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Someone wants to add funds to my account. Please advise if it's safe to share my Monero Wallet Address with them.

My underlining concern is - can they withdraw funds from my account with my address?

Finally, what else can they do with it?

Thanks,

Mr Magic!

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  • This is very helpful! Thank you!
    – Mr Magic
    Oct 21 '20 at 7:27
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Please advise if it's safe to share my Monero Wallet Address with them.

Yes. It is safe to share a wallet address with someone who wants to send you money. If you don't give them a wallet address they cannot send you money.

...can they withdraw funds from my account with my address?

No. They would need your private keys (or your seed to restore) to spend your money. Your wallet address (or a subaddress) is only good for sending funds to.

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Yes it is safe. As far as I know, when you give someone your address they can not look at the blockchain and see how much monero you have or the addresses you sent it to.

However for more privacy it is recommended to create a subaddress for each party you plan to interact with. For example you can have one subaddress for each different exhange you deal with and each person you transact with.

This way it is harder for someone to identify your transactions by your address.

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Sharing your public address is safe, because the only thing someone else can do with use of it is send you money. On the other hand, if you sent them the private key, they would be able to see your wallet's balance or withdraw funds from it.

For extra privacy, you can generate subaddresses for all parties you interact with via Monero (this is especially useful if you want to make sure that these parties don't know that they've sent money to the same person).

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