Bitcoin Forum

I was reading about the Luke Dashjr BTC hack and it got me thinking if people have multiple crypto wallets and addresses.

I think having a cold wallet that isn't connected to the internet plus numerous online wallets is a precaution everyone should take.

The benefits being;

- If you are hacked you won't lose all your crypto assets

- If you forget one private key you won't lose all your crypto assets

- Smaller transactions (since your crypto will be dispersed across many wallets) will not draw as much attention thus increasing privacy.

I will be taking these steps in the next few days to give myself peace of mind.

I'm curious if others think I'm being too paranoid or have carried out some of these practices.

Why numerous online wallets? Isn't a single online wallet with small balance for daily use enough?


Why should you forget your private key? Do you memorize your private keys?
You can generate a HD wallet and write down the seed phrase on a piece of paper. It's recommended to keep multiple copies of the seed phrase in different locations.

If you have one cold wallet where majority of your funds are kept then a single online wallet for smaller amounts is required. Having many online wallet doesn’t prevent much of a thing moreover it could be on a same laptop or phone so when this device is compromised either through phishing, then almost all the wallets on will be compromised too. Also The more seed phrases you have the more you store them in less secure places since you might consider to store them in different locations.

Just stick to one each of the wallets and avoid storing much funds on online wallets

I have one Ledger [not recommended anymore, scammers (https://bitcointalk.org/index.php?topic=5452900.0)] and one another device (I can not remember the name, it kept as backup). So these two I have. Thing is they are not wallet but devices to access wallet without exposing the private key. In that sense you can create as many wallets as you want. A HD wallet will generate unlimited number of addresses for you. So when you are talking about how many wallets, it does not make sense to me.

But if you ask how many device in other words hardware wallet, then I have two. One as a backup in case the current one does not function like a damaged button, broken display.

Meaning you are holding a lot of Bitcoin starch ???  ;D ;D

Anyways, If I have a number of Bitcoin, I would definitely have a hardware wallet for that instead of holding them in many online wallets and with regards to losing your keys, also understand that in Bitcoin investment there is the saying, "Not your Keys Not your Coins"  so your best choice is HD wallet and hold whatever little amount you wish to trade in an exchange wallet except you want to trade in multiple exchanges hence you will be having multiple online wallets which I don't see the sense in that.

One advantage of having multiple online wallets is to protect privacy right? The average user doesn't have in mind that one wallet but multiple addresses are not proper protection of privacy if they cross spent UTXO consisting of several addresses within the wallet. I guess it depends on the user's needs or requirements.

Still though when you install an Electrum client you can of course have multiple wallets. Perhaps the "numerous online wallets" as @OP termed it is a bit misleading here? With Electrum you can easily manage several wallets with countless addresses if you need to.

Even if that's the purpose, there is no need to have numerous wallets. A few number of wallets should be enough.
There's a disadvantage too. In the case you have multiple wallets, you have to keep multiple keys and that's difficult if you want to keep each of the keys in a separate safe location.
As OP is referring to private key and not a seed phrase, maybe, he/she doesn't know that it's possible to use a HD wallet and have numerous addresses all generated from a seed phrase.

All he had to do is use hardware wallet and he wouldn't get hacked the way he did.


If your computer gets hacked, hacker will probably clear all your online wallets and won;t restrict himself to one so how exactly would having more of those increase your security?


You are supposed to write seed phrase on a piece of paper, not memorize it.


If you want piece of mind, put all your crypto in hardware wallet and write down seed (preferably have several copies and if possible store one copy at another location) and keep in hot wallet only what you need for a few days or a week.

Having more than one wallet is really very useful but I think traders should use hardware wallet. I have a lot of custodial wallets in exchanges. As I am a daily trader I need to use more custodial wallets.

You won't get hacked if you own a cold wallet but your only problem is if someone's going to steal it from you. It would be better to hide them in safe deposit box and avoid any online wallet to store your crypto they aren't worth it. Not your keys, not your coins.

It's would be a hassle to own a lot of wallet when you could just have a single one that you should not connect to the internet. No matter what wallet do you use it has always their pros and cons but it depends on how you manage to adjust to their disadvantage.

Use a different wallet if you just want to hodl your coins for a long time and that is a cold wallet then use a hot wallet if you casually trade.

It seems that Luke was targeted. It seems that Luke didn't use hardware wallet nor a proper cold storage (ie completely offline).
So a proper cold storage (if you know what you're doing) or a hardware wallet should do. Then you cannot really get hacked.
You can make smaller transactions also with one wallet. Nowadays a (HD) wallet can have many addresses and you can use them wisely with the right wallet software.

Of course, I also think that if somebody has really big money in bitcoin then multiple wallets (most probably hardware wallets) may not be a too bad idea.
I think I've read in the news of a family that has a big number of wallets spread all over the world, exactly for this reason.

However, that one cold storage - multiple online wallets (probably watch only?) - thing doesn't make sense to me, but I may be missing/misunderstanding something there.

Am having two bitcoin wallets, the first one is with the centralized crypto exchange, which i use occassionally for the exchange whenever i needed to spend in fiat while the second one is a decentralized bitcoin wallet with electrum, which is an open source cold storage for keeping my bitcoin over a long time, it serve the purpose of bank and i prefer it than using a centralized institution like bank, i have full control over my finances with the bitcoin wallet i use and get satisfied.

There are definitely some benefits to having multiple crypto wallets and addresses like you have listed and they make sense, but I think that it can be stressful and challenging for some people to keep up with all of them and it still will not ensure your safety. Trying to ensure that the wallet you use is safe and kept safe should be your number one goal, not having multiple wallets with still same poor safety practice. Many people will share the same opinion as you,  but personally I do not think it is the best.

hot wallets are not preferred at all as I know they more likely easy to use while trading but the connection between the Dapp and Hot wallet is based on the API and if the Dapp session has any type of vanerability then your funds are in risk.

Proper precautions are required to use Hot wallets any type of small mistake lead to major risk. Writing the seed on paper seems safe but then keeping that piece of paper safe is a tough job on the other hand SS of the seed seems unsafe as it is on your device which might get hacked but keeping it stored in the form of SS is easy where to go.

An exchange isn't essentially a 'wallet', you should only use an exchange to trade and not to store your money, you can keep your funds for daily spending in your electrum 'hot' wallet and move it to the exchange for trading whenever you want to convert to fiat.
Electrum is a non-custodial wallet, wallets are either custodial or non-custodial, it is cryptocurrencies and services that are either centralized or decentralized. Electrum is not a 'cold storage' wallet, it depends on how you use it, if you use it on your phone for internet activities, then it is a hot wallet, but if you set it up offline using two devices then it is a cold storage because the device that carries your keys would forever be offline and be used for signing transactions, while the other device would be for watching only and broadcasting transactions. Check if you are doing things correctly to avoid loss of funds.

Well I am still not yet fully invested to cold wallets these days, but I am still considering it. "Numerous" online wallets might be just pushing it too much and one would be just be enough considering that they are unsafe. I only use one online wallet that is localized in here so that I would be able to avail their services since there isn't really direct way from my cold wallet to whatever service I am trying to avail.

