Coin Control, Now Available in Ledger Live | Ledger

Coin Control
Ledger Live adaptation 2.11.1 brings yet another herculean feature to its arsenal with Coin Control. You can now set up your Bitcoin ( and derivatives ) transactions up the way you want to through it .

More Power over your Transactions with Coin Control

At Ledger, we are constantly looking at interesting, mighty and popular features that are desired by the community to integrate within Ledger Live. yesterday ’ second Ledger Live interpretation 2.11.1 release didn ’ t only add a native Algorand integration – it also added the much anticipated Coin Control feature for Bitcoin and its derivatives! This allows you to set up your Bitcoin transaction precisely the way you want it, choosing for optimum tip use or possibly opting for privacy rather .
This feature that specially caters to advanced users ’ desire can nowadays be used by going into “ Advanced Options ” when creating a Bitcoin or derivative transaction. You can read more about how to use it here .

What is Coin Control?

Coin restraint is an advanced feature of speech for Bitcoin and its derivatives. This feature lone exists for these cryptocurrencies, since they make use of Hierarchical Deterministic ( HD ) wallets. This means that a single Bitcoin history in Ledger Live manages a battalion of different Bitcoin addresses.

Before nowadays, Ledger Live would choose to use your oldest received coins for a new transaction, meaning it would use them on a First-in, First-out ( FIFO ) basis. These previously received coins are besides known as unspent Transaction Outputs – or UTXO in short. Coin Control gives you more option in this. When you are creating a transaction through Coin Control, you will now be able to manually pick which addresses and UTXOs you want to use for compiling the transaction. With this update, we ’ ra giving you more power and see over your own funds – a tendency that we intend to expand on even further .

Why does Coin Control Matter?

There can be a large kind of reasons as to why person would want to pick the addresses they ’ d like to use .
first, it adds protective covering against a likely privacy threat known as Dusting Attacks. In this, you ’ five hundred meet bantam bits of BTC. This bantam total would then be tracked, which could potentially through exhaustive analysis find out the identity of the owner. With Coin Control, you can just choose to not use this bantam unspent transaction Output ( UTXO ). As such, they can not track any movements. In short-change : it can be a game changer when it comes to your privacy.

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equally a big bargain, you can choose the mint excerpt scheme for reducing the fees you’d need to pay. By choosing UTXOs with a higher value rather than the oldest ones, this scheme is able to reduce the byte size of your transaction. This would optimize the network fees to pay .
last, you can now choose what you ’ d like to use a specific Bitcoin address for. Let ’ s say you ’ ra running a blog and are open to receiving Bitcoin donations. You could opt to share a individual Bitcoin address for this determination. With Coin Control, you can access and make transactions strictly for this particular address, not revealing others linked to it in the process.

Better Clarity on Replaceable Transactions

Another addition to enhance awareness and security is that Ledger Live will now differentiate between unconfirmed incoming transactions that are pending, and ones that can be replaced through Replace By Fees ( RBF ). The latter will now be referred to as a “ replaceable ” transaction .
This grants our users better visibility on the status of incoming transactions, and will make them less probable to fall to a specific kind of phishing through social engineer. As a admonisher : it ’ randomness best practice to consider a transaction as “ not however received ” until it is confirmed .
Coin Control is the latest have to be added to Ledger Live – a knock-down asset in the extensive armory that Ledger Live provides. We ’ re constantly looking into which new and useful features our a lot beloved residential district is asking for, and Coin Control was decidedly high up there. Thank you everyone for your feedback, it is much appreciated and helps us to make Ledger Live even better for all of you .

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Category : Finance

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