Why do people create more than one BTC wallet ?

[Tej7701]

Why do people create more than one BTC wallet ? What are the benefits of it ?

[BTCLovingDude]

there is no "account in BTC". if by any chance you mean multiple bitcoin addresses then it is because a bitcoin address is not like your bank account to be reused. you need to generate a new address for each transaction.
read more about it here: https://en.bitcoin.it/wiki/Address_reuse

unless by account you mean accounts on services such as coinbase which offer wallets then i don't know why or if they do that!

[sumit513]

Multiple btc wallets you mean? I think for safety reasons.

[Heyyyrenz]

What do you mean create more then one account in BTC? Wallet account? If you're asking why they create more than one wallet in BTC i think they do it for security purposes they didn't save all their BTC's in one place i think so that if the wallet get hacked or the wallet encounter a problem they have a backup wallet where some of their profits or bitcoins were stored. I also read a blogspot they said that you really need to make more than wallet for security purpose. But i think some of the businessmen create more than 1 BTC wallet to hide their money (i'm not sure in that i just read it somewhere in the forum) that they convert their money to bitcoins and create more than 1 account of wallet to hide their money

[agustina2]

Why do people create more than one BTC wallet ? What are the benefits of it ?

If you are pointing about creating more than bitcoin wallet, maybe there are features on other wallet that is present on other wallet especially web wallets. Since buying and selling bitcoin is less hassle way if exchanges will be used, people are choosing exchanges that is fit to them. Also creating other bitcoin wallet is a good way of not storing all bitcoin on one place.

If you are pointing about addresses, well most of the bitcoin users needs privacy that's why they are using multiple addresses in different transactions.

If you are pointing about bitcointalk forum account, obviously for a purpose of signature and bounty spamming.

[SimmonenY]

You shouldn't put all eggs in one basket, people diversify to protect their assets.

[abel1337]

We have different reasons why do we create more than one bitcoin wallet and my reasons are , I need to be more secured. One wallet for a large amount of bitcoin is not good. Because hackers will target your bitcoin wallet , They will focus hacking your bitcoin wallet if they know that they will gain a large amount of bitcoin in your wallet, Thats why it is good splitting your bitcoins into different wallets.

[bamboylee]

My wallets have their own uses. I have wallet in an exchange where I convert my bitcoin to fiat. An online wallet that I use for online purposes and to receive wages from signature campaign. And a secure desktop wallet where I store most of my bitcoin for long time holding. I do not know for others but these are the reasons I have multiple wallets.

[ocid]

Some people have a reason they use more than one bitcoin wallet for security so that their money can be hidden in different wallets so they have a balance reserve that they have, Some even do more than one transaction so they can make more than one bitcoin purse they have for the needs of various types of transactions.

[malikusama]

People create more than one wallet due to security reasons. People don't want to save all bitcoins in a single wallet because risk is high here, they distribute there bitcoins in different wallets so that if any one of their wallet have been compromised they don't lose there overall money.

[agentx44]

Why do people create more than one BTC wallet ? What are the benefits of it ?

I think people create many btc wallets because they are creating multiple accounts here in bitcointalk to earn more. And i think they create more than one btc wallet for there safety  because people nowadays are afraid to be scam so if you have many btc wallet it's okay to be scam in a single wallet because you have plenty more wallets.

[buwaytress]

Apart from the obvious security and anonymity reasons people have already mentioned, I personally like creating different wallets (or at least different addresses) for the various different types of payments I make/receive.

This is purely administrative from a personal point of view. My main wallet (Electrum) is for large, significant transactions. Even within that, each address is assigned a purpose so I can easily do minor bookkeeping.

I also have a wallet within an exchange to store Bitcoins I intend to cash out. This allows me to immediately sell it when I need it, while saving on fees sending from my personal wallet (so I save some time and a bit of satoshi).

[gilangIDR]

Why do people create more than one BTC wallet ? What are the benefits of it ?

Everyone wants their bitcoin safe. So smart people usually divide some of the funds they have. So that the total bitcoin owned can not be known by others. Certainly can maintain the security as well as the privacy of bitcoin owners. The use of multiple wallet accounts in my opinion is very important to be applied to everyone.

[rakesh889]

price is the big benefits to creating multiple bitcoin wallet.

[Gaff]

Just in my humble view, I guess people who are into dual BTC wallet or multiple BTC wallet are those who are having trouble on their money which is intended only for a particular thing. For example,the person has difficulty in budgetting so in order for him to spend it or save it easily he has to partition his money using multiple BTC wallet. Not only for that purpose but also the security of his money that is something confidential especially those members in the family.

[Catmony]

Its like sharing the risk of losing all you have, as most of the web wallets are not quite secure it is always advised to have bitcoin wallets in multiple sites so that when one will shut down or have some problem you can access some part of your bitcoin. However I only have one web wallet in blockchain.info which I use as hot wallet and have one paper wallet which is completely offline so that I can use it as cold wallet.

[Obito]

Why do people create more than one BTC wallet ? What are the benefits of it ?

Well, because I do believe that "don't put all of your money in just one basket". It is better to diverse your money so that even if one of your wallet has been scam you have stored bitcoin on other wallet. Even though that wallet has a good security still you can't guarnatee that your money is safe. Hence, I would prefer to diverse it.

[Barcode_]

If a person prefers to use online wallet to store his bitcoins, it would be better to create multiple bitcoin wallet for keeping his bitcoins split into many different wallets, because you don't get access to your own private keys in online wallets, so even if one company does shut down their website and ran off with everyone bitcoins, he would not lost all his bitcoins because of this.

[Kprawn]

Some people create more than one BTC address/wallet to prevent "dust" from accumulating in 1 wallet/address. The "dust" will increