Topic: How way you choose way to saving Bitcoin ? - page 5. (Read 805 times)
It depends on how much bitcoin you have, so if based on what you've mentioned on your thread with 0.01 BTC then I think it is better if you will choose to invest it in one wallet address, imagine if you will going to separate it for 10 wallet addresses then you will have to pay 10 transaction fees, that is frustrating, instead of having 0.01 BTC of investment it will turn lower than that value. On my part even though I have 1BTC I will still choose to invest it in one wallet address, which is better for me so I don't need to create more than one crypto wallet. One of the disadvantages of it is only if your wallet gets hacked then you will leave 0 balance.
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.
Why do you have many addresses to store bitcoin, it seems like what you will tell by storing so many bitcoin addresses is actually detrimental because the costs incurred increase while the value you receive shrinks. just use one address that you feel sure is safe from people who want to take it from your storage by not making mistakes that are often expressed by many colleagues here. 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.
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.
That's too low to diversify or segregate mate , Because hackers won't give a Good look at that amount.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.
But in General when you have 1 Bitcoin in your Hands? then that is the best way to scattered your funds.
Loading each wallet amounting 0.1 btc each or Let it all stay in your ledger wallet in which will make them all safe.
I will only leave 0.2btc in my custodial wallet so i can have funds ready for buying more in low price or will Diversify in other currencies.
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
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 guess it all boils down to what you think is a decent amount of BTC that needs to be distributed among other wallets for safer keeping. I myself have not yet come to that amount, but I also put a lot of faith in hardware wallets so I will not be redistributing my assets any time soon.
What I would suggest is that you dedicate one part of your crypto portfolio to a hardware wallet and the other part to a trusted and well-known online wallet. From that wallet, you do all of your transactions and don't touch the hardware wallet. You can always transfer your funds between wallets, but do all other transactions through your online wallet just to keep it safe.
What I would suggest is that you dedicate one part of your crypto portfolio to a hardware wallet and the other part to a trusted and well-known online wallet. From that wallet, you do all of your transactions and don't touch the hardware wallet. You can always transfer your funds between wallets, but do all other transactions through your online wallet just to keep it safe.
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 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.
For that amount? I would say best to store it in one wallet. But as your bitcoin grow, it might be a good idea to split it up to different wallets for security purposes.
Personally though, I have one wallet wherein I save all my bitcoin, and then I have one wallet address for every exchanges that I've used.
I just curious, How way you choose to saving Bitcoin ?
Saving or storing? Is it storing?Quote
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 don't and you should not.0.01 BTC is small amount in BTC and you will have to pay transaction fee for each small part of your 0.01 BTC if you split them into 10 parts: 0.001 BTC for each.
The transaction fee for each part will be too big for each part value.
Worse if you include a few parts as inputs that will increase transaction size and increase transaction fee.
You can use change address rather than split them.
If you spend 0.001 BTC from the 0.1 BTC, the rest 0.008xx (after spend transaction fee) will be sent to a change address. You can use the 0.008xx BTC in the change address for future transactions and so on.
What is "Change" address on bitcoin wallet ? read to know !
Fee is main minus point but there is another. Do you plan to use exactly 0.01 BTC for each payment of yours? If you don't, what will you with the small BTC left less than 0.000xxx BTC? It has a value but you can not use it as fee restriction.
For me it depends purely on the btc price and how much of it have. I wouldn't bother to divide 0.01 between diffent addresses because just the fees would make a dent in it but usually i keep my investment in 5-10 different addresses, even if they weren't some in altcoins. Some of them i hold in trusted in exchanges for trading and cashing out.
Personally, if I were to buy bitcoin on the weekly/monthly(regardless if from centralized exchanges or p2p exchanges), I'd use wallets that gives me access to a lot of addresses off the bat, to somewhat make tracing harder, potentially increasing privacy. Address reuse is a no-go when it comes to privacy.
https://nopara73.medium.com/coin-control-is-must-learn-if-you-care-about-your-privacy-in-bitcoin-33b9a5f224a2
https://nopara73.medium.com/coin-control-is-must-learn-if-you-care-about-your-privacy-in-bitcoin-33b9a5f224a2
I just curious, How way you choose to saving Bitcoin ?
It depends on what I want. If I don't want to be known that I have 0.01 BTC then I shouldn't keep it on one address. I should split them on x addresses (Maybe not 10 with 100k sats each, because it looks obvious that they're mine). If I don't care about being known, then it'd be cheaper to create only one output.Its a waste of transaction fees.
It's not a waste of transaction fees if you want better privacy. Its hard enough to keep one private key, having 10 private keys will cost a hassle.
