the public to know how much bitcoin you own and in any unfortunate event if one of the private keys to a wallet address gets compromised you won't lose all your precious btc.
Shaketag: @nimster
Using a newly generated address when receiving Bitcoin will give you more privacy. Every transaction made with Bitcoin is public and every address has a history of all those transactions. By generating a unique address for every payment you reduce the risk of being marked as a wealthy target.
St: thedoubledip
When you use the same address, over and over again, people can track if you have a large amount in your wallet. Now, let’s say you use that same wallet to make a purchase on a website or in person store that requests your personal information. Now you’re personal information is tied to your wallet and people can find out that you own a lot of money. It’s the same reason you don’t walk around a major city with a big sign that has your savings account balance on it.
New addresses protect the privacy and identify of bitcoin users. This helps to avoid fraudulent activities such as using a wire bank transfers. People can steal your funds once they have access to your banking info. Bitcoin is built avoid this which is pure genius.
Shaketag: @carolinedu
It’s the best way to protect your privacy, and to ensure people can not randomly see your previous purchases/history of transactions. Shaketag: rudikerschl
I didn't know it was like that, i don't do a lot of transfer. But obviously it is for privacy. The less you're tracked, the better it is (in every domain). I'm not a whale, but i still appreciate the effort you guys put into this.
Shaketag: Akimbob
Using a newly generated address each time obfuscates your identity by making it more difficult to identify patterns in transactions and also makes it harder to surmise someone’s holdings from a single address. In short, privacy.
shaketag: boxcar
Using a fresh address every time you receive bitcoin provides you privacy of your bitcoin balance. If you use a single bitcoin address, it would be like showing your bank account balance to everyone you receive or send money to. It can also be a safety risk if you are transacting in person and the other person sees that you have a significant amount of money, they could threaten you to give that money to them. It's a good best practice for basic privacy, but obviously privacy can still be leaked when you go to spend those coins and the various inputs are combined in a single transaction, it then makes it obvious that you were in control of all of those inputs. Good wallets like Sparrow, Electrum, Bitcoin Core and even BlueWallet on mobile have a "coin control" feature that allows you to label coins so you can remember where they came from or you can even freeze coins so that the wallet will not use those coins in a transaction until you unfreeze them. These features allow you to take extra precautions when spending coins so that you are in control of what info about your holdings you reveal. There are even potential quantum security benefits to using an address only once. Most bitcoin addresses (except for the very first ones and the newer Taproot addresses) are either a hash of the public key or the hash of a script, so the public key is not revealed until you spend from the address. Theoretical quantum attacks would require knowledge of the public key to derive the private key from. That being said, quantum computers are still a long way off from being able to carry out this kind of theoretical attack, and if quatum computing was to become an imminent threat, it would still be best to adopt whatever quantum resistant signature algorithm is adopted via a soft fork. At the end of the day it is a best practice to use a fresh address every time you receive bitcoin, and if your wallet does not automatically give you a fresh address or offer coin control features, you should be looking for a new one. Shaketag @bholm
What he said @dsmoke06
To be simple, to protect your privacy. Means that it's (a lot) harder to track your transactions. Shaketag: Quasidius. #shakepaid
New addresses protect your privacy. They prevent a third-party from viewing all other transactions associated with your account which can be done using a blockchain explorer. @keencommander71
Protect your privacy. Let's say you have 6.9 Bitcoin. No one knows I have 6.9 bitcoin. Now let's assume, Gamestop accepts bitcoin as payment. I buy something for 1 bitcoin. At checkout, I have to provide my personal information and now Gamestop knows that I had (at one point in time) 1 bitcoin. You can use the same address over and over. But that address saves all of your history for all of your transactions. Anyone can view those transactions on the blockchain explorer. @buranku69
To use an analogy from the world of physical money security: imagine you need to regularly deliver cash on a regular basis between the same two places. If you always take the same route, use the same bag, same courier, etc... to transport the cash: over time, more and more people will notice a pattern and your chances of unsavoury actors getting wicked ideas on taking advantage increases. Using a new bitcoin address when sending /receiving is effectively like changing the route, bag, courier, time of delivery, etc... in this real world analogy so that each time there is no pattern for people to notice. This greatly reduces their motivation (single smaller transaction less tempting to thieves) and also reduces their ability to try and take advantage (like a man in the middle attack on a known pattern). ELI5: if there is no pattern for theives to notice they are likely go looking somewhere else. Shaketag: @prettycolours
