Fintech developers looking to enable users to track their xPub, and end users that would like to have a view of your crypto portfolio, including a Ledger xPub key, can use the Vezgo API to connect and track their Bitcoin xPub Address.
What is an xPub Address?
An xPub, or an extended address, is a type of public key representing a collection of public keys or addresses. All child public keys, which are used to view your transaction histories and receive crypto transactions, are derived from it.
Before we go deeper into xPub Address, if you are building a crypto portfolio tracker and you need an API to help gather portfolio data from various exchanges and wallets at once, try Vezgo API.
If you are a crypto investor looking for a portfolio tracker that uses Vezgo, have a look at our selection of crypto portfolio tracking tools that will let you view your xPub balance.
Now, let’s dig deeper into xPub…
How does an xPub work?
An xPub, or extended public key, is a type of public key used to generate other public keys or addresses. In other words, an xPub address is a parent address that gives birth to many child addresses.
One Parent Address & Many Children
On Ledger, have you noticed that whenever you need to receive some crypto funds, your crypto wallet generates a new public address different from your previous one? More like using a different bank account number for each transaction.
Ever wondered why that happens?
Assume Carla has 100BTC in her wallet and wants to send 30BTC to Martin. What actually happens is that all of Carla’s 100BTC leave her wallet. The 30BTC that’s meant for Martin goes into Martin’s wallet. But Carla’s balance is transferred to a new wallet address.
This is so that Carla is protected if her initial wallet is compromised, or so Carla’s wallet address remains private. This concept is called Unspent Transactions Output (UTXO).
While the idea of UTXO is great, it has some problems:
- How do you track all your public keys and balances?
- How do you know what addresses are yours?
- How does the blockchain avoid address reuse?
This is where the xPub comes in…
The xPub offers a bird’s eye view of your public addresses and balances so that keeping track is possible for every wallet. It does this by being the parent public key from which all your public keys are generated for all transactions.
What blockchains or wallets use xPub?
The Bitcoin xPub is for sure the most popular Extended Key.
Bitcoin (BTC) and Cardano ADA) are two of the most popular chains that use Extended Public Key. Any blockchain that uses the concept of unspent transaction outputs, where the full balance of a wallet is spent on every transaction, is prone to use xPub, yPub or zPub.
When it comes to wallets, Ledger is the most popular hardware wallet that uses xPub. When you are ready to connect your Ledger xPub key to Vezgo or a crypto portfolio tracker, you can use Ledger Live to find your xPub key. It’s available from the Advanced Logs section in the Edit Account window .
Trezor, another popular wallet, does not use xPub, it uzes zPub, which is an alternate extended public key. New Public Extended Keys like yPub and zPub are the same as xPub, but they use new standards and address format. As of today, Vezgo supports connecting xPub, yPub or zPub yet.
Is xPub available at Crypto Exchanges?
You might be interested in getting an xPub key for your Coinbase and Binance account. Unfortunately, this is not possible. Coinbase don’t have xPub. In order to track your crypto assets from exchanges, you can use the Vezgo Crypto Data API to connect to the Coinbase or Binance API or crypto portfolio trackers like Wealthica, but you can’t use xPub.
Some exchanges like Coinbase or Binance also offer a wallet feature separate from the exchange. The Coinbase Wallet does not use xPub, according to this Reddit thread, is uses the zPub key. The Binance Wallet is called Trust Wallet. Trust Wallet does support xPub, you can find your Trust Wallet xPub key in the Export Public Keys of your Account feature.
Keeping Your xPub Address Secure
xPub addresses do a lot to help you keep track of your wallet transactions. However, one obvious potential flaw is that anyone with access to your xPub key can see all your transactions and your list of public addresses.
Only public key information is stored in xPubs, not private key information. Thus, you can’t access your wallet’s funds through them. However, they allow you to monitor your wallet’s transactions. Also, xPub addresses are “read-only”, which means nothing can be altered through them.
It is safe to share your xPub, as no one will be able to do anything with your funds, but they would be able to spy on your transactions. If third-party apps require you to share your xPub address, proceed with caution as your key is public and it might reveal information you don’t want to be public.
Track Your Crypto Wallet with Vezgo API
Building crypto wallet trackers has never been easier, thanks to Vezgo. Vezgo is an API provider that gives you just one API for all tracking all crypto wallets, including Trust Wallet, Ledger xPub, Trezor, and so many more.
Use portfolio trackers to view xPub Balance
Using the Vezgo Crypto Data API, portfolio trackers enable investors to view and analyze their xPub balance in addition to traditional finance investments or crypto holdings at exchanges. Vezgo enables crypto portfolio trackers and 360° dashboards to easily track all your crypto assets including your Ledger xPub Address or Bitcoin xPub Key.
Here are a few portfolio trackers that allow to connect xPub:
- Wealthica, All your investments in one place.
- Assetdash, Track and earn rewards.
- Exirio, Track your wealth.