Quote:
Originally Posted by FaceplantWizzard
Ive done a few test small withdrawals in the last few weeks. The money hit my bank account just fine. The issue im seeing is that Coinbase is not generating a new wallet address when I transfer from my wallet to my coinbase exchange. All three transfers had the same address. I thought there was suppose to be a new address for each transaction.
Is this normal? Am I at risk here? How do you get the exchange to generate a new address?
From what wallet to your Coinbase account? If it's from your PokerStars wallet, then you may have an issue. Novada needs new address for every withdrawal so I'll guess you're speaking of your software/hardware wallet. That won't matter too much as far as legality goes.
One thing to be aware of is when Coinbase receives your funds from the same wallet there is a direct connection between the two. If you were audited and that chance has gone up since they will hire 87K more IRS agents (to go after rich people *chuckle*) it is possible that they can require you to explain every transaction connected to that wallet address.
If you want to see what's connected, go to your coinbase account and look at the sending address for one of the transfers you made to yourself. Then go to blockchainexplorer and paste that address in there. You will see what they will see. Might want to speak with a tax accountant fluent with crypto reporting and ask for advice on that.