When I hold in my online wallet, it is usually just smaller amounts just like how would I do it in exchanges though I stopped day trading long time ago already.

Well, I personally think that having several crypto wallets and having just one or two both have their pros and cons, and this largely depend on the user.
Like for example, there are people who have a really hard time managing or keeping track of their multiple wallets, for this type of persons, misplacing private keys to one or two of their multiple wallets could really be easy, except the user's multiple wallets are controlled by one seed phrase, which to me, is not very much different from one who have just one wallet.

I personally think everyone should just do that which they find easier and most interesting for them, as long as it does not involve leaving funds on centralized exchanges or using custodial wallet for saving investments for the future.

I don't think good ideas having single wallet for holding all cryptocurrency assets because can't guarantee how protect from hacking and hold or spent assets on several wallet seems worth with one wallet hacked still have chance on other wallet. I have bad experienced when saving assets in single wallet on metamask and got hacked due fatal mistake I made when joining pre sale project.

Learned from this cases I think worth spent assets more than ten wallet but depend on altcoin network kinds for holding, if ethereum network coins I hold on the single wallet and another wallet holding with other network kinds coins like Polygon and BSC Schain network.

Since when is an exchange considered a wallet? Anyway, for Bitcoin, I've stuck with Electrum; it's a simple non-custodial desktop wallet, but I'm planning to purchase a hardware wallet soon enough. They're much safer and not expensive at all. Perhaps splitting your balances into two wallets adds a second layer of security but I'm not sure if it's actually worth it. I'm also using Metamask, where I keep my stablecoins and some of my BNB; the rest, which is a small amount, is on Binance.

don't consider CEXs your alternative wallet. they are more prone to hacking and other fraudulent events as they are the target of most scammers or hackers. much better if you will use noncustodial wallet such as electrum. if you put some of your funds in CEX, you are subjecting your funds to unexpected circumstances such as hacking or abandonment of the owners from their platform. if you have your own keys, you can also pretty much sleep peacefully, knowing that you have full control of your funds.

Well if you keep your wallets in one place and if the malware works in a specific way, like keylogger or memory scanner, you could lose coins in all your wallets if they all got exposed to the malware.


That's not so simple, you can break your own privacy if you do similar transactions from both wallets. For example, depositing to the same exchange account.

I've been storing my cryptocurrency using a Ledger hardware wallet. I just use Binance for daily use because I trade there. I don't believe I require a second wallet because it is not necessary. It would be difficult to handle everything if there were many wallets. It everything needs to be maintained, after all. If possible, use a hardware wallet only. If not, it's recommended to use a non-custodial wallet. Therefore, you're almost secure.

I have lost count of the number of wallet I own, but I only use three of them; I'm using one for my daily transactions and another where I'm currently holding my main Bitcoin for the long run while the last is for altcoin.

Oh I said I've lost count right? Yeah, that's because each time I'm to connect my wallet to any online service I always create a new wallet address and once I'm done I delete the wallet without having to save the secret phrase because I won't be needing the wallet address ever again.




Exchange really? Dude as long you don't have the secret phrase or private key to a wallet address then technically you don't own that address and in the case of exchanges you are only seeing numbers being displayed on your screen not your coin. And they might decide to empty your account and kick you out of their system and you won't have anything to do to them but that not the case of a non-custodial wallet.
Remember: NOT YOUR KEY NOT YOUR COIN, NOT YOUR KEY NOT YOUR WALLET

Many friends of mine own crypto wallet for very good reasons as they would say, because they have either been hacked, or have lost their phrases. This is a common phenomenon with many of us like myself who have lost my phrases on as many as three times. Each time though, the wallet was left with some coins I reserve for future use.
Not your phrase, not your coins certainly is the way to describe my scenario on those three occasions. I have and maintain just one at the moment, I believe as my demand or knowledge and application of cryptocurrency in my transactions increase, so would my need for more than one crypto wallet suffice.

Too many online wallets is overkill IMO, I agree that we only need one or two since this wallet is capable of generating multiple addresses if we don't want to reuse addresses.


Lol, you are right on the spot.  Memorizing private key is actually not recommended since human minds have limits.  It is best to create a soft or hard copy (depending on the preference of the owner), the only challenge on this is how to keep these keys safe and secure but I guess there are lots of advice and suggestion about securing our private keys and seed phrases that can be found in this forum and on the internet.

Actually if we want to make safer investment, we must have offline wallet or hadrware wallet so it is quite diffuclt to be hacked.
But if it is about onine wallet, I think that diversification is also able to help, but not really much ebcause it is alsostill risky enough to invest in online wallet

Centralized exchanges are fine in most cases and probably for a large amount of users too. Don't forget that they hold billions of dollars' worth of cryptocurrency, with Binance and Coinbase being the most popular ones at the moment. I'm not using them to hold funds there; I'd never store Bitcoin on a CEX for obvious reasons; I don't want to reveal how much money I have; but they're completely fine to use for smaller amounts, trading, futures, or altcoins. Personally, I have some junk altcoins stored there and some BNB.

I have been on crypto space for long i always takes precaution on the sites i often visit and how i do use my pc because i know there are many things that could affects my system entirely. If you are holding $100 worth of btc you don't need to entire gets worried, i think only those holding 1 btc and above can make a solid storage of their funds although it depends on choice but for those holding little fraction of bitcoin can decide to use regular wallets. Now talking of addresses, before one own address you must first have a wallet which the address might generates from so all you needed is just to have best wallet installed and keep safe your seed phrase.

I was before having multiple wallets to segregate my funds from different investments but eventually, I only settled into one and is now just tracking transactions on a database. There is really nothing wrong with having multiple wallets, it will just be requiring bigger effort to execute transfering funds if you are needing to do so.
Whatever amount it is, worrying of your asset's storage should be normal. Not everyone has the capability to invest large amount of money in this industry. Whether it is dmall or big amount of investment, one should take good care of it and prioritize to to be negligent of their fund. When it comes on partition of funds, as I've mentioned, it will be depending on the individual's effort to do so but will never be a mandatory to do so.

If you don't have a hardware wallet, then you can have multiple software wallets and divide your money between those wallets. You can do so in order to minimize the risk if any wallet gets hacked, all of your money is not lost. This is the only reason I see why people would be needing to hold more than one wallet.

Yeah, having multiple wallets comes with a cost that you need to keep save all those passphrases somewhere and not lose them.

All contain risks, nothing to ensure your property is safe when you have full control of your money. The exchange was attacked because they held too much property, so it was easy to become the target of hackers, I am confident that they have hundreds of times better than you. If we keep the property in the non-custodial wallet, there are risks such as losing the private key due to accidents, natural disasters, fire ... all are risky, do not be too subjective.

I use/have used many different wallets.

In no particular order of importance, favorite, or whatever:

bluewallet
armory
ledger
electrum
freebitco.in wallet
atomic wallet
phantom wallet

I plan on learning how to use the backpack wallet next.

