How way you choose way to saving Bitcoin ? - page 2.

uneng

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Quote from: imstillthebest on March 10, 2021, 01:34:02 PM

Quote from: uneng on March 10, 2021, 11:56:24 AM

If you are going to save it while investing it's better to split among different sites, but if you are going to just keep it storaged it's better to choose a reliable wallet to put all your funds at the same place. The best option is the physical ledger or trezor wallet, although they are expensive and depending where you live you will probably have to import it.

saving and investing both requires long duration of holding but splitting the funds to different wallet and diferent investing site is safer because incidents of stealing can occur in the future if not today or by next month and if you let your money sit in one place all can be wipe out . if you not going to save and your only going to invest for a short period of time , thats acceptable to have a one wallet because you are going to use the money afterwards .

Quote

Furthermore, by holding all your coins in the same wallet prevent you from paying many transaction fees when moving these coins to other places in the future

will you allow that your 1 btc gets hacked because you refuse to pay a 0.01 btc total fee from diversifying that 1 btc

If you have a physical hardware wallet following all the security measures you won't be hacked.
But for people who are still insecure it's better to split the funds, as the worries regard their bitcoins will cause a lot of pain and anxiety on their daily lives.

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Quote from: mezzaluna on March 10, 2021, 11:09:11 AM

Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

Imo, its safer to keep in on one wallet because you are only facing one risk by keeping it in one electronic wallet but dividing it into 10 address means that you are also increasing the risk that you will be facing like having to encounter the volatility of Cryptocurrencies and you also need to consider the gas fees. If you try to split it in 10 ways, you might lose your initial savings but keeping it on only 1 wallet is much safer for me.

I could also try to look for ways on investing it on new opportunities.

I don't get your point about gas fees? Anyways, indeed it's a little of a risk keeping your crypto on online wallets. It wouldn't be a bad idea investing in a cold wallet (they aren't even that expensive nowadays); that way you know they're 99% safe.

imstillthebest

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Quote from: uneng on March 10, 2021, 11:56:24 AM

If you are going to save it while investing it's better to split among different sites, but if you are going to just keep it storaged it's better to choose a reliable wallet to put all your funds at the same place. The best option is the physical ledger or trezor wallet, although they are expensive and depending where you live you will probably have to import it.

saving and investing both requires long duration of holding but splitting the funds to different wallet and diferent investing site is safer because incidents of stealing can occur in the future if not today or by next month and if you let your money sit in one place all can be wipe out . if you not going to save and your only going to invest for a short period of time , thats acceptable to have a one wallet because you are going to use the money afterwards .

Quote

Furthermore, by holding all your coins in the same wallet prevent you from paying many transaction fees when moving these coins to other places in the future

will you allow that your 1 btc gets hacked because you refuse to pay a 0.01 btc total fee from diversifying that 1 btc

uneng

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If you are going to save it while investing it's better to split among different sites, but if you are going to just keep it storaged it's better to choose a reliable wallet to put all your funds at the same place. The best option is the physical ledger or trezor wallet, although they are expensive and depending where you live you will probably have to import it.
Furthermore, by holding all your coins in the same wallet prevent you from paying many transaction fees when moving these coins to other places in the future.

mezzaluna

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

Imo, its safer to keep in on one wallet because you are only facing one risk by keeping it in one electronic wallet but dividing it into 10 address means that you are also increasing the risk that you will be facing like having to encounter the volatility of Cryptocurrencies and you also need to consider the gas fees. If you try to split it in 10 ways, you might lose your initial savings but keeping it on only 1 wallet is much safer for me.

I could also try to look for ways on investing it on new opportunities.

Innerpumper

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it would be better that it is divided for multiple jobs in one wallet only. if it has 0.01 btc . can be shared:
long-term investment 0.005 btc
short-term investment 0.0025 btc
trade 0.0025 btc.
this is just my advice.

choechristian00

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

The best and safest way to store your Bitcoin is in a hardware wallet. You can choose between Ledger and Trezor. Always purchase from an approved seller and never use a resold hardware wallet. Keep a copy of the seed words on your computer.

virasisog

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

BTC transactions can be expensive especially when the price is too high. As long as it is kept in a secured wallet like ledger it doesn't matter if you will keep it in just one wallet as long as your funds are secured. Keeping it in several wallets will not secure your funds if you are planning to put it in a non-custodial wallet, as long as you have your private keys you secure your funds. You don't have to do extra work or even pay extra transaction fees by distributing your BTC to different wallets for security.

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

One address to store that much is fine. It is not that wallets have any upper limit of how much maximum bitcoins that can be stored in it. In fact that bitcoins are only linked to your private key and not even to your public addresses, those are just used to detect which address received how much at what time using a block explorer.

