Nostr Web Client

Replying to

Code & Psychology ⚡️

💡 BTC tip for the day 💡

If you have KYC-d btc on your cold storage:

1️⃣ Send btc from cold storage to hot wallet

2️⃣ Regenerate seed phrase for your cold storage

3️⃣ Do coinjoin/mixing with your hot wallet onto your fresh seeded cold wallet.

Benefits:

You will have forward privacy of your btc.

You break the link from your KYC to your btc.

You can use Sparrow wallet for this, because it has a Whirlpool feature in it, that can do the mixing/coinjoin for you.

Further steps:

Buy no-KYC btc, and do mixing on that as well.

BUB 2y ago

Sorry, not a good guide.

What's the purpose of regenerating a new seed phrase? If you do cold storage properly your seed is never exposed to a computer.

Reply to this note

Please Login to reply.

Discussion

Code & Psychology ⚡️ 2y ago

It depends in my opinion.

You do mixing to have forward privacy. So noone knows what you use your btc for.

You shall not reuse the addresses that you sent KYC sats onto. Otherwise mixing does not make sense. Because they already know that this address is yours due to KYC, so new sats also will be labeled on this address to you.

If you just generate a new address from same seed of cold storage or generate a new seed for your cold storage both could be an option. I think better to be safe, then sorry. If you generate a new seed, then you don't have any address kyc-ed generated from your seed, so you can't accidentally reuse it.

But you are right, it is not a must.

BUB 2y ago

Fair enough reasoning, but "not reusing old addresses" is implied and baked into any good wallet software.

Code & Psychology ⚡️ 2y ago

Thank you for the notice! Fair point. Next time in similar case I will add optional, and the reasoning behind the selection.