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Author Topic: How many wallets do I need?  (Read 1903 times)
bitcoinrocks
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April 06, 2015, 09:12:44 PM
 #1

I have 3 wallets:

- main wallet
- Blockchain web wallet
- Wallet32 mobile wallet

I keep my BTC in my main wallet, but when I want to spend some, I transfer that amount to the Blockchain wallet and then use SharedCoin to transfer it to my mobile wallet from where I spend it.  That way the people/businesses I spend money with don't know my total BTC balance.

Now I need to receive some BTC and I'd prefer not to share my total BTC balance with the sender.  Can I have him send the BTC to my existing Blockchain web wallet and then use SharedCoin to send it to my main wallet?  Or do I need to open a second Blockchain web wallet that has never received BTC from my main wallet?
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cyclops
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April 06, 2015, 09:20:46 PM
 #2

Why don't you just generate new addresses? It seems like you have some intricate system there, just generate a new address in the block chain wallet and receive the bit coins there.
bitcoinrocks
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April 06, 2015, 09:29:00 PM
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From what I understand, whenever you send BTC from that wallet afterward, you are potentially linking those different addresses together.
¡ndustrialcoinmagic
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April 06, 2015, 09:40:07 PM
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I currently have an electrum wallet and a few altcoin wallets.

just got a Bwallet from chinna a few weeks ago.
cyclops
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April 06, 2015, 09:40:59 PM
 #5

From what I understand, whenever you send BTC from that wallet afterward, you are potentially linking those different addresses together.

If you want to leave the coins untraced, use Bitmixer.io or wait for Dark Wallet. The function in Blockchain.info is a bit buggy
kingcolex
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April 06, 2015, 09:43:58 PM
 #6

I am rocking 2 wallets right now, my main Trezor multibit hd and a regular multibit wallet (a mining pool has a locked address) I will eventually go to the one and maybe a mobile wallet. I just don't see the need for a ton of wallets.

Snipe85
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April 06, 2015, 09:46:43 PM
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From what I understand, whenever you send BTC from that wallet afterward, you are potentially linking those different addresses together.
You're right. Usually when people receive coins to a new address (call it 1) in their main wallet, containing their old address (2) and want to move them to another address (3) they copy the amount from the transaction list. By doing that they link (2) to the transaction, because there isn't enough funds on (1) for the fee. Just something to remember Wink


bitcoinrocks
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April 06, 2015, 10:23:38 PM
 #8

OK it sounds like I would need 2 Blockchain wallets then.
DannyHamilton
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April 07, 2015, 01:16:38 AM
 #9

I have 3 wallets:

- main wallet
- Blockchain web wallet
- Wallet32 mobile wallet

I keep my BTC in my main wallet, but when I want to spend some, I transfer that amount to the Blockchain wallet and then use SharedCoin to transfer it to my mobile wallet from where I spend it.  That way the people/businesses I spend money with don't know my total BTC balance.

Now I need to receive some BTC and I'd prefer not to share my total BTC balance with the sender.  Can I have him send the BTC to my existing Blockchain web wallet and then use SharedCoin to send it to my main wallet?  Or do I need to open a second Blockchain web wallet that has never received BTC from my main wallet?

You can generate a new address in your existing blockchain wallet.  Then give that address to the sender.  Then once you receive the transaction, you can use SharedSend to send it to your "main wallet".  Once you've done that, you can "archive" the new blockchain.info address so that it will never be used again.  That way it won't be connected to any other address in that wallet.

OK it sounds like I would need 2 Blockchain wallets then.

An additional blockchain wallet won't gain you anything that you can't accomplish with a new address in your existing blockchain wallet.

gugel8989
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April 07, 2015, 01:18:34 AM
 #10

well it depend on ur priority and user. 3 is good for others something.
me, myself only have one wallet that is blockchain. maybe gonna creat other wallet for something.

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achow101
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April 07, 2015, 01:28:15 AM
 #11

I have only one wallet Blockchain.info because I have a little amount  Cheesy
And I feel safe with Blockchain.info password for login and password for send Bitcoin.

notlist3d
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April 07, 2015, 02:19:32 AM
 #12

I think you need at least 2.  You will want one hot and one cold.

One you will keep some spending money in, but not a ton as if you get compromised it chances are this one.   Can use blockchain or other easy ones to access anywhere.

