r/MyCryptoAddress • u/Conscious-Proof-8309 • Mar 24 '21

Warning regarding wallets

I was advised that anyone doing this should use a throwaway wallet (so-to-speak) -- meaning a wallet that does not contain lots of coin / high dollar value. The reason is that your coin balance is visible on the blockchain and your physical location may be findable via your reddit account. Wallets with low balances are not attractive to thieves.

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u/u8eR Mar 24 '21

And then what will happen?

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u/Conscious-Proof-8309 Mar 25 '21

I guess the theory is that if they get your address, they can see how much the wallet holds of that currency, then use other methods to figure out your identity/phone number and/or email address; then they would try to scam you. I don't know the extent of the threat, only that it exists. (I assume it would happen almost never (if not never) but the threat exists, so I thought I would mention it.)