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Author Topic: Do you use multiple Bitcoin Wallets to store your Bitcoins?  (Read 10163 times)
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October 22, 2016, 10:57:47 PM
 #321

I have only blockchain wallet registered in. I read review 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.

Me too I have only my blockchain wallet because I had used before xapo and coinbase. But upon seeing there interface and the way you are going to log in I am taking a long wait and logging time for it that is why I already stopped using them. And for me block chain is the most user friendly bitcoin wallet of all time.



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October 24, 2016, 02:28:17 PM
 #322

Yes i use xapo, mycelium, coinbase, and blockchain. It is to prevent losing them all in an instant. If you have big amount of bitcoin it is preferred to do it because thieves will get attracted to your wallet if they saw you have big amount in your wallet.

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October 24, 2016, 05:04:41 PM
 #323

I use only Electrum to store my bitcoin. I dont care about the security at all since I send only small amount to it. Whenever I got lucky and had the big one(0.1BTC considered as the big one for me) I will convert it to my local currency. Thats the best and safest method for me to avoid something bad with my bitcoin!

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October 24, 2016, 05:24:36 PM
 #324

I have only trusted blockchain.info till now , have used xapo before but left it after seeing lots of issue people got after holding high amount of bitcoin regarding their KYC policy. But i know it is not safe to store all bitcoin in any wallet however i don't trade much bitcoin and for cold storage i am using paper wallets.

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October 24, 2016, 05:42:57 PM
 #325

I have only trusted blockchain.info till now , have used xapo before but left it after seeing lots of issue people got after holding high amount of bitcoin regarding their KYC policy. But i know it is not safe to store all bitcoin in any wallet however i don't trade much bitcoin and for cold storage i am using paper wallets.

I'm using blockchain.info and Xapo too, but never experienced any problems with Xapo as i use that for any small transactions like mobile recharges or any other small transactions, i actually dont have too much bitcoins so i dont really need a lot of wallets to split them in parts.
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October 24, 2016, 05:55:57 PM
 #326

A very simple rule you follow in Financial world needs to be followed here.

As you do not make all investment in one basket and diversify your portfolio same rule apply here as well so having multiple wallets.

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October 24, 2016, 05:56:32 PM
 #327

I use multiple wallets too. In pc multibithd, on mobile coinbase and xapo. I know that none of the wallets secure 100%. So i divide the risk with using multiple wallets.



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October 24, 2016, 07:01:53 PM
 #328

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

right now I only using blockchain, I like blockchain since it provide simple and easy feature, and I know it's exchange services so not really safe but till now it's not bad for me.

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October 27, 2016, 05:57:15 PM
 #329

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

right now I only using blockchain, I like blockchain since it provide simple and easy feature, and I know it's exchange services so not really safe but till now it's not bad for me.

The blockchain wallet is quite good so far. But it is still better to use your own wallet if you have good computer.

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October 27, 2016, 06:00:31 PM
 #330

I do. I prefer using more because it's safer. If you're targeted by a hacker and you're lucky enough to get just one of them hacked, you would lose less money. For example, if you got $100, you can spare it in 10 wallets of $10 each and you'd have $90 left then.
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October 28, 2016, 09:16:21 AM
 #331

I do. I prefer using more because it's safer. If you're targeted by a hacker and you're lucky enough to get just one of them hacked, you would lose less money. For example, if you got $100, you can spare it in 10 wallets of $10 each and you'd have $90 left then.
But the problem is what if the hacker has an access to your computer, then even if you have 100 bitcoin wallets, he would still be able to access all of them. You just gave him some more extra work but it didn't actually help you.

Another thing is that if you used the same password to these 10 bitcoin wallets, then finding the password of one of them will reveal all the 9 left. Having a different password for each of the 10 bitcoin wallets will be such a hassle. Imagine having to remember 10 combinations of alphanumeric keys, upper and lower case letters, and a symbol. You would most probably forget one or many of those 10.

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avikz
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October 28, 2016, 03:09:30 PM
 #332

Yes, I do and it is the wise thing to do. It is not suggested to hold all your bitcoin in a single wallet. You need to have a secret account which you will never disclose to any public forum.

Another account you can keep for trading earnings which will be linked with the trading account. You can have one more account to receive earnings from signature campaign. Once these account will have some good amount, then you can transfer it to your secret account to store it safely. Diversification is always good.

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MWesterweele
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October 28, 2016, 03:15:44 PM
 #333

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
Sometimes i keep my bitcoins from another accounts or from another bitcoin wallets just the reason of i don't want to be locked my bitcoin wallet because if they caught you sending your bitcoin into gambling website or receiving bitcoin gambling website our wallet will be locked.

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jukka
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October 28, 2016, 03:18:59 PM
 #334

i use one wallet with multiple addresses.
edbitko
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October 28, 2016, 03:24:59 PM
 #335

Yes i do use multiple bitcoin wallets
ImnotOctopus
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October 28, 2016, 03:27:48 PM
 #336

I use different wallet so if one got hacked, not all my bitcoin will be lost, like they say dont put your eggs in one basket.

Its for safety of my bitcoin too.
requester
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October 28, 2016, 04:46:09 PM
 #337

nope i use only one wallet to store my bitcoin because I have only few amount of bitcoin that if i store my bitcoin in 4 5 wallets then then each wallet will have pony 2 3 dollar. and i am not so rich that I could use multiple wallets to store huge amount of money.
ashiqdey
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October 28, 2016, 05:12:08 PM
 #338

I am still so poor that I can't afford to store my bitcoin in separate bitcoin because to switch from account to account of various wallets. I am happy and i feel secure with one wallet only that is of blockchain.
Shady
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October 28, 2016, 06:52:59 PM
 #339

I chose Xapo a few years ago and don't regret it because of the additional features released over time.

Once Bitcoin goes up a bit more and remains stable it'll lead me to getting a debit card so I can travel abroad without fear of conversion fees.

In all honesty there's a lot to learn when using many wallets that may take time, but for those afraid of managing it all then 1 good web wallet will outperform all expectations.

People fear that Xapo doesn't provide the keys to each coin, despite this they provide security + full ownership to make up for it.

Mark02
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October 28, 2016, 07:38:26 PM
 #340

I am still so poor that I can't afford to store my bitcoin in separate bitcoin because to switch from account to account of various wallets. I am happy and i feel secure with one wallet only that is of blockchain.

Same here Smiley I don't have that much bitcoin to store so I am only using one wallet and that is Coins.ph. Sadly, I have a limit on how much my transaction will cost since I cannot verify my Identity because I am still a minor and I don't have their required ID's for that. So, I am now earning and soon I will reach the quota for these wallet and I am planning to store the excess bitcoin in a separate wallet like Blockchain.io. I choose that because they are likely the same. In terms of security and other features Smiley
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