For maximum privacy, our wallet generates new bitcoin and bitcoin cash addresses every time funds are received. Our wallet is built on an HD (or hierarchical deterministic) framework, a privacy-centered method for address generation and management. Each public address your wallet generates stems from your wallet's xPub (or Extended Public Key). Each time you receive funds, your wallet will use the xPub to generate a new receiving address.*
When you create a new sub-wallet (or wallet category) in the Addresses section of your wallet Settings, you generate a new xPub for your wallet to use for address generation. By default, clicking Request will fetch a new address from the xPub of your default sub-wallet (for all new wallets, this is My Bitcoin Wallet, but this can be changed within Settings > Addresses). When you choose a different sub-wallet from the Receive To: dropdown menu, your wallet will generate a new address from the xPub of that sub-wallet.
You only need to back up your wallet once; all of your sub-wallets are backed up by a single 12-word recovery phrase. Since the recovery phrase is the seed from which every xPub’s corresponding xPriv (extended private key) is derived, all of the private keys of all addresses derived within the wallet are contained within it. Read more about public and private keys here.
We strongly advise against showing your xPub to third parties. Knowledge of the xPub can enable someone to track your wallet’s entire payment history and possibly disrupt access to your funds. If you are having an issue and reach out to us by submitting a ticket, on rare occasion, our support team may ask for your xPub in order to diagnose your issue. Please note that this is the only channel by which we would ask for this information. We strongly recommend never revealing your xPub on any public channel, including social media, or to anyone else.
*While bitcoin and bitcoin cash addresses, once generated, never become invalid and can be used to receive multiple payments, we recommend using a new address for each transaction. If you use the same address each time you receive funds, it becomes easy for anyone to track your entire payment history.