Topic: Why do people use so many Bitcoin wallets? - page 23. (Read 51662 times)
One of the reason why people use so many bitcoin wallet because exchange does not share the same wallet. They have their own cold storage and have their own set of securities. Another reason when it comes to personal wallet is that, it is for security purpose, not putting all their BTC in a single wallet. So if they lost the pass key of one wallet, it will not compromise all his bitcoin holdings.
people use many bitcoin wallet may want a high security so that they use a different address in each transaction. that is why they use many bitcoin wallet
I think i would have to disagree to this one because in my opinion having more than one wallet in any transaction can be more risky in some ways well there would also be disadvantages to this one that can also be considerable people use many bitcoin wallet may want a high security so that they use a different address in each transaction. that is why they use many bitcoin wallet
That can be one reason and other reason could be they want to minimize the risk by saving their coins in different wallets, so even if something goes wrong with one wallet, you don't loose everything.
IMO each wallet has advantages of it's own, And because of these advantages people use different wallet according to their needs, For example:
- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
thats true, people use different wallets because of a wide variety of reasons and i think it is not just because of anonymity- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
Just wondering why people use so many Bitcoin wallets.
Is this a question about one person using many wallets? Or just about people in general using wallets instead of something else? I guess it is more likely to be the first question. In this case, I suppose the answer might be that a person is afraid to keep all the money in one place and thinks it is safer to use a few wallets than to use just one. I think we have the same situation with cash. I keep my cash in different places if I go travelling, for example. Because in this case if someone stole your money, you still have some of it left somewhere. people use many bitcoin wallet may want a high security so that they use a different address in each transaction. that is why they use many bitcoin wallet
Exactly why I use different wallets too. I have a wallet where I put all my faucets and sig earnings and one main wallet where I do my personal business.
people use many bitcoin wallet may want a high security so that they use a different address in each transaction. that is why they use many bitcoin wallet
I think most of them do it to increase security if their assets. never put all the eggs in one place )
IMO each wallet has advantages of it's own, And because of these advantages people use different wallet according to their needs, For example:
- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
thats true, people use different wallets because of a wide variety of reasons and i think it is not just because of anonymity- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
Its of course for multiple reasons but I think the main reason is for security if you have it spread on multiple wallets its way more secure.
Anonymity is also playing a role but not a big one.
IMO each wallet has advantages of it's own, And because of these advantages people use different wallet according to their needs, For example:
- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
thats true, people use different wallets because of a wide variety of reasons and i think it is not just because of anonymity- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
Its of course for multiple reasons but I think the main reason is for security if you have it spread on multiple wallets its way more secure.
Anonymity is also playing a role but not a big one.
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I only use 1 .and thinking of having anogher 1. maybe they plan there first to be there savings wallet. the othe the investment wallet and the others for gaming or trading. i just think so
i use only one bitcoin wallet too, i just dont need any more right now to be honest and i hope that i wont need it in the future too because it would be hard to find everythingIMO each wallet has advantages of it's own, And because of these advantages people use different wallet according to their needs, For example:
- Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
thats true, people use different wallets because of a wide variety of reasons and i think it is not just because of anonymity - Armory is secure, People with cold-wallets or big amount of BTC use it
- Electrum is fast, doesn't need to download the whole blockchain and PC based mostly
- Blockchain.info is fast and incredibly easy to use, suitable for beginners and small amounts of BTC
And the like, each wallet has an advantage of it's own.
I only use 1 .and thinking of having anogher 1. maybe they plan there first to be there savings wallet. the othe the investment wallet and the others for gaming or trading. i just think so
i use only one bitcoin wallet too, i just dont need any more right now to be honest and i hope that i wont need it in the future too because it would be hard to find everything
I only use 1 .and thinking of having anogher 1. maybe they plan there first to be there savings wallet. the othe the investment wallet and the others for gaming or trading. i just think so
i use only one bitcoin wallet too, i just dont need any more right now to be honest and i hope that i wont need it in the future too because it would be hard to find everything
People make use of more wallets so that they can spread their Bitcoin over those wallets because if one gets hacked or something they do not lose all there Bitcoin.
It is a pretty smart thing and I recommend doing it if you have a couple Bitcoin.
true, one reason to use many bitcoin wallet is to avoid attacks by hackers. with technological system I was worried that my wallet would be hacked. otherwise use a lot wallet will make us more secure privacy. we do not seem to have many bitcoin.It is a pretty smart thing and I recommend doing it if you have a couple Bitcoin.
I agree with this. Changing passwords frequently will also help. One of my account have been hacked but good thing I changed password immediately for other accounts to avoid losing it all.
The diversity of wallet software is a good thing for bitcoin. Different teams can test different feature sets, and the ecosystem learns what works and what doesn't. There's still a good bit of mystery as to what the perfect "average consumer" wallet software looks like.
People make use of more wallets so that they can spread their Bitcoin over those wallets because if one gets hacked or something they do not lose all there Bitcoin.
It is a pretty smart thing and I recommend doing it if you have a couple Bitcoin.
true, one reason to use many bitcoin wallet is to avoid attacks by hackers. with technological system I was worried that my wallet would be hacked. otherwise use a lot wallet will make us more secure privacy. we do not seem to have many bitcoin. It is a pretty smart thing and I recommend doing it if you have a couple Bitcoin.
I only use 1 .and thinking of having anogher 1. maybe they plan there first to be there savings wallet. the othe the investment wallet and the others for gaming or trading. i just think so
i use only one bitcoin wallet too, i just dont need any more right now to be honest and i hope that i wont need it in the future too because it would be hard to find everythingI have a Ledger wallet. It isn't normally used with a offline, but in with my phone alot. I use my Ledger on my computer and sometimes I use Mycelium to open my Ledger on mobile.
I only use 1 .and thinking of having anogher 1. maybe they plan there first to be there savings wallet. the othe the investment wallet and the others for gaming or trading. i just think so
i use only one bitcoin wallet too, i just dont need any more right now to be honest and i hope that i wont need it in the future too because it would be hard to find everything
It's very annoying for me, just stick to a small amount of wallets. I used to use blockchain.info for small amounts but I can't trust them anymore, they want to go the anti privacy way with the KYC shit.
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