It's up to you how much you have, separating by spending category. What you need to remember is that the risk isn't only about losing assets, but also losing access. Sometimes someone actually does silly things because they lack basic knowledge of saving keys. So, having lots of wallets isn't always a good suggestion, first measure how good you're at handling this.

If you use a hardware wallet and it is entirely offline, just 1 is enough, sometimes too many wallets will make it difficult to store and protect them. And if you use a hot wallet but on the same device, it won't work because if your computer gets hacked, the hacker will steal all the information on your device. Unless you have 2 separate devices, then you can use 2 or more wallets to store assets which is also a good idea. Currently, I only use 1 hardware wallet to store most of my assets.

Having multiple hardware wallets is great because you can use those devices for multi-sig

You can start with one, save X amount of Bitcoin there, then start with a second one, etc. That way you can add slowly over time.

Even if you have issues with one, you still have access to others.

And well, for hot wallets, yeah, have a few on your phone and pc with a bit of Bitcoin just for small transactions. Have as many as devices you have. Lightning wallets are great for this.

There is an old rule of risk diversification, when assets are distributed among different vaults. Of course, this is a reasonable approach and it makes sense not only to store bitcoin at different addresses, but also to create separate seed-phrases. Yes, this creates additional trouble, but it increases safety in case of unforeseen losses. It is better to lose some of your savings than all of your savings. This is where diversification comes in handy.

I completely disagree about online wallets and should be avoided. You should not store on them and almost every user of this forum will tell you the same thing.

I think you can own three. cold storages and one online wallet for daily usage.

So you need to split up 90% of your Bitcoin to 3 cold storages and your online wallet only own 10% or smaller which you're used it to connecting random dapps, casino, or any other risky sites. But if you want to own multiple cold storages, you need to own multiple devices too because if you're still connect your cold storages through same devices, all of your cold storages carry a same risk.

So make sure you use one cold storage with one device, not 3 cold storages through the same device.

What would you recommend then?

The only transactions I conduct with crypto is trading and gambling. I'd say 25% trading and 75% gambling.

Exactly, this is one of the good benefits of having multiple cryptocurrency wallets.
For me, I have several wallets with different purposes, just like I have a different wallet for a long-term hodl! This wallet must not be touched always because that wallet is like my savings bank wherever I store a cryptocurrency there or Bitcoin, I expect not to touch it for a long time.
And there is the common wallet for sure of us that is a wallet that is being used for day-to-day, easy-to-access, and easy-to-create transactions where this wallet doesn't really hold too many funds because this kind of wallet is somehow prone to some hacks or scammers (based on how secure you is).

$100 is also money, sometimes it is nothing to many people, but it can be a huge asset to someone. Moreover, if you own $100 worth of bitcoins at the moment, but if you can hold it for a long time and when bitcoins are worth $1 million, your bitcoins are also a huge amount. Regarding bitcoin storage, I think only 1 wallet is enough, just use a hardware wallet to ensure safety. If someone doesn't have the funds to own a hardware wallet, it is possible to use a hot wallet as long as it is always kept offline, it will be safe.

if asked how many crypto wallets I currently have, certainly very many. Because I made all the crypto wallets with various kinds of networks and made them for free too. then every private key I save properly. But if I ask which crypto wallet is used as the main wallet, I only have one hardware wallet and that is what I use to store my main assets. Having multiple wallets has advantages and disadvantages, I very rarely open hardware wallets, it's only used for long term hold and for frequent transactions only use new wallets or pre-built wallets for transactions etc. But don't use Centralized Exchange wallets, because you can't completely control it.

Normally, using a cold wallet is the safest. Even having one cold wallet with multiple online wallet is the safest. The cold wallet can be the main wallet while others can be alternatives


I don't have any cold wallet but I have a lot of non custodial/online wallets. And i feel safe a bit about that. Having only one wallet is just not good at all and its just like using only one exchange to look for crypto gems.

I think it's an illusion. One hundred dollars is unlikely to ever turn into a good number that your future can provide. Unless you're determined to live too long,
In this case, if you have a hundred dollars, there is no point in owning a hardware wallet, unless you got it as a gift. Use Electrum. And be sure to follow all the safety rules, including the hygiene of your operating system, the storage of seed phrases, and the utmost care in terms of surfing the Internet so as not to catch any malware. In the absence of security on the network, no matter how many wallets you own, you are always at risk of being hacked.

Rule of thumb should be to always spread your risk and your best bet is to have a cold wallet which you will need to store your coins for long term use and a couple of hot wallets which you could use for daily use, though I would suggest having to use multiple wallets in case of a hack you don't get to lose all your hard earned funds!

I have several of them as a precaution, especially the hot wallets besides who is counting..

if the crypto assets that we currently have are quite large then storing them in several wallets I think is too complicated for us to do because there are so many privatekeys that we have to take good care of, but we can store in two wallets, one for offline storage and the other online that we use in investing and I think both wallets are enough and we also have to apply maximum security so as not to There are negative things that will happen later.

As a trader it's fine to have custodial wallets but if you are having them for purpose of storing your funds then it's very risky and should be avoided at any costs.What OP is really asking is to have different wallets to have your funds but that also have risks like you forget seed phrases then it would be a problem for you but you can use different addresses from one seed which is much safer.But having trust on these exchanges is really risky for me.

Currently, I have many wallets since hacking nowadays is too often. But the primary storage for my funds is only one (hardware wallet). I have many wallets because I'm using them to buy and sell my altcoins, and connecting your wallet to too many websites is risky. I can't monitor all websites that have been leaked, so instead of being afraid of using my previous wallet, I would create a new one. After all, creating a wallet is free, and it's too easy.

Lest do some Math on how much you would make when bitcoin increased to 50% of your current investment then equating it to the capital to know which amount you are holding.
For instance; using the current price of bitcoin $22,464.85
invested capital $100 and then if the market increases to 50%, which is $22,464.85/2 = $11,232.42‬ + 22,464.85 then for a 50% increase of bitcoin will results $33,697.27. putting it into your investment of $100,
100/100 = 1, then 50 x 1 = $50, Therefore $50 + $100 = $150 at 50% Price increase.
This simply means whenever bitcoin gets $33,697.27‬ he would gain $150, which i don't think one could panic about having multiple address for  $50 increase. I hope you understand  my silly calculations.

Being paranoid is better rather than on losing all of your assets because we dont really know that there are really things which we do missed up specially on security matters which means that there's no assurance that it would be having that 100% security but having that measures like cold storage and wont really be that a bad idea or something that recommendable.
You cant really just make yourself that confident specially if this one involves huge amount of money.In my part on which i do really make out wallets which are intend for using up on trading
and one is for long term holds.

I use a hard wallet to store long -term assets like Bitcoin and ETH, and the rest I store on Binance used to trade every day. I think there are many wallets is also necessary because as you say that we can avoid being attacked but I have difficulty storing private keys. Therefore, I only use a wallet and always keep them offline. I have applied this method for the past 5 years and have not encountered any problems.

I think I have only two. (Three if we include web wallets/exchanges).
I believe it is not necessary to have many wallets unless someone is going with the strategy of dividing a large quantity or Bitcoin within different seeds, for security reasons.  Most people should be okay with only two, hot and cold wallet.

