Why do people use so many Bitcoin wallets? - page 26.

malmoghetto

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Quote from: diodio5 on August 30, 2016, 06:06:03 AM

Quote from: Hashminers on August 30, 2016, 05:40:47 AM

people are using so many bitcoins wallets just because they dont want to have all of their coins just in one wallet because not every wallet is very trusted by people so that is why they use more wallets to be sure that not everything can be stolen.

yeah maybe people do not believe in a wallet ot they just avoid theft great. because if you keep all of your money in one wallet
of course it would be very risky when your wallet in the hack. so it would be better if you use a lot of wallets

There is an old saying: don't put all your eggs in one basket. This is suitable in bitcoin community, we have mtgox, mintpal, cryptsy, bitfinex hacks, or down eventually, the clients got screwed by them and lost money, so don't just put your btc in a wallet, make deposit on more wallets, this is very secure way to avoid one wallet site be compromised

skysblu

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Quote from: Hashminers on August 30, 2016, 05:40:47 AM

people are using so many bitcoins wallets just because they dont want to have all of their coins just in one wallet because not every wallet is very trusted by people so that is why they use more wallets to be sure that not everything can be stolen.

thats true, it is way safer to have bitcoins in several wallets because if one gets hacked then you wouldnt lose all the funds you already have

Golfimbul

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maybe they're having so many bitcoin wallets for the anonimity,so no one can trace how much the exact amount of bitcoin they owned

Cuhua-hua

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Quote from: shinscarlet on August 30, 2016, 08:49:04 AM

because don't put all of your money in the same bag,divide it,and when one lost,the rest still there

Very true, for security reasons and also the rest of the bitcoin. So a lot of people who have a lot of wallets bitcoin. I see indeed now there are still a few things that are less than the wallet bitcoin (online) namely often happens online bitcoin wallet hacking and if we don't have a lot of wallets all our funding will be lost and we can't do anything

shinscarlet

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because don't put all of your money in the same bag,divide it,and when one lost,the rest still there

Dr.Osh

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Quote from: diodio5 on August 30, 2016, 06:06:03 AM

Quote from: Hashminers on August 30, 2016, 05:40:47 AM

people are using so many bitcoins wallets just because they dont want to have all of their coins just in one wallet because not every wallet is very trusted by people so that is why they use more wallets to be sure that not everything can be stolen.

yeah maybe people do not believe in a wallet ot they just avoid theft great. because if you keep all of your money in one wallet
of course it would be very risky when your wallet in the hack. so it would be better if you use a lot of wallets

Agree, it the common way in otder to securing your bitcoin. Due to every wallet has the difference on their security, so people using so many wallets and not put all eggs in one basket. When only one wallet get hacked, you still have anothers to saving your bitcoin. Or else, so far you know which wallet is the secure one, and can put in it mostly of your btc.

delliaerd

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Quote from: Hashminers on August 30, 2016, 05:40:47 AM

people are using so many bitcoins wallets just because they dont want to have all of their coins just in one wallet because not every wallet is very trusted by people so that is why they use more wallets to be sure that not everything can be stolen.

the most of them making a lot of bitcoin address not to looking for the safest wallet. when you think they make some wallet in many provider wallet bitcoin service to search which most secure while they was found the best secure bitcoin wallet they will stop use the other and focus use the best choosen. in my point of view why the people make few wallet is they want to manage their bitcoin in segmen. the examples one wallet especially for trading, and one other to receive payment from signature campaign.

yueno

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Yueno

I think because they have many investment and they are secure in their investment. Also I think that they only want to feel secure their money from hacker. Otherwise they use it for converting bitcoin into real cash. Just like coins.ph, rebit.ph when you have also blockchain account.

dEJAVU95

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for me to use a lot wallet because I have some special wallet. such as for playing gambling or signature campaign. because if I save it all in one wallet I was worried all gone because of gambling

Trustme2016

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For me that is not bad at all because sometimes you need to do a quick & urgent online payment here you need to have online wallet as well as blockchain.info or other trusted sites but do not forget to enable 2 factor authentication. For long time investing & holding here you need to have paper-wallet or offline USB encrypt wallet.

diodio5

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Quote from: Hashminers on August 30, 2016, 05:40:47 AM

people are using so many bitcoins wallets just because they dont want to have all of their coins just in one wallet because not every wallet is very trusted by people so that is why they use more wallets to be sure that not everything can be stolen.

yeah maybe people do not believe in a wallet ot they just avoid theft great. because if you keep all of your money in one wallet
of course it would be very risky when your wallet in the hack. so it would be better if you use a lot of wallets

