Setting up the Single Address Feature for your Husky Wallet
To protect your privacy, the BitPay App generates new addresses for your wallet automatically after you use a bitcoin (or bitcoin cash) address one time.
All bitcoin and bitcoin cash transactions are public, traceable, and permanently stored in the blockchain. For these reasons, bitcoin and bitcoin cash addresses should only be used one time and users should not disclose their addresses. When addresses are re-used, they allow others to more easily and reliably determine that the address being used is yours.
When creating a new bitcoin or bitcoin cash wallet, you have the option to enable the single address option. The single address option can only be done when you first create a wallet. An existing multiple address wallet cannot be forced to use a single address. In other words, a standard wallet cannot be converted to a single address wallet.
The single address feature will force the wallet to only use one address rather than generating a new address each time. This can be useful for donations or other scenarios where transparency is important.
Some use cases where transparency might be relevant:
- Private Equities