Also, I would suggest anyone not to dispose of their seeds, there has been cases people needed to sign a message from their old empty wallets to prove their identity and could not.   ;)

I guess what he means is, if you need to use different wallets, and you are not familiar with 1 or 2, would you really import your one and only seed phrase onto that wallet? Guess not. So having multiple wallets could help you in many situations like this, and also you can create a new one as well if you are concern about the security. So you might get away with one wallet for day to day use, but when it comes to some situations like this, then it is better to have multiple one. OP does have a valid point here.

it's not about memorizing. Anything could happen at any moments. Even if you keep them backed up and store them securely, you have the chances of getting hacked. And what happens if anyone gets the hold of your seed's backup. Then your wallet is gone, even if you have other backups as well.

Having a cold wallet is something we can't classify as unusual, because the hacking methods are improving every day, and crypto holders should guarantee they have the highest level of security to avoid being victims to these methods. Personally, I still haven't bought a hard wallet since it's rare in my country, but I have it in my plans as I want to call someone outside my country to buy it for me. However, I'm very curious when it comes to dealing with unknown crypto services or unknown links, so luckily I haven't suffered any hacks till now.

Going by your topic and as sensitive as it is, one would have the thought of owning more than one wallet for his or her own safety if in the case of possible hack, funds a d assets are split amongst various wallets so that one does not entirely looses all their hard earned funds and assets. These wallets possibly might be on different chains as the case may be. What one would need to do is converting your funds From the initial payment be it in bitcoin , ether etc to the chain coin then the next meeting be is sending your coin to their various wallets for storage. Any storage wallet of your choice is ok as long as you are in possession of your private keys and passphrase then you are safe storing your assets in that wallet. Mind you you alone should have assess to your keys for security purpose.

The first Bitcoin wallet was a hot wallet, and a miner wallet, all in one. It was from the software now called Bitcoin Core.

So, in a way, cold wallets are historically unusual as they evolved from the normal, hot wallets.

But having said that, it's the modern way to make sure your coins are as safe as possible. And in that way, they shouldn't be treated as unusual, as they should be the norm today for any substantial amount (i.e. not pocket change).

I actually had at least 6 personal digital wallets. Diversifying all my crypto coins there but i didn't hold huge amount of crypto as it is still prone to hacks and other conflicts. As I have experienced such freeze account on one of my crypto wallet, that's why it was a lesson learned for me since it was so depressing on my side to just let go of that crypto i had which I did not manage to withdraw anymore.

I mainly use multiple wallets. First of all I use the online software wallet (Trust Wallet). But now since exchange can convert coins/dollars to my country's currency, I use exchange wallet and keep my coins/dollars here. But the two mediums that I mentioned are very risky. We have to use it despite the risk. But I decided to buy a hardware wallet very soon. I have discussed this with my expat brother and he has agreed to send hardware wallet for me from his country very soon. But I hope to get a hardware wallet soon. And I can reduce most of the risk.

Many people do have multiple bitcoin wallets, and they use these wallets for different purposes. One of the main reasons for having multiple wallets is to avoid losing all the bitcoins if anything happens to the wallet. People with huge numbers of bitcoin have multiple bitcoin wallets for that reason.

Some people who use multiple wallets to spend and do easy transactions have a permanent wallet where they put the majority of their assets and have multiple secondary wallets where they do regular transactions with bitcoin.

I have 3 wallets within a single one, all 3 are electrum wallets with 2 being offline and one online. My cold storage consists of coins bought in 2014 and I have another one that has coins bought post 2018. The online wallet is my pocket change wallet used for campaign funds and quick access. None of these 3 ever got compromised in any way and I've never lost any coins to malware, hacks, or my own mistakes.
IMO making multiple wallets with many seed phrases and passwords is just a waste of time, unless you need to separate funds, like when campaign managers keep each campaign on a separate wallet. That makes sense. You could also want to do it if you're managing people's portfolios, trading for them, and so on. If you're a normal person who buys and holds, get yourself a cold storage device and a phone wallet for daily payments and you're good to go.

I get asked a lot when to buy a hardware wallet and I see people asking about it in this thread.
You should definitely do it when the price of a wallet falls below 1% of the value of your assets. In other words, if you can buy a Trezor or Ledger for $60, getting near 6k in bitcoin should make you think of improving your security. For someone holding $600, buying a $60 wallet may be expensive and there are other safe ways to store bitcoin to choose from.

If you can afford to manage multiple private keys then using multiple wallets is a very good thing, but in my opinion, it doesn't matter if we use one or more wallets. The issue we need to care about is how we protect it from online threats as well as real-life risks. As long as you do a good job of securing your device, a wallet shouldn't be too risky. If we consider crypto as a long term business, bitcoin is an asset for our future, then we should spend some money to own a cold wallet as it is the best way to protect our assets.

I have one hardware wallet and I've got 2 desktop wallets and I mostly use one for my other transactions. And keeping most of my assets, they're all placed on my hardware wallet.
I only check the balances of it if I just want to and I rarely use my hardware wallet because my funds there were kept as if it's an offline storage so that basically how I use it.
While those desktop wallets that I use are for different purposes, it's not taking much from my offline wallet as I've said it's been there to be kept for many years and someday, I'll pull it off when we're on a greater bull run.

These are actually good point you just listed above O.P, because it's never always to put all eggs in one basket, and that also applies to Crypto too, so that in case of a hack, you don't have to loss all your funds. But another important thing is that it's not always advisable to leave your funds on an exchange wallet, as that's a very big risk, whereby you may stand to loose all your money if by mistake the exchange happens to go bankrupt, just like in the case of FTX.

It doesn’t matter how many wallets you own. What it matters is that, how secure are the wallets that you have ? As always suggested before, don’t use inline wallets. As they don’t give you complete access to your own wallets. Now I know some will shout that, these wallet providers are there in the business for long time, but still why we should take risk with our own hard earned money. Similarly, don’t keep your funds in exchanges also, as I know many of us have heard about the FTX scam. At last I would suggest have one to two, cold storage wallets and use them carefully.

Well I'm not being paranoid because there are a lot of hacks out there but right now I have at least five wallets for different crypto since many cryptos right now offer low fees for transactions. Right now cold wallet isn't my priority yet because I'm not holding for so long for altcoins except Bitcoin.

I'm using only OWNR wallet, and I don't have any issues with that. I need a non-custodial wallet because I own a few different coins and sometimes use them, and I don't think it's possible to hack it somehow unless info about my seed phrase will be leaked. But I have it on paper and it can't be leaked just like that.

Why not buy a hardware wallet? Although, it's not bad to use a cold wallet as long as you're careful and you know where your privates and passwords are safe.

    So based on what you're saying, what you're doing now is clearly that you're not just putting your eggs in one basket, but instead you're putting them in many baskets, am I right in what I'm saying about you?

