Why do people use so many Bitcoin wallets?

[AlexBits]

Thats because many people don't want to lose their coins so they store them in many wallets.
Such as you have many bank accounts because you don't trust to have everything on just one bank.

[Supercrypt]

Thats because many people don't want to lose their coins so they store them in many wallets.
Such as you have many bank accounts because you don't trust to have everything on just one bank.

That's right. We don't want to store all our bitcoins in just one single wallet because if we lose that one single wallet, we lose everything. As for me, I use multiple wallets for 2 different reasons. One type of wallet (cold storage) for holding on to bitcoins and another (hot storage) for regular transactions.

[Ryananda]

Thats because many people don't want to lose their coins so they store them in many wallets.
Such as you have many bank accounts because you don't trust to have everything on just one bank.

That's right. We don't want to store all our bitcoins in just one single wallet because if we lose that one single wallet, we lose everything. As for me, I use multiple wallets for 2 different reasons. One type of wallet (cold storage) for holding on to bitcoins and another (hot storage) for regular transactions.

Yes true maybe it is a little complicated but it is useful for security bitcoin on our wallets. It was a great way. We should be careful because if we lose our bitcoin wallet will also lose all bitcoin we got and it will make useless.

[btcjoin14]

I often use several different wallet addresses so that nobody can trace where exactly the btc came from since of multiple addresses.

[GreenBits]

Using multiple wallets is good security practice, but at the very least, part of the coolness of the protocol is the ease of whipping up a new address . Like opening up a bank account, without giving them your life details and blood type. Certain wallets have features that make them more useful for certain tasks (I use mobile wallets for my Sig earnings, for example, because I buy silly stuff/food/speculate  with the funds , and they move around a lot)

[boyptc]

Using multiple wallets is good security practice, but at the very least, part of the coolness of the protocol is the ease of whipping up a new address . Like opening up a bank account, without giving them your life details and blood type. Certain wallets have features that make them more useful for certain tasks (I use mobile wallets for my Sig earnings, for example, because I buy silly stuff/food/speculate  with the funds , and they move around a lot)

I agree with you using multiple address is good if you want to be more secured on the transactions that you are doing.
You must just set per wallets on what transaction of it you are going to use.

[CrimBit]

Using multiple wallets is good security practice, but at the very least, part of the coolness of the protocol is the ease of whipping up a new address . Like opening up a bank account, without giving them your life details and blood type. Certain wallets have features that make them more useful for certain tasks (I use mobile wallets for my Sig earnings, for example, because I buy silly stuff/food/speculate  with the funds , and they move around a lot)

security is the basic reason for each people use more bitcoin wallet. im use some wallet, xapo, coinbase, old blockchain, new beta blockchain, mycellium, electrum and of course paperwallet

[target]

its easy to get a new wallet anyway. a simple sign up to an exchange site gives a lot of wallets.
I myself have almost 5 wallets not to count the hard drive wallet, these are from blockhchain, yobit, coinbase, poloniex and from a mixer. i don't use all of them though except yobit and blockchain wallet.

[Cryddit]

For me it's about privacy.

If you don't want your clients to know you're a member of the Power Exchange (infamous sex/kink club), you make payments to the Power Exchange from a different wallet than the wallet where your clients send your pay.  If you are getting a surprise gift for your wife, it won't be much of a surprise if the payment comes out of the same wallet she uses.

The issue is that a given wallet will spend *ANY* txOut that's in it when you're making a new spend, and those txOuts make it possible for anyone looking at the block chain to know that all those spent txOuts (as well as the new transaction) were all made in transactions by the same person.   So somebody can look at the block chain and track it back;  

"A car payment was made on the defendant's car in October of that year, using among other things a TxOut that someone got as change from a Starbucks in downtown Kansas City on January 12, your honor.  So we can prove that the defendant was in Kansas City at the time - and incidentally also bought a dirty magazine, some hand lotion, and tissue paper an hour later at a convenience store in Lee's summit Missouri - which places them on the road in question during that timeframe.  And after that...  "  

Dude, seriously.  It's all in the block chain.  They may not know who you are until you make a linking transaction (like buying a computer which has a unique NIC and CPUID, or a stereo with a serial number, or the only pair of alpaca socks that was sold by that vendor on that date .....) but one single identity linking transaction and they can walk back just about everything you've ever done from that wallet.

