Bitcoin Forum

Dear friends,

I have few btc which i stored in payeer. But upon receiving suggestion from you guys, I decided to split them in 4 wallets just in case if any company has any issues etc:

Payeer
cryptopay
coinbase
Exodus

Can you please advise if it is actually a good idea to split them or if there is any benefit to put all in one wallet? 

I understand it is good to have ledger nano, but from vieo reviews in youtube,  I don't find it user friendly so  I do not want to use it as yet.

Thanks.  :D

That's not a good idea. The best option would be to hold all your coins in a hardware wallet or desktop wallet - such as Electrum - instead of storing them in several online wallets. Just being "risky" - which motivates you to separate your coins in several wallets - should already be reason enough to not use them in the first place.

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How exactly is Ledger Nano S not user friendly? LOL

Just like any other wallet, you receive your coins by copying your Bitcoin address and giving it to your sender. To send, you can just go to the "Send" tab, paste your receiver's address and confirm the transaction in the hardware device. What is so difficult about this?

This is a good idea, backing up your bitcoins, just make sure that you and only you knows the key, to avoid your bitcoins from being stolen. You could also try using offline wallets, desktop wallets, online wallets, to store your bitcoin, just make sure you save a copy, in case you lost any of those wallets, just always be cautious since in todays world, technology is innovating and also thieves are updating themselves, however for paperwallet, if it contains bitcoins, i suggest you laminate it or have it frame, to avoid it from being destroyed. We must also keep our firewalls or antivirus software to be updated, since some hackers, can't hack you wallet but they can hack your system, and you might be saving importany details in your document. Also, if you are doing this witj bitcoin, just make sure that you split it equally, and that you only use your online wallet, and the others are just for storage.

Use 4 wallet web based is not good choice, it can be trouble some day, the best way is save your bitcoin into hardware wallet, such as you can buy raspberry pi for save your bitcoin. It will saver than you store in web based wallet

yes, it should be like that, dnot save btc long time with account exchange, it is very dangerous, because hackers or malware attacks, who is know "when hackers start attacking ? " . if split btc for some devlopher wallet btc , is not really necessary. but if you want to be safe, why not?. I suggest mycelium wallet & blockchain.info , this wallet very save .

This is not a good idea. It's best to put your bitcoins on a Hard Wallets. You hold your private keys because it is more secure and no one can access it. So even if you leave your bitcoins for a long time it's still there, You just have to keep your private keys and make sure you do not forget it, because this is the only way to access your wallets

That idea is hard. Because you're more likely to access your accout and definitely lose your bitcoins with the transaction fees you pay. The best thing to do is buy Trezor Wallets or even Ledger here you can keep your bitcoins. It's like a USB type wallet and you can carry it anywhere. But its price is very high but worth it because your btc is safe and you protect it from robbers. There are also other ways like Paper wallet, Hardwallet, Here you can also hide your btc. All you have to do is not forget your private keys

As already mentioned, definitely go with hardware wallets.

In addition, I suggest having backup split physical locations for your private keys.  I.e.,
physically send half of your key to one family member, then the other half of the key to an
unrelated friend.

That way, if you are ever error-prone enough to lose your key, you can always reconstitute it. But
each person holding half of the key cannot access your wallet. (I know at least one person who
lost their key and is desperately trying to get access again... who knows how much crypto is
'stranded' this way!)

No. no. no. no. No to all!

Why would you want to store your bitcoins in online wallets? The best way to store them is by yourself on a hardware wallet or even just a software wallet it would be safer!
If you deposit them in online wallets, there is a chance they close down or that they change their terms and you will be in a disadvantage. A bad experience of mine is that
they took so long to credit a transaction and I lost an opportunity to profit!

that is a terrible idea because none of these are bitcoin wallets. they may call themselves wallet but it won't make them one!

these are all third parties, some of which i have not even heard of, that are keeping bitcoin instead of you and you are giving up your "control" over your money.
start using a real bitcoin wallet here is a helpful topic you can read: https://bitcointalk.org/index.php?topic=1631151.0
in short a bitcoin wallet is a wallet that you control the private keys not someone else.

