Topic: Why do people create more than one BTC wallet ? - page 3. (Read 1693 times)
My wallets have their own uses. I have wallet in an exchange where I convert my bitcoin to fiat. An online wallet that I use for online purposes and to receive wages from signature campaign. And a secure desktop wallet where I store most of my bitcoin for long time holding. I do not know for others but these are the reasons I have multiple wallets.
We have different reasons why do we create more than one bitcoin wallet and my reasons are , I need to be more secured. One wallet for a large amount of bitcoin is not good. Because hackers will target your bitcoin wallet , They will focus hacking your bitcoin wallet if they know that they will gain a large amount of bitcoin in your wallet, Thats why it is good splitting your bitcoins into different wallets.
You shouldn't put all eggs in one basket, people diversify to protect their assets.
Why do people create more than one BTC wallet ? What are the benefits of it ?
If you are pointing about creating more than bitcoin wallet, maybe there are features on other wallet that is present on other wallet especially web wallets. Since buying and selling bitcoin is less hassle way if exchanges will be used, people are choosing exchanges that is fit to them. Also creating other bitcoin wallet is a good way of not storing all bitcoin on one place.
If you are pointing about addresses, well most of the bitcoin users needs privacy that's why they are using multiple addresses in different transactions.
If you are pointing about bitcointalk forum account, obviously for a purpose of signature and bounty spamming.
What do you mean create more then one account in BTC? Wallet account? If you're asking why they create more than one wallet in BTC i think they do it for security purposes they didn't save all their BTC's in one place i think so that if the wallet get hacked or the wallet encounter a problem they have a backup wallet where some of their profits or bitcoins were stored. I also read a blogspot they said that you really need to make more than wallet for security purpose. But i think some of the businessmen create more than 1 BTC wallet to hide their money (i'm not sure in that i just read it somewhere in the forum) that they convert their money to bitcoins and create more than 1 account of wallet to hide their money
Multiple btc wallets you mean? I think for safety reasons.
there is no "account in BTC". if by any chance you mean multiple bitcoin addresses then it is because a bitcoin address is not like your bank account to be reused. you need to generate a new address for each transaction.
read more about it here: https://en.bitcoin.it/wiki/Address_reuse
unless by account you mean accounts on services such as coinbase which offer wallets then i don't know why or if they do that!
read more about it here: https://en.bitcoin.it/wiki/Address_reuse
unless by account you mean accounts on services such as coinbase which offer wallets then i don't know why or if they do that!
Why do people create more than one BTC wallet ? What are the benefits of it ?
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