Why do people use so many Bitcoin wallets?

[Medow]

The most probable reason that comes to my mind is :For accepting payments from various people.
I mean suppose you are a exchanger then its easy to trace if different address each time.

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[fireball4]

Possibly because people use wallets because we prefer our bitcoins to be safe therefore using offline ones like armory and such...and there is a need for speed and fast transactions sometimes therefore using other wallets like blockchain/electrum and such.

well yeah i really like to use a lot of bitcoin wallets in my opinion because it allows us to keep bitcoins safe

[BitMaxz]

Possibly because people use wallets because we prefer our bitcoins to be safe therefore using offline ones like armory and such...and there is a need for speed and fast transactions sometimes therefore using other wallets like blockchain/electrum and such.

well yeah i really like to use a lot of bitcoin wallets in my opinion because it allows us to keep bitcoins safe

Not only for bitcoin safe they are using many wallets to secured their original wallet which is main wallet where you can see all of your savings..
They are using many wallets to use for easy transaction and fast secured. they can also use bitcoin mixer but they have their own way to secured their funds.

[morantis]

Business corners you into having more wallets than you need.  New coins end up on only one or two exchanges and that means having a freaking wallet there.  The TX fees for moving funds in and out of those solitary exchanges is not worth it, so, for the most part I have a little bit on one exchange, a little bit on another.  I finally got the last of the funds off of Cryptopia without losing cash along the way.  Besides the forced wallets, I have one online, so that I can use funds from anywhere.  Then the two on the PC, one hot and one still pretty hot, lol.  

[jerowacik]

The most probable reason that comes to my mind is :For accepting payments from various people.
I mean suppose you are a exchanger then its easy to trace if different address each time.

so true . we need to maintain the privacy of all transactions that we have. some people say that privacy is the most important reason in choosing a bitcoin wallet.

[posternat]

Possibly because people use wallets because we prefer our bitcoins to be safe therefore using offline ones like armory and such...and there is a need for speed and fast transactions sometimes therefore using other wallets like blockchain/electrum and such.

As far as I see it, you need a minimum of two wallets. Those can be online and software or just two software wallets. Some people and some business models call them cold and hot, which is fine.

[yolanda222]

Why do people use so many Bitcoin wallets?possible to take giveaway,usually many people use more than one bitcoin address it to take giveaway
but it does not much like it,but I use more than one address only to send send only,because I save my bitcoin in blockchain to Coinbase and others
but using 1 bitcoin address it better

[bitlancr]

Using many wallets is a security thing.
You want to be less traceable and reduce the risk of losing your money if one wallet gets hacked.
That can be achieved if you use more wallets. Of course it gets more complicated as well because you have to manage more wallets.

Yes this one is a very good reason but ofcourse there are multiple reasons. Having more than one wallet is also a good way to manage money you can give the wallets names like savings, bills etc and put in the amount that you need in there and like this it's easier to see all your money and where it's going to.

[Betwrong]

Some people want to ensure their security due to the fact a lot of bitcoin wallets get hacked these days.
If you use bitcoin online wallet its better to spread your bitcoins.

There are two sides in this approach: on one hand if you have a single wallet where most of your coins or even all your coins are kept and this wallet is hacked you'll lose all your coins at once; on the other hand spreading your coins among several wallets you are increasing the chance one of those walletts being hacked. Personally I don't know which way is better than the other.

[Mastsetad]

Why do people use so many Bitcoin wallets?possible to take giveaway,usually many people use more than one bitcoin address it to take giveaway
but it does not much like it,but I use more than one address only to send send only,because I save my bitcoin in blockchain to Coinbase and others
but using 1 bitcoin address it better

People use more than one wallets because of security, it is not like that bitcoin wallets are not secure but sometimes things happen like a wallet gets hacked or maybe the websites gets an attack so in that case you might lose all your coins but if you keep them in seperate wallets you wont lose them all at once even if something happens.

