Why do people create more than one BTC wallet ?

[ufaiz50]

Why do people create more than one BTC wallet ? What are the benefits of it ?

because each wallet has its own advantages there are those who have more security there is also wallet with a small transaction fee. actually there are different goals such as to facilitate in managing their bitcoin and there is a purpose to store their bitcoin if one of the btc wallet in the hack.

[krishnapramod]

Why do people create more than one BTC wallet ? What are the benefits of it ?

I use different wallets because:

1. As a precaution. Handling all your transactions with just one bitcoin address is too risky. Since I use online wallets only, the risk is high, so different wallets on different wallet providers.

2. Fee. Too many small transactions to a single address will pile up the inputs and end up with a high fee for outgoing transactions especially if you are using a blockchain wallet.

3. Fee less transaction. Xapo to Xapo, Coinbase to Coinbase.

And just for fun a couple of custom personalized addresses.

[hajimasan]

may be they fear of lossing their money if one company run away then one would there at least one would there. and some people have lot of money and they might think that if one wallet gets hacked then one will be there to save him. but personally i had not seen anyone using multiple wallets and i myself use only one wallet and i have very little amount so i don't have to worry about lossing my bitcoin and hackers would not try my account to hack i know , just kidding. may be the benefit is that when we have to open our wallet in public then we might lose privacy in opening our wallet in public because other people would then see ones total bitcoin and his privacy would then get exposed. And in order to use a wallet in public he would prefer to keep low balance and in his private account he prefer to keep high amount for trading and other business purpose.

[LouVandetta]

I also use several wallets for a different purposes and each has its own benefit in it. Well for me it is because of fees transaction.
Some wallet didn't use fees for trasnsaction with the same wallet. Also, I use different wallet for trading and for holding my btc.
Especially for holding, I use wallet that makes it easier to connect it with my local bank account.

[rhamzter]

Maybe they scarred to hack their account that's why they make multiple account to spread their savings into different account. Also, maybe they make to secretly hide their savings to their family.

[Amph]

i see two benefit, or maybe 3, the first oen is that with a new wallet you are without a doubt more anonymous, than running with the same wallet with multiple address

because two wallet are not linked with between other, hidden address are still linked, but not all of them are showed on blockchain info

second one is that the transaction size may be smaller for the beginning, because there is less imput and output

third point is that for cold storage having many wallet holding few bitcoin is safer, when you need to load them to use those bitcoin, your risk is lower, in case of infection

[megynacuna]

Maybe they scarred to hack their account that's why they make multiple account to spread their savings into different account. Also, maybe they make to secretly hide their savings to their family.

I agree with you but I also think they create multiple wallets out of curiosity to test the strength and security of the others that they've heard of and so it gets them to spread their investments until the final determination of their preferred wallet.

[bitcoin199]

Security, Privacy and convenience. These are probably the most major causes for that. Keeping multiple wallets in multiple programs and PC's help in security.
regarding privacy, since BTC is open and anyone can see the TX's, having multiple wallets making it harder to link addresses with each other to you.
Regarding convenience, having a web wallet like BC.info makes conducting transactions easier while a wallet like Armory is useful for large long-term holding, so having a wallet in each does serve a purpose.