No you are not paranoid, better be safe and have a few more wallets than lose all your money in case one wallet get hacked. There is no real cost to having multiple crypto wallets, the only downside is it's more work to store all the private keys and we have to pay transaction fees to move coins between our wallet. But I would rather pay a little bit more fees than to face security issues. One big advantage of multiple wallets is that it's easier to organise our coins and separate them for their purposes. I have one mobile wallet, it has the lowest security and I keep only 100-150 USD on it, the main purpose of it is to move money between online casinos or to buy something small quickly. My second wallet is an online wallet with a bit higher security, here I collect my gambling winnings and my signature campaign earnings. It's also where I send my coins that I buy on an exchange. And once it reaches 1000 USD I transfer it to my last two wallets. I have one paper wallet and one hardware wallet that I use to for long term storage.

I have three Bitcoin wallets. First is the online wallet that was my first place to store crypto. I barely use it, I just keep some old funds there. Probably lazy to move them. Second is a wallet with small amount of Bitcoin. I use it for transactions. It is a wallet installed on a PC. Third is a hardware wallet I use to store Bitcoin. A place where I hold most of my crypto.

You don't really need multiple wallets but of course, when you separate your main wallet from the one you are using often for transactions, you will making a high chance to avoid accidents such as wrong transaction address or something like that, and also you are not putting your main crypto assets into some kind of transparency where all people see it and maybe you might gonna attract someone who will gonna be interested in your money when they see it and they will gonna do everything they can to steal it from you. remember not everything is good to flex on the internet and hiding your crypto is really better than letting anyone know it.

I don't think you need multiple wallets. If you have a lot of BTC, just get a proper cold wallet. If you have a diversified portfolio just keep it safe and make sure you're using, again, a proper wallet.

the gain you said only happens when we have very many assets. if we don't have many assets, then choosing a hard wallet is the best. So far, I even only have a wallet for bitcoin and for altcoins, I only use MEW or trust wallet depending on the situation. For the rest I keep in CEX for trading or use it as needed instantly.

However, having too many wallets will also make you confused about managing them. if you think you can lose your private key, what if you have multiple wallets, it will be easier to lose one of them. Besides that, many wallets mean many fees. well, people have different ways of storing their assets. but it's better to have a wallet as necessary.

If using a hardware wallet, we only need 1 hardware wallet, but if you do not use a hardware wallet but instead a software wallet, the use of 2 to 3 wallets is necessary. I am also using 3 wallets to hold my bitcoins safe. In there is 1 wallet that is always offline, and that is the main wallet where I store all my assets.

I think you're not following the case of Lukedashjr on two months ago, he was got hacked even though he was holding his coins on a hardware wallet. So @OP think holding in one wallet isn't completely safe because there's a chance your hardware wallet got hacked, although there's no update how he can got hacked.

But many people were assuming Lukedashjr's device was compromised and that's make how the hacker can steal his coins.

if asked how many crypto wallets i have, i have more than one crypto wallet but i have main wallet which i don't connect and use for anything be it airdrop or payments
The wallet is only specifically for storing my assets and I store seeds properly so that there are no mistakes leading to loss

I use different wallets for different tasks, so I have to manage multiple wallets. Using only one wallet in multiple places exposes that wallet to many risks.  Because hackers have more eyes on that wallet. And using one wallet in multiple places results in high quality multiple time multiple transactions in that wallet.  And for special needs there is a need to keep high amount of crypto.  So it is also high risk. So it is better to use multiple wallets instead of just one wallet

Yup, that's the strategy behind it. However, I am keeping most of the funds on ledger only. I am shifting my coins to ledger now and then. I have addresses created as per the purpose and I keep updating them all the time if I am trading with someone or for something out there.

My strategy is to keep funds segregated as per the use of it. For example, I would barely expose my parent address or ledger address to anyone out there. All of the money that I am receiving will be on the quickly generated bitcoin address. After sometime Or whenever I get the time I will shift those coins to my ledger wallet address.

If I am very suspicious about the transaction I would just make the coins go through the Mixer first. Just in case to avoid any confusion with my brain and heart in the later times.  :D

I wonder why anyone would wanna forget their private keys such persons should be termed as jokers and unserious individuals as the only condition for exception is a situation of loss of memory as due to an accident outside this parameters there's no exceptions. There are so many recommended ways people can keep safe their private keys and a person can pick two or more of them all to use in safe keeping his private keys to avoid this excuse of forgetting it because private keys are not something you memorize to keep in the head.

Your coins were not freezed in your own self custody wallet, because that is not possible; i am sure your funds were freezed in an exchange crypto wallet or a centralized crypto service, do not store any funds in a wallet that you do not have its recovery phrase or private keys, such as in Binance, Kraken, etc. "Not your keys, not your coins", i hope you learn from that loss and use non-custodial wallets like electrum, BlueWallet, etc which allow you to control your funds and have your keys and recovery phrase.

I have several wallets and these are one of these that I use most.
1. Trust wallet
2. Metamask
3. Zerion wallet etc
And in future I want to use more

First of all, is to make it clear the difference between a wallet and an address because looks like for OP those two terms are the same things.

The bitcoins are held in bitcoin address, and the bitcoin address can be imported into the wallets by the private key. Some wallets have a seed that is used to generate addresses and to provide a backup to the users, but is important to understand that users can have the same address in different wallets, but for security reasons, this is not recommended.

Honestly, if I knew what I know now when I started I wouldn't own more than two different wallets. Owning more wallets isn't a status symbol in anyway and I like to keep it simple. Freewallet was one of the first wallets I had before I moved to Blockchain wallet, and then to more others. I later learnt that Freewallet went rogue. There was a day I tried logging in to assess the few cryptos I had on that wallet but couldn't. At that time there were many people who also complained of being locked out of their wallets. It was a common complaint then.

I think the best way is to have multiple different wallets set up to do different things from long-term savings to spending in person.

- Air-gapped hardware device for long term savings. Maybe use a multisig setup for this. It should be relatively difficult to access to protect if from bad actors and make it difficult for you to spend it easily. I personally use a SeedSigner and a ColdCard for my air-gapped devices.
 
- Connected hardware device for short term savings and online spending (when I am ready to spend). This will likely be a ColdCard that I connect directly to my computer to sign transactions. No crazy security processes. Just plug, sign, and send.

- Software wallets: I only use Sparrow wallet on my desktop but I have electrum because it's a great wallet as well but I can CoinJoin with Sparrow and send the CoinJoined coins to one of my hardware devices after a certain number of mixes. I cannot recommend Sparrow enough.

- Mobile Wallets: I use blue wallet for most on-chain transactions because I like that I can easily create different accounts and I have manual control of the miner fee and I can connect to my own node. It's the best mobile wallet that I have used but I know that there are a bunch of other good ones like Green, Nunchuk, and more.

- Lightning wallets: I use Muun, Phoenix, Breez, Wallet Of Satoshi, and Zeus. I use each one for different things.
 I like Muun the most but it is not compatible with Nostr (here's my npub if you wanna connect: npub1ftrnkvl0hdud65yacyvcn6sx2w7lfztdp2957wp344dcc9s3yf8qm56ykf )  and while I like Phoenix, it's not quite as frictionless as Muun. I really like the delete wallet feature on Muun so I can create a new wallet after I am done with an experiment or something. Breez is great for anyone who runs a store but I have not used it much since I don't have a store to run. I think it will be really useful for onboarding new merchants but I think we are a long way from that. Wallet of Satoshi is what I use to receive zaps on Nostr and it works but I don't like that it's a custodial app so I do whatever I can to direct people to other wallets. Finally, I use Zeus for all of my LN experiments to actually send through my node.  When the time comes to spend in person, I will use any combination of these wallets to receive and send on lightning.