Yes it is good to split your funds in different wallets but be careful on where you are putting it, why you didn't considered blockchain.info for storing some of your funds?

I won't store too much bitcoins on exchanges because it's penetrable by hackers and it's better to use a desktop wallet for more security.

As long as you hold the keys / seed you'll be safe.


If you don't find it user friendly then don't drag yourself to use it but still learn to study it.

its always a good thing to split a large amount of money into smaller amounts into different groups so that it stays safe.
The reason is that if one suffers from an issue, it should not effect the other.

your statement is very helpful to me because it has explained how to safely we save our BTC, hopefully not only I can know this knowledge, honestly I do not know much about bitcoin ..

Why web wallet is not save ? In my opinion, web wallet is secure and cannot be broken. If we use hardware wallet, what happen if the hardware is broken ? Is the Bitcoins still stored ? Or they are gone ? And again, web based wallet is free. Most of us use it. But hardware wallet is not free right ? How much would it cost to have a hardware wallet ?


Yes that's right. I think in my opinion, it will become more secure if one of our wallet is hacked. It's bad but we still have other Bitcoin, and our money is not all gone. But, I never heard about web wallet having trouble before. What problems usually happen to web wallets ?

Using web wallets and storing it for long term is not advisable and gives no assurance to every bitcoin holders because in web wallets we are not allowed to hold our own private keys and if this online wallets decided to go offline and turn to scam eventually you cannot recovered it anymore thats why using those wallets are so risky, desktop wallets are more advisable.

Thanks all for suggestion. Is Exodus not considered as desktop wallet? :o   Exodus has option to get private key

make online wallet its not bad idea, as long you have trust in which in wallet you need saving it.
backup its important things.

If you are really into storing bitcoin into a safe wallet. I suggest to you to buy a ledger wallet which is a hardware wallet but a safe one and it is safer than those wallets that you stated. It is an offline wallet where it also have a high security that you can use to store your bitcoin and also other cryptocurrencies.

That's a good call. It really is a smart move to split your btc in different wallets to avoid loss from hackers as much as possible. But since you put your coins to various wallets I think you should also consider to store some in a hardware wallet rather than putting it in 4 different online wallets. I think it is more safe and hacker proof as long as you'll keep it properly.

I think that's a good idea. You should also think about storing your coin in a hardware wallet such as Trezor Bitcoin Wallet (https://besthardwarewallets.com/review/trezor-wallet/), which is most popular I think.

It is better to keep your btc in an offline wallet, so nobody will have access to it, you dont know if one day you wake up and payeer dissapears, the same with those who store their coins on coinbase, xapo, etc, they are "exchangers" so it is not recommendable to keep your bitcoins in there, having them in an offline wallet makes you the fully owner of them, and you are the only one who has the private key.

None of them below gives you your private key so you never actually own your wallets. Never use this type of services. Get a real wallet from bitcoin core.

Payeer
cryptopay
coinbase

No private keys...

yes its always a good idea to split all your bitcoins to different wallets or you could just buy a hardware wallet for much safer storing of your bitcoin like trezor and ledger nano or you can just transfer your coins to a cold storage if you have an old offline computer. in that way it can be acces by hackers or viruses because its offline.

Um, so you're worried about companies going down and taking your coins so you switch to four companies that might go down and take your coins. That's not very sensible reasoning.

May we ask why you're so attached to letting anonymous entities have full control over your precious coins?

If you don't like hardware wallets, and I don't understand why not, then paper wallets are free. Phone wallets may not be 100% secure but they're an order of magnitude better than leaving your coins with a bunch of businesses.

I have most of my bitcoins on mycellium but always got a few on coinbase and blockchain.info for exchanges.

Storage the bitcoins you use in hot and secured wallet and the ones to be held in cold wallet.