[RhodaGila]

its easy to get a new wallet anyway. a simple sign up to an exchange site gives a lot of wallets.
I myself have almost 5 wallets not to count the hard drive wallet, these are from blockhchain, yobit, coinbase, poloniex and from a mixer. i don't use all of them though except yobit and blockchain wallet.

Yeah, be careful using online wallet as your main wallet storage , unless you have never experienced a loss of bitcoin is stored in an online wallet. Use online wallet (hot storage) and offline wallet (cold storage) to stay safe, minimize risk of loss. Many offline wallet (cold storage) are very easy to use.

[bitdumper]

They use so many wallets because there are so many wallets. Variety is everywhere. None of the wallet is perfect and every people have diffrent demand, they choose what suits them most.

[Ryananda]

They use so many wallets because there are so many wallets. Variety is everywhere. None of the wallet is perfect and every people have diffrent demand, they choose what suits them most.

Many people have multiple addresses for each address wallet wallet uses for each are different.
So it needs some wallet to store addresses of each transaction.

[Airpayfull]

People use many wallets to be on the save side in case wallet gets hacked

[exadex.org]

I have three wallets. One for very small transactions (faucets etc.), on this one the fees are pretty high, one for normal transactions and the last one is my safe.

[mindrust]

Risk management.

They don't want to put all the eggs into the same basket. If one wallet gets hacked down, deleted, pass forgotten; you move on with what you have left.

Sometimes though, Exchange hackers do this. They get themselves hundreds of wallets and they divide their hacked coins into those wallets in order to make investigators' jobs harder.

[DimensionZ]

I think having a lot of different Bitcoin wallets is good for the popularity of Bitcoin because this promotes competition between the companies specializing in providing Bitcoin services and this basically inspires technical progress. Also a heads up from me about online wallets - be careful with storing a lot of coins on wallets at Bitcoin exchanges as these tend to have security issues and get compromised easily so instead use dedicated online wallets if you need one. Storing your coins locally off-line is always the best option though.

[dhimasnk]

maybe they think, if menggunakam many of their wallet will feel safer

[electronicash]

I think having a lot of different Bitcoin wallets is good for the popularity of Bitcoin because this promotes competition between the companies specializing in providing Bitcoin services and this basically inspires technical progress. Also a heads up from me about online wallets - be careful with storing a lot of coins on wallets at Bitcoin exchanges as these tend to have security issues and get compromised easily so instead use dedicated online wallets if you need one. Storing your coins locally off-line is always the best option though.

Still can't add to popularity of Bitcoin.
people will have lots of btc addresses  due to the fact that  registering to a network, or even jsut an exchange site will generate a bitcoin address for a user. thus we having a lot of btc addresses.

[Labumi]

I have three wallets. One for very small transactions (faucets etc.), on this one the fees are pretty high, one for normal transactions and the last one is my safe.

How is good enough and this is one way to avoid losing all funds Bitcoin due to Hacking. I will try your way because I don't want to experience things outside of my desire (hacking).

[wintermeasures]

Just wondering why people use so many Bitcoin wallets.

Personally I have only two wallet to use it for daily transaction, wallet from blockchains and wallet on pc. I guess why people use a lot of wallet is to firstly, they want to avoid losing huge funds because if you only have one wallet will lose all of your funds, such as thefts by hackers maybe. And Second people make a lot wallets to cheat on the faucet site hehe. Thats all.
thank you, just my opinion