Introduction
We have a new update on bitoshi. You can now generate up to thirty (30) new BTC wallet addresses for receiving transactions from external wallets. The address format is the NativeSegWit.
How It Works
The multi-address generator may be simple but it is quite powerful. Users can create new addresses as needed. However, there is a caveat: a new address can only be generated after all previously created addresses have been used. This encourages best practices in Bitcoin usage while offering ease for various transaction scenarios.
Understanding NativeSegWit Addresses
These addresses offer improved efficiency and lower transaction fees compared to legacy formats, ensuring that Bitoshi users are always at the forefront of the Bitcoin network.
Key Benefits of the Multi-Address Generator
- Enhanced Privacy: Having new addresses for different transactions prevents the linking of transactions and balances, and this in turn makes it difficult for third parties to track one’s activity and maintain privacy.
- Ease of Tracking: With multiple addresses, you can easily track the source of funds and monitor specific transactions. This feature makes account management and financial record-keeping seamless, giving users greater control over your Bitcoin finances.
- Reduced Address Reuse: Reusing addresses can make your transactions more susceptible to analysis.Crypto experts suggest Using different addresses for each transaction is best for Bitcoin usage.
- Scalability: In scenarios with high transaction volumes, such as merchant services, having the ability to generate multiple addresses helps manage the influx of transactions more efficiently.
- Cost-Effective Transactions:NativeSegWit addresses typically result in lower transaction fees. This provides an additional economic benefit, making your Bitcoin transactions not just more secure, but also more cost-effective.
To maximise the benefits of this new feature, we recommend generating a new address for each incoming transaction. This practice not only enhances your privacy but also aligns with the ethos of responsible Bitcoin usage. Remember, you can generate a new address only after using all previously generated ones, so plan your transactions accordingly.
Where to Find the Feature
To access this feature;
- Login to your Bitoshi account
- Go to the external wallet section
- Tap on BTC and the “Receive” button
- A notification will appear promoting to scan a “QR CODE”
- Generate your new address
Conclusion
Bitoshi’s new multi-address feature is here to stay and it’s all for enhancing privacy and transaction management for all users.This tool allows for more effective and secure Bitcoin handling. Try it now in the app to experience improved control over your cryptocurrency transactions. As always we are committed to continually updating and improving your Bitoshi experience.
