It's always a good idea not to rely on one single point of failure. Better to spread the risk, preferably using cold storage or other secure wallets.
Budgeting could also be a reason as to why people use different wallets.
Topic: Why do people use so many Bitcoin wallets? - page 49. (Read 51694 times)
I am using one wallet for my phone one wallet for my tablet and one web wallet for when I am on the desktop.
using many Bitcoin wallet is to protect their Bitcoins and the wallets getting hacked, i use around more than 20 address from different wallets, in the hardware wallet i keep all my savings of Bitcoins which i dont touch, other some wallet i use for gambling and sports betting for that i have to use different wallets as i dont want my wallets to get hacked as their are some sites who are scammers and that we wont be knowing it for that safety it is good to keep different wallet for different purpose.
Honestly I do not understand about what you say it, what to do a lot of experience bitcoin will avoid any hacked?If the bitcoin address has been hacked rather than existing on the address will go missing too?
using many Bitcoin wallet is to protect their Bitcoins and the wallets getting hacked, i use around more than 20 address from different wallets, in the hardware wallet i keep all my savings of Bitcoins which i dont touch, other some wallet i use for gambling and sports betting for that i have to use different wallets as i dont want my wallets to get hacked as their are some sites who are scammers and that we wont be knowing it for that safety it is good to keep different wallet for different purpose.
maybe they think that if they do that they will be able to used bitcoin way more anonymously, i actually dont know any other things why would they do that
actually only a few people who take many bitcoin wallets. what he did with many wallets?whereas in the one wallet course you can wear many addresses and it's very anonymous
maybe they think that if they do that they will be able to used bitcoin way more anonymously, i actually dont know any other things why would they do that
yeah dude agree..im sure they use many address for anonymously like for example to make everyone dont know him..or maybe if that one wallet got stolen the other still can work and not all money got stolen..
I use multiple storage locations out of fear that if one of them ever were to be comprised (likely my own stupidity) i would only a fraction of my money
maybe they think that if they do that they will be able to used bitcoin way more anonymously, i actually dont know any other things why would they do that
Probably they thinking they will have many coins earned on exchanges, so better be prepared!
i don't know about others but i do use multiple wallets because of the features like manual transaction fees or userfriendly fecility. like if i am using mycelium wallet then i can't send miner fees manually but if i use blockchain wallet then i can do that
Its for the security you need for bitcoin, many people get hacked.
If one wallet website get hacked, you have another wallet as an backup.
Don't store all your bitcoins on one wallet.
If one wallet website get hacked, you have another wallet as an backup.
Don't store all your bitcoins on one wallet.
lol you said "wallet website"
Its for the security you need for bitcoin, many people get hacked.
If one wallet website get hacked, you have another wallet as an backup.
Don't store all your bitcoins on one wallet.
If one wallet website get hacked, you have another wallet as an backup.
Don't store all your bitcoins on one wallet.
I'm only using two wallet, I have cold wallets, wallets for spending, why because i need to be safe.
There could be several reasons for using multiple Bitcoin wallets. I use Mycelium on my Android phone cause it offers the ability of restoring the wallet with a seed and since my phone is portable it's easier to have it on the phone to transact on the go, whereas I use Electrum on my desktop. I don't like the electrum wallet for android cause it seems a bit too bad on the UI experience.
Apart from this other reasons could be because people prefer storing their Bitcoins on different wallets, just like some people have multiple bank accounts in different banks.
Apart from this other reasons could be because people prefer storing their Bitcoins on different wallets, just like some people have multiple bank accounts in different banks.
A couple spending wallets, one on each box and on mobiles when necessary.
Another medium sized wallet for refreshing the spending wallets, kept in reasonable state of offline-ness.
Cold storages I don't touch more than annually.
That's about it.
Another medium sized wallet for refreshing the spending wallets, kept in reasonable state of offline-ness.
Cold storages I don't touch more than annually.
That's about it.
I think it's because for safety. For me, i use so many bitcoin wallets because to seperate my main wallet with wallet for gambling. i mean, i have gambling habbit. so i need seperate wallet to limit it.
exactly. i have two wallets.
one of them is my cold storage where i store all my bitcoins that i don't want to touch for a long time. so it stays cold
the other one is the hot wallet where i receive in and spend my bitcoins from whenever i need and i always keep the amount at a minimum necessary.
More wallets is more secure. Just think about this!
How if you just save your Bitcoin in only 1 wallet, and then somebody steal it?
You will lose all of your Bitcoin in that wallet.
But if you keep your Bitcoin in 5 wallets that you shared equally
and if somebody steal it 1 of your wallet, you will just lose 25% of your Bitcoin.
Now imagine, if you save your Bitcoin in many wallets! If somebody steal it, you will just lose a little bit amount of it.
But of course, this thing has a weakness. Which is if you want to use all or 50% of it, you have to send it to 1 wallet first so that you can send just 1 transaction to the receiver wallet.
How if you just save your Bitcoin in only 1 wallet, and then somebody steal it?
You will lose all of your Bitcoin in that wallet.
But if you keep your Bitcoin in 5 wallets that you shared equally
and if somebody steal it 1 of your wallet, you will just lose 25% of your Bitcoin.
Now imagine, if you save your Bitcoin in many wallets! If somebody steal it, you will just lose a little bit amount of it.
But of course, this thing has a weakness. Which is if you want to use all or 50% of it, you have to send it to 1 wallet first so that you can send just 1 transaction to the receiver wallet.
If you are talking about software wallets it doesn't really matter. Once your PC is infected, it's infected....
it does matter, because if the hacker steal you 1 wallet, you know the pc is infected and you do a secure erase, your loss would be minimal, it depend on how many wallet you have split your coins
instead if you want to spend your coin from a cold storage and you load 1 wallet with all the coins, you're pretty much screwed if that computer is infected
More wallets is more secure. Just think about this!
How if you just save your Bitcoin in only 1 wallet, and then somebody steal it?
You will lose all of your Bitcoin in that wallet.
But if you keep your Bitcoin in 5 wallets that you shared equally
and if somebody steal it 1 of your wallet, you will just lose 25% of your Bitcoin.
Now imagine, if you save your Bitcoin in many wallets! If somebody steal it, you will just lose a little bit amount of it.
But of course, this thing has a weakness. Which is if you want to use all or 50% of it, you have to send it to 1 wallet first so that you can send just 1 transaction to the receiver wallet.
How if you just save your Bitcoin in only 1 wallet, and then somebody steal it?
You will lose all of your Bitcoin in that wallet.
But if you keep your Bitcoin in 5 wallets that you shared equally
and if somebody steal it 1 of your wallet, you will just lose 25% of your Bitcoin.
Now imagine, if you save your Bitcoin in many wallets! If somebody steal it, you will just lose a little bit amount of it.
But of course, this thing has a weakness. Which is if you want to use all or 50% of it, you have to send it to 1 wallet first so that you can send just 1 transaction to the receiver wallet.
If you are talking about software wallets it doesn't really matter. Once your PC is infected, it's infected....
I use a lot wallet to avoid some problems. such as pending delivery too long or special wallet for some income.
Yeah use more than one bitcoin wallet is solution from many kind wallet' s problem.
A lot of people do that too, actually I want make more then one wallet to organize my payment.
I do not get your point ! The pending time before getting the first confirmation is not related to the wallet you use, it depends on the transaction fees and how fast miners will find a new block
I use a lot wallet to avoid some problems. such as pending delivery too long or special wallet for some income.
Yeah use more than one bitcoin wallet is solution from many kind wallet' s problem.
A lot of people do that too, actually I want make more then one wallet to organize my payment.
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