Why do people use so many Bitcoin wallets? - page 32.

Ryananda

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Quote from: Supercrypt on May 10, 2016, 11:36:54 AM

Quote from: AlexBits on May 10, 2016, 02:35:32 AM

Thats because many people don't want to lose their coins so they store them in many wallets.
Such as you have many bank accounts because you don't trust to have everything on just one bank.

That's right. We don't want to store all our bitcoins in just one single wallet because if we lose that one single wallet, we lose everything. As for me, I use multiple wallets for 2 different reasons. One type of wallet (cold storage) for holding on to bitcoins and another (hot storage) for regular transactions.

Yes true maybe it is a little complicated but it is useful for security bitcoin on our wallets. It was a great way. We should be careful because if we lose our bitcoin wallet will also lose all bitcoin we got and it will make useless.

Supercrypt

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Quote from: AlexBits on May 10, 2016, 02:35:32 AM

Thats because many people don't want to lose their coins so they store them in many wallets.
Such as you have many bank accounts because you don't trust to have everything on just one bank.

That's right. We don't want to store all our bitcoins in just one single wallet because if we lose that one single wallet, we lose everything. As for me, I use multiple wallets for 2 different reasons. One type of wallet (cold storage) for holding on to bitcoins and another (hot storage) for regular transactions.

AlexBits

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Thats because many people don't want to lose their coins so they store them in many wallets.
Such as you have many bank accounts because you don't trust to have everything on just one bank.

Cyaren

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To cover up their trail of activity, perhaps. You have to know that bitcoin isn't 100% anonymous, although it's a lot better than the traditional banking system.

Thus there are also mixers, which just does the job a bit better than if you do it yourself.

mcfom

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I am using bitcoin core wallet and coinbase online wallet, i think it is good to keep coins on different places and it is more secure than.

amiryaqot

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By using multiple wallet i have so many benefits mostly i depend how we want to use our coins there, for cold storage i have totally different place to store my coins and never mixed them with my coins which i keep for my online activities such as gambling and trading, i think using multiple wallets provide us great security there.

Sandroxa

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People is using the Bitcoin wallets because it is easy to store the coin on the wallet and that is nice and it is also many used by many people and that is perfect for the wallet.
You also can see now that it becomes now more used because more people will get to know about it and that is perfect.

praprata

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Quote from: justspare on December 10, 2015, 02:14:46 AM

Just wondering why people use so many Bitcoin wallets.

People do this because there is a chance that you will get hacked so if someone gets hacked they always have some wallets left with Bitcoins.
They do this so they will not lose everything at once.

wildan88

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Quote from: bias on May 10, 2016, 12:35:37 AM

Quote from: ajun96 on May 09, 2016, 10:29:37 PM

Quote from: crossabdd on May 07, 2016, 12:53:29 PM

personally I just want to avoid things that would not be unexpected, such as stolen, or disruption when we need.

I think even if you use a lot of the purse will not prevent you from possible for hack?
the difference is only chance all your bitcoin stolen will be lower. but the possibility of stolen will remain
there as long as you use a wallet and uses no authentication

HAVING MORE THAN TWO WALLETS IS A PRUDENT WAY OF SAFE GUARDING WHAT YOU HAVE SAVED SIMPLE Wink

yeah the point is to have more than two wallet is a safe way, although it does not guarantee it is safe from hacking.
but I know blockchain.info difficult to be hacked, I myself use the already quite long and very safe. if hacked mean it is your carelessness.

Doms

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I only learned about the advantages of using multiple wallets a couple of weeks ago. I learned that I have to have separate wallets for sending, receiving, and bills payments. That way, I could lessen the risk of theft and I could put my BTC in several wallets to spread out my eggs in several baskets, so to speak.

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= jasad =

Quote from: justspare on December 10, 2015, 02:14:46 AM

Just wondering why people use so many Bitcoin wallets.

the main reason is,security and wallet quality,i think that 2 are the most common reason why people use so many bitcoin wallet.
security,they want the best security bitcoin wallet,and use on or two wallet to find the best wallet who have best security.
quality,they must be find best quality wallet,fee of transaction,easy to generating address,and some people want fast bitcoin wallet for faster transactions.

blackmachinegun

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Quote from: dhimasnk on May 08, 2016, 06:00:32 AM

perhaps, they think that by using many bitcoin wallet then their transactions will be safe

the possibility of losing everything will be smaller. but note that you must create a different password for each wallet. This avoids losing all the money. more secure? yeah maybe I can say it like that?
but maybe it would be a little complicated?

bias

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Quote from: ajun96 on May 09, 2016, 10:29:37 PM

Quote from: crossabdd on May 07, 2016, 12:53:29 PM

personally I just want to avoid things that would not be unexpected, such as stolen, or disruption when we need.

I think even if you use a lot of the purse will not prevent you from possible for hack?
the difference is only chance all your bitcoin stolen will be lower. but the possibility of stolen will remain
there as long as you use a wallet and uses no authentication

HAVING MORE THAN TWO WALLETS IS A PRUDENT WAY OF SAFE GUARDING WHAT YOU HAVE SAVED SIMPLE Wink

ajun96

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Quote from: crossabdd on May 07, 2016, 12:53:29 PM

personally I just want to avoid things that would not be unexpected, such as stolen, or disruption when we need.

I think even if you use a lot of the purse will not prevent you from possible for hack?
the difference is only chance all your bitcoin stolen will be lower. but the possibility of stolen will remain
there as long as you use a wallet and uses no authentication

Xenophoto

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Quote

Why do people use so many bitcoin wallets?

Security is the main reason why people use 2-3 wallets instead of one. If one wallet gets hacked, then you only lose a portion of your total BTC while if you have only one wallet, once you get hacked, then all of your money will be gone.

Another thing is the unique service that a wallet website offers. Some wallet websites offer a service of reloading/top-up your phone by using bitcoins. We do have a wallet website like that, it's coins.ph

If USD is not the primary currency in your country, then you can use a local wallet website to convert your BTC to your local currency. You can as well withdraw it on your bank account if you use a local wallet.

Other wallets might offer more services but these are the things that I know why people use many bitcoin wallets.

Nimbulan

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Quote from: justspare on December 10, 2015, 02:14:46 AM

Just wondering why people use so many Bitcoin wallets.

i think it is because it is safer to use 2 or even 3 bitcoins instead of keeping everything in one wallet, for example if something happens to one wallet you can always instantly send your money to other one

i don't think that there are any other reasons why people does that, only for reason to save money in case something went wrong so you could save your bitcoin and not lose them

dhimasnk

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perhaps, they think that by using many bitcoin wallet then their transactions will be safe

senyorito123

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my wallet used

Coins.ph i used it if i want to cash out my btc to real money because this wallet is easy to use and no fee on cash out in atm machine.
Xapo i used it for farming on xapo game apps and im earning bitcoins here
Blockchain for anonimosity and i see it very safety to stock your btc

Thats the reason why im using multiple wallets.

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Each user finds something unique in every wallet they use. Just to experience the increased safety most use more than one or two wallets. I personally use locabitcoins and Blockchain.

MTBTT

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Quote from: crossabdd on May 07, 2016, 12:53:29 PM

personally I just want to avoid things that would not be unexpected, such as stolen, or disruption when we need.

I think to avoid things like that you do not need to create a wallet that much. you just simply provide more protection for every wallet. may I just suggest to make at least two wallet

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