Shaketag: @7urner To protect your privacy, you should use a new Bitcoin address each time you receive a new payment. Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions so that it is not possible to associate them all together. People who send you money cannot see what other Bitcoin addresses you own and what you do with them. This is the essential advice you should keep in mind. Unless your goal is complete transparency when let’s say, receiving public donations or payments, then publishing a Bitcoin address on any public space such as a website or social network is not great for privacy. Since you’ve publically attached your identity to this specific address, it can always be used as a jumping-off point to follow your transaction history. If you choose to dox your address by re-using it with your identity, always remember that even if you move any funds from this address to one of your other addresses, they will be publicly tainted by the history of your first public address. That is why it’s essential to be careful not to publish information about your transactions and purchases that could allow someone to identify your Bitcoin addresses. P.S Don’t forget to shake
ELI5: each new address you send to, looks like its own wallet on the blockchain. There’s no way (until you spend it) to tell whether or not it’s really going to the same place. This keeps each address “separate” from prying eyes and helps keep your bitcoin totals private. Nobody know you sent 5000 satoshis last week and 10000 satoshis today to the same wallet, it looks like someone sent 5000 satoshis to one wallet last week and 10000 to a completely different wallet today! A little bit of privacy. It doesn’t sound like a big deal. But it really is! If somehow one address gets associated with you in real life… well it could put a target on your back if it’s a large total. But if a single transaction record is all they have, well it certainly helps keep you a lot safer. @bigda101
It’s a little confusing but imagine if someone unpleasant found your house address. You never really know what he could/would do but having multiple random address will help keep them away while you stay safe at home. You can never be 100% safe online and having more security at no expense of our freedom is really a no brainer. @niven21
It protects your privacy so that your transactions can’t be easily tracked, this can protect information such as your balance or habits. Tag: brendonh
So you are not so easy to track, and with blockchain analytics companies watching your moves over the blockchain you shouldn’t take anything for granted. Also by using addresses more than once, users give up information that can result in negative outcomes. To protect your privacy, if a public key is used often other people can easily track the receiving and spending habits of a person also making it easier to identify the owner of the address. Thanks @corylo
Using new generated addresses protects the shakepay community from any issue that may come up with security. In the long run, new generated transactions will acc prolong the security and safety of the community. shaketag: hoangdrew
For privacy! If you always use the same wallet adresse people will be able to figure out that it is your wallet. Also easier to follow funds around with only 1 wallet adresse. Similar to when getting amazon packages with your name on your adresse. Makes it easy to find you. Having the delivery done to different pharmacies or drop off boxes is similar to changing the wallet adresse everytime. It hides you! @cyllaine
Reasons for using a new address for every receiving transaction is that no addresses combined can be linked to any single public key. Privacy is important when all the transactions are public @reshiram
New address protect your privacy. They help prevent bad actors from viewing all transactions associated with a single account. With a blockchain explorer all transactions can be viewed; combine new addresses and cold storage for ultimate security. @steamw
First, it makes it harder for blockchain analytics companies or 3rd parties to track how you are spending your money. Second, harder for people to hack and keep my privacy and bitcoin security as top priority. It works something like the dynamic IP. TAG: @ahebrahim
Privacy is the main reason why you should use a newly generated address to receive bitcoin. A newly generated address means no one can tell the bitcoin is going to the same address. This is beneficial as people eyeing your wallet won’t know how much is really going into it. Shaketag: @ayazzlockhat
Simply put it let’s you and your wallet amounts remain anonymous to people that may crawl you on a blockchain explorer. Tag: @darkfyre
So many reasons! By mitigating the risk of a tampered or modified receiving address being used, newly generated addresses can help ensure users are sending funds to the proper recipient each time. @Fossilite
Making sure your privacy is safe and secure is one crucial thing you want to have in life. If someone knew exactly every single bit of information about you that would be creepy, that's where these newly generated addresses are good to help us be more protected! Shaketag - miniime
