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Author Topic: Why do people use so many Bitcoin wallets?  (Read 51658 times)
Monnt
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February 13, 2016, 03:39:07 AM
 #301

Simply for convenience. I have a cold wallet, holding up all my savings in bitcoin, and a hot wallet, which has 0.5 BTC in it, which I use for digital goods and online spending on the go.
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February 13, 2016, 04:03:52 PM
 #302

Simply for convenience. I have a cold wallet, holding up all my savings in bitcoin, and a hot wallet, which has 0.5 BTC in it, which I use for digital goods and online spending on the go.
Other than convenience may be security is the biggest reason. Because all different wallets will not be unsecured at a same time. But I think having one wallet and securing it with strong password is better than multiple wallets.

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February 13, 2016, 04:05:54 PM
 #303

Simply for convenience. I have a cold wallet, holding up all my savings in bitcoin, and a hot wallet, which has 0.5 BTC in it, which I use for digital goods and online spending on the go.
Other than convenience may be security is the biggest reason. Because all different wallets will not be unsecured at a same time. But I think having one wallet and securing it with strong password is better than multiple wallets.


That's true, its better to have one wallet rather then having multiple wallets, as there are chances that you might forget the password of wallet,  and you loose all your saved bitcoins.

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February 13, 2016, 06:42:01 PM
 #304

You know how they say. Never keep all eggs in one basket Wink

1 BTC = 1 BTC
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February 13, 2016, 07:52:07 PM
 #305

Just wondering why people use so many Bitcoin wallets.

absolutely, just because of staying anonymous , they use many bitcoin wallet. therefore they cant be chased by legal forces..
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February 13, 2016, 08:54:54 PM
 #306

My use is:   a couple spending wallets, one on each box and on mobiles when necessary, another medium sized wallet for refreshing the spending wallets, kept in reasonable state of offline-ness. Cold storages I don't touch more than annually.
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February 13, 2016, 08:58:09 PM
 #307

I think people are afraid of scammers and they want to protect their bitcoins, so they are using multiple wallets, so even if one wallet is damaged or hacked the rest of bitcoins are safe in other wallets.

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February 13, 2016, 10:50:30 PM
 #308

Well, I think its totally dumb to use too many wallets.You can use one for your regular daily transactions and one for your savings maybe or your urgent deposits.But again ,your wallets like blockchain gives options to have a different address to receive bitcoins if you want so don't really need to change accounts or create a new wallet at all.
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February 13, 2016, 11:57:28 PM
 #309

It's simple, because it is for their own extra security and for trading and some other stuff. I myself use 5 accounts for storing my BTC and 2 other accounts for trading.
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February 14, 2016, 12:05:45 AM
 #310

Use of many bitcoin wallets is just to have the hardly earned bitcoins very secure. Use of many bitcoin wallets help place large volume of bitcoin saved by splitting into smaller units. So that if something goes wrong whole effort won't get into tragedy.

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February 14, 2016, 12:14:26 AM
 #311

It's simple, because it is for their own extra security and for trading and some other stuff. I myself use 5 accounts for storing my BTC and 2 other accounts for trading.
wallet offline or wallet online dude ?
it is important for the variation, I only had 2 online wallet, and other in desktop wallet


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February 14, 2016, 01:29:28 AM
 #312

I think people use multiple wallets only to diversify the risks, and it is a good move to make, even if one wallet is damaged or hacked by the scammers, the savings in other wallet would be intact, and you don't loose everything.
How if all wallet hacked ?? Its possible look now hacker its very good to hacked anything.
stupid people to make same addres to another wallet

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February 14, 2016, 01:30:44 AM
 #313

Mabye because people want more security and safety by having many wallets. For me i only have 2 wallets, 1 for receiving money and 1 wallet for gambling, so i seperate it.
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February 14, 2016, 01:34:31 AM
 #314

People use many different wallets and addresses for privacy, people don't want to get tagged to one address, it makes you less anonymous, every few months or so i change my main addresses (but I keep the private keys from the old ones so I can sign a message if the need arises).

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February 14, 2016, 03:21:12 AM
 #315

People use many different wallets and addresses for privacy, people don't want to get tagged to one address, it makes you less anonymous, every few months or so i change my main addresses (but I keep the private keys from the old ones so I can sign a message if the need arises).


yeah I agree with you friends .many people use different wallet and address for safety each other because when people use same wallet and address then will come problem maybe people stolen bitcoin from wallet each other .

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February 14, 2016, 03:57:06 AM
 #316

People use many different wallets and addresses for privacy, people don't want to get tagged to one address, it makes you less anonymous, every few months or so i change my main addresses (but I keep the private keys from the old ones so I can sign a message if the need arises).

yes sometimes with one address one's wallet will be easier to see their wealth. and it is a very great privacy.
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February 14, 2016, 03:57:38 AM
 #317

People use many different wallets and addresses for privacy, people don't want to get tagged to one address, it makes you less anonymous, every few months or so i change my main addresses (but I keep the private keys from the old ones so I can sign a message if the need arises).
I think not. If you never give your addresses to anyone with your true identity, you will remain anonymous, since no name address listed,
use a lot of wallets, I think not because anonymous
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February 14, 2016, 06:58:29 AM
 #318

People use many different wallets and addresses for privacy, people don't want to get tagged to one address, it makes you less anonymous, every few months or so i change my main addresses (but I keep the private keys from the old ones so I can sign a message if the need arises).
I think not. If you never give your addresses to anyone with your true identity, you will remain anonymous, since no name address listed,
use a lot of wallets, I think not because anonymous

there is always a first time you bought bitcoin with money and if you have provided any kind of information then, you have no anonymity because it can be connected to your bank and then to you.

but i agree that using multiple wallets is not for anonymity, he might mean using different addresses, not wallets. using different wallets is more because of different features that different wallets offer

Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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February 14, 2016, 07:05:32 AM
 #319

I think we already covered this question. It is for the anonymity.
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February 14, 2016, 11:40:24 AM
 #320

Well, Hot Wallet, Cold Wallet and Mobile wallet.
Since i cant use 1 Wallet for these 3 kinds of storages.. i have to go with 3 wallets.

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