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.
Topic: Why do people use so many Bitcoin wallets? - page 24. (Read 51662 times)
There are a number of reasons. I use more than one for the efficiency of being able to access funds faster in one wallet than another. I also do not like to keep all my eggs in one basket. If one wallet should ever be hacked, my funds are safe in my other wallets.
many reasons why people use many bitcoin wallet, one reason is to be safer or prevent the loss of its entire bitcoin because the problem of bitcoin wallet they uses
I guess it depends on how you are using your wallet and your PC, You can either focus on security and install a secure wallet like Armory or focus on ease of use and download electrum, I guess the user needs determine how you use it.
Maybe its because people want more safety by spread their bitcoin into many bitcoin wallets for long term investment or they want seperate their bitcoin, so they know from where they receive the coins.
Beginner most of the times feel unsafe and whenever they hear about new wallets they keep changing from to others. I have been in Bitcoin for more than 2 years and still using blockchain.info and desktop core wallet. I don't even feel need to think about others. At start I also had many reservations and thoughts regarding my funds. People feel insecure that is main reason of using many wallets.
Just wondering why people use so many Bitcoin wallets.
I think no because if they are going to use many bitcoin wallet for what activity ? Are they building something or are they creating some ponzi website that needs more bitcoin accounts ? or i think it's API where they going to create bitcoin so that they can use it for their business . 
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.
- 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.
Maybe that could be a reason for using a lot of wallets for people but i guess mostly people use more bitcoin wallets than just one or two because they don't feel safe keeping all the coins in one but they split them in parts in different wallets so that if something happens to one others should be safe.
That is certainly true, Comrade blockchain is bitcoin wallet platform and also recommendations to all newbie bitcoin. In addition to the friendly, blockchain also has outstanding safeguards and it will make us be more comfortable and secure in store bitcoin. But it's all also depends on the tastes of each person
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.
- 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.
Maybe that could be a reason for using a lot of wallets for people but i guess mostly people use more bitcoin wallets than just one or two because they don't feel safe keeping all the coins in one but they split them in parts in different wallets so that if something happens to one others should be safe.
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
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.
- 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.
Maybe that could be a reason for using a lot of wallets for people but i guess mostly people use more bitcoin wallets than just one or two because they don't feel safe keeping all the coins in one but they split them in parts in different wallets so that if something happens to one others should be safe.
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.
- 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.
It's very easy to explain, when you get huge or even avarge amount of bitcoins better to keep it on different wallets to prevent it been hacked.
i think you are right that there is many bitcoin wallet people are using because there is a big problem of hacking account so i think its good way to use multiple wallet and it will be too secure for our balance.
This was my question to my friend before because everytime I will send him some bitcoin I noticed different addresses. It is because there are bitcoin wallet thay will deactivate your account if they find suspicious things on your every transaction. Especially if you are into gambling, they will not allow that transaction.
Or maybe your friend had a wallet that generates a new address everytime a transaction is done, just like Xapo.
In Xapo your wallet address get changed everytime you get a new transaction, though you will still receive your bitcoins if they are sent to an old address among them.
Xapo and some other wallets have this feature. This is good from security perspective, although it could be annoying for persons who are constantly sending coins to the same person but always on different address. And some people like to generate multiple addresses in the same wallet, like blockchain, so each could be for different purpose, especialy if you have some bussines, or signature campaign or something else, so you can monitor separate funds on each address.
This was my question to my friend before because everytime I will send him some bitcoin I noticed different addresses. It is because there are bitcoin wallet thay will deactivate your account if they find suspicious things on your every transaction. Especially if you are into gambling, they will not allow that transaction.
Or maybe your friend had a wallet that generates a new address everytime a transaction is done, just like Xapo.
In Xapo your wallet address get changed everytime you get a new transaction, though you will still receive your bitcoins if they are sent to an old address among them.
This was my question to my friend before because everytime I will send him some bitcoin I noticed different addresses. It is because there are bitcoin wallet thay will deactivate your account if they find suspicious things on your every transaction. Especially if you are into gambling, they will not allow that transaction.
I've seen other people basically tell me the same and I would never use a wallet that would close my account for using 'suspicious' services. Just use a desktop wallet and things like that won't happen.
It's not the job of the wallet service provider to judge that.
This was my question to my friend before because everytime I will send him some bitcoin I noticed different addresses. It is because there are bitcoin wallet thay will deactivate your account if they find suspicious things on your every transaction. Especially if you are into gambling, they will not allow that transaction.
I've seen other people basically tell me the same and I would never use a wallet that would close my account for using 'suspicious' services. Just use a desktop wallet and things like that won't happen.
It's not the job of the wallet service provider to judge that.
This was my question to my friend before because everytime I will send him some bitcoin I noticed different addresses. It is because there are bitcoin wallet thay will deactivate your account if they find suspicious things on your every transaction. Especially if you are into gambling, they will not allow that transaction.
i think its for alternative usage...to save time!!!
opening multi bitcoin wallets will took much time rather than just having one especially if the money were distributed into a different wallet,so saving time is really wrong,i guess it's for a security reason just like what people said,don't save all of your money in the same placeIt needs to check blocks, which is very time consuming with Bitcoin core.
And imagine what a hassle you need to go through when you have many different wallet files that you use quite frequently.
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