Overall, that makes about 8 wallets that I use on the regular but I have plans to experiment with even more in the future.

Everything has advantage and disadvantage. Personally I would not advise anyone to have multiple wallet instead one is okay with open source wallet and well secured one as that. If you have multiple Wallets there is no way you not do mistake login passwords or mis-keeping the keys in different places. In fact having multiple Wallets is more dangerous than having one wallet. You are afraid of losing all your coin in one wallet. But single wallet is more preferable because private key, password and seed phrase are all one so there is no way you mistyped one for another. And that is why you have to security concern and be vigilant in whatever you do with your wallet.  But you can at least have like two wallets. One for hodling and the other for expenses

Forgetting private key is not something we pray to happen to us but they have been cases where private key or secret phrase has been forgotten or lost, I think that's what Op is referring to. You never can tell what's going to happen tomorrow, you might be doing fine today and tomorrow be on the street same also applies to your secret phrase the place where you kept the private key may be okay today and tomorrow it might become one of the most vunerable place. You just can't tell what the future holds. 

In my opinion, having multiple bitcoin wallets is a very reasonable precaution.

There is a very small (but non-zero probability) that another user will randomly choose a Seed - Phrase absolutely identical to your Seed - Phrase. This is almost unbelievable, but possible event. In this case, you will lose all your Bitcoins.

However, this precaution will be completely unnecessary if you lose control of all the Seeds - Phrases of your wallets.  

Therefore, it seems appropriate to store the recorded Seed - Phrases from different wallets in different places.  

If your Seed - Phrases are encrypted, then it seems appropriate to use a separate encryption method for each Seed - Phrases.

I used to use several wallets and exchanges, it was inconvenient and tedious. Now I understand how actually unsafe it was.
Now I use only one non-custodial Ownr wallet and plan to buy a hardware wallet in the future.
It seems to me that having multiple wallets is much worse just because you can mix up passwords or seed-phrases. It's just going to make your life harder.

You can store all your private keys in one paper and on one location in order to less complicate things but this won't make sense at all once someone finds it because no matter how many wallets you have all of them are still going to be emptied. Two wallets must be ideal for all of us because I am also doing this.

One is strictly for storing Bitcoins and the other is an Ethereum wallet which supports Erc20 tokens and other kinds of altcoins and tokens. I do this because I found ETH wallets less secure, that's why I only keep less money on them. I also trust Bitcoin more in terms of profitability and stability, I mean it's unlikely to turn into a scam due to its old age.

You can always add a passphrase to the normal set of words, and you simply don't print the passphrase there.

That means that anyone can see the seed words but it won't work because they're lacking your passphrase.

You could have multiple copies of it stored anywhere, relatively safely.

The point isn't how many wallets one has, but rather the level of security expected, as the OP here said.


He talks more about bitcoin, meaning that the wallet needed is enough to choose Electrum and when other considerations for storage of assets other than bitcoin, then just choose one more from the source that suits the user, suggesting multiple wallets will also confuse the OP. I'm sure he and others prefer to pick one or two of the safest wallets to use on a regular basis.

These are the cases of people who holds big number of bitcoins. I personally have one, and that is more than enough for me and I never needed anything more.

I understand that some people may want to have multiple because they have a ton of money and they want to spread it around so that if they can't access to one, they are not out of all of their money but just a part of it, but as someone who doesn't even have that much, I could simply put it on any exchange and if something happens to it, it wouldn't be too much money to screw up my life, it would be very much normal, I don't have many and don't need multiple wallets.

I can see why you would need at least 3 wallets.

One wallet would have most of your savings, in cold storage.

Another wallet would be a hot wallet, able to move coins around easily on your laptop.

And a third, mobile wallet, for lightning stuff.

I think that's the optimum minimum amount of wallets today.

I own a couple of wallets and I try to divide my Bitcoin up so that if one was stolen the rest of my Bitcoin would not be stolen. All of the wallets are paper wallets or hardware wallets. I really like hardware wallets and might purchase more so that I can still log in and check the balance and send transactions when needed without worrying about the security of my device.

I somewhat agree. At best, one wallet for your "savings" that is offline and protected, another that is used for everyday daily spending. Both self-custody wallets of course. Any more wallets than that and I think that's a recipe for getting things confused. I don't really see what the purpose of having more than one or two would be, it's not like it's one address per wallet!

All private keys should be generated off line even if you later connect to the internet but I think hardware wallets are safer because the private key or pin is never exposed to the computer that it connects to. I think hardware wallets are the future and I hope their price goes down so they become more accessible.

Since we are talking about crypto wallet not just Bitcoin then I have a couple of wallets that I use.
For example the one that I used for storing my crypto for a long term, and the wallet that I use for small transactions or regular transactions.
I also have some wallet for different plat forms.

I don't really like cold wallets because I'm afraid I will lose them.
I mostly use hot wallets, and I have a lot of them. It's always good to have a new wallet to receive or send money because this way your identity and previous transactions would be hidden.

This does not make sense how do you fear losing a cold wallet when it is protected from a lot of the reasons people lose their Bitcoin? Hot wallets are easier to attack and easier to lose money. I think you should read what each term means because I think you are confused what they mean.

 I think it's a good idea to have multiple wallets and addresses and to take all necessary precautions to secure your cryptocurrency assets.

 It may seem like overkill to some, but when it comes to your hard-earned money, it's always better to be safe than sorry.   in fact, many experts recommend diversifying your cryptocurrency holdings across multiple wallets and exchanges to reduce the risk of losing all your assets in case of a hack or security breach

Everybody already said everything, good to see that we are all educated in the good practices of using crypto wallets.

+ No doubt that a cold wallet (generated offline, and kept offline) is the most secure wallet to store the assets.
+ But Hot wallets are convenient and useful for everyday use.
Both, cold and hot, must be your wallet, and you must to have the keys.

+ Wallets in third party exchanges shouldn't be used to store cryptos, only to trade. Exchanges can go broke or be seized by the US government and stole all your cryptos (goxed again!).
Rememebr what Satoshi said, we don't need third parties!




It is better to have 10 wallets with 0.1BTC each than 1 wallet with 1BTC. If the price increase a lot in the future, you will be harder to track if you have your balance split between multiple wallets.

More wallets = more privacy

It is important to compare and contrast the benefits and risks of having multiple online wallets and make a decision on what makes sense to you considering your goals.
But the risks are quite significant and having multiple wallets doesn’t change the risk that can occur.
If having multiple wallets but no security measures, like using strong passwords, enabling two-factor authentication and keeping your wallet software and devices up to date with the latest security patches, things might still go wrong.

Anything that is stored online should not be considered safe.