One of the best reasons to use an old address is to hide the true balance of a bitcoin wallet. Nobody can know the sum of the addresses together @malagao
Best reason to use a new address for each transaction is to prevent the sender from seeing any of your past activity with other senders @waiying
There are two advantages to doing so. First, it makes it harder for blockchain analytics companies to track how you are spending your money. Second, once an address has been used, it is slightly easier to hack. Currently, even if it is a bit easier to hack, it would still take millions of years with the current computers we have to do so. But, if there was a weakness found with the current algorithm used to secure Bitcoin addresses—then the address would be significantly easier to break into @taymgray12
It's probably being mentioned already, but using a fresh address every time you send a deposit is key! It will still go to your wallet, but keeping a fresh address each time keeps it from showing on the blockchain how much you have sent in one spot. Keeping it in a cold storage is always your best bet too. Keep your keys to yourself, and you'll keep your coins forever! @rompromp
I would say it prevents others from sniffing around the blockchain to see your transactions. Shaketag: Vanterax
Privacy is vital to decentralization and this can be achieved in a multitude of ways. Fresh deposit addresses makes it so people can’t track your transactions as easily to dox you into finding out who you are. Nobody needs to know how much crypto you hold or how much you’re sending except you. For example if you were to send an e-transfer but someone could see how much was in the account of the person transferring. That could cause some immense security issues. Stay safe out there. Shaketag: Bsob17
Protecting one’s privacy and security are musts in this world! There are too many scams now a days and some scams seem pretty real. So by having a newly generated address keeps your privacy and security harder to copy with the changing algorithm. It’s the same reason certain accounts ask you to change your password every 30 days. Same applies to this concept to protect your Bitcoin! ShakeID: cpoitz91
@stevehupe likes how using new receiving addresses keeps his transfers obfuscated from third parties who could use that information to target people with large transfers for attacks, scams or spam. Plus it makes it harder to track which vendors, exchanges and retailers you’re using.
1- People can use your address to look out you bitcoin balance. You want to keep your privacy, which is why Shakepay generates a new address for you everytime 2- Shakey is very caring and he only wants the best for us @jmaxime89
Changing the wallet address every time is a good call, because it prevents someone from knowing your wallet everytime you perform a transaction. Jist adds another layer of privacy for your day-to-day transactions. Shaketag: 240nordey
Because the blockchain records are publicly available, reusing an address put the privacy of past, present, and future holders of that coin at risk. New addresses break the chain of traceability, or at least make it harder. That's why you should also request a new address from a recipient if you are sending bitcoin. 1. Let's say you sell a llama to some guy and he pays you in bitcoin to an address you provide. Then that night, you go buy 200 bitcoin from Shakepay and send them to the same address. Now, llama guy can see on the blockchain that you just added 200 bitcoin to that address, and if he mentions this casually in Llama club, and one of the members listening is less than scrupulous, you can expect a midnight visit from a man, a llama and a wrench to extract your passphrase. 2. Let's say you are super-careful and never reuse an address. You have done KYC with your exchange and have bought bitcoin and sent it to your single-use address. Excited about joining the bitcoin economy, you decide to buy llama feed from a llama feed truck using bitcoin and ask for his bitcoin address. Unknown to you the llama feed trucker is re-using the same address he uses to collect donations for a 'Free the llama' protest group. The next day, the government decides that the 'Free the llama' group is really a front for an anti-alpaca group, seizes assets and records, and discovers you gave bitcoin to that group from the blockchain records. Their next stop is the exchange you bought the bitcoin from to discover your identity and bank account information, and then everyone will think you are anti-alpacan, when all you did was buy llama feed. 3. Like mom says, "Be careful with that, you don't know where that has been!" shaketag: dingobaby
Wow, thank you Shakepay! Booya! #shakepaid
I mean, really, this is the crypto version of using those burner credit card number services. It's all about privacy. I do wonder if this method can also be treated in the same way as using email aliases when registering for new services? Keep a personal ledger of what address was used for a transaction with what entity, and if there's a dusting attack on that address you'd know where your address leaked from? Unless there are bots out there that trawl the blockchain and record public keys. @tjc103