The most important one is your cold storage.  This one you keep the majority of your BTC in.  You will want to use a paper wallet or a few USB's.  Make sure to safely store these.   You might even use a couple cold storage depending on how much you have in it.
lucasjkr
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April 07, 2015, 02:24:12 AM
 #13

It's really a subjective question. You seem to know your situation better than anyone else- all that matters is you think it's appropriate.
bitkilo
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April 07, 2015, 02:37:40 AM
 #14

There really is no need for more than 2 wallets, 1 for cold storage and another for a hot wallet, even then you could do that using the one wallet provider.

If all you want is a receiving address that is not connected to your main BTC stash then as many other have said just generate a new address for each transaction.

But with all that said if your like me and just like playing around with any new wallet that hits the market then go ahead and download them all, i have about 4 active wallets and 4 that i don't use anymore.

bitcoinrocks
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April 07, 2015, 04:00:03 PM
 #15

I have 3 wallets:

- main wallet
- Blockchain web wallet
- Wallet32 mobile wallet

I keep my BTC in my main wallet, but when I want to spend some, I transfer that amount to the Blockchain wallet and then use SharedCoin to transfer it to my mobile wallet from where I spend it.  That way the people/businesses I spend money with don't know my total BTC balance.

Now I need to receive some BTC and I'd prefer not to share my total BTC balance with the sender.  Can I have him send the BTC to my existing Blockchain web wallet and then use SharedCoin to send it to my main wallet?  Or do I need to open a second Blockchain web wallet that has never received BTC from my main wallet?

You can generate a new address in your existing blockchain wallet.  Then give that address to the sender.  Then once you receive the transaction, you can use SharedSend to send it to your "main wallet".  Once you've done that, you can "archive" the new blockchain.info address so that it will never be used again.  That way it won't be connected to any other address in that wallet.

When I send the BTC from that 1-time address to my main wallet, couldn't it be linked to other addresses in the same wallet?  For example if there were a tiny amount of BTC on some of the other addresses in the wallet that were combined with the BTC going out from the 1-time address?
techgeek
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April 07, 2015, 04:07:24 PM
 #16

I only use 2 forms of wallet, but thats just me.

I suggest just creating a new btc wallet address though, from those wallets and provide it to him?

1 web wallet - blockchain
1 desktop wallet - btcqt

Then use whatever I need to restore with uploading it on google drive for dat files. I still have the paranoid thinking if I did get a cold wallet, I would probably lose it which is why I havent have one.

Plus I dont have a enormous amount of bitcoin like 25 btc.

Amph
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April 07, 2015, 04:11:29 PM
 #17

3 wallet are good imho, generally speaking one is for your main desktop with low amount on it, and two for cold storage, because sometime they can be corrupted, if you remove too early your pendrive/other hw error/ecc... one never know

i like to have this setup myself
DannyHamilton
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April 07, 2015, 04:13:12 PM
 #18

I have 3 wallets:

- main wallet
- Blockchain web wallet
- Wallet32 mobile wallet

I keep my BTC in my main wallet, but when I want to spend some, I transfer that amount to the Blockchain wallet and then use SharedCoin to transfer it to my mobile wallet from where I spend it.  That way the people/businesses I spend money with don't know my total BTC balance.

Now I need to receive some BTC and I'd prefer not to share my total BTC balance with the sender.  Can I have him send the BTC to my existing Blockchain web wallet and then use SharedCoin to send it to my main wallet?  Or do I need to open a second Blockchain web wallet that has never received BTC from my main wallet?

You can generate a new address in your existing blockchain wallet.  Then give that address to the sender.  Then once you receive the transaction, you can use SharedSend to send it to your "main wallet".  Once you've done that, you can "archive" the new blockchain.info address so that it will never be used again.  That way it won't be connected to any other address in that wallet.

When I send the BTC from that 1-time address to my main wallet, couldn't it be linked to other addresses in the same wallet?  For example if there were a tiny amount of BTC on some of the other addresses in the wallet that were combined with the BTC going out from the 1-time address?

So empty your blockchain.info wallet first (so that you don't have "a tiny amount of BTC on some of the other addresses"), or archive those addresses first, and then remove them from archive afterwards, or use the blockchain.info feature that allows you to choose which outputs you are spending.

cyclops
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April 07, 2015, 04:13:13 PM
 #19

3 wallet are good imho, generally speaking one is for your main desktop with low amount on it, and two for cold storage, because sometime they can be corrupted, if you remove too early your pendrive/other hw error/ecc... one never know

i like to have this setup myself

Paper wallets are better for cold Storage
randy8777
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April 07, 2015, 05:54:30 PM
 #20

i currently use blockchain wallet mostly for being able to have my coins with me everywhere. and bitcoin core wallet for storing coins offline. always good to spread your coins.
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