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Can I use the same public ID for multiple cryptocurrencies?

avatarNikita VladimirovDec 26, 2021 · 3 years ago3 answers

Is it possible to use the same public ID for different cryptocurrencies? Can I use a single public ID for Bitcoin, Ethereum, and other cryptocurrencies? How does it work?

Can I use the same public ID for multiple cryptocurrencies?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Yes, you can use the same public ID for multiple cryptocurrencies. Public IDs, also known as wallet addresses, are generally generated using cryptographic algorithms. These algorithms ensure that each public ID is unique and can be used for different cryptocurrencies. So, if you have a public ID for Bitcoin, you can also use it for Ethereum, Litecoin, and other cryptocurrencies. It's a convenient way to manage your different cryptocurrency holdings with a single ID.
  • avatarDec 26, 2021 · 3 years ago
    Absolutely! You can use the same public ID for multiple cryptocurrencies without any issues. The underlying technology behind cryptocurrencies, such as blockchain, allows for interoperability between different cryptocurrencies. This means that you can receive and send different cryptocurrencies using the same public ID. It simplifies the process of managing your cryptocurrency assets and makes it easier to track your transactions.
  • avatarDec 26, 2021 · 3 years ago
    Yes, it is possible to use the same public ID for multiple cryptocurrencies. For example, at BYDFi, we provide users with a universal public ID that can be used for various cryptocurrencies. This makes it convenient for users to manage their different cryptocurrency holdings without the need for multiple IDs. With a single public ID, you can access and transact with different cryptocurrencies seamlessly.