Why do people use so many Bitcoin wallets? - page 42.

Imoote

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Quote from: Aamir1 on February 19, 2016, 12:52:29 PM

Quote from: Flash1997 on February 18, 2016, 02:37:57 PM

I only use 1 wallet and that is on blockchain.info , never had any problem with them and now they look even better

That is really risky, don't store all your bitcoins in one wallet, try to keep them in different places so that you don't lose all the coins in case something happens to the wallet or blockchain.

Why not retain all bitcoin in the same place? What will the impact be?
Because I think it is still safe and I do not know what will happen if bitcoin stores all in one wallet.

Aamir1

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Quote from: Flash1997 on February 18, 2016, 02:37:57 PM

I only use 1 wallet and that is on blockchain.info , never had any problem with them and now they look even better

That is really risky, don't store all your bitcoins in one wallet, try to keep them in different places so that you don't lose all the coins in case something happens to the wallet or blockchain.

ShrykeZ

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I use different wallets on different devices, these wallets are usually the light weight variants.

Flash1997

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I only use 1 wallet and that is on blockchain.info , never had any problem with them and now they look even better

Cabapzarf

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I only use the Core wallet. It can serve all the purpose and I don't make too many transactions. I let it connect to the network most of the time.

Duomo

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☃

It really depends on your usage of bitcoin. If you don't generally do daily transactions, Bitcoin-Core-QT is the original "satoshi" wallet and it would be preferable. The downside is that basically you would have to wait until the full block-chain syncs. This can be a serious and major problem if you haven't opened your wallet for a few days. There are other wallets such as Electrum and Multi-bit HD which don't require the entire blockchain to download. These are the preferred wallets if you do transactions day to day. Both of these have a "wallet seed" so basically you can restore you coins at anytime even if you computer fails. You would just need those words associated in your "wallet seed" to recover your wallet. There are many different applications of wallets due the preferences and needs of different bitcoin users.

nanonymousx

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Probably because each wallet has few advantages in itself, for example electrum and multibit are faster but less secure, Armory but more care of security on the other side... So each wallet for each advantage.

wikenpp

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People use it because it is easy to use. I think many people with Bitcoin use Bitcoin wallets, because it has a fast transaction too.
The transaction is very cheap in comparison with a normal bank. Banks hate online wallets because the online wallets are much cheaper.

blackmachinegun

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Quote from: gilangIDR on February 13, 2016, 11:57:06 PM

Quote from: Your Point Is Invalid on February 13, 2016, 09:34:31 PM

People use many different wallets and addresses for privacy, people don't want to get tagged to one address, it makes you less anonymous, every few months or so i change my main addresses (but I keep the private keys from the old ones so I can sign a message if the need arises).

yes sometimes with one address one's wallet will be easier to see their wealth. and it is a very great privacy.

I think people use many wallets. does not mean using multiple addresses, because you can make many addresses in one wallet, this means making many purses, not about privacy.

TrueCryptoinere

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I think this is probably because each wallet has an advantage in itself, Using electrum or multibit for example is fast and easy, Other wallets like Armory might be made with security as the main concern and the like.

Junko

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Multiple bitcoin wallets helps me manage and budget my bitcoins. I have a cold wallet for long term savings named 401k, a wallet for trading named 401t, one for gambling: 401g, a wallet for general spending, 401s, and a wallet called 401m for miscellaneous/everything else. And then I have another old wallet that I still have which I used for collecting from faucets, Crowdflower work, Bitcoin Pyramid, ect.

PacePay

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In order to hide their transactions from public, as all the transactions can be seen online to anyone so people do not want to show their money online and they do not show that how much amount is collected to their wallet or how much they can spend. in order to stay safe from hackers and thieves. So for this they use different bitcoin addresses.

martinacar

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The people are using multiple wallets because its more secure for their bitcoins and you will not lose all your coins at once.
That's the main reason why people are using multiple wallets, plus its also nice that you can not spend your bitcoins at once that would be stupid also.

avikz

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

Just wondering why people use so many Bitcoin wallets.

I think it's a good idea to use more than two bitcoin wallets. Diversification is always a good thing when money comes in to the picture. If you keep all your bitcoin in a single place, you are at high risk of loosing money. So instead of having only one wallet, it's wiser to use more than two wallets and keep portions of your total bitcoin in all the wallets.

This way you can save yourself in case of any unforeseen event.

sishendaoye

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People use so many wallets because they want to be secured, so they can not lose it all. Its also the best way you can have to secure your wallet, use multiple wallets and 2 way auth.

martinacar

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People like to use a lot more convenient. Namely because it works very nice.
Paying via an online wallet is also much easier and that is in fact nicer to work with it

blackmachinegun

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Quote from: zeaderza on February 14, 2016, 10:17:47 AM

People use many bitcoin wallet for safe.
IF you use only a wallet is a risk to lose your bitcoin.

very true, if you using just one wallet. its very risky to you all money will be lost. if you wallet get hacked of course all of you money will be lost, so thats why using many wallet which smaller the risk

diegz

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Quote from: blackbird307 on February 14, 2016, 12:05:34 PM

People use as many wallets as they need. Why wouldn't they? They pay the fees if necessary so it's okay.

Yeah, that is true,, they are the one's paying it..besides, it is much safe if we are using many wallets than just one..

y8tvkid

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Quote from: blackbird307 on February 14, 2016, 12:05:34 PM

People use as many wallets as they need. Why wouldn't they? They pay the fees if necessary so it's okay.

Yes, nothing wrong in having many wallets, as different people thinks differently and they take decisions according to their needs and their comfort so its better to have multiple wallets.

blackbird307

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People use as many wallets as they need. Why wouldn't they? They pay the fees if necessary so it's okay.

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