Who keeps the private key(s) anyway? Why would you choose an enormous 256-bit WIF encoded number that gives access to only one address over a mnemonic in which you can derive as many as you want?
why you used many wallet for saving.i want to chose only wallet .if you use some wallet carefully saved your privet phrase and key. many times people lost their wallet key .i think if you used one wallet it,s best for everyone. nowadays transaction fees very high.
Its a waste of transaction fees. There is no reason for you to split the coins to 10 addresses, just keep it in one address it's just 0.01BTC. Its hard enough to keep one private key, having 10 private keys will cost a hassle. This is not how to make your BTC safe from scammers or hackers, its just not exposing your private key to someone else.
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.
You can split your funds in different address according to your wish but for that you need to allocate huge funds for security purposes.But for small amount of Bitcoin such as 0.001 you can have one Bitcoin address of each type like P2SH address.You need to remember seed phrase for each of them and its easy to remember one or two of them and you can import your private keys and corresponding public key with that seed.But if you are using different address for such small amount it would result in paying higher transaction fees and issue of seed phrase so it's simple to use one wallet with one address. 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 it is savings then better to spread it out into a few wallets IMO,,, just to spread the risk if one gets lost or stolen.
But for daily purposes always better to only use one wallet and even to practice consolidation of inputs so you do not pay high miner fees when spending.
Why would your wallet get stolen, unless you are a blabber mouth or you are gullible and always clicking suspicious links then I can understand why you got your wallet stolen but to split the money on different addresses to mitigate risk when there is clearly no risk to mitigate is a bullshit. One wallet is enough, at best condition, a wallet is as strong as Fort Knox. I would disagree about one wallet is for daily purpose, one wallet can do other things. But for daily purposes always better to only use one wallet and even to practice consolidation of inputs so you do not pay high miner fees when spending.
If it is savings then better to spread it out into a few wallets IMO,,, just to spread the risk if one gets lost or stolen.
But for daily purposes always better to only use one wallet and even to practice consolidation of inputs so you do not pay high miner fees when spending.
I always spend from one input until they become small and then when I see many "dust" I consolidate on next spend.
But for daily purposes always better to only use one wallet and even to practice consolidation of inputs so you do not pay high miner fees when spending.
I always spend from one input until they become small and then when I see many "dust" I consolidate on next spend.
You can create a multi-sig wallet if you wanted to, but obviously, you need to store the seed/backup more carefully so you don't lose access to your wallet. I might consider splitting my balance if I have something I considered life-saving (which depends on where you live) though, as others mentioned above.
In the end, it depends on your lifestyle and the security around your place imo.
In the end, it depends on your lifestyle and the security around your place imo.
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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 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 you only have a small amount of bitcoin, it is better to save in one wallet because that is not worth it if you split into many wallets. If you have more than 3-10 bitcoin, you can use 3-5 wallets to split the amount, and you can hold the biggest amount on one wallet, which you do not use to buy and sell or trade. Besides that, you can reduce the fees to send the bitcoin to the other wallet or exchange. But that will depend on yourself because if you think that it is better to use 2-3 wallets or even 10 wallets, you are free to use that.
I'll save it into one address. You'll feel a regret with the fees that you'll pay when you're sending it in different address. These days, we tend to compute the fees converted into USD than looking into it as satoshis per byte.
That's why it's the best option to save fees when you're going to save that amount into one address.
That is the only rational solution, why would you split it in multiple address in the first place? That will be a waste of time in my book. I thought that this thread was about saving bitcoin for something but it was just a plain old piggy bank saving kind of thing, utterly disappointed That's why it's the best option to save fees when you're going to save that amount into one address.
. As @batang_bitcoin said, the payment is also a bitch so might want to consider before splitting up what you are saving. If I were to have .01 bitcoin, I wouldn't just save it because I can see a potential of growth when I invest it into something.
Although you can save a little bit on fees like @batang_bitcoin said, if you want to improve your security you could have more addresses backed up as paper wallets so if one address/wallet gets stolen you only lose 10% (in the case you had your bitcoin split evenly between 10 addresses). If you choose to go on this route make sure you scatter the paper wallets in different locations. 
However I don't think it is worth the hassle. For 0.01 btc I would just use one address.
However I don't think it is worth the hassle. For 0.01 btc I would just use one address.
I'll save it into one address. You'll feel a regret with the fees that you'll pay when you're sending it in different address. These days, we tend to compute the fees converted into USD than looking into it as satoshis per byte.
That's why it's the best option to save fees when you're going to save that amount into one address.
That's why it's the best option to save fees when you're going to save that amount into one address.
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