My friend you dont keep your bitcoin in a wallet, you keep it in an exchanger. So I recommend you to move your bitcoins into a hardware wallet so you have 100% control of it and you are sure that you will never lose your money. Dont trust any company to hold you bitcoins because if bitcoin is irreversible so if the company stole your bitcoins you can never get it back

Splitting is a good idea it can make your Bitcoins more in safe, but it is better to buy one good hardware wallet and and hold you cryptocurrency there. I seeyou want to hold your money on exchanges - it`s s mistake, your money can be stolen or one day exchange won`t work.

when im newbie i also do that and think that because incase of having a problem in wallet that we use right?but theres a wallet here called hard wallet i think its good to save there your bitcoin,the price of bitcoin is volatile so better is to withdraw once you have big bitcoin or try to risk in trading based on my experience 60% chance of profit if you keep monitor it

If you have a big amount to store i suggest to store it in one hard wallet.

I don’t understand what will be the advantage of this rather it is not good for bitcoin holders. If I think about myself I will never do it, because if I want to redeem money from my bitcoin which account I will use for transactions.

I think one wallet is enough and that is blockchain wallet. I don’t need so many wallets to keep my bitcoin in them in small quantities. I am not in favor of many wallets.

Well there's no really sure way to say that your bitcoin is 100% sure. Some say hardware wallet is the safest way, but still hardware can break and be stolen, while online wallet also have its own risk. So for me, splitting it into different account that you trust (with lots of research) may reduce whole loses in something really bad comes up.

There is no reason for having too many wallets if you're using a trustworthy bitcoin wallet. There are desktop wallets which are considerably more secure than online bitcoin wallets.

I think it's not a good idea to split your coins to many wallets. In my opinion it's better to save it in one wallet and you secure it well.
You can use a different wallet for daily uses.

It is better to store your bitcoins in a hard wallet. For me storing bitcoins in a hard wallet is more safer and nothing to worry because you own that and if there's a problem with you can have your back up that can restore the data of the lost one. Try to read some article about the security of bitcoins in a wallet.

This is what you should not do. Because there are many deductible money. Send to another wallet. And yet it will be hard for you to see every day. The better you do is buy ledger or trezor there your btc is more secure and not stolen. But if you do not have many hardwallets there you can create an account. as long as you hold your private key no one will have access to your btc as long as you do not give anyone your private key

I think you are too complicated. and complicates itself. anything can be as long as it remains safe, why you should limit yourself with such a narrow thought for me. you can keep a wallet only or two can.

all what you say is only market exchanger not wallet, better sparate iot to mycellium, electrum, and paper wallet too,
in middle 2015 i lost 2.5btc i split my bitcoin to same wallet, and my wallet at coinbase and xapo is safe because im use sms authenticator.. i dont know how the hacker can acces my bitcoin, this is the sad experience when i save my bitcoin at exchanger

If you think about it that idea is stupid, if you're unsure about a wallet that seems fishy just don't deposit in it. It doesnt matter that you don't have all your bitcoins there even if you have less than 10 dollars worth of bitcoin you should always choose something secure and not risk getting ripped off.

Oh yes. It is advisable to split your bitcoins to different wallets especially if you're using online wallets. You don't know what are the possibilities that your online wallet provider will have a problem. If you have hard wallet then the better.

It is a little bothersome that this can even occur. What is to stop multiple wealthy actors from individually creating their own forks and mooching off of the momentum of bitcoin? That is essentially what has happened here. I want to just dump the BCH to help in driving down the value so it is no profitable to mine - at the same time, I don't want those same miners coming back to BTC, as they are clearly intent on attacking bitcoin. I'd rather they slowly wilt and die over a period of years while their alt-coin becomes worthless.

I think it all depends on how many Bitcoins you have in your wallet. If you are having a large amount of Bitcoins, then using different wallets is actually not a bad idea. On the other hand, if you don’t have much Bitcoins then there is no point of having more wallets. This will only add trouble for you. Think as per your own convenience.

That is right, all of the users must consider the amount of their bitcoin first before thinking about splitting bitcoin into different kind of wallets because sometimes, bitcoin users consider diversifying bitcoin into different wallets but they don't know that it is only good for people who got 10 bitcoins and up. So for me, before diversifying, make sure that you have enough bitcoins to diversify in order to enhance the security of your money in bitcoin.