However these thoughts are more common with people who are laundering money. They would attempt to remove traces by using more than one receiving wallet. If you have no such intention in mind then you can also store your coins in a single wallet. People are paranoid about anonymity (even though bitcoin is pseudoanon), will use different wallet addresses for every transaction.

Spaffin

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The fact is that I do not have so much bitcoin that I can store it in several wallets, and buying a hardware wallet is too expensive for me. But nevertheless, I prefer to use the blockchain..info wallet. At the very least, I consider this resource safe enough to store my Bitcoin, thanks to the multi-layer security system and individual barcode. In addition, the safety and security of his funds depends on the user himself.

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

If I am saving my BTC I don't see the benefit of spliting it into plenty of wallet it would just waste my time and also transaction fee.
I would just choose a wallet that could really protect my crypto and wouldn't be easily hacked.

bandungan

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I will choose 1 bitcoin tool but use a hardware wallet. because for me security is the main thing. I use nano ledger hardware wallet since 2 years ago and until now it's still safe

coolcoinz

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Quote from: goldade on March 04, 2021, 06:06:27 AM

Splitting your coins between wallets depends how much coins you have in the first place. If you have 1 btc, then there really is no problem splitting up the coins between 10 different wallets at 0.1btc each
However, if you have small amounts of bitcoins, say 0.01, then splitting it between ten wallets is not advisable because of the amount of transaction fees you'll incur. In this case, it is better to leave the coins in just one wallet.
You should also know that, with a single wallet, there is a significant amount of profits when bitcoin increase in price as compared to when it's being splitted

I don't see any reason for splitting coins that yo are holding. You should only split if you have coins that you're holding for long term profit and coins that you're moving every day for purpose of trading, gambling, or spending in any other way. You should have your holder wallet and your daily use wallet separated so that you can keep your bigger, more important wallet offline for as long as you can. It doesn't really matter how much you're holding. I have single addresses, each containing more than 1BTC in one and the same wallet and I don't feel like it's a vulnerability as long as the wallet remains on a safe, clean machine.

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

Some are worried if someday they got hacked or compromise their wallet, lost their keys, and etc...they spread their Bitcoin to different addresses but I don't think it was a good idea because, for me, it is much better to have it save in one wallet for easy monitoring. Unless if you have a lot of BTC's, 10BTC, 20BTC, or more, that is really advisable to split them.

But I don't have to worry about hacking incidents because I don't save a huge amount of BTC. I use to convert it to our local money, invest the money to the stock market, traditional business, and it all safe.

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

I will save at one address only, because fees for transferring Bitcoin are very expensive, so if I use multiple address to saving Bitcon, then I only spend my money to pay fees, so I don't think it's worth it to saving Bitcoin in multiple address, but if you have no problem with fees from Bitcoin and you are afraid to save Bitcoin in one address, then you can save Bitcoin that you have in multiple address.

Xinarae*

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Hardware wallet is a good wallet for storing bitcoin hardware wallets are special devices used specifically for storing bitcoins. The primary advantage of bitcoin wilt is that they provide more protection against theft than desktop or mobile plates wallet users need to create strong passwords and back up. These backups must be stored securely to avoid bitcoins being stolen or lost It's easy to control.

lalabotax

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Why do I have to use a different wallet? I might run out of BTC for Fee because the amount is small.
For me, with the amount that I have, I just keep it in Echange, actually it is not saving but more for buying and selling and so on. Because it is not for the long term.

MCobian

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For now, I prefer to store at one address, besides the amount of Bitcoin I have is not so much. Storing at one address saves transaction costs,
and it's easier to control. As long as the wallet we use is safe, I highly recommend storing Bitcoin in a hardware wallet. Because we ourselves
keep the private keys, so it is very safe because only we can access it.

bct-user

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I only have very few bitcoins, so I just keep my bitcoins on exchange and trade my bitcoins for a profit.

Do you never move your Bitcoin from the exchange wallet? Many people say that saving your Bitcoin on an exchange wallet is too risky and surely not recommended. I think you need to consider moving it to a safer wallet once your Bitcoin is already in a quite big number there. Segwit wallet seems safer to be a place to save Bitcoin.

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Quote from: Maddd Cuan on March 04, 2021, 02:23:13 AM

Hello Everyone,

I just curious, How way you choose to saving Bitcoin ?

Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.

I buy bitcoins by reducing spending while taking my paycheck. Because I have a daily job and active income. Two years ago bitcoins were quite cheap and I bought them a few but now bitcoin is bullish. My money becomes small. I usually keep them on the binance exchange. As the number is low, transferring private wallets also costs transactions.

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