Why do people use so many Bitcoin wallets?

[subhiii]

I only learned about the advantages of using multiple wallets a couple of weeks ago. I learned that I have to have separate wallets for sending, receiving, and bills payments. That way, I could lessen the risk of theft and I could put my BTC in several wallets to spread out my eggs in several baskets, so to speak.

[error08]

I only learned about the advantages of using multiple wallets a couple of weeks ago. I learned that I have to have separate wallets for sending, receiving, and bills payments. That way, I could lessen the risk of theft and I could put my BTC in several wallets to spread out my eggs in several baskets, so to speak.

Yeah, people use so many wallet due to the safety of our bitcoin.
My friend ever told me about his lost of bitcoin in  one wallet because get hacked and advice for me to use multiple wallet and second verification to be more safety,
Anonymous transaction of bitcoin has been an advantage but also disadvantage to track down the thief in bitcoin world.
Moreover, in every country have different laws about cybercrimes, we don't know where or how to report the crime  

[lionheart78]

Just wondering why people use so many Bitcoin wallets.

Never put all eggs in one backet.That`s why.

I still afraid that the online wallets i use might be hacked or run away with my bitcoins.

Yes, that is one of the reason. Another reason is, may bitcoin users are trading in different exchanges.  So it is obvious that they will be using multiple online wallets.  Others use the offline wallet for security, and dividing their bitcoin holdings in different light wallets like electrum and multibits.  Some software is not compatible with other devices so they need to download the needed application for it too.

[Superbitzz]

I only learned about the advantages of using multiple wallets a couple of weeks ago. I learned that I have to have separate wallets for sending, receiving, and bills payments. That way, I could lessen the risk of theft and I could put my BTC in several wallets to spread out my eggs in several baskets, so to speak.

yes that is a fact and most of the people are using different wallets for security bases and people have good amount of money so they do not like to take risk and therefore they put their bitcoin in different wallet so that their whole assets should not be hacked in one time.

[BeGoods]

i think that people do not want to save all bitcoin in one wallet because there is hacking problem so people keep their bitcoin in many wallet and i think it is safest way to keep your bitcoin in many wallet .

I think it's useless if you use a lot of wallet but you use the same password for all of your wallet let alone you also use the same email,
of course security was not gonna get, so make sure you use the email and password that is different for every wallet, for more security high

[TTMNewsK]

Most of the people are using a multiple account for their  own 'SECURITY’.
We must have a plenty numbers of wallet where we can keep our money in a safety mode. Less worry. Hackers wouldn't traced the address so easily if we are using many different address and we don't stick to only one.
For instance, if our account is being hacked by someone then we won't gonna lose all of our money.

[Viyamore]

i think that people do not want to save all bitcoin in one wallet because there is hacking problem so people keep their bitcoin in many wallet and i think it is safest way to keep your bitcoin in many wallet .

I think it's useless if you use a lot of wallet but you use the same password for all of your wallet let alone you also use the same email,
of course security was not gonna get, so make sure you use the email and password that is different for every wallet, for more security high

That was the Do's their about creating wallets or even registrating a new account on a site make sure your password are different then if you are afraid to forget your password make sure have a copy on it on both computer and secret notebook (i do this) this will help you a lot .also use 2fa authenticator for a higher security.
Don'ts
Don't use same password or email

[CrimBit]

Most of the people are using a multiple account for their  own 'SECURITY’.
We must have a plenty numbers of wallet where we can keep our money in a safety mode. Less worry. Hackers wouldn't traced the address so easily if we are using many different address and we don't stick to only one.
For instance, if our account is being hacked by someone then we won't gonna lose all of our money.

i agree with your statement. in the starting last year (2015) my bitcoin get hacked i lost arround 3.5btc. and that's in 2wallet but using 1 yahoo mai.
now im useing mobile wallet like mycellium, jaxx where no need email to register. and im use paper wallet too. for secure saving.

[shinratensei_]

Most of the people are using a multiple account for their  own 'SECURITY’.
We must have a plenty numbers of wallet where we can keep our money in a safety mode. Less worry. Hackers wouldn't traced the address so easily if we are using many different address and we don't stick to only one.
For instance, if our account is being hacked by someone then we won't gonna lose all of our money.

i agree with your statement. in the starting last year (2015) my bitcoin get hacked i lost arround 3.5btc. and that's in 2wallet but using 1 yahoo mai.
now im useing mobile wallet like mycellium, jaxx where no need email to register. and im use paper wallet too. for secure saving.

What your predict about the method are used by the hacker for stole your money? seems like using email for a wallet is too risky according from your experience and 3.5 is a much amount.

