So I can just generate an address the same way I would if I were to receive sats from Strike, and then send my bitcoin from my jade to the address I generated, and I will efficiency send my sats from one address on my jade, to a new address on my jade? I’m probably mansplaining this but I am really not super savvy with this
Discussion
Yes.
Can you mansplain to a man? 🤔 idk
But so you understand. I’m assuming that you are using segwit. You have a “prime” wallet address (xpub) and you can derive millions of addresses from it. All of the different addresses are yours.
Check it out and hit receive in your wallet. Close it and hit receive again and notice that it is giving you a new different address than you got last time. It’s still all variations of your wallet address. This gives you a measure of privacy. If someone gets a hold of your xpub then they would know every single address tied back to your wallet.
Consolidate your UTXOs to a new address in your wallet but be aware that it is now super easy to see that new address has X amount of bitcoin. This is why people generally create several large UTXOs that each are associated with a different address in the same wallet.
In the future just DCA in strike until you have a decent amount and then transfer it to your wallet to keep larger UTXOS.
Does this make sense? Hard to explain via text
If you can’t figure it out then just send your bitcoin to me and I’ll hold on to it for you. When you want it back just let me know and I’ll send it to you
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Doesn’t really avoid the double fee problem either though. 😂
But he gets an expert to safely hold his coins for him. Just like FTX