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Noerms

About non KYC Bitcoin…

Is it ok to create a second account in ledger live to store the non kyc coins?

I am not talking about creating a second seed but an additional account within one seed.

Or will this still be linked if i store kyc coins in another account on the same device? 🤔

Séimí Mac Síomón 2y ago

The UTXOs are the thing to keep separate, as this is what is used for chain surveillance.

If this separate account generates separate addresses that never interact with the KYC addresses , then this is acceptable as far as I'm aware. So long story short, yes. Once you get your new hardware wallet ,coldcard for example, it will be easier to implement what others have suggested here, ie. custom derivation , passphrase.

I personally think a custom derivation is unnecessary and complicated, a simple passphrase is more than sufficient in order to separate funds.

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Discussion

Noerms 2y ago

Thanks mate 🙏

How can i be sure the utxos don’t interact with eachother?

Will it help to set the second account differently ? Like first one native segwit and second taproot for example? 🤔

Séimí Mac Síomón 2y ago

No problem , I'm new to all this too .

The way to keep UTXO's seperate is simple :

Make sure they are never used as inputs for a transaction along with KYC UTXOs.

I wouldn't recommend Ledger for this because I don't think they allow a lot of control over which UTXOs get used in a transaction.

If you send funds from a ledger "account" does it only use coins from THAT account ?

I'm not so sure actually .

Noerms 2y ago

They say they generate independent xpubs for each account:

https://bitcoin.stackexchange.com/questions/109536/are-transactions-from-two-separate-bitcoin-accounts-on-ledger-nano-s-independent

Séimí Mac Síomón 2y ago

That's definitely working in your favor, but I wonder for example if you had 1000 sats in one account and 1000 in another and you went to send 1500 from your ledger would it "cross over " and use utxos from both accounts to complete the transaction. That would be a BIG no no.

Noerms 2y ago

No, i don’t think that’s possible, because you need to choose the accout you want to spend from and if theres not enough funds in it you can’t do it

Séimí Mac Síomón 2y ago

The I'd say that all looks goods. Just keep funds (utxos) in separate accounts and only spend from those accounts accordingly .

Noerms 2y ago

I hope i can buy a second HW soon. This should be just a temporary solution 🙏