Busha Weekly 29th October
Busha isn’t just another cryptocurrency exchange. We’re also here to educate the public and propagate the truth about cryptocurrency. To that end, here’s an educative piece on the proper care of your wallet address.
Handling your Cryptocurrency Wallet Address
The security and privacy of your digital assets and transactions are some of the major reasons cryptocurrency was originally developed. Here are a few tips to help keep your crypto assets secure:
1. Always generate a new wallet address for each transaction.
Although every wallet address our system generates is linked to your Busha wallet, you shouldn’t treat the address as an account number. Each wallet address should rather be taken as a reference number that helps you keep track of your transactions. Using a different wallet address every time ensures that your transaction is kept secure and private so that a third party cannot trace your transactions on the blockchain.
2. Check that the wallet address is for the cryptocurrency you want to receive
It is very important that the wallet address you’re sending matches the cryptocurrency you wish to receive. On Busha, you can receive five cryptocurrencies — Bitcoin, Ethereum, Litecoin, Stellar Lumens and SureRemit. All these run on different blockchains so ensure you generate the right wallet address so that your assets don’t get lost permanently.
3. Copy and paste the wallet address or send the QR code
To ensure that you don’t make a mistake while typing or writing out your wallet address (as it can be quite lengthy), just tap on the “Copy” icon beside the displayed address. This will automatically copy the address and you can then paste this where you want.
4. Track the transaction on a blockchain explorer
When you get notified that the cryptocurrency has been sent to your wallet, you can verify this by checking the progress of the transaction on a blockchain explorer. To do this you need the wallet address or transaction hash. This will show you the number of confirmations the transaction has. Busha requires only 3 blockchain confirmations for your coins to become available in your wallet.
Hope you learned a thing or two! Our learning portal offers you more educative articles.
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