Bitcoin Forum

Hey guys. Long time lurker, first time poster. I was just wondering how many wallets you typically use to store your cryptocurrency assets. For example, if I have an account at Coinbase, BTC-E, and Bitstamp, plus two cold wallets, I'd say 5. Just go ahead and add them up - props to those who have the most!

Edit: addresses wallets

Well, exchanges have wallets as well. But in general it's 2-5 for me. Id'd have to use more exchanges if I was following new coin releases though. Plus that wallets I don't constantly use are ot added to this.

But fyi, I have more than 100 wallets downloaded to my computer. That's from the old era of Bitcointalk Giveaways. Most of them are dead/hardforked by now. Intresting fact about this would be that at somepoint I try to restore coins from those wallets and got coins worth of 0.80 BTC from one. 0.8 BTC from a giveaway almost a year back aint that bad.  :D

Sorry fot the rambling

Good point. For the purposes of this poll, let's assume that most exchanges are smart enough to disguise your actual wallets and present you with an aggregate balance. Although, if I hold both BTC and LTC, on, say, BTC-E, I'd count that as two "wallets". These are nuances I wanted to steer clear of, just to make this simple.

And, yeah, I'm sure I'm not the only one wishing I'd discovered 0.8 BTC somewhere!  ;D

What if you only have one wallet where you actually store coins, but you use multiple exchanges (without keeping coins there any longer than necessary)?
That's quite a common setup for traders, the price difference between exchanges can be quite profitable at times ;)

Exchanges: BTC-E, Bitstamp, Vircurex, Localbitcoins and Kraken.

Wallets: Blockchain.into, Coinbase, and Paper Wallet.

4 for now...Coinbase and blockchain and a couple smaller amounts on 2 altcoin exchanges.
I do need (want) one on my laptop, so I believe I will download a new one soon.

Exchanges I used: bitstamp and localbitcoins.
Wallets I used: qt and electrum.

I have only used localbitcoins, and store all of them in my bitcoin core wallet. :)




What?

I only use a few of them after some research i select the most trusted, it been working for me

I am using Bitstamp and Btc-e for litecoin.  :)

I'm a bit confused.

Your poll asks how many "exchanges and wallets" I use, but your first post in the thread asks how many "addresses" I use.

Which one are you trying to figure out?

I only use a few wallets, and no exchanges.

I've used a few hundred addresses (I use a new address for every transaction).

Why ? Any chance of getting hacked for using same address twice ?

Yes.  It can happen (and has happened to others) if you are using a bad random number generator. If you sign two different transactions using the same random number then it is possible to calculate the private key from the signatures.

Using a new address for every transaction also increases anonymity and privacy.

I have seen quite some people having confusion with the term "address" and "wallet".

By transaction, do u mean incoming transaction too ?

I currently have 1, but I'm thinking of spreading them out. I'm not sure if I should use digital or paper wallets though.

Every time someone sends me bitcoins, I generate a brand new address to receive with.  Every time I send bitcoins to someone, I generate a brand new address for the change. This is how Satoshi Nakamoto recommended using bitcoin. Because of this, I never use the same private keys to sign any inputs to any transactions.

Ouch !!! this is critical. Can u plz point out where Satoshi Nakamoto recommended this way ?

The gist of it is, I want to know how many different "things" you'd need to log into to figure out your total balance. E.g., log into Coinbase, Bitstamp, and pop open your desktop wallet, so that's 3. It doesn't matter how many addresses you've generated to use with that wallet, unless of course you have a separate one in, say, a mobile wallet.

Is that clearer?


Indeed. If you have an active account, please count it, regardless of whether you are storing cryptocurrency there long-term.

By the way, appreciate all the responses so far. This data will go to good use  ;D

3-4 wallets.

As for exchange, use only 2, and hardly much.

The original Bitcoin Whitepaper. Before he every even released the software.

Section 10. Privacy

What do you recommend as the number of wallets to have?

At least 3.

bitstamp, btc-e, cryptsy, bter, bittrex, poloniex..

why 3?

4 wallets for me. 1 on btc-e, 1 on bitstamp, 1 on my computer, 1 paper wallet.

I am also curious... Why 3?

Maybe one exchange wallet holding 0 btc in 99.9% time only for buy/sell bitcoin, one for for holding a small amount of bitcoin for daily usage, one holding all the rest bitcoin offline.
Just my own guess.

If people are into alt coins, I would think they will have more wallets at exchanges. I don't mine or buy alts, so I only have 3 bitcoin wallets, and 1 exchange account which holds no coins.

With my local currency:

I have a "very secure" storage at the bank, but it's difficult to access the cash if I want it ( either wait until they are open to make a withdrawal, or use an ATM which has limits and fees)

I also can store some cash in my pocket. This is much more convenient (I have the cash immediately at hand at every moment) Unfortunately, this is a high risk situation where a thief could steal it.  Pulling too much out of my pocket can even make me a target for thieves. Therefore, to reduce risk, I generally carry much smaller amounts in my pocket at any moment.

To have easier access, while reducing risk of theft, I can store moderate amounts of cash in my house in a safe. I can use this to replenish what I spend from my pocket.

I use a similar "multi-tier" approach with Bitcoin.

I have paper wallets for "very secure", but inconvenient storage of larger amounts.
I have a web hosted, or mobile device, wallet for high risk but quick access small amounts.
I have an Armory (or Electrum offline) wallet to replenish my "carrying around" wallet or for purchases from websites while at home.

This is a great approach, it should be advocated or at least described on the wiki ...

i do have two wallets but four adresses
 :) :) :)

I use my multibit wallet mostly. And also having some wallet in https://blockchain.info/.

The exchange i mainly using https://www.cryptsy.com.

I use bitcoin-QT with armory and blockchain on my phone.
I try to use as many exchanges as possible, but only keep money on 3 or 4.  Cavirtex, VOS, Bitfinex, Bter, Korbit, Coinplug, Kraken, Btc-e, looking into BitX. 
Used to use Gox, Vicurex and Bitup before they imploded.
Looking forward to the launch of Ciphertade as well.
Peace

I only use a single wallet on my desktop computer, running Bitcoin-QT; I don't actually have many BTCs now due to having got goxxed hard, and I never had lots of them anyway, thus I'm ok with a single-wallet setup (of course with encryption and proper wallet backup).

I trade on various exchanges and I have an active account on almost all the ones trading in EURs, but I don't keep money there unless actively using it.

only cryptsy is real.

I use to use cryptorush.in before they closed down. But that was a scam site anyway!