Why do people use so many Bitcoin wallets? - page 51.

praprata

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Quote from: stromma44 on January 20, 2016, 06:53:07 AM

Quote from: LarryHocks on January 20, 2016, 06:35:49 AM

I think they use a lot of bitcoin wallet is because is just better to do if you don't want to lose all your bitcoins in one wallet.
At least having 2 wallets is just good and that is enough for a beginner.

As you suggested two bitcoin wallet is good for a beginner. During the early days of getting into bitcoin it is good to have one account in blockchain which is good and can have a alternate wallet in electrum which has got good user friendly reviews.

Yeah that is why BlockChain in the most use until now also CoinBase.
Still one online wallet is nice and this are trusted.
Having offline wallet is beter to secure in your own pc for experiences.

zencomp

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people use so many bitcoin wallets because they dont want to get stuck with one wallet , their are so many different ways of different users, some use it for safety of their transaction so that their wallet dont get hacked.

my purpose is simple one wallet i use it for my savings and some i use it for gambling and sports betting .

stromma44

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Quote from: LarryHocks on January 20, 2016, 06:35:49 AM

I think they use a lot of bitcoin wallet is because is just better to do if you don't want to lose all your bitcoins in one wallet.
At least having 2 wallets is just good and that is enough for a beginner.

As you suggested two bitcoin wallet is good for a beginner. During the early days of getting into bitcoin it is good to have one account in blockchain which is good and can have a alternate wallet in electrum which has got good user friendly reviews.

LarryHocks

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I think they use a lot of bitcoin wallet is because is just better to do if you don't want to lose all your bitcoins in one wallet.
At least having 2 wallets is just good and that is enough for a beginner.

LuckyYOU

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People use different wallets mainly for security reasons
But for the most part it's also nice to have things organized as well.

Newcoins2020

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Quote from: 1Referee on January 20, 2016, 06:04:07 AM

My wallets are for the following purposes.

- Cold storage for the long term.
- Bitcointalk wallet.
- Wallet where I store my coins for trading purposes. (I always send my coins back to my offline wallet when I'm done trading)
- Wallet for spending and receiving purposes for online stuff.
- Wallet for spending and receiving purposes in private life.

Damn you have calculated all of it. This is the most awesome idea that I have seen.
Having 5 wallet that is quite nice. That cold storage for the long term I hope we will get a high price with it.

Well good luck with future bitcoin world Cheesy

chaser15

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It really depends on user's wants. Example here : Some exchanges wallets like Coinbase has legal terms against using their services in gambling related site. To become safe and to avoid that terms in the future then it's safer to use other wallet provider.

1Referee

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My wallets are for the following purposes.

- Cold storage for the long term.
- Bitcointalk wallet.
- Wallet where I store my coins for trading purposes. (I always send my coins back to my offline wallet when I'm done trading)
- Wallet for spending and receiving purposes for online stuff.
- Wallet for spending and receiving purposes in private life.

Ryananda

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Quote from: hawkins on January 20, 2016, 05:10:13 AM

some people use more than one wallet, my own use 2 wallets, it's usually because of its usefulness for, wallet which one to save money, and wallets are only for fun, it's in my experience Grin

Yes I also use two as your wallet with each purse usefulness of each.
My first wallet to use for any online shopping is usually clothes, and a second wallet to be delivered to my bank savings.

newcoins1978

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I believe it's best to not keep all your eggs in one basket.
It's for safety and security reasons why people have different wallets.
If one gets compromised you still have a bunch of other wallets with your funds in it.

blackmachinegun

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I dont know it, I myself only using one wallet, and I can have many addresses only in a wallet,
using many wallets will only get confused and complicated

romero121

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Quote from: StarofBTC on January 19, 2016, 10:08:26 PM

I also use 2 web wallets nowadays . Because incase if blockchains runs off with error or some issue then i can still do transactions over my other wallet

You are right for having a backup. Everyone uses various wallets according to their convenience with user interface, transaction and for some other related security purposes

hawkins

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some people use more than one wallet, my own use 2 wallets, it's usually because of its usefulness for, wallet which one to save money, and wallets are only for fun, it's in my experience Grin

mrcashking

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Quote from: Betwrong on January 20, 2016, 04:45:01 AM

Knowing that you shouldn't put all your eggs into one basket I used to have four wallets. But, around a year ago, I had actually stopped using three of them so now I have only one.

To make long story short, I think I have a different mindset now and I really think that it is safer to hold all your eggs in one basket. )

I would say it is safer to hold them in different wallet.Diversity is always the safest and even some malware gets into your hardware wallet or device the coins in the online one' will be untouched and you will be less disappointed.

Altynbekova

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Quote from: Betwrong on January 20, 2016, 04:45:01 AM

Knowing that you shouldn't put all your eggs into one basket I used to have four wallets. But, around a year ago, I had actually stopped using three of them so now I have only one.

To make long story short, I think I have a different mindset now and I really think that it is safer to hold all your eggs in one basket. )

But what if your one basket is got hacked or something?
I think that would be not a good idea to do.

Because if you lose than you will lose all and having at least two is good to have.

Betwrong

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Knowing that you shouldn't put all your eggs into one basket I used to have four wallets. But, around a year ago, I had actually stopped using three of them so now I have only one.

To make long story short, I think I have a different mindset now and I really think that it is safer to hold all your eggs in one basket. )

Windpower

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I don't use multiple wallets lol. I only use 2 wallets. Oh wait that is multiple. HEHE. Just to be safer I guess.

arbitrage

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From the stand point of security it is not bad to create a few accounts with few addresses on https://blockchain.info .
Then periodically transver coins from one to another accaunt ..to different address.

StarofBTC

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I also use 2 web wallets nowadays . Because incase if blockchains runs off with error or some issue then i can still do transactions over my other wallet

DaddyMonsi

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Quote from: harizen on January 19, 2016, 08:38:47 PM

Using different bitcoin wallets is somehow a good preventive measure to minimize the loss, at least. Scaterred funds are much better than putting all of them in a single knapsack.

Another thing is the wallet feature of each kind of wallet that will depend on user's interest.

Yes I agree, not all Bitcoin wallets have same function or features. In my case I use 3 wallets, 1 when I'm on the move which is downloaded in my smart phone, 1 to withdraw or convert my BTC to fiat and 1 at home.

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