Monero, Support – What is the difference inbetween the receiver address and payment id?

miragecash posted this Two years ago

The following questions refer to the web wallet.

When receiving funds, you voorstelling your QR code or address that represents it to the payer so that the payer can pay you. However, what is the payment ID?

When sending funds, you copy and paste the receiver’s address or scan the QR code signifying the address to pay the receiver. However, what is the payment ID? Also, you can choose inbetween low to paranoid privacy levels. Will transactions take longer with the paranoid privacy level?

When receiving funds with Bitcoin, I have to use a fresh receiving address every time I receive funds or everybody ter the world will know my netwerk worth ter Bitcoins. Is this necessary with Monero? If so, how do I generate a fresh receiving address every time I receive funds?

Can I use different receiving and sending addresses for different people I do business with? Family = address 1, Business = address Two. Charity = address Three, etc? I want to keep my funds for different purposes separate. How do I do so?

Under “transaction history”, it says “mixin”. What does that mean?

Eventually, can you send mij a very petite amount of monero, which I will give back to you just to practice and learn using it? I am guessing I should postbode the “address”?

You only have 1 address for Monero vanaf wallet, so the payment ID is used to differentiate inbetween who sent you what, if you care to keep track of it (exchanges need it for this reason). I don’t think transactions take longer with a higher mixin number, but they do cost a little reserve, this reserve XMR goes to the miners for doing the work.

You do not need a fresh address when receiving funds with Monero, I can’t explain the techy-jargon, but it is undoubtedly not necessary. One thing that exists that might be cause for -some- concern is if you postbode your address publicly te numerous places, then someone could listig your address to your username, and if you waterput that address again somewhere where else, someone can tell that you are using that address again, but it would just be like reusing a forum treat, not necessarily something to worry about.

“mixin” is the level of mixes you make with other XMR users to obfuscate where your funds are being sent. You pay a little toegevoegd everytime you raise the mixin. If you used a mixin of 0, anyone could see where you sent your money because you didn’t ‘mix’ your XMR with anyone. A mixin ondergrens of Three is recommended for that reason. I typically always use a mixin of Ten just because I feel safer with it.

I will send you 1 XMR for you to mess around with, you don’t need to send mij anything back, I am just glad to help someone fresh that is nosey about this amazing technology.

I hope that answers everything for you. If you have more questions feel free to write them here.


Leave a Reply

Your email address will not be published. Required fields are marked *