Topic: Why do people use so many Bitcoin wallets? - page 57. (Read 51715 times)
Privacy. Too many people think Bitcoin is completely anonymous. For every new transaction you receive you should use a new bitcoin address. Even if some of them cross over with each other and match up as being apart of the same cluster, it's just better for your privacy.
Mostly escrows here use a new wallet for each transaction to be safe while other users like me own 3 wallets as I wanted t check which is safe and better to use. It is useful to keep your funds in more than one wallet just like you have more than 1 bank as keeping all your eggs in 1 basket isn't a wise thing to do. This way if one wallet shuts down, the coins from the other wallet remain safe as none of the bitcoin wallets are safe and secure.
I think its totally dumb to use too many wallets.You can use one for your regular daily transactions and one for your savings maybe or your urgent deposits.But again ,your wallets like blockchain gives options to have a different address to receive bitcoins if you want so don't really need to change accounts or create a new wallet at all.
Frankly I do not use any wallets right now. I have created my bitcoin addresses using bitcoin-qt, due to large bandwidth requirement I was unable to synchronize it to make it ready for transacting.
Later I get practiced using block-explorers to check my balances. I never needed to spend any of my coins, so still I do not need any wallet.
Later I get practiced using block-explorers to check my balances. I never needed to spend any of my coins, so still I do not need any wallet.
It's too funny, some people are using almost all the available bitcoin wallets and some people are not at all using a single one.
Out of curiosity I'm asking, how you will come to know how much total bitcoins you are having in multiple addresses.
I use more than four type of wallets for different purposes.
Because the "perfect one" still doesn't exist.
- The Core one is safe, original and has many qualities but has to download the whole blockchain. And so does Armory.
- Online wallets are easy to use but unsafe.
In my opinion the best ones to use are Electrum and Multibit but still present some problem.
- The Core one is safe, original and has many qualities but has to download the whole blockchain. And so does Armory.
- Online wallets are easy to use but unsafe.
In my opinion the best ones to use are Electrum and Multibit but still present some problem.
Frankly I do not use any wallets right now. I have created my bitcoin addresses using bitcoin-qt, due to large bandwidth requirement I was unable to synchronize it to make it ready for transacting.
Later I get practiced using block-explorers to check my balances. I never needed to spend any of my coins, so still I do not need any wallet.
Later I get practiced using block-explorers to check my balances. I never needed to spend any of my coins, so still I do not need any wallet.
Yes, being a bitcoiner with out any hot wallet is only possible if you are not ready to spend any bitcoins.
To receive bitcoin, you never need a wallet. Just a cold storage address is more than enough. For people who are saving their bitcoins out of the faith on bitcoin, only to them it is possible to be a bitcoiner with out any active wallets.
Frankly I do not use any wallets right now. I have created my bitcoin addresses using bitcoin-qt, due to large bandwidth requirement I was unable to synchronize it to make it ready for transacting.
Later I get practiced using block-explorers to check my balances. I never needed to spend any of my coins, so still I do not need any wallet.
Later I get practiced using block-explorers to check my balances. I never needed to spend any of my coins, so still I do not need any wallet.
Just wondering why people use so many Bitcoin wallets.
it depend how they will use that wallet because if you wondering about that it could be lot of different various reasons but even though most people have more than 1 bitcoin wallets but i think they have 1 main wallet to save all they bitcoin
I've more or less all wallets except hardware wallets. I'm using this because of privacy. This might prevent me from compromising my PC/mobile.
I think because they have a lot of games that require a lot of bitcoin wallets, or to cover their tracks may be used for illegal purposes can also to be careful
Maybe for some illegal purpose or other thinks, but the most thing is that people have more than 2 wallet because bitcoin is really heavy.
Also you need to becareful what will happend to your wallet always a back up plan like another wallet.
I think because they have a lot of games that require a lot of bitcoin wallets, or to cover their tracks may be used for illegal purposes can also to be careful
Spreading coins is very important. Especially when the possibility of seeing your coins sky rocket in value in the future is very high. Right now I have 6 different wallets in use. I had more, but it's too much work maintaining several wallets properly.
not of all people use so many bitcoin wallet, at least 2 wallets
the first for saving bitcoins and the second for investment or trading
the first for saving bitcoins and the second for investment or trading
Just wondering why people use so many Bitcoin wallets.
Well, i only have 2 online wallets that is blockchain and xapo. Actually i only have 1 wallet but i register xapo wallet because i need it for withdrawal some bitcoin games. many people use so many bitcoins wallets because they won't save their bitcoin in 1 place, just in case 1 wallet gonna scam.
Usually people use 2 type of wallets, depending on their need. You can have as many as you want but they fall in these 2 categories.
1. First is for Cold-Storage and it includes your Paper-Wallets, Hardware Wallets (Trezor, etc.), Offline wallets (Wallets like Electrum, Core etc. but they stay on an offline machine) and these are basically used to store and safe keeping of larger amount of Bitcoins.
2. Second are your Hot-Wallets, which include Desktop wallets (such as Electrum, Multibit, Core, etc.), Phone Wallets (Mycelium, Copay, etc.), Online wallets (Blockchain.info, Green Address etc.) and last but not the least, wallet service providers (Coinbase, Xapo, etc.) and these are used for your day-to-day bitcoin spending needs.
1. First is for Cold-Storage and it includes your Paper-Wallets, Hardware Wallets (Trezor, etc.), Offline wallets (Wallets like Electrum, Core etc. but they stay on an offline machine) and these are basically used to store and safe keeping of larger amount of Bitcoins.
2. Second are your Hot-Wallets, which include Desktop wallets (such as Electrum, Multibit, Core, etc.), Phone Wallets (Mycelium, Copay, etc.), Online wallets (Blockchain.info, Green Address etc.) and last but not the least, wallet service providers (Coinbase, Xapo, etc.) and these are used for your day-to-day bitcoin spending needs.
Just wondering why people use so many Bitcoin wallets.
This is partly my reason for using more than one bitcoin wallet:
Everyone has got their own reasons. I got multiple wallets because of security reasons.
If one gets compromised I will still have other ones, so that not all my bitcoins are just gone.
If one gets compromised I will still have other ones, so that not all my bitcoins are just gone.
Bitcoin is not like a fiat bank account where it is insured. If coins are stolen, there are gone. You wouldn't want to take your whole bitcoin savings with you on your trip in a mobile app, nor would you be likely to keep all your coins on bitcoin core because it takes some time to sync. It's all about security and convenience of access.
I think people use more than one wallet because they think it safe enough.
but so far I only have one wallet, I quite feel safe.
but so far I only have one wallet, I quite feel safe.
It's better since I have plenty of wallets for different purposes. I have cold wallets, wallets for trading purposes, wallets for spending purposes, etc. It makes it easier, and also is better for the security of my coins.
Everyone has got their own reasons. I got multiple wallets because of security reasons.
If one gets compromised I will still have other ones, so that not all my bitcoins are just gone.
If one gets compromised I will still have other ones, so that not all my bitcoins are just gone.
For their anonimity and to keep them spreaded in case 1 gets compromised. I use only 3: web, desktop and mobile.
Jump to: