I'm a bit of noob so I will apologize in advance. I'm reading people suggesting using different address every time I send an bitcoin. If I were to say send a 1BTC to someone I'd need to create a new address underneath my wallet and need to transfer 1 BTC from my other addresses and then send it to that address right? Wouldn't that kind of defeat the purpose of securing and also costly by paying extra fees? Thank you
2 Answers
You should use a brand new address every time you receive bitcoin, not every time you send some. You don't need to transfer your old bitcoin to this address, as you can make a payment that takes from as many addresses as you wish. Let's say Enk has sold some of his craft beer for 0.1 BTC, instructing the buyer to pay him to an address he controls, 1abc. Then, Alice paid him 0.05 BTC for the software he has written for her and he gave her another address in his control, 1efg. Now, Enk wants to pay Bob 0.12 BTC for the repair of his watch. He has to send it to an adress of 1XyZ The transaction his software will generate will take 0.1 BTC and 0.05 BTC as inputs, and 1XyZ as receiver of 0.12 BTC and another adress in Enk's wallet 1Cha as an output for 0.03 BTC that is left.
answered Feb 24, 2017 at 20:11
Address are similar in a way to your bank account number, it just says where your wallet is. It differs in the way that a bitcoin wallet can have more than 1 address. Personally, I am receiving bitcoin on 4 to 5 different addresses.
But I don't actually understand what you mean by creating new addresses to send bitcoin from, you only create a new address (or use an old one) when receiving bitcoin not sending one.
