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42 sats \ 1 reply \ @fanis 7h \ on: KYC / NON-KYC Coin Control Question bitcoin_beginners
I think in most cases the best way to go around this is to use separate accounts (e.g. different derivation paths). Sparrow lets you do that pretty easily.
If open your current wallet and head to the "Settings" tab, you'll probably see under the Keystores section that your derivation path is something like m/84'/0'/0' (could also be something else depending on your setup). Using the same seed (eg the same hardware wallet, if you're using one) you should be able to create a new wallet, and specify a different derivation path (eg m/84'/0'/1'). You can give it a clear name (like "KYC wallet") for future reference.
You now have 2 different accounts, backed by the same seed, but from which you cannot accidentally spend in the same transaction.
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0 sats \ 0 replies \ @PictureRoom OP 1h
Wow, this is super helpful, thank you. I had no idea that I could do that in Sparrow.
Could I also use this method when acquiring KYC bitcoin by sending it to a new keystore wallet within sparrow, and then transfer it into the main keystore? The reasoning I ask is with the intent of obscuring where that coinage has gone. Any additional help on good coin control is welcomed. I was thinking about sending to a phoenix channel wallet, then maybe sending that to cold storage on the newly set up keystore via sparrow.
I'm not sure if that makes sense, but hopefully you can steer me where I need.
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