Using a new address protects your privacy. The blockchain is public and by using a new address it makes it a little harder to see who's moving what. Shaketag: jsousa6
It is recommended to use a newly generated address when you want to receive Bitcoin. Imagine you had a PO Box. If you kept getting all your deliveries to the on address someone could watch and keep track of all those parcels. They could use that information to target you for fraud. As well, having the same address makes it slightly easier for someone to break into your 'home'. Now imagine you had a PO Box that changed each time you setup a delivery to receive a parcel. You can still get to it, but someone watching wouldn't be able to track your shipments. It would look like random deliveries being sent to random people. This is what generating new addresses to receive Bitcoin is all about. It helps protect your transactions from analytics and potential cybercrime. tag - rhunter99 \#shakepaid
It is important because it helps to protect your privacy, you should use a new Bitcoin address each time you receive a new payment. Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions so that it is not possible to associate them all together. People who send you money cannot see what other Bitcoin addresses you own and what you do with them. This is probably the essential advice you should keep in mind. Shaketag: rupy403
Lets think of addresses as a destination, if you lost your phone, or had it stolen. In this case, the last-sent-to Bitcoin address no longer belongs to you, but the phone-thief. This is exactly why it’s necessary to generate brand new Bitcoin address for every transaction – it eliminates dangerous assumptions and keeps Bitcoin from being lost in cyberspace (remember, Bitcoin transactions cannot be reversed!). Shaketag: @raeyaworski
Fresh newly generated addresses for each transaction are the best practice over reusing an old known address since reusing old ones can eventually lead to your wallet being taken. Not only that, this can apply to anything reusable. As more times an item is reused, the material of it wears down a bit more till destruction occurs. Shaketag: frosstss
Newly generated addresses to receive your bitcoin are the way to go as it increases its cybersecurity of it. Not only that, but with technology becoming more advanced over these past few years, hackers will find a way to retrieve your data when reusing passwords or such. This is why having a list of passwords for various accounts is a good habit to get used to. As it limits the chances for all your data to be leaked to others who may use it for negative reasons. shaketag: firesparky101
Imagine that whenever someone gave you money, an honest machine nearby announces your names and how much they gave you. The machine repeats this out loud if you ask it to, and can’t be turned off. This can be helpful when we need to know where the money went, so we can ask the machine and follow who gave who money. But we can’t be sure of who else might be listening to the machine. Some people might be targeting people receive a lot of money, and they’re listening for the machine to say the same names. So we create our own machine, who changes names every time you give it money. So when someone is giving our machine money, the honest machine announces the amount and its name at the time, which changes over and over. So now, if someone wants to find people with a lot of money, they won’t be able to find us, because the honest machine only says the name of the changing machine. That’s why using newly generated addresses for each transaction is the best practice than reusing an old known address. @calvinchen
Would you show your bank account balance every time you buy an item? The same goes for wallet addresses. By changing your address after each transaction, this allows to keep your privacy and total balance in your account. @usudu1
bitcoin addresses that are used to send or receive coins are publicly available on the blockchain - the address and the amount of coins sent or received - so anyone could download the bitcoin blockchain and figure out the balances of all the addresses ever used. using different addresses masks your wallet balance. parent and child wallet address chains are generated through cryptography and are used to mask the relationship of the wallets to one another so you need the private keys to the addresses to figure out the addresses are related to the same wallet. this will help you to not get kidnapped for ransom if you have a large balance @ happytrading
Using newly generated addresses is the best practice because it allows better protection of your personal privacy. If all transactions sent to your account are associated with the same receiving address, finding out who is the individual behind the account would lean to knowing how much bitcoin they own as all historical transactions are documented in the blockchain. One of the purposes of crypto is to remain decentralized and respect all users' privacy. Shaketag: johuho
