Why do people use so many Bitcoin wallets? - page 36.

bitcoinhopper

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Quote from: fruitcommander on March 08, 2016, 11:17:07 AM

Quote from: lixer on March 08, 2016, 11:14:32 AM

Quote from: dhimasnk on March 05, 2016, 11:53:05 PM

Maybe they think using many bitcoin
address then the transaction will be
more secure

There are many reasons behind using of so many wallet, some people use many wallets because the not satisfied with only one wallet, many poeple use multiple wallet for just secure their money to playing with many wallets, because if we store all our money in one wallet, and it got hacked then we loose our all money, so using multiple wallets secure us by loosing money.

Its always good to have multiple wallets, and people use it as different wallets have different features and security measures, but I don't think that its easy to hack bitcoin wallets.

Yes they use it because it is easy to use and that is very good. I hope that more people will use it and that will be very good.
But it must also be more used that is also very important. But that will happen the world is becoming more digital so that is good.

bitcoin-hunter

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Quote from: quentincole32 on March 08, 2016, 12:35:32 AM

Quote from: BTCLovingDude on March 08, 2016, 12:02:34 AM

Quote from: crossabdd on March 07, 2016, 10:42:42 PM

Quote from: darewaller on March 07, 2016, 01:11:15 PM

Quote from: bL4nkcode on March 05, 2016, 11:59:14 PM

I think using many bitcoin wallets is for security and if you had 1 wallet only has disadvantage
ex. When you only have 1 wallet and got hack and all your funds are there so there will no left for you instead if you have 2 or 3 more wallets you can divide your funds in there

Security is the main purpose behind the use of many Bitcoin wallets. Yes it is very risky to collect all of your bitcoins in a single wallet because anything can happen so most of the bitcoiners use more than one wallet so that they can divide their Bitcoins which can increase the security of their coins. Using more wallets is a great way to secure your money.

My experience, my blockchain, stellar wallet (altcoin) , exchanger wallet,get hacked but my xapo wallet still safe. now im use more wallet to save my bitcoin, blockhain, xapo, coinbase, paperwallet, block.io, electrum, mycellium.

why did they get hacked? was it a weak password or malware infection like key logger?

i think only one or two wallet(s) is enough. one offline as cold storage and one online as a hot wallet. then there is no way they get hacked!

Yeah I think two wallet are enough, one paper wallet and one online wallet, too many wallets is hard to manage.
The only thing make your bitcoin wallet get hacked is your weak security, using paper wallet sure will hard to hacked and for online wallet use 2fa are the best way to avoid hacker touch your wallet.

They use it indeed, because it is very easy to use and it is nice to use it. Many people that use Bitcoin use some Bitcoin wallets.
It is also very safe and secure and that is very good. We all hope that more people will use it in the future.

LiberOptions

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I do have a lot of wallets that come in handy in the right time.
So if you want to hold your coins for a long time you'll use a hard wallet or a paper wallet, on the other hand you will need your everyday wallet to spend your coins as well.

Avirunes

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Well different bitcoin wallets has different advantages ,so i think they have valid reason of holding multiple wallets.Also most of us use paper wallet to save up BTC to use up in emergency or later convert it when in price increase.So i think most of the users has one wallet to send/receive coins for spending purpose and one to save up.well people have different choices as some use web wallets like xapo or coinbase to save up fees while some use the desktop wallet as it is easy to access and data remains in their computer.

BTCBinary

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I guess that is a whole lot of reasons for using different wallets and different addresses.
A simple example would be; you have a blockchain.info wallet as a web wallet to pay for things online which has its own address, while you can have a mobile wallet on your smartphone to pay for things in physical stores.

Crazygreek

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Because it is comfortable. You're making a new wallet for any payment, and as if payments happen regularly (mining etc), you perfectly know where your payments come from. This is a useful feature.

umaOuma

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Quote from: sallymeeh27 on March 08, 2016, 11:20:07 AM

The only main reason use so many bitcoin wallets, this is for security and safety purposes. They do not want to let all their earning or money be saved in one wallet or maybe they differentiate their earnings from one wallet to another. Its just having not just one savings account or using different credit cards..

Safety of bitcoins is major concern as no one wants that their bitcoins should be lost or gets stolen by hackers and scammers, its good to have multiple wallets, as different wallets have some unique feature.

crossabdd

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Quote from: BTCLovingDude on March 08, 2016, 12:02:34 AM

why did they get hacked? was it a weak password or malware infection like key logger?

i think only one or two wallet(s) is enough. one offline as cold storage and one online as a hot wallet. then there is no way they get hacked!

