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    Author Topic: Exchangers that encourage to generate multiple bitcoin addresses  (Read 178 times)

    • ningthemcha (OP)
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    February 15, 2018, 06:32:06 AM
     #1
    Dear frens,
    Today I had a transaction from Binance to Zebpay (India) but even after 9 confirmations, my btc still not credited to my Zebpay Account. I raised a complaint but still in pending.
    I, later, found out Zebpay encourages to generate multiple Bitcoin receiving Address. I used the same receiving address now I m stuck.
    Could anyone tell me why should I generate multiple addresses.
    Why can't I use my default receiving btc address for multiple transactions?
    Now I know such encouragement of generating new addresses are factors of btc Transaction congestions.
    Am I wrong? Advise me.

  • L A R A
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    February 15, 2018, 06:51:52 AM
     #2
    This maybe just a matter of time, you should be a little more patient to wait for your deposit into zebpay, because generate new address does not make your BTC lost, old BTC address can still be used to transact even if you have new address

  • vv181
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    February 15, 2018, 07:12:44 AM
     #3
    It could be the receiving address is only for the single used time only, that's why they told you to generate a new address. So The only solution is to contact the support center and ask for help, maybe they could help you to credit your account.

  • NorrisK
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    February 15, 2018, 07:19:24 AM
     #4
    Most exchanges permanently link the receiving bitcoin address to your account after assigning it. Looks like this exchange doesn't do that by default.

    Did you transfer the coins to the previously used address without checking it on their website? If so, I would advise to always check the address you are sending to matches the deposit address on the exchange to avoid these troubles.

  • Herbert2020
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    February 15, 2018, 07:50:22 AM
     #5
    it is all about address reuse (https://en.bitcoin.it/wiki/Address_reuse), read the reasons there.

    although i am not familiar with Zebpay but those exchanges that have the option to generate new receiving address for each deposit don't do it automatically. you need to do it yourself by clicking the button and generating a new receiving address yourself. and until you do that, the old address will remain in your account.
    even if you generate a new address, the old one will still be in their wallet. they may not bother with recovering it if you made a mistake but it should technically be possible to do so.
    Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
    Whales are those who keep buying the dip.

  • h0lybyte
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    February 15, 2018, 08:10:28 AM
     #6
    No, neither zebpay nor any other exchanges that encourage you to generate multiple bitcoin addresses can stuck the transactions while using different address each time. All previously used addresses will still be valid to recieve payments, encouraging to new address is just to keep you out of being traced, i am sure changing addresses can cause no issues to wallet service provider

  • shulio
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    February 15, 2018, 08:32:22 AM
     #7
    Generally exchanges creates new address after a successful deposit. But if you deposited to an old address, it should be accepted by the exchange and must credited to your account.
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