Blockchain

Why Does My Bitcoin Wallet Address Keep Changing? Bitcoin Wallets Explained.



00:00 Introduction
00:17 Common Questions About Bitcoin Addresses
01:10 The Reason Why Bitcoin Wallets Generate New (Unique) Receiving Addresses
02:26 Simple Example Wallet-to-Wallet (1 Unique Address)
03:43 Check Blockchain Explorer and only one transaction Shows up.
04:23 Your Own Wallet Can track ALL of the Receiving Addresses
04:54 Your Wallet will Continue to Generate the SAME Receiving Address until some Bitcoin comes in.
06:29 2nd Example: Using the Same Receiving Address Twice
09:04 Check Blockchain Explorer you can See Both Transactions
09:35 Check Previous Address and Still see only one transaction
10:22 So when Should You Reuse Bitcoin Receiving Addresses?
11:50 When Should You Generate New (Unique) Receiving Addresses?

Ledger Support Page about generating new addresses: https://support.ledger.com/hc/en-us/articles/360034336713-Receiving-address-changed?support=true

Bitcoin Protocols covering Wallet Addresses:
BIP32: https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki
BIP39: https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
BIP44: https://github.com/bitcoin/bips/blob/master/bip-0044.mediawiki

💰Set up a Coinbase account here and get $10 Free bitcoin💰
https://www.coinbase.com/join/kneisl_5

🔐 PROTECT YOUR CRYPTOCURRENCY WITH LEDGER NANO X/S 🔐
Order Here: https://www.ledgerwallet.com?r/6057

💲 OPEN A CRYPTO.COM ACCOUNT 💲
Use my referral link https://platinum.crypto.com/r/cryptodad to sign up for Crypto.com and we both get $50 USD 🙂
Or use the code cryptodad when registering. Thanks!

🥳Get a 30% Discount on a Koinly Tax Report When you Use My Link🥳
Sign up for a Koinly Account Here: https://koinly.io/?via=DDCB9CA6

!!👨‍💻 SET UP A BINANCE EXCHANGE ACCOUNT 👩‍💻 !!
For US residents: sign-up here: https://binance.pxf.io/Zd1rRK
Invite friends to Binance.US and watch the crypto roll in. Get 10 USD each when your friend completes $100 or more in buys and/or trades within 30 days of completing account verification.

!!👨‍💻 SET UP A BINANCE EXCHANGE ACCOUNT 👩‍💻 !!
For non-US residents only: $300 sign-up bonus if you use my link https://bit.ly/3z2oOiw

💎Sign up for a KuCoin Account Here: https://www.kucoin.com/ucenter/signup?rcode=24c5a27 💎
My Referral Code: 24c5a27

🤓CHECK OUT THESE GREAT LEDGER VIDEOS FROM CRYPTODAD!🤓

LEDGER NANO X HARDWARE WALLET SETUP GUIDE (LATEST VERSION 2021)

HOW TO RESTORE A LEDGER NANO X HARDWARE WALLET FROM YOUR 24 WORD BACKUP PHRASE (LATEST VERSION 2021)

HOW TO RE-INSTALL LEDGER LIVE ON A NEW COMPUTER (LATEST VERSION 2021)

Legal & Disclaimer Notice:
This video is provided solely for informational and/or educational purposes. It is not offered as advice (whether professional, financial or investment advice or otherwise). Investing in Cryptocurrencies is inherently risky. Never spend money on Cryptocurrencies you can’t afford to lose.

Legal & Disclaimer Notice: This video is provided solely for informational and/or educational purposes. It is not offered as advice (whether professional, financial or investment advice or otherwise). Investing in Cryptocurrencies is inherently risky. Never spend money on Cryptocurrencies you can’t afford to lose.

Social Media links!
Twitter: https://twitter.com/The_CryptoDad
YouTube: https://www.youtube.com/CryptoDad

#bitcoin #ledgernanox

23 Comments

  1. JohnDoge14

    I must say that this is a very well explained and very helpful, informative video that should be shared with the entire crypto (specifically bitcoin) community.

    Great job on this informative video cryptodad! Keep up the great work! 👍😁👌

  5. Paqua

    Thank you, that was very helpful! I do have one question though. Do other cryptos do the same thing? I have had some addresses generated by an exchange not match my receiving address when sending to a wallet therefore making me reluctant to send. I thought that before you send you should always verify that the address you pasted in to the exchange matches the receiving address in your wallet. If it changes is that a function of the exchange changing the address for your privacy or the crypto itself like what you pointed out with BTC? It has happened on Coinbase and Gemini a number of times when sending other cryptos besides BTC. Thanks so much for your expertise!

  9. Maxime Maurin

    Hi cryptodad, very helpful and well explained video. Though I'm wondering if it's possible to use a former receiving address that ledger live generated me like 3 months ago( like the old ones you show at 4:40)? Should I be able to receive funds? I assume it's possible but I would like your confirmation
    Thank you

  16. Steve Waage

    Thanks for doing this video! I have a Ledger and was wondering why it always generated a new address compared to some of my other wallets ( I had a suspicion). Now I know.

Write A Comment

Share via