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Topic: Why do people use so many Bitcoin wallets? - page 39. (Read 51715 times)

full member
Activity: 224
Merit: 100
February 25, 2016, 06:23:19 PM
I think companies like coinbase use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.
Yes but for us ordinary bitcoin users why should coined many bitcoin wallet?
I still do not understand what is the reason.
because for safety mate. most people say that. you will not lose all your money, if one day the purse was hacked.

Yeah, and its better to have multiple wallets rather then having a single, because having multiple wallets will diversify your risk, even if your one wallet gets hacked rest of them are safe.
sr. member
Activity: 476
Merit: 250
February 25, 2016, 06:10:58 PM
I think companies like coinbase use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.
Yes but for us ordinary bitcoin users why should coined many bitcoin wallet?
I still do not understand what is the reason.
because for safety mate. most people say that. you will not lose all your money, if one day the purse was hacked.
full member
Activity: 182
Merit: 100
February 25, 2016, 05:54:42 PM
People have fear of loosing their bitcoins if they are stored in a single wallet, they have a fear of hackers and scammers and that is the reason they are using multiple wallets.
hero member
Activity: 1204
Merit: 505
February 25, 2016, 02:32:15 PM
everyone has their own interests. if I choose to have my privacy is maintained. so that the funds that I have not been exposed widely.
yeah everyone has their own opinion. I myself use two wallet, only to variations in electrum and blockchain
I think one wallet for one crypto currency is enough. I have joined many walletes but just for checking which one is better. finally I found xapo is finest wallet for bitcoin. I am using xapo only now..
The only reason of using multiple bitcoins wallets is security. People do not want to keep all their hard earned bitcoins in one wallet.They split their bitcoins in different wallets, so that even if one wallet is hacked, they dont loose all of their coins. So, you need to consider your opinion.
hero member
Activity: 1134
Merit: 515
February 25, 2016, 09:04:34 AM
everyone has their own interests. if I choose to have my privacy is maintained. so that the funds that I have not been exposed widely.
yeah everyone has their own opinion. I myself use two wallet, only to variations in electrum and blockchain
I think one wallet for one crypto currency is enough. I have joined many walletes but just for checking which one is better. finally I found xapo is finest wallet for bitcoin. I am using xapo only now..
legendary
Activity: 840
Merit: 1000
February 25, 2016, 04:52:21 AM
Just wondering why people use so many Bitcoin wallets.

because people want to know which bitcoin wallet is better then other. I have also joined many bitcoin wallets for checking their quality
legendary
Activity: 3500
Merit: 2246
🌀 Cosmic Casino
February 25, 2016, 04:31:51 AM
I think companies like coinbase use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.
Yes but for us ordinary bitcoin users why should coined many bitcoin wallet?
I still do not understand what is the reason.

Well, you know they say "Don't put all your eggs in one basket", may that's why they are using many different wallets. Idk, I used to have two wallets some time ago and now I have only one. Time will tell who's right though.
sr. member
Activity: 714
Merit: 250
February 25, 2016, 12:15:15 AM
I think companies like coinbase use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.
Yes but for us ordinary bitcoin users why should coined many bitcoin wallet?
I still do not understand what is the reason.
sr. member
Activity: 476
Merit: 250
U will never know the true answer, before you try
February 24, 2016, 09:54:11 PM
I think companies like coinbase use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.

NO one can track the amount of acustomer deposit? sure ? Roll Eyes
http://cointelegraph.com/news/coinbase-is-tracking-how-users-spend-their-bitcoins
hero member
Activity: 1190
Merit: 500
February 24, 2016, 09:15:05 PM
everyone has their own interests. if I choose to have my privacy is maintained. so that the funds that I have not been exposed widely.
yeah everyone has their own opinion. I myself use two wallet, only to variations in electrum and blockchain
hero member
Activity: 1008
Merit: 510
February 24, 2016, 09:13:05 PM
I think companies like coinbase use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.
hero member
Activity: 854
Merit: 1009
JAYCE DESIGNS - http://bit.ly/1tmgIwK
February 24, 2016, 08:46:47 PM
Just wondering why people use so many Bitcoin wallets.

Well for me it's because multibit HD just says that after receiving 1 transaction in a wallet.
The wallet is not safe anymore and I should use a new wallet.

Also downloaded Electrum today and I must say it is working quite well.
Only confusing for me is the transaction cost are quite high.

its the address to be not reused not the wallet. The wallet has hardly anything to do with eachother.

Electrum is lightweight and easier to use, make sure you remember the seed.
legendary
Activity: 1526
Merit: 1001
February 24, 2016, 08:39:48 PM
everyone has their own interests. if I choose to have my privacy is maintained. so that the funds that I have not been exposed widely.
newbie
Activity: 13
Merit: 0
February 24, 2016, 08:17:51 PM
I'm not entirely sure why people use so many wallets, but I only use one. I guess they have their reasons to do so.
member
Activity: 68
Merit: 10
February 24, 2016, 08:04:55 PM
Just wondering why people use so many Bitcoin wallets.
  why do we have so many different brands offering almost the same products.
It is same story with bitcoin wallets, users have the abitlity to choose wallet based on their personal preferences,
online wallet, local wallet, wallet with SPV or full validation etc. It is all about choices.  Wink
sr. member
Activity: 434
Merit: 511
February 24, 2016, 06:00:53 PM
Just wondering why people use so many Bitcoin wallets.

Well for me it's because multibit HD just says that after receiving 1 transaction in a wallet.
The wallet is not safe anymore and I should use a new wallet.

Also downloaded Electrum today and I must say it is working quite well.
Only confusing for me is the transaction cost are quite high.
hero member
Activity: 854
Merit: 1009
JAYCE DESIGNS - http://bit.ly/1tmgIwK
February 24, 2016, 05:56:28 PM
privacy, or just comfort.

I like to have many wallets each one for different purposes, to not confuse their roles.
sr. member
Activity: 714
Merit: 250
February 24, 2016, 09:58:28 AM
There are basically two reasons for that 1) because some people want to stay anonymous and 2) because some people scam others and want them to not catch them with linked or old address. Others reasons seems highly unlikely to be real.
your two reasons are basically mean only one thing. Staying anonymous. Other than this, security in the foremost needed thing for every bitcoiner for which we are in need of more wallets and addresses.
But I think using one bitcoin wallet was safe enough because I think security has been maintained safely.
Then why should have two bitcoin wallet if one alone is safe?
legendary
Activity: 3710
Merit: 1170
www.Crypto.Games: Multiple coins, multiple games
February 22, 2016, 02:27:41 PM
There are basically two reasons for that 1) because some people want to stay anonymous and 2) because some people scam others and want them to not catch them with linked or old address. Others reasons seems highly unlikely to be real.
your two reasons are basically mean only one thing. Staying anonymous. Other than this, security in the foremost needed thing for every bitcoiner for which we are in need of more wallets and addresses.
legendary
Activity: 1204
Merit: 1028
February 22, 2016, 02:21:56 PM
There are basically two reasons for that 1) because some people want to stay anonymous and 2) because some people scam others and want them to not catch them with linked or old address. Others reasons seems highly unlikely to be real.
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