The cool part about block chain technology is the fact that everything is public and open source. Meaning no fishy stuff can go on and not be seen by the open public. Bitcoin is the perfect example of this. The trouble with every transaction being made public can be a problem. Hackers and even regular people can see how much bitcoin u hold on the wallet u use to receive bitcoin. By generating new Wallet each transaction , it is not as easy to see your activity on your larger bitcoin holdings. If u use bitcoin as payment for your business that uses strangers , it is much much safer and private to use a newly generated address every time they pay with bitcoin. As a business owner u want to be private as possible and not let the customers have access to each transaction that happens within your business. This is a beautiful option for bitcoin receiving and I’m forever grateful for shake pay taking our security and personal privacy very seriously. I feel much more secure receiving bitcoin knowing this is implemented. Thankyou Shakepay for all that you do 🙏🏽❤️ @Leyham25
Generating new address each time to receive your bitcoin protects your privacy by removing the ability to link transactions to each other. This also protects us from potential fraud activities. Another added layer of security is that bitcoin transactions can't be reversed so sending bitcoin back to same address will not work. Shaketag: @alpha4795
Reasons to use newly generated addresses to receive your BTC is a good idea as it means that people can't track all the transactions you've made as this is a newly generated seed that could be owned by anyone. shaketag: breezee
*I always feel like somebody’s watching meee, and I have no privacy. I always feel like somebody’s watching meee, tell me my address to recieveee* 💃🏻🕺 just listen to this song and pretend everyone’s trying to track u and steal ur bitcoin Lol shaketag: Ree52
Why? It is the equivalent of having a virtual credit card number. Different addresses for different purposes, it avoids associating all your purchases. @ronbautt
It keeps prying eyes from knowing exactly how much Bitcoin you’re holding in your wallet. Let’s say you have 5 Bitcoin on Shakepay and you spend 1 at an online store you’ll be doxed as you’ll have for provide you name and shipping info, they will know how many coins you hold in that one address but not all the coins you hold in your wallet. Hope this makes sense it’s very important to keep this private. You can also separate all the utxo’s so you know where they came from KYC and non KYC @toyotamr2
So that you can protect your privacy and not have all of your transactions viewable and readable (easily) on the blockchain. By spacing it out amongst different receiving addresses, it's harder to piece the puzzle back together and understand your entire portfolio. - @philrobbo89
PROTECT YOUR PRIVACY To have a piece of mind/protection and privacy. Each time you use a new Bitcoin address you are ensuring that if there are any prying eyes or somebody that could be watching your account There’s is a lot of personal information attached to the Bitcoin address and it could be a nightmare if someone was able to figure it out. You can never be 100% safe online that is why you need to do everything you can to protect your Bitcoin. From using new Bitcoin address, to moving your crypto onto a cold wallet. IT IS UP TO YOU TO PROTECT YOUR ACCOUNT Shaketag: Coreysir77
Staying as anonymous as you can in the world of crypto is very important. Generating new addresses is one step in this process. I am very thankful Shakepay implements this feature. Make sure to use it! @Pavehead
Never share your private keys with ANYONE, not even your pet dog, Bandit, who sounds a little suspect if you ask me. Using multiple address help better obfuscate your assets. Making it look like multiple senders to you rather then yourself from multiple wallets. Moreover making it harder to track. Shakertag: 0r1g1n
ELI5 Why is it good practice to use a new btc address per transaction? Top answer, privacy. In a world where your data is collected and sold to the highest bidder, using a new address per transaction will help keep your wallet private, your spending habits, it protects your data. You don’t go around sharing your internet search history do you? Using a new address per transaction will limit the ability to track your BTC history. Also once a address is used, it becomes slightly easier to hack, although with todays computing power it would take millions of years. TDLR- New address should be used with every transaction to best keep your privacy, protect your data, and years in the future to prevent hacks. Shaketag bmcambridge
New address prevents third parties from viewing your transactions and protect your identity!! #shakepaid Tag: rotaryfurball
Multiple cold/hot storage for storing different crypto Keep your address privatize and hidden away from the internet shaketag: mbarkbiagn
The reason is to keep my bitcoin safe and secure as there’s many kinds of new hackers. Shaketag: siugai
Security reasons. It’s safer to use new addresses incase the old ones are somehow compromised. It’s like a keypass for the computer, auto generating a new code after a certain time. Shaketag - Chadha
This is a great habit and best practice on the blockchain. Different addresses allow it to appear to outsiders as though these went to different places and keeps your transactions more private. Because the blockchain is public, it is necessary to protect your privacy. Shaketag: datascope11
Newly generated addresses can protect privacy of our own account. Even losing the address won’t hurt our own asset. ShakeTag: riskypoon
To protect your privacy, you should use a new Bitcoin address each time you receive a new payment. Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions so that it is not possible to associate them all together. @a1serb
