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Author Topic: Do you use multiple Bitcoin Wallets to store your Bitcoins?  (Read 10142 times)
Divinespark
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July 27, 2016, 08:31:51 AM

I use multiple paper wallets to store the bulk of my bitcoin holdings. The rest balance that I need for purchases and transactions I hold in my blockchain.info wallet.

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July 27, 2016, 08:53:53 AM

Holding multiple wallets for bitcoin storage is very important. Given the nature of transactions and security involved in the blockchain, it is important to have several wallets. This helps to cushion one against acts of hacking where bitcoins can be stolen. If you have bitcoins stored in different wallets, you can not lose all of them unlike if you have them in just one wallet.
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July 27, 2016, 09:42:13 AM

Holding multiple wallets for bitcoin storage is very important. Given the nature of transactions and security involved in the blockchain, it is important to have several wallets. This helps to cushion one against acts of hacking where bitcoins can be stolen. If you have bitcoins stored in different wallets, you can not lose all of them unlike if you have them in just one wallet.
You would still get hacked if your computer gets compromised.

Using several distributions of Bitcoin wallets can be useful if a zero-day exploit is found and it doesn't affect all the wallets. The most common issue is the RNG and it happened to Android wallets once. Yes, it affected nearly all of them. It isn't that possible for a wallet to get compromised without the computer having a malware since most are debugged and checked hundreds of times for exploits.














 

 

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Carlsen
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July 27, 2016, 09:44:46 AM

Of course I do that.
I have several wallets to store my coins.
A simple way of risk management.
That way not all is lost if one wallet gets compromised.

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July 27, 2016, 09:48:07 AM

yes i use multiple bitcoin wallet to store your bitcoin and i think one bitcoin wallet is too much risky , there is so many benefits to use multiple bitcoin wallet its too secure from robber because maximum people using multiple bitcoin wallet.

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TheGodFather
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July 27, 2016, 09:48:23 AM

Hey guys,

I was wondering if you keep all your bitcoins in one wallet, or do you use multiple providers/accounts?

I am currently using 3 different wallets, it kinda feels safer not to store everything in once place...

Thoughts?

MC  Smiley

That's good. But be sure to know these different wallets. Because if you forgot your own password. That will be a great mess. Multiple wallets is useful if you know how to handle it. And just to be secure, different accounts, different passwords. We all know that there are also hackers who can hack your own account so make sure to keep it, never share it, and always think twice on giving/logging in your own account to anyone.


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20kevin20
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July 27, 2016, 10:11:30 AM

Nah.. I prefer just one, but secure. I've been using Blockchain for years now, and never had problems with it. Just changing the password regularly and securing my account made it be as secure as I wanted it to be.

The only 'problem' I had was that I've used a script for PrimeDice which stole my winnings. But that has nothing to do with my wallet not being secure - it was just me being stupid.
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July 27, 2016, 11:00:27 AM

I like things simple, neat and efficient so I only have one wallet that I use. I do have Electrum installed on my PC but I only use it for transactions not permitted by Coinbase, like sending coins to LocalBitcoins. It's just a lot more convenient for me to have all of my coins in one place online. It means I can access them from any browser anywhere in the world  Smiley
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July 27, 2016, 11:00:58 AM

Hey guys,

I was wondering if you keep all your bitcoins in one wallet, or do you use multiple providers/accounts?

I am currently using 3 different wallets, it kinda feels safer not to store everything in once place...

Thoughts?

MC  Smiley
It is always a good idea to keep your coins in different wallet to prevent any loss in some untoward incidence.Keeping bitcoin offline is much better though than keeping them online

groll
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July 27, 2016, 12:22:53 PM

yes I use multiple bitcoin address to ensure the confidentiality of my transactions. I want my transaction awake.
and a wealth of information about me safe.

Having a more confidential transactions is one good reasons to have a multiple wallet.

Well last time I commented on this post I mentioned that it is for the reason of adding security to bitcoins against attackers.

At this point I would like to add that I use multiple wallets since other wallets are not accepting bitcoins coming from gambling.
Osarman
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July 27, 2016, 12:33:36 PM

i think multiple bitcoin wallet is better to store your bitcoin because many people scared from hacker if a person try to hack any account then you do not lost your all bitcoin.

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July 27, 2016, 12:33:57 PM

yes I use multiple bitcoin address to ensure the confidentiality of my transactions. I want my transaction awake.
and a wealth of information about me safe.

Having a more confidential transactions is one good reasons to have a multiple wallet.

Well last time I commented on this post I mentioned that it is for the reason of adding security to bitcoins against attackers.

At this point I would like to add that I use multiple wallets since other wallets are not accepting bitcoins coming from gambling.


having multiple bitcoin addresses is not the same as having multiple wallets. and "a more confidential transactions" or more anonymity can be reached with simply having one wallet and using each bitcoin address only once (as satoshi has suggested).
and the only security that can provide you is the anonymity so attackers can't come to your house and beat you to get your private keys Smiley

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July 27, 2016, 02:30:32 PM

i'm using multibit which allows you to have several wallets. its very easy to use and light weight. i have couple of wallets for different purposes.
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July 27, 2016, 02:58:19 PM

Yeah im using multiple wallet xapo and our local wallet coins.ph, its good to store your bitcoin in not just one place to make sure it wont be hack and to avoid risk. coins.ph wallet banned your acount if they found out you are receiving bitcoin in gambling site, so to be able to gamble i need my other wallet.

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July 27, 2016, 03:05:13 PM

yes I use multiple bitcoin address to ensure the confidentiality of my transactions. I want my transaction awake.
and a wealth of information about me safe.
i do that too, even though i have nothing to hide it is still better to just hold it in different wallets as it gives way more anonymity and i like it

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July 27, 2016, 03:50:23 PM

Yes I use multiple wallets and always prefer using multiple wallets just to be on a safer side, incase I lose funds on one, I still would have few on another and not lose all of it. Also, I always prefer offline desktop/mobile wallets instead of web wallets. I use electrum on my linux environment and Breadwallet on iOS and Mycelium on Android.


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July 27, 2016, 04:33:36 PM

people may be using different wallet. because they will need it. but in my case i am using only one and that is enough for me in the present time. if i feel the need of another wallet i will then think about it. but presently i am just using the single one and that is enough for me in present time.
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July 27, 2016, 04:37:49 PM

Yes, I currently use two wallet, the wallet and the wallet of blockchain of c-CEX. I use it for different purposes. I use c-CEX to collect bitcoin I get, while blockchain, I use it for storage BTC for business, even though it was troublesome, but I think I can manage my finances properly using multiple wallet

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July 27, 2016, 05:13:15 PM

For now i dont use any wallet now because i experience of delay or pending in web wallet which is coinbase thats why i transfer all my balance in electrum.. this is i think legit wallet ever..

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July 27, 2016, 05:22:36 PM

I have only blockchain wallet registered in. I read view of this wallet. People have said this to be well secured. They say we can have so many accounts linked to this particular wallet alone. They do not charge much for it. It says once an address is used for either transfer or withdrawals, a new address is generated for the same account so that we can have a track of how much we have saved. Good place to be part of. Thank you blockchain.
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