Topic: Why do people use so many Bitcoin wallets? - page 19. (Read 51715 times)
sometime i afraid if get hacked by someone , but that thing can be happen to everyone , so i split my money because i afraid if lost it all if save in 1 wallet
I was using single wallet at the beginning but now I use almost 5 to 6 wallets and since I am using blockchain to transact, they have introduced a new feature that we can change wallet address after every transaction and any amount send to previous address will still appear in current wallet. Well basically wallet is same but address (and of course private keys) are different. I use various wallets to ensure expenditure classification is made in right manner, say personal funds management with appropriate heads.
Wow your account name suits you best.
I think your every move were well planned and you are good with financial management. I do not know that there is a site which you can change wallet address and still have the same wallet. I only uses one bitcoin wallet and address. I am just knew with bitcoin and a little bit afraid to explore things. I only make bitcoin through signature campaigns. I am always afraid of investing as scam investment sites were all around.
I was using single wallet at the beginning but now I use almost 5 to 6 wallets and since I am using blockchain to transact, they have introduced a new feature that we can change wallet address after every transaction and any amount send to previous address will still appear in current wallet. Well basically wallet is same but address (and of course private keys) are different. I use various wallets to ensure expenditure classification is made in right manner, say personal funds management with appropriate heads.
Using various bitcoin wallets is very important just like having several bank accounts. In the past, we have had of some banks collapsing and going down with people's funds. Similarly, wallets can face a similar scenario and therefore having many wallets acts as a cushion in times of collapse.
I think it's also a plausible reason enough for many third-party online wallet which could possibly be a collapse. and moreover there are many thieves who can fit into your wallet. so I think split into several bitcoin wallet is a good idea to avoid theft 
Using various bitcoin wallets is very important just like having several bank accounts. In the past, we have had of some banks collapsing and going down with people's funds. Similarly, wallets can face a similar scenario and therefore having many wallets acts as a cushion in times of collapse.
I don't we can relate the different bitcoin wallet providers to the banks who are collapsing. Because even one bitcoin wallet is going to collapse still other providers are still going to keep on moving and doesn't going to have any effect. Unless the direct bitcoin network is going to collapse and this is going to affect all these providers.
They are thinking that its safer and for a part its also safer but I think if they can hack one account they can also hack another wallet account right ?
I think its better but the fact is that you should never put bitcoins into online wallets keep that in your mind.
No, actually if a hacker hacks an exchange then its not necessary that he will hack all the exchanges. I think its better but the fact is that you should never put bitcoins into online wallets keep that in your mind.
It was obvious I think, anyways yes the best ones are offline wallets but not always someone can use the offline wallets for instant payments like life's adhoc requirements.
Using various bitcoin wallets is very important just like having several bank accounts. In the past, we have had of some banks collapsing and going down with people's funds. Similarly, wallets can face a similar scenario and therefore having many wallets acts as a cushion in times of collapse.
So why you are going to create hundreds of bitcoin wallets? I don't think you can have some profitable ways by creating hundreds of bitcoin wallets. I know that with facebook, youtube and other some social media accounts can make you some profitable way if you are going to create with them, but with bitcoin wallets I don't think so.
If you have got multiple accounts here on bitcointalk, I think you may prefer using a different bitcoin address for each account, to minimize the chance people could link your accounts together. It's for hiding yourself, for more anonymous.
Even not for having multiple accounts here in bitcointalk. I guess that is really going to be for your safety and anonymity if you are going to create a lot of it. And I'm sure a lot of merchants also do have many bitcoin wallets especially those merchants that has a lot of businesses online and they need to separate their wallets for each business that they own.
So why you are going to create hundreds of bitcoin wallets? I don't think you can have some profitable ways by creating hundreds of bitcoin wallets. I know that with facebook, youtube and other some social media accounts can make you some profitable way if you are going to create with them, but with bitcoin wallets I don't think so.
If you have got multiple accounts here on bitcointalk, I think you may prefer using a different bitcoin address for each account, to minimize the chance people could link your accounts together. It's for hiding yourself, for more anonymous.
Just wondering why people use so many Bitcoin wallets.
it is because the multiple wallet users want pruvacy of thier transaction . but here i think there is no need to use multiple wallet . new updated version of blockchain provides us a better privacy . where no one can trace that how much btc goes on transaction at the particular adress .People like to diversify their funds so it only makes sense to have them divided into seperate places where you can draw from when the time comes it is needed.
yeah function of using a lot of purses are so you can save your bitcoin in many places so that you avoid a scam or theft that may eliminate all of your money?but the risk is that you might be confused by using it because you has a lot of wallets that is active
Just wondering why people use so many Bitcoin wallets.
Maybe to secure their coins in the near future. Because They saw a vision into it like me, Bitcoin has a better future soon it will really rise up at the price we want it to be. Just don't use 1 wallet only, use many wallets were you think its safe to use.
People are doing this for the safety, they are thinking that its safer to just put in on a couple wallets so if your wallet gets hacked the hacker only has a small amount.
I must say it can be pretty safe its just a security measure you can take.
Yes, they are doing so for safety and they seem to be right also in their opinion, but I think if only security is the issue then core wallets are the best ones ( always keep the important file in some disk which cant be lost ).I must say it can be pretty safe its just a security measure you can take.
Also some sites like xapo give you new address every time you receive money.
Just wondering why people use so many Bitcoin wallets.
Well some of them want to separate their expenses and profit, some also uses different wallet for different account here in bitcointalk when joining signature campaign those are called farmers. But for me 1 Bitcoin Wallet is enough for everything receiving and sending Bitcoin from user to user or user to casino site etc etc.
For convenience and security.
E.g. multiple wallets (paper) for long term offline storage, a mobile wallet for easy small payments, and a hardware wallet for secure large payments.
I truly agree with you..... Convenience and security... E.g. multiple wallets (paper) for long term offline storage, a mobile wallet for easy small payments, and a hardware wallet for secure large payments.
people use many bitcoin wallet because they wanted their bitcoin is stored securely, and therefore they have more than one bitcoin wallet. I think that's good
well yeah it is way more secure if you actually use more different wallets because it allows you to make sure that you wouldnt lose it all if one wallet gets hacked
Recently i using 1 wallet for my bitcoin and sometime i think about next wallet for cold storage but i think maximum wallet is much more good for bitcoin .
Yeah people have so many bitcoin wallet because there is wallet hacking problem so people can not keep their all bitcoin in one wallet and so they divide their bitcoin on many wallet and then save it in their multiple wallet because if anyone hack his minimum bitcoin it is the reason of many wallet .
protect yourself at all cost, on this case your coins. just having one wallet is very risky as you can lose all of them at once. there's no harm in having a back up storage
If such was the reason, then I think they would be using a offline wallet and official wallet like core. The reason behind using so many wallets is not limited but are : being un-traced if doing something personal, for accepting payments from various clients.
It's just too easy to create wallets, so why don't generate hundreds of them just in case? Just like create hundreds of emails, facebook, youtube... accounts. They are always useful.
So why you are going to create hundreds of bitcoin wallets? I don't think you can have some profitable ways by creating hundreds of bitcoin wallets. I know that with facebook, youtube and other some social media accounts can make you some profitable way if you are going to create with them, but with bitcoin wallets I don't think so.
They create them left and right, lose the keys, lose the wallets, lose everything and then wonder where it all is.
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