1

I have made 3 transactions of BTC to my Ledger Nano S device using Ledger Live. For each of these 3 transactions new receiving address was created for transfer. Ledger claims that this is done because of the privacy(https://support.ledger.com/hc/en-us/articles/360034336713-Receiving-address-changed?support=true). When I take a look at blockchain explorer I can see that there are those 3 addresses that received my coins and they don't have any outgoing transactions.

  • Am I wrong if I make the assumption that BTC is not actually in my wallet, but instead of these 3 wallets?
  • And am I wrong that those 3 wallets are not controlled by me, but are instead in control of Ledger?
1

1 Answer 1

1

Am I wrong if I make the assumption that BTC is not actually in my wallet, but instead of these 3 wallets?

Those three addresses will be belong to your wallet. A wallet consists of many secret keys and scripts. Thus, one wallet can generate many (unlimited) different addresses. But they still all belong to you.

And am I wrong that those 3 wallets are not controlled by me, but are instead in control of Ledger?

This is incorrect - all the secret keys to those addresses will be stored in your ledger hardware wallet and only be usable by you. That's the point of using a hardware wallet. Ledger has no access to your keys.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.