Im instal not trusted app, bitcoinhacker, bitcoin genetor etc.
Im use same password for my blockchain wallet and email. that's why hacker can aces my wallet.

Quote from: quentincole32 on March 08, 2016, 12:35:32 AM

Yeah I think two wallet are enough, one paper wallet and one online wallet, too many wallets is hard to manage.
The only thing make your bitcoin wallet get hacked is your weak security, using paper wallet sure will hard to hacked and for online wallet use 2fa are the best way to avoid hacker touch your wallet.

for online wallet, i suggest you to use 3rd part like coinbase or Xapo.

sallymeeh27

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The only main reason use so many bitcoin wallets, this is for security and safety purposes. They do not want to let all their earning or money be saved in one wallet or maybe they differentiate their earnings from one wallet to another. Its just having not just one savings account or using different credit cards..

fruitcommander

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Quote from: lixer on March 08, 2016, 11:14:32 AM

Quote from: dhimasnk on March 05, 2016, 11:53:05 PM

Maybe they think using many bitcoin
address then the transaction will be
more secure

There are many reasons behind using of so many wallet, some people use many wallets because the not satisfied with only one wallet, many poeple use multiple wallet for just secure their money to playing with many wallets, because if we store all our money in one wallet, and it got hacked then we loose our all money, so using multiple wallets secure us by loosing money.

Its always good to have multiple wallets, and people use it as different wallets have different features and security measures, but I don't think that its easy to hack bitcoin wallets.

lixer

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Quote from: dhimasnk on March 05, 2016, 11:53:05 PM

Maybe they think using many bitcoin
address then the transaction will be
more secure

There are many reasons behind using of so many wallet, some people use many wallets because they not satisfied with only one wallet in terms of convenience, user interface and features. I also in search of more featured wallet.

steveds

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Quote from: BTCLovingDude on March 08, 2016, 12:02:34 AM

Quote from: crossabdd on March 07, 2016, 10:42:42 PM

Quote from: darewaller on March 07, 2016, 01:11:15 PM

Quote from: bL4nkcode on March 05, 2016, 11:59:14 PM

I think using many bitcoin wallets is for security and if you had 1 wallet only has disadvantage
ex. When you only have 1 wallet and got hack and all your funds are there so there will no left for you instead if you have 2 or 3 more wallets you can divide your funds in there

Security is the main purpose behind the use of many Bitcoin wallets. Yes it is very risky to collect all of your bitcoins in a single wallet because anything can happen so most of the bitcoiners use more than one wallet so that they can divide their Bitcoins which can increase the security of their coins. Using more wallets is a great way to secure your money.

My experience, my blockchain, stellar wallet (altcoin) , exchanger wallet,get hacked but my xapo wallet still safe. now im use more wallet to save my bitcoin, blockhain, xapo, coinbase, paperwallet, block.io, electrum, mycellium.

why did they get hacked? was it a weak password or malware infection like key logger?

i think only one or two wallet(s) is enough. one offline as cold storage and one online as a hot wallet. then there is no way they get hacked!

Nothing of what you said could avoid any types of hacks.However,most of the people who maintain multiple wallets do so to confuse people or create certain level of difficulty for those who wish to track them.

Wallets can get hacked or coins be stolen regardless of they are in a cold or hot wallet but it solely depends on how much security measures you took.

Quote from: blackmachinegun on March 08, 2016, 02:08:33 AM

is it possible using many wallet prevent us from wallet explorer ?

I never believed that site but yes if you use one address per wallet then its possible.

blackmachinegun

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Quote from: n0ne on March 05, 2016, 11:58:44 PM

The reason behind the usage of various wallets is to make transactions much secure and anonymous.

is it possible using many wallet prevent us from wallet explorer ? because anyone can see my address to another address associated with it that way .. so if you use a lot wallet can avoid it. I will use and take advantage of this way

quentincole32

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Quote from: BTCLovingDude on March 08, 2016, 12:02:34 AM

Quote from: crossabdd on March 07, 2016, 10:42:42 PM

Quote from: darewaller on March 07, 2016, 01:11:15 PM

Quote from: bL4nkcode on March 05, 2016, 11:59:14 PM

I think using many bitcoin wallets is for security and if you had 1 wallet only has disadvantage
ex. When you only have 1 wallet and got hack and all your funds are there so there will no left for you instead if you have 2 or 3 more wallets you can divide your funds in there

Security is the main purpose behind the use of many Bitcoin wallets. Yes it is very risky to collect all of your bitcoins in a single wallet because anything can happen so most of the bitcoiners use more than one wallet so that they can divide their Bitcoins which can increase the security of their coins. Using more wallets is a great way to secure your money.