[dunfida]

Most of the people are using a multiple account for their  own 'SECURITY’.
We must have a plenty numbers of wallet where we can keep our money in a safety mode. Less worry. Hackers wouldn't traced the address so easily if we are using many different address and we don't stick to only one.
For instance, if our account is being hacked by someone then we won't gonna lose all of our money.

In this  case, having  multiple wallets would  do if you posses large amounts of bitcoins  but still useless if  you store it on  web wallets  its better to store on pc or hardware wallets . some people do have  multiple wallets depending on their  transactions  and interest.

[SANALIU]

iam use many bitcoin wallet
and much addres , iam saving and secure my balance bitcoin
because is only one wallet only one addres is attack hack, is all balance bitcoin gone

[iv4n]

That is a process of learning, it was like that with me and many others. I discovered that with talking with friends and my own experience, I started with  faucets and some little amounts and xapo was good enough for my needs. That was first wallet for me, and there I learned how to send and receive transactions. After many hours of learning, gambling, trading, and finally making more money I found other wallets, better ones and with better security. I still use xapo for many things, like first time registering somewhere, and giving address to some not safe service.

[Patatas]

That is a process of learning, it was like that with me and many others. I discovered that with talking with friends and my own experience, I started with  faucets and some little amounts and xapo was good enough for my needs.

The process of learning was 2 years back mate.If you google now a tutorial for bitcoin starters I'm sure they'd mention what wallets to use for what purpose.You were still stuck on the same wallet anyway,did you understand the title of the thread?

That was first wallet for me, and there I learned how to send and receive transactions. After many hours of learning, gambling, trading, and finally making more money I found other wallets, better ones and with better security.

Like ? I started with owning 3 wallets after doing my research about bitcoins.Desktop wallet for cold storage,a web wallet for daily transactions and a dedicated wallet for gambling.Not very hard to learn that as a newbie.I was remotely concerned about the security as dividing my funds was the priority!

I still use xapo for many things, like first time registering somewhere, and giving address to some not safe service.

How are you answering or constructively responding to the thread the perks or disadvantages of using multiple wallets ? All I see is Xapo....

[South Park]

First thing is the ease of access that you can access through phone and your pc as well. But some of us have more than 2 wallets which are definitely used to minimize the risk of losing all the BTC when one of your wallet is compromised.

yeah plausible reason they do this is to minimize the risk of losing bitcoin for hackers. I do not find any reason other than that. would be more secure if you use authentication for all the purses you got. I only have 2 wallets, because I sometimes confused when having lots wallet

But if your concern are hackers then having many wallets don’t offer much protection if all of them are on the same device, it will probably better to have the wallets in different devices and if possible on more secure OS like Linux.

I think its not more secured to use linux since linux is more manual programing command..
For hackers everything is possible but about the security of our device we can protect our devices from any viruses thats why we have anti virus here..

All the versions of windows are full of backdoors and errors everywhere, and when you take into account that many computers are running pirated versions of windows, this is a no brainer; if you are going to have a desktop wallet then your OS of choice must be Linux.

[madwica]

I am using more bitcoin wallet to minimize the risk of my investment then i have bitcoin wallet that all my earnings came from different method in bitcoin are deposited then i have bitcoin wallet which is local bitcoin wallet i do all my transaction spending.

[dhimasnk]

why do people using many bitcoin wallet? people using bitcoin wallet because they want more security, so they use bitcoin wallet more than one. that's the reason I think of the questions in this thread

[Liang_Kubur]

I think companies like coinbase, XAPO, BIT-X or others use a different wallet for every deposit so no one can track the amount of a customers deposits.  It's not all being put in the same wallet for deposit.

[bamboylee]

Just wondering why people use so many Bitcoin wallets.

its all about keeping the anonymity in bitcoin,if people use the same wallet with the same address over and over then someone that knows their address can see every transaction they do. its just not safe enough

the anonymity does not concern the wallet, it only concern addresses (at least that is what I understand about it). If you use the same address over and over, there is a chance that you can be traced. The only effect having multiple wallet is that you can divide your bitcoins into different wallets so if one is hacked, not all bitcoins are lost.

[lanslans]

for many activity like spamming or another illegal activity. i feel 1 wallet is enough for us if only used for receiving payment from job like signature campaign or else. you can avoid the misuse of the account from hacker

[kidoseagle0312]

Just wondering why people use so many Bitcoin wallets.

Maybe because they want to scattered their  bitcoin in different bitcoin wallets. Just like in bank we deposit or save money in different branch of bank. Only the difference is were the one who keep our own money/bitcoin not anybody else, we are the one who securing it, meaning in  return if ever there's happen not good to our bitcoin/money there's nothing to be blame but only ourselves.