Hashminers

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people are using so many bitcoins wallets just because they dont want to have all of their coins just in one wallet because not every wallet is very trusted by people so that is why they use more wallets to be sure that not everything can be stolen.

twa

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Well probably because there are many different ones, and each of them are different, so it is not a surprise that people uses ones that they like most

1Referee

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Quote from: ajun96 on August 29, 2016, 08:47:47 PM

Quote from: randy8777 on August 29, 2016, 11:52:54 AM

Quote from: prtty2gal2 on August 29, 2016, 11:40:36 AM

Quote from: lienfaye on August 29, 2016, 08:45:22 AM

Quote from: agamasrori on August 28, 2016, 06:43:53 AM

Saving bitcoin in many wallet is for security. And if you use many wallet you will know which is the best wallet to save bitcoin. For me the best wallet is blockchain.

Yes, you will come to know what is the best if you try different wallet. i also use few wallets and because of that i know what is the best suits me. its also for the safety of my bitcoin so its fine to be choosy.

Many different wallets for many purposes and for security. Hardware wallets for long-term safe keeping. Online wallets for small and frequent fee-free transactions.
You can not just settle for only one wallet because if you lose that very wallet, then all of your bitcoins are gone.

you don't purely need hardware wallets for long term storage. something simple as a paper wallet does the work also in a very good manner. just make sure you seal it in plastic, and you're ready.

I think it should not be too confused to save bitcoin safely. You do not need to turn it into a paper wallet. you just need to put it into the wallet as usual and add some authentication. I think with that you do not have to worry about the security and you do not need to use a lot of wallets

Yup, paper wallets are also nothing more than an optional way of storing coins. And then you have the problem that when some one is finding your paper wallet, that the person in question can access the coins and send them to his own address. I personally store my wallet files on USB drives. Every wallet file is secured with a very lengthy string of symbols, letters, numbers, etc. My cold wallets are even encrypted above the already strong passwads. So even if the wallet files are found by some one, then it's still a worthless piece of data to them. Grin

Antonio G.

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I use only 2 wallets - on my PC and on my phone. But I'm still a beginner maybe in the future I'll need to use more wallets

icecube45

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People use many bitcoin wallet may have a different purpose be different. If I have a lot wallet just for the sake of security. I have walletmasing one specially for the signature campaign and investment / trading. Then I also have my bitcoin wallet to store.

bravehearth0319

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Quote from: BrewMaster on August 30, 2016, 01:37:23 AM

Quote from: dearbesz1219 on August 30, 2016, 01:31:08 AM

Maybe it one of their way to secure there BTC. Even me I'm not using one only, but multiple addresses, like bitcoin core, multiple hd.,and some are legit exchange platform 1 merchant here in my country who accepted bitcoin. I'm doing because just in case problems comes in the wallet addresses that I made I still have more bitcoins that put in other wallet address.

that must be it.
i for example am using two different bitcoin wallets one of them is blockchain.info as my primary wallet which is also online.
and the other one is a paper wallet that i only deposit bitcoin to, in order to keep it for a couple of years.

Yes! you are correct and nice idea of yours by doing that things. Its just a like your keeping your money in different banks. Because every wallet is equivalent of bank company.

bravehearth0319

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Quote from: justspare on December 10, 2015, 03:14:46 AM

Just wondering why people use so many Bitcoin wallets.

Actually there are lots of bitcoin wallet that we can put in. Now majority of the community in crypto currency they used multiple wallet address of Bitcoin. Such as; Different exchange platform, xapo wallet, blockchain, coinbase, Bitcoin core, and multiple hd.

BrewMaster

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Quote from: dearbesz1219 on August 30, 2016, 01:31:08 AM

Maybe it one of their way to secure there BTC. Even me I'm not using one only, but multiple addresses, like bitcoin core, multiple hd.,and some are legit exchange platform 1 merchant here in my country who accepted bitcoin. I'm doing because just in case problems comes in the wallet addresses that I made I still have more bitcoins that put in other wallet address.

that must be it.
i for example am using two different bitcoin wallets one of them is blockchain.info as my primary wallet which is also online.
and the other one is a paper wallet that i only deposit bitcoin to, in order to keep it for a couple of years.

dearbesz1219

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Maybe it one of their way to secure there BTC. Even me I'm not using one only, but multiple addresses, like bitcoin core, multiple hd.,and some are legit exchange platform 1 merchant here in my country who accepted bitcoin. I'm doing because just in case problems comes in the wallet addresses that I made I still have more bitcoins that put in other wallet address.

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