Don't keep more than a small amount of spendable money in an online wallet.

Even an experienced dev like Luke Dashjr had all his coins stolen because the wallets were online.

It is true that online storage is riskier than offline storage, but whether it is safe is still how we use them and how we protect them. It cannot be said entirely that offline will not lose assets, and online will lose assets.

If you store it offline and subjectively think it is safe, you may not be attacked by viruses or hackers. But when storing offline, your assets are at risk of natural disasters, and unexpected incidents such as theft and loss attacks...There is no safest method, it all depends on us.

Are you for real? Do you even know the difference between cold wallet and hot wallet? if you are scared of a wallet that hasn't been connected to the internet and has a low risk of been infected with malware and then love a wallet that you are constantly exposing to the internet and also surfing sites that could have malwares that might be able to steal your detail, is kind of shocking you're the first person I have seen saying such.
Or maybe perhaps you mixed up things, maybe you mistook cold wallet for hot and hot wallet for cold wallet, but if this is not the case then you probably should do more research on both of them.

Actually we don't need many wallets because with many wallets we will need a lot of security measures to protect our wallets.
Two wallets are enough, one as a hot wallet and one as a cold wallet.
Store your PK properly with enough backups to avoid difficult things happening, and also always ensure that your cold wallet is never connected to the internet and store large funds there not in a hot wallet that is vulnerable to hacks. Also, don't ever think of an online wallet as a wallet even though they have 2FA features but that doesn't guarantee the security of your assets at all.

Why would I need a lot of crypto wallets? I have only OWNR, and it's enough for me. I'd love to have a cold wallet, but I don't have so much BTC so it would be necessary, and I have a few different altcoins.

I guess that he never owned a hardware wallet and never took the time to learn about hardware wallet operations. As far as I understand, he is afraid keeping a hardware wallet will be easier to lose because it is physical and will be harder to protect than a hot wallet. He doesn't know that all our assets are on the blockchain and not on any wallet, and what we need to protect is the seed phrase. This mistake is very dangerous, he needs to re-learn both wallets to have the correct perception.

I don't think you should be much concerned about what people think, you made the decision that is in your best interest unless you want others advice. For me I use different wallet and I make sure to keep my pneumonics safe.

OWNR wallet is closed-source (https://ownrwallet.com/blog/open-source-and-closed-source-difference/) and their justification of why not disclosing the codebase of a wallet is a good thing is not quite convincing. They claim that most reviewers on GitHub are not 'professional" developers, which is why they are not capable of finding some "sophisticated" bugs. The reality, however, is that you need to trust that OWNR wallet developers are professional enough to find and fix those sophisticated bugs. You also have no way to verify independently or with the help of community of individual developmers that a certain cryptocurrency wallet is actually secure enough to keep any amount, and that it doesn't contain malicious code that can track your transactions, create weak secrets or steal all your cryptocurrency holdings in the future when the company behind this wallet decides to run away with customers' money.

It is simply a matter of choosing the most practical wallet for transactions, keeping my private 12 key words safe, and checking on it every time I log out of my account. As you decide which wallet to use and make important judgments regarding what to do next, making the choice that seems ideal for you is entirely none of other people's business. I've been in the market for a while, and I occasionally change my mind. Some orders result in losses, while others bring in profits. I simply make excellent use of my initiative, and that has sustained me up to this point.

Yes, you're right.

I was assuming that the offline wallet was secured properly, with backups.

In the same way that the online wallet is secured with a pin or password, etc.

The thing is that if your wallet keys are not stored online, then the probability of someone just guessing your key is virtually zero. It all comes down to you not losing access to your own keys.

I only use my cold wallet from Ledger to hold and protect, and Electrum when I need to quickly buy/sell. These are enough in general in my opinion. I observe many people consider centralized exchanges as their wallets but I always explain them they need to own keys to their house. This type of explanation generally helps them understand. I think owning a Ledger is literally the best investment you can make. Its very easy to use in my own experience and you feel so safe and don't worry what's gonna happen with your money etc.

I haven't heard of it before maybe it's because I don't deal with Solana networks that much, but you should make sure it's an open-source wallet and if possible you can even compile the code yourself to be in a safer spot. That way you can be sure that you're using a safe wallet because you never can tell if the code that was published is the same as the app that you're downloading from playstore or whatever place you download your apps from.

And again when you're looking for a Bitcoin wallet make sure you go for a well known wallet and if you have enough funds then you can just purchase a hardware wallet but if there is no funds you can use a cold wallet, it also as secure as your hardware wallet.

Your approach should be

1 cold wallet
1 hot wallet for daily use

As simple as that and effective. That's how many people are holding bitcoin.

This is true, but you won't get hacked if you don't do something stupid such as clicking malwares, letting people use your device and etc.

I don't think you can "forget" your private key since you don't memorize it. Just write it or print it on a piece of paper and store it in somewhere safe place. It's not that hard to do.

Let's be honest here, lot of people here don't really care about privacy since they are already giving their identities to exchanges for KYC purpose. It's already common thing in crypto world.

You are doing fine, you do all you can to secure your wallet by storing in multiple wallets. The chance of us get hacked is still there, but we can lower it if we don't do something malicious.

To every thing we so do there's an advantage and a disadvantage that follows it all depends on how we have prepared ourselves to keep both sides in check. it's a good idea  creating different wallets for your assets not putting all your eggs in one basket but on the other  side of the disadvantage where you have to hold many different private keys under your care due to multiple wallets and that alone can compromise with your capability of having to hide these keys securely in different places.

Cold wallets, or hardware wallets, give more security than online wallets; they have additional security that doesn't just make it easy to hack, so if you can set up a cold wallet, you don't really need to have multiple online wallets.

Putting eggs in many baskets is a good idea, but creating and storing too many private keys is too inconvenient for us, we will spend a lot of time taking care of all the private keys, seed phrases. Instead, you only need to spend a small amount of money to own a hardware wallet, it is both safe and saves us more time.

I know many people feel sorry for spending money on hardware wallets and think that using software wallets is safe enough, but we will regret it if unfortunately our assets are hacked when stored on soft wallets.

I do really prefer hardware wallets, but it is expensive and not that affordable. That is why others are sticking to online wallets, and to prevent getting hacked, they will be creating multiple wallets that they spread across their bitcoin. If you already hold a huge chunk of bitcoin, it is better to use hardware wallets to be more safe, and you can carry it everywhere you want or store it in a safe.

I only use Klever wallet under trc20, now if I save bitcoin for sure I will use Electrum and nothing else. This is the only wallet I know that is highly trusted by most of the industry's communities here. Then metamask who downloads the metamask extension has a risk when it suddenly updates in the chrome browser. So the metamask for pc is still better too.

A hardware wallet is not expensive, it has many versions for you to choose from, if you don't want to spend too much money on a hardware wallet then choose a cheaper wallet. A month ago, my friend bought a trezor hardware wallet for only $80 including shipping. I find that to be a very cheap price for all of us, it makes perfect sense to take $80 in exchange for our safety. As long as you save a little, stop drinking coffee, or stop drinking for a month, I think you have enough money to buy a hardware wallet.

