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Author Topic: Is it possible for a single person to hold multiple Bitcoin wallets?  (Read 2951 times)
sarcazzo (OP)
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July 13, 2015, 02:28:03 PM
 #1

Sorry for the very noob question, but I googled for it without finding a proper answer.

What I mean is not moving your wallet from a provider to another, but having multiple different wallets containing different amounts of bitcoins.
Next BillGates
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July 13, 2015, 02:29:22 PM
 #2

Sorry for the very noob question, but I googled for it without finding a proper answer.

What I mean is not moving your wallet from a provider to another, but having multiple different wallets containing different amounts of bitcoins.
There's no restriction to use how many wallets you're using or you want.

AmDD
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July 13, 2015, 02:29:32 PM
 #3

Yes, just like you can have multiple bank accounts you can also have multiple bitcoin wallets.

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OmegaStarScream
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July 13, 2015, 02:30:36 PM
 #4

Sorry for the very noob question, but I googled for it without finding a proper answer.

What I mean is not moving your wallet from a provider to another, but having multiple different wallets containing different amounts of bitcoins.

Well you could use different client , Bitcoin Core , Electrum , Multibit HD etc .
But I don't see why while you can use Multiple adress , I mean this why adresses exists . Even if you see "1 BTC" on your wallet and it's received on two multiple adresses , the blockchain will show the adresses balance and not the wallet ,so you are safe and annonymus .

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Crpytology
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July 13, 2015, 02:44:08 PM
 #5

Yes, like other people above me have stated, you can definitely have more than one wallet. I usually have a "hot" wallet where I keep a small portion of my bitcoins for transactions, and a "cold" wallet where I keep a large portion of my bitcoins for safe-keeping. Just like a checkings and savings account.
ahmedjamal1998
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July 13, 2015, 02:48:14 PM
 #6

Yes ofcourse you can create as much as possible.
There isn't any restrictions regards the numbers of wallets you own.

Good Luck  Wink
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July 13, 2015, 02:51:56 PM
 #7

I like to keep three types. Cold wallets for long term storage offline. This is where larger amounts are kept. A spending wallet on a secure computer. This is where I keep amounts in the hundreds for larger purchases. I keep it synced to the network. Then I also keep about $100USD on my smartphone for most purchases. This is less secure, but very convenient, and IMO, worth the risk.  

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sarcazzo (OP)
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July 13, 2015, 02:53:19 PM
 #8

Thanks for the quick answers guys, much appreciated Smiley
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July 13, 2015, 02:57:07 PM
 #9

Not only is it possible, but it is also recommended.  An offline, or cold-storage wallet, is a great place to keep the larger quantities of coin.  A connected wallet (like Bitcoin Core or MultiBit HD) running on your computer that's online can be used to make purchases, pay bills, whatever.  Finally, a mobile or online wallet for everyday spending when you're out and about.  The amount of coin you keep in each decreases as you go: cold storage has the highest (least risk), mobile has the least (most risk).

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July 13, 2015, 02:57:27 PM
 #10

it's advisable to have more than one, in the case one of them will be corrupted or something(happened to me more than one time), now i' have 2-3 wallet just in case

2 for cold storage and one that is used as a main
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July 13, 2015, 03:53:38 PM
 #11

it's advisable to have more than one, in the case one of them will be corrupted or something(happened to me more than one time), now i' have 2-3 wallet just in case

2 for cold storage and one that is used as a main
Isn't that more about having backups? If you had backups on the addresses, you wouldn't have lost anything.

I would certainly recommend having a few addresses as you can easily determine the purpose of the transaction. When all the payments are concentrated in one address, it is hard to tell the purpose for them to send it. I personally use only 1 address as I take preventive measures to secure my computer. I would consider having additional addresses to serve as a cold storage if my fortune increases. If you use each address only once, it may help to protect against potential weak RNGs when creating transaction. It also help with anonymity.

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Amph
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July 13, 2015, 04:10:22 PM
 #12

it's advisable to have more than one, in the case one of them will be corrupted or something(happened to me more than one time), now i' have 2-3 wallet just in case

2 for cold storage and one that is used as a main
Isn't that more about having backups? If you had backups on the addresses, you wouldn't have lost anything.

I would certainly recommend having a few addresses as you can easily determine the purpose of the transaction. When all the payments are concentrated in one address, it is hard to tell the purpose for them to send it. I personally use only 1 address as I take preventive measures to secure my computer. I would consider having additional addresses to serve as a cold storage if my fortune increases. If you use each address only once, it may help to protect against potential weak RNGs when creating transaction. It also help with anonymity.

address share the same amount, and they are in the same wallet, if that wallet will be corrupted you will lose everything, with multiple wallet.dat(i mean the file not the client) you can avoid this
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July 13, 2015, 05:40:19 PM
 #13

Yes but you would be spreading the same amount of coins between many different wallets so what's the point?

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July 13, 2015, 06:54:44 PM
 #14

Yes but you would be spreading the same amount of coins between many different wallets so what's the point?

i said it above, to avoid that one of your wallet will get corrupted and you will lose everything, with multiple wallet you will lose only a tiny portion of your total balance

i thought it was a pretty simple concept to understand...
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July 13, 2015, 08:45:57 PM
 #15

it's advisable to have more than one, in the case one of them will be corrupted or something(happened to me more than one time), now i' have 2-3 wallet just in case

2 for cold storage and one that is used as a main

I wish everyone did this.   You honestly do need 2 wallets.  And it takes at least one hot, and one cold wallet.

The hot wallet is easy to access and spend for what ever you want.  Could be online, on a computer with internet, etc.   But you do not hold a ton of BTC in it.

Other is cold wallet.  This one can be many things but a good old paper wallet is hard to beat.   You keep it offline and in safe places.  You put majority in cold wallets as they should not be able to be hacked.

And no matter what kind of wallet keep multiple backups and keep safe backups.
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July 13, 2015, 09:21:52 PM
 #16

Was the original suggestion to use a new receiving/sending address every time you make a transaction with Bitcoin?   Does anyone do that currently? 
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July 13, 2015, 09:35:21 PM
 #17

Was the original suggestion to use a new receiving/sending address every time you make a transaction with Bitcoin?   Does anyone do that currently? 

I know some that do.  All depends on the person.   

The people that tend to use different ones each transaction tend to be the ones worried about their identity, wanting to be anonymous. It's not a bad thing to do at all, just a lot don't.

Biggest thing is the having cold and hot wallets and keeping majority in cold wallet.
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July 13, 2015, 10:45:17 PM
 #18

You can have as many wallets as you need and yes you can transfer your bitcoins from one waller to another and yes you can transfer your bitcoins without any problem if your 1st wallet is from different wallet provider then 2nd This is why i love bitcoins no bullshit no investigations and crap

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July 14, 2015, 12:10:58 AM
 #19

As far as i am on the forum, i see many people saying yes, so i am collecting money to buy a hero account, but seeems too far for me now.
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July 14, 2015, 12:30:03 AM
 #20

Quote
Is it possible for a single person to hold multiple Bitcoin wallets?

Yeah , you can have as many wallets as you want.
The main reason behind having multiple wallet is that you can be much anonymous with that.
Moreover these days , i think all company provides multi-signature wallet which can help you to use the same wallet with different address.


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