Yes that's good you store wallet in a different kind of wallets, but be sure that the large amount should be in a desktop wallet like exodus and ethereum and only amount for trading purposes should be in online and wallet exchange, this is what I done with all my Bitcoin.

if the coins was many
it is bad to store it from web online based wallet
I suggest that you store it in a hardware wallet which you can store physically
it is expensive but the assurance is 100%

some of my friend store his coin in a website and that website online wallet freezes all of his money
be careful

I would not suggest coinbase, simply as they are an online exchange and you do own or control your own bitcoins, you do not control the private keys. Instead of any online solutions, if you really want to keep your BTC safe, I would suggest Electrum wallet, which is probably the best one out there, and with that use paper wallets, hardware wallets and cold storage too, and keep all your devices free from viruses always.
And, never forget to make multiple backups and store them in offline drives to help keep your private keys safe.

I think its a good idea to split you Bitcoin into multiple wallet . There is a high risk if you only turn all your money into 1 wallet. What if hacking occurs ( which we wish not happen ) all your money can easily steal by other then it was wasted that you can not even use even a little bit of what you save for yourself . So i think Splitting into multiple wallet is a better and bright idea to take for precaution and safety.

It is good to spilt your BTC into 4 wallets but you do not own the private keys to 3 of them. It is not safe to keep your BTC in such wallets for the long term. You will never know when the companies will be gone or change of regulation. Keep your BTC in paper wallet and hardware wallet are the safest way.

you have done a good thing when you split your coins into different wallets.
but you must reconsider your decision with regards to putting it all on a online wallet.
as what others have already mentioned, it may not be that safe entrusting all your coins on a third parts.
better have a hardware wallet and store the keys for yourself.
:D

Exactly, online wallets aren't the best and  so if you plan on using different wallets then the cold wallets should house majority of your bitcoins so that the online wallets will only  be responsible for a few bitcoins that you  circulate around.

You don't want an online wallet. You want a private key. You will not leave the key to your house with s company will you? Not when you can keep it yourself. Remember to backup please. On paper on PC. Wherever. Don't lose your private key ever send also never delete or throw away one either. It's just in case you throw away the wrong key or you may need it Oster for some or another reason. Maybe someone sends Bitcoin to that address by mistake? Who knows? It could happen.

I think the offline wallet is for the massive safe of bitcoins, we talk about more than 10 bitcoins, but when we talk about online wallets, it was all good, because there is a lot of secure wallets, for exemple like blockchain and XAPO, this is my point of view about that, Also the split of bitcoin is great, because when you have a problem with one wallet, the others will be fine.

It is a good idea, but if you have an offline wallet why would you want to keep those bitcoins in different wallets? If you are going to hold your bitcoins in a multisignature wallet then it would be fine because you can ask people to send your payments to those wallets, and it is imppossible for them to track your bitcoins if you use a multisig wallet. Anyway, the most safest thing is just to buy an offline wallet and try to protect your bitcoins in there.

I think i understand your reason for splitting the bitcoins so that in the scenario where one of your wallet  may get compromised, the thief will not have access to all the bitcoins that you have. I suggest that you have the highest security available for each wallet, I laud your idea and i think i am going to implement it for mine as well.

Probably he wants to trade with some or even gamble some online and leave the bigger stock of bitcoin safe somewhere without visiting that frequently. I practice that system because i don't want to risk any hacker viewing my wallet activities online and so i have the ones that regularly move around in  an online wallet and the rest in cold storage.

Splitting is a good idea you never know what can happen same with paper wallets too. We hear all too often of something happening to peoples bitcoin.

nice move and good idea's your decision for your bitcoin wallet are very secured even the hackers want to access your wallet account can't lose your all investment using your bright idea's.

That's a bad idea at best All bitcoins working together on an offline wallet is the safest.

What I like best is a paper wallet

splitting on paper wallets is the best u can do with ur coins. when u  have a lot of coins u wont lose them by hacker,malware or trojans,keep them save!
a lot of people got their coins stolen here in the forum.