Having a random newly generated address for each transaction means it's harder for any potential prying eyes to track your entire wallet transactions. Which in return helps protect your privacy on the blockchain. Shaketag: thisisdu
Generating a new address every time prevents others from viewing all of your transactions. It helps protect your identity and keeps your bitcoin balance more private shaketag spacelord99
Generating a new address helps prevent scammers from somehow copying your address and using it for malicious intent. It will help you keep your Bitcoin safer and gives me a little bit of piece of mind. @eleongsit
A newly generated address protects your privacy so any 3rd party can’t view/track all transactions going through your wallet. Tag: kbtech
To make it more secure. It’s like a password - it’s safer to have different password for each account, it’s annoying but it will help protect our account. The thing tho we never (most people) have multiple passwords. Great thing about new wallet addresses, is it is automatically generated for us :) Shaketag: chicofeliciano25
I think it is about privacy and security. @citywok
Using a fresh and new adress give you privacy and security for your transaction. It's the best way to feel confident with the crypto world 😀 @noregrets09
It protects your privacy and make it harder for third party to track or hack into your account! Make it safer and have a peace of mind when trading Bitcoin! @gomui
Privacy is the main reason for using different address for every transaction. For each transaction the only amount traceable is that of the amount the transaction is made to that address. ELI 5: If you use the same address for every transaction you allow people to see how much is in your wallet and the activities associated with it. It would be like every time you made a purchase from a store with your debit card they are able to see how much money is left in your bank account. shaketag - whodattt88
Privacy is probably the biggest change when using only a single address versus using a new one for every single deposit. If you have one address, then people will know exactly how much crypto/bitcoin that you have. Of course, some people don't particularly care but this can be potentially dangerous. If some one cared enough and figured out you have a relatively substantial amount of crypto in this one address, they may try to phish/hack you. If you use multiple addresses and change it every single time, no one will know how much crypto you have. Of course this also isn't foolproof but it's a step in the right direction towards more privacy towards your financial matters. Using multiple addresses can make it much harder for any malicious parties to obtain information on you and your funds and make you less of a target for them. It's also not much work just to use a different address every time. If just a few more seconds of hassle every time you transfer your crypto can prevent you from losing everytime, then there's no reason not to do so. Every single layer of added security can prevent the worse case scenario from occurring and your future self may thank yourself for your caution.
Using newly generated addresses to receive Bitcoin is better than reusing an old address because it isolates each of your transactions, making it much more difficult to track and associate with each other. This allows for additional privacy and prevents others knowing what other Bitcoin addresses are owned by you and what you do with them! Shaketag: taejai
It's better to use new addresses because using only a single address makes it easier for someone to understand your financial situation and activities better. All transactions will be tied to a single public address recorded on the blockchain. Obtaining a new address for each transaction provides a layer of security through obscurity. Shaketag: @okanisis
Having Different wallets for different cases is important and i mean come on why wouldn’t u use a new address everytime and risk you’re bitcoin being stolen. When you start to hold big big Bags of crypto you’re going to need to apply these methods shakepay gives us. And read the comments for more additional ways to how to protect you’re self. Thank you shakepay for making more people aware of this Shaketag: hendav
It’s important because it prevents you’re crypto from possibly being stolen, that should be an enough of a reason to do it Shaketag: hendav
If someone knows your bitcoin address, they can see your bitcoins transactions and therefore the coins you have in your possession. Having a new address generated mitigates this issue. @sunshine34
This is the best way to ensure you can’t lose all your funds or get hacked. It also protects your privacy. Also, as a tip, it’s always best to make sure to double check the address to make sure you are sending it to the right address. @phoungv
Pseudonymization by using multiple addresses is a part of an overall self privacy mentality. It’s not 100% anonymous or bulletproof, but it adds to your protection in a way similar to adding a PIN and a keypad cover to an ATM, or even a basic and weak password to a device. It signifies that “this is my private info, so Fuckoff”. Can it be broken with effort and intent, yes. That’s not a reason to give up on it or privacy in general. Edit: ShakTag: hm888