[TastyChillySauce00]

Why do people use so many Bitcoin wallets?possible to take giveaway,usually many people use more than one bitcoin address it to take giveaway
but it does not much like it,but I use more than one address only to send send only,because I save my bitcoin in blockchain to Coinbase and others
but using 1 bitcoin address it better

if you're talking about giveaway here,the address is just for sending the prize while actually if you're having many wallet but still using one account it mean you will only get one giveaway,so having many wallet have nothing to do with the giveaway thing

[ronaldo40]

Why do people use so many Bitcoin wallets?possible to take giveaway,usually many people use more than one bitcoin address it to take giveaway
but it does not much like it,but I use more than one address only to send send only,because I save my bitcoin in blockchain to Coinbase and others
but using 1 bitcoin address it better

if you're talking about giveaway here,the address is just for sending the prize while actually if you're having many wallet but still using one account it mean you will only get one giveaway,so having many wallet have nothing to do with the giveaway thing

yes i think if for the giveaway you do not must have a lot of wallets. one wallet could make a lot of addresses.
but for me to use many wallets, to avoid from hackers and also avoid interference from other wallets. when I was in desperate need.

[dharkmadder]

I think the difference is the number of advantages each wallet offer for the individual, For example if you want something fast and easy to use you can use something simple like Electrum and when you want to use something well-secured you can use Armory or Core.

[andyste]

much people use many bitcoin wallet because in savety and secure
is only one use wallet , if wallet maintanance trouble and another problem
this can't use bitcoin do nothing trading and transaction

[virasog]

I think the difference is the number of advantages each wallet offer for the individual, For example if you want something fast and easy to use you can use something simple like Electrum and when you want to use something well-secured you can use Armory or Core.

The idea is that one is very active and the other is more long term. Bitcoin itself does not stake, there are sites that seem to pay a version of interest, but I would rather not deal with the rules and regs of minimum in and out for those sites and there is always a trust factor.

[avikz]

It's always a good thing to diversify and that is the reason, why people are using more than one bitcoin wallet. If you have a small amount in bitcoin, then using more than one account does not make sense. But if you are holding a good amount of money, then it is recommended to use more than one account.

If one wallet service provider goes down by any chance, at least some of your holdings will still be secure and you don't have to worry much about loosing all your money.

[bitcointank]

Why do people use so many Bitcoin wallets?possible to take giveaway,usually many people use more than one bitcoin address it to take giveaway
but it does not much like it,but I use more than one address only to send send only,because I save my bitcoin in blockchain to Coinbase and others
but using 1 bitcoin address it better

if you're talking about giveaway here,the address is just for sending the prize while actually if you're having many wallet but still using one account it mean you will only get one giveaway,so having many wallet have nothing to do with the giveaway thing

yes i think if for the giveaway you do not must have a lot of wallets. one wallet could make a lot of addresses.
but for me to use many wallets, to avoid from hackers and also avoid interference from other wallets. when I was in desperate need.

Right, for giveaway, one wallet is enough for tiny money, like 0.5 mbtc giveaway. Who use many wallets are mainly to avoid hackers, or physical hazards.

[pinkpanther03]

Just wondering why people use so many Bitcoin wallets.

Some of the member here they used multiple wallet maybe because they want to put their coins safely than to any other place. Even me I also used multiple bitcoin wallet to secure it wisely. And I think its the right decision for me at all.

[BrewMaster]

Just wondering why people use so many Bitcoin wallets.

Some of the member here they used multiple wallet maybe because they want to put their coins safely than to any other place. Even me I also used multiple bitcoin wallet to secure it wisely. And I think its the right decision for me at all.

but i don't think using multiple wallets is going to bring any more safety than using just one cold storage wallet can bring to you!

i have made myself a good cold storage and i am keeping it safe and i think that is more than enough

[kidoseagle0312]

Just wondering why people use so many Bitcoin wallets.

Actually, I don't have any idea why they used multiple bitcoin wallets, because for me I only use one bitcoin wallet. Maybe later I'm gonna try to do it also. And as far as I can see they do it because they want to put it safely where they are confident that no one can take the coin from them.