Sunday, 18 April 2021

Is there any reason to use a "Savings" and a "Current" wallet, instead of only 1 that always generates a different receive address?

I'm a beginner in crypto and I've been using 2 different wallets; a "savings" one on my computer with most of my coins and a "current" one on my phone which I use when I want to trade.

I've only made a few transactions so far, but still my "savings" one has never been involved in trading with 3rd-parties. Once I purchase more crypto with my "current" one, I transfer them to my "savings".

I'm doing that for the sake of privacy, but I just read about xPub's and how I can generate as many receive addresses as I wish. I didn't know about all that, as my wallets are very simple and I just use whatever QR code is generated each time, not really paying attention to the actual letters/numbers that come with it, so I really don't know if there were different ones each time.

Anyway, if my "savings" one can generate a new address each time I wish to receive crypto, can I just retire my "current" one and only use my "savings" one from now on. Reason why I'm asking, is cause I mostly wish to avoid the transaction fees (which will accumulate over time) I pay when I move crypto from my "current" to my "savings" one. (And the time I have to wait while crypto is transferred from wallet to wallet.)

I'm guessing, if I can generate a new receive address each time, my privacy is protected and I don't need a "current" wallet. What do you think, am I missing something here?

submitted by /u/BinanceFly364
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source https://www.reddit.com/r/btc/comments/mszrbm/is_there_any_reason_to_use_a_savings_and_a/

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