No you are not paranoid, when it comes to the security of our money we should invest more time and money to avoid losing coins long term. Over the years I had many different wallets, right now I probably still have 10 active wallets out of which I am using 4. For me the best approach is do have seperate wallets for each purpose. My smallest wallet is a mobile wallet where I keep only a balance below 100 USD. This is the lowest form of security and I only have it for quick purchases. The second wallet is an online wallet where I usually keep less than 1,000 USD. This my wallet where I deposit and withdraw my gambling money. Once the balance becomes to big I send the coins to my third wallet, a paper wallet which I use for medium term storage and to buy any bigger items from. My last wallet is my hodl wallet where I only deposit money and never want to withdraw coins from. Only in emergencies I would consider taking money. Maybe I am also paranoid, but it doesn't cost much time or money to run multiple wallets.

I think everyone should design their own system that works for them, and having at least 2 or 3 wallets seem to be the best.

You definitely need at least a wallet with small amounts for every day transactions, and a cold wallet with savings.

On top of that you can be creative depending on your circumstances.

Everytime I see topics like these that ask for personal information on finances or person data, I get a bit weirded out.

I do not think that its a good idea to give away information like this. Just the other week some guy was asking about how much Bitcoin everyone has. Combine that data with the amount of wallets information OP is asking and perhaps a few more replies on some other topics and you can start connecting the dots which trace back to you.

This is dangerous, especially since there are a lot of scammers around, hoping to trick you somehow into handing over your money to them....

They may even dox/threaten you.

People need to be more self aware on these forums. :-\

I got only one wallet which is Ownr wallet

Yeah, but if you post what is your mother's maiden name, your first pet, and the high school you went to, this popular website can tell you what animal you are  ;D

It's crazy the amount of personal information people post online, linked to their own real identity. People post when they are on holidays and their home address for example, and there have been robberies because of this.

I guess people crave the likes, and being popular online, so they share everything.

This is what im doing on which i do only have 2-3 wallets.

1. Electrum/MEW- Long term holds
2. Metamask- Active trading on BSC or multichains
3. Metamask- Airdrops/Giveaways

This is what i do make out that partitioning on which you arent really that making of your main wallet to deal up with things which could potentially be
used up actively and connected to net.This is why its better to have on this way rather than on a single wallet to have.Just like you have said
that this is actually depending on the situation and preference of a certain user.

I hope you realize that Metamask doesn't deal with the Bitcoin blockchain, so anything you have there is an altcoin, not Bitcoin.

Just want to be very clear at that, because some people don't realize the difference.

Got few to make diversification, the most hardest part is to remember all passwords

I agree.
Minimum 1 cold wallet.
One Hot wallet.
One Lightning wallet.

You are totally right, Let me tell you about my first interview. It was with a call center in my city. I thought it was a great chance to improve my English while I could earn money too. Well, I went there, and the employer asked me to read a script full of questions like: What is your dog's name, Where was your firstborn, How old are you, And when is your birthday or your dog's birthday? I found these questions strange, (because these questions were not about me, he said you have to ask these questions of other people located in Europe or other Tier-1 countries); well, when I realized what type of call center it was, I made up my mind while I was in front of him and started cross-questioning. I said this is illegal, he said no, we are doing our work.

Actually, he was selling some sort of TV component. Well, i was appointed, but I rejected the job as it was totally illegal and unproductive. The point is, sharing information about your personal data is quite dangerous, just like sharing how many wallets you own or use. (hehe)

One or two crypto wallets are sufficient enough for any crypto investors, I can't say about others but this is what I do, one is specifically for airdrop and testnet tasks and the other is my main hot wallet for transactions and DCA for Bitcoin, I plan to buy hardware wallet soon but I have confidence that my recovery seeds are safe, one cold wallet and one hot wallet is more than enough.

The number of wallets needed really depends on the needs of each user. I don't really mind how much, as long as it's safe and recommended for daily needs, it's good. Also if you care about privacy it might be worth having multiple wallets (Open Source and trusted) to get a few different addresses to accept payments from. Recommended, of course if you care about privacy.

I think it's still safe to get small amount of bitcoin in online wallets, it's good for day to day needs and use. Whereas if you have lots of bitcoin then consider offline wallets as well as hardware wallets, you can also have multiple wallets as long as you can afford it.

I always advocate towards using a cold wallet to store and gather cryptocurrencies, and transferring those only when you feel the need. You shouldn't save it on CEXs, on Hot wallets that are connected to the internet, and most definitely not on your phone that could easily get stolen the minute you forget about it when you take your latte from that one time you visited your local cafe. The benefits that cold wallets carry with them when it comes to security and portability is just so indispensable I couldn't stress how important it is to someone who wants to invest in the cryptocurrency world. At this point in time hackings are becoming more and more a common sight that some may think of it as a rite of passage, but it shouldn't be that way. So do yourself a favor, buy a cold wallet, and your future self will thank you when it saves your ass and your coins from a major hacking that could happen in the future.

I try to give that person the benefit of the doubt and maybe they didn't realize what they were doing, and it was someone else higher up in the company that set up the whole thing to basically socially hack people worldwide.

It's shocking to realize that people actually put time and effort to scam people, it's so annoying and counter productive to society in general.

Exactly, and the funny thing is these people don't even consider these activities immoral. As he said, you have to ask questions and wrote their answers on a page in front of you this page will be your main aim to fill. I said why, and he said we will give this page to our higher ranks members and they will try to apply this information as their TV's Receiver or connection (tbh I cannot remember the part but its needs to recharge) password once we got the password we will ask them to buy our service otherwise we will ban their accounts. I said that's blackmailing. Well, he said that's the nature of work.

Well, his office has been shut down after some time idk where he went.

actually two as you said, very enough to use and you don't need to overdo it even if there is usually to anticipate if the wallet gets hacked, although it's less likely to happen if you don't do anything strange.
but indeed its use can be very different and there is no problem, because the treatment is still the same. especially now for bounties it's not as lively as in 2017 and it seems like you don't need to use a Hardware Wallet yet, will use it if bounties start to get busy and start to be active again in trading.
I now just maximize the use of Metamask because it can cover a lot of needs.

that's what has to be done, don't put assets in one basket, so that if something bad happens we will lose all assets. actually that's its main purpose. but on the other hand we must know how to secure our wallet from the possibility of being hacked, apart from dividing it into several wallets. many incidents of people being hacked started with their own mistakes, where they were tempted by advertisements that might come in, so they followed the directions, and finally they could be hacked

If you have a hardware wallet you will buy more because you don't want to keep your assets in one basket.

I used three different wallets, one is for transaction only, assuming I want to buy bitcoin from a dex or centralized exchange I will use this first wallet, then move the assets from this first wallet into my cold wallet, I am doing this to avoid connecting my cold wallet to any platform, and I use the last wallet for tokens claiming like NFTs, Airdrop, and bounties, the major mistake that many people do is using one wallet for airdrops and buying coins on a dex.

They have forgotten that once you connect your wallet to a platform or swap websites you have authorized or given access to the platform, until you revoke that access.