My experience, my blockchain, stellar wallet (altcoin) , exchanger wallet,get hacked but my xapo wallet still safe. now im use more wallet to save my bitcoin, blockhain, xapo, coinbase, paperwallet, block.io, electrum, mycellium.

why did they get hacked? was it a weak password or malware infection like key logger?

i think only one or two wallet(s) is enough. one offline as cold storage and one online as a hot wallet. then there is no way they get hacked!

Yeah I think two wallet are enough, one paper wallet and one online wallet, too many wallets is hard to manage.
The only thing make your bitcoin wallet get hacked is your weak security, using paper wallet sure will hard to hacked and for online wallet use 2fa are the best way to avoid hacker touch your wallet.

jerowacik

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as with many wallet will facilitate our financial transactions. we can maintain the privacy of hacker attacks. could limit the number of bitcoin is in our main wallet.

BTCLovingDude

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Quote from: crossabdd on March 07, 2016, 10:42:42 PM

Quote from: darewaller on March 07, 2016, 01:11:15 PM

Quote from: bL4nkcode on March 05, 2016, 11:59:14 PM

I think using many bitcoin wallets is for security and if you had 1 wallet only has disadvantage
ex. When you only have 1 wallet and got hack and all your funds are there so there will no left for you instead if you have 2 or 3 more wallets you can divide your funds in there

Security is the main purpose behind the use of many Bitcoin wallets. Yes it is very risky to collect all of your bitcoins in a single wallet because anything can happen so most of the bitcoiners use more than one wallet so that they can divide their Bitcoins which can increase the security of their coins. Using more wallets is a great way to secure your money.

My experience, my blockchain, stellar wallet (altcoin) , exchanger wallet,get hacked but my xapo wallet still safe. now im use more wallet to save my bitcoin, blockhain, xapo, coinbase, paperwallet, block.io, electrum, mycellium.

why did they get hacked? was it a weak password or malware infection like key logger?

i think only one or two wallet(s) is enough. one offline as cold storage and one online as a hot wallet. then there is no way they get hacked!

crossabdd

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Activity: 1316

Merit: 1145

Quote from: darewaller on March 07, 2016, 01:11:15 PM

Quote from: bL4nkcode on March 05, 2016, 11:59:14 PM

I think using many bitcoin wallets is for security and if you had 1 wallet only has disadvantage
ex. When you only have 1 wallet and got hack and all your funds are there so there will no left for you instead if you have 2 or 3 more wallets you can divide your funds in there

Security is the main purpose behind the use of many Bitcoin wallets. Yes it is very risky to collect all of your bitcoins in a single wallet because anything can happen so most of the bitcoiners use more than one wallet so that they can divide their Bitcoins which can increase the security of their coins. Using more wallets is a great way to secure your money.

My experience, my blockchain, stellar wallet (altcoin) , exchanger wallet,get hacked but my xapo wallet still safe. now im use more wallet to save my bitcoin, blockhain, xapo, coinbase, paperwallet, block.io, electrum, mycellium.

darewaller

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Quote from: bL4nkcode on March 05, 2016, 11:59:14 PM

I think using many bitcoin wallets is for security and if you had 1 wallet only has disadvantage
ex. When you only have 1 wallet and got hack and all your funds are there so there will no left for you instead if you have 2 or 3 more wallets you can divide your funds in there

Security is the main purpose behind the use of many Bitcoin wallets. Yes it is very risky to collect all of your bitcoins in a single wallet because anything can happen so most of the bitcoiners use more than one wallet so that they can divide their Bitcoins which can increase the security of their coins. Using more wallets is a great way to secure your money.

praprata

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I think most of use use several wallets for several occasions.
I have 1 for daily spending (blockchain) and I use 1 wallet for my savings. There are my most bitcoins and they are safely stored on my trezor.

Mickeyb

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Quote from: breakers11 on March 06, 2016, 01:20:48 PM

Quote from: dhimasnk on March 05, 2016, 11:53:05 PM

Maybe they think using many bitcoin
address then the transaction will be
more secure

I also think the same reason behind this. More address may be easy for fast transactions.

First you can send transaction to multiple addresses at once. And second , we are talking about wallets here not addresses.

Topic: Why do people use so many Bitcoin wallets? - page 36. (Read 51715 times)