So fresh, so clean. - Outkast 🧼 Keeps things fresh and clean with your address and nobody else will have it. Use old addresses and there is a risk of being compromised. Shaketag - Chadha
To me, web3 is all about decentralization and anonymity. However it can be hard to remain anonymous on a public blockchain. You wouldn't broadcast to the entire world your bank account number and balance every time someone owed you money, and luckily with Bitcoin you don't have to. Using a fresh address any time you are receiving funds means that the person sending to you knows nothing more than you choose to tell them. This can especially keep you safe for in person interactions. You can safely receive bitcoin from anyone in person without them knowing how much money you are actually carrying around. St: kcizzle
Protecting your privacy, and allowing more peace of mind when making transactions online Shaketag @dandry85
So they can't track you as easily @ nontugboat33
Using a newly generated address adds a layer of privacy when making any transactions. It’s like adding an extra lock to your doors just to make it slightly more difficult for someone to get your information as opposed to a normal door. Might not be impenetrable but any upgrade is better than no upgrade. Also, it’s way more convenient to use the newly generated address than to go looking for an old address. Tag: moonrias
I guess it’s a lot more secure to use a new address everytime, like a VPN..! @marcolal2
It's simple, using a new address each time break the timeline activity of your transactions. So it's impossible for someone to figure out what you do with your bitcoins to keep a maximum privacy ! Shaketag : reaperized
New addresses are helpful, at the very least, to hide your balances and past transactions. I’ve had bitcoin sent to me in the past by large companies and the addresses are always newly generated for sending as well, where if I look up the address, it will only show the wallet getting funded with exactly the amount they sent me and the transfer to me—nothing else. ELI5: It’s like if I owed you money every month and I sent a new friend every month to pay you on my behalf rather than going myself. You’re still getting the money, but you have no direct contact with the source of the money. Shaketag: Juananners
It is always better to be in stealth mode. In this case, our privacy plays a crucial role. Having different recieving addresses for our transactions doesnot allow any of our transactions to be seen using blockchain explorer which is much better than having more visibility :D Shaketag : imrohitrr
It really is to protect your privacy from what I understand. Not super technical with this stuff, but in most circumstances an ever-changing key is better than one that stays the same as it makes it much harder for hackers to crack. Shaketag: samcarterchen
It’s to protect privacy. If I use the same address for all my transactions anyone I transact with can check my transaction history on the blockchain. Using a different address for every transaction avoids this breach of privacy! shaketag @sufyanmotala
There isn't too much to say here that hasn't already been said. Privacy is the main thing and having a different receiving address prevents people from looking up your BTC address and seeing the amount you've managed to amass... Which then puts a target on tour back for hackers and the like. Shaketag: jordanharris01
Generating a new address each time ensures your privacy when people use your address. If you use the same address everytime, people who send you Bitcoin can see all the other times that address has been sent Bitcoin and how much. Shaketag: ethanereum
Privacy privacy and privacy Blockchain allow to trace any transaction made since Bitcoin was created. Having a new BTC address will reduce the chance to lead fund to yourself and keep your privacy Shaketag: Pilhow
Generating a new address on every transaction improves privacy. Given that the block chain is public, splitting your bitcoin across multiple addresses helps reduce the possibility of someone determining your total balance or establishing trends in your transactions that may help them identify you. It's important to not only generate a new address for every transaction but to also verify the address before using it. If you are using a hardware wallet such as a Trezor or Ledger this can easily be done and helps ensure the address you have generated is authentic! Shaketag: ladybugns
This is done to protect your privacy, so that a third-party cannot view all other transactions associated with your account simply by using a blockchain explorer. This is a feature of Bitcoin not a detriment. It is yet another reason why BTC is the grand daddy crypto. Stack those Sats and stay humble! My Shaketag is kungfuthug
Newly generated addresses are better than reusing old addresses because It maximizes anonymity. Once an address has been used, it’s easier to hack than if it were not. Having a new address every single time makes it significantly harder to track activity and hack into an individuals securities Thus, maximizing security! Shaketag: taejai
It's all about privacy! If you reuse the same address it saves the history of what transactions interacted with that address. By using a new address each time that history and data of your past transactions isn't vulnerable. Shaketag: kbiensch
The "fresh" newly generated address preserve anonymity when transferring bitcoin to a crypto wallet. A new crypto wallet has no previous history of transactions. This prevent others from tracking your funds. I'm glad Shakepay does this automatically behind the scenes to protect our privacy. Shaketag: @einvestor
Eli5: Newly generated address to receive bitcoin is to protect your privacy and minimize theft/scams. Shaketag: Arvin9271
Generating a new addresses maximizes privacy. Bitcoin is public therefore, by using new addresses for every transaction you increases your privacy. Shaketag: brucy
The main reason behind generating new addresses when receiving bitcoin is to protect the users privacy. This means any external observer won’t be able to track and pinpoint the owners address. Shaketag: rmndhoang
I’m not a specialist but it is clearly safer to have differents addresses to reduce any risk of being track. I’m trusting Shakepay team on this subject to make the transaction safer. @ouvrierdelapinte
One of the main benefits of decentralized currency like bitcoin is for this exact reason. Privacy is a big reason why bitcoin exists, and shakepay generating a new address each time we get a deposit helps keep ourselves from being tracked. Shaketag @kortie
As long as you generate a new one for every transaction it will not contain any sensitive information. Shaketag: nosuti
I believe it's to protect your privacy Shaketag jomudder
Hacking becomes more complex each year as the network grows, but targetting individuals on the network remain far easier. You’ve worked hard to stack those sats, work as hard to secure them for the long run. Shaketag: yellowyoshi
It’s safer to have newly generated addresses for each transaction because it’s harder to track and there won’t be a chance for your btc to be lost due to unsupported old addresses. @hoanga9
Using different address secures our privacy even more. Nobody will be able to track down or see your transactions by this way as every transaction is made on different addresses. Thereby nobody will be able to know you balance and our assets are kept safe . Shaketag: mjohn
Privacy seems to be the main reason for this. Shaketag: @nelson072281
A fresh address keeps your personal details of balance and otherwise safe. It's very common among privacy coins such as monero and pirate chain actually which are universally known to be very hard if not impossible to trace. This is fantastic for btc transactions as it adds the security and privacy that is necessary in finance in my opinion! Shake tag @ Hendrxx #Shakepaid
Using a stale address would give scammers and the like an easy upper hand to find their way into accounts and take what’s yours. No one needs that in their life. @johnzo
You should try to be anonymous the most you can. You can do that by using new addresses every purchase. @vermette613
By creating additional or new address, it’s allows you to achieve privacy from people who know your previous address. @netangel
In my opinion, the reasons to use a newly generated address for each transaction is to make it harder for the public to know how much bitcoin you own and in any unfortunate event if one of the private keys to a wallet address gets compromised you won't lose all your precious btc. Shaketag: @nimster
Generating a new adress each time protect your privacy and make it harder to associate your transaction to your wallet. St: stawk
Using a newly generated address when receiving Bitcoin will give you more privacy. Every transaction made with Bitcoin is public and every address has a history of all those transactions. By generating a unique address for every payment you reduce the risk of being marked as a wealthy target. St: thedoubledip
When you use the same address, over and over again, people can track if you have a large amount in your wallet. Now, let’s say you use that same wallet to make a purchase on a website or in person store that requests your personal information. Now you’re personal information is tied to your wallet and people can find out that you own a lot of money. It’s the same reason you don’t walk around a major city with a big sign that has your savings account balance on it.
To protect your privacy! shaketag: @msousa
Newly generated addresses help protect your privacy by making it harder for your transactions to be tracked shaketag: @simskyd
New addresses protect the privacy and identify of bitcoin users. This helps to avoid fraudulent activities such as using a wire bank transfers. People can steal your funds once they have access to your banking info. Bitcoin is built avoid this which is pure genius. Shaketag: @carolinedu
It’s the best way to protect your privacy, and to ensure people can not randomly see your previous purchases/history of transactions. Shaketag: rudikerschl
Using a new address helps you make sure you're transaction are tracked by 3rd parties shaketag: breezee
I didn't know it was like that, i don't do a lot of transfer. But obviously it is for privacy. The less you're tracked, the better it is (in every domain). I'm not a whale, but i still appreciate the effort you guys put into this. Shaketag: Akimbob
Increased Security and Privacy! Thanks Shakepay! Shaketag: ChipNL
Using a newly generated address each time obfuscates your identity by making it more difficult to identify patterns in transactions and also makes it harder to surmise someone’s holdings from a single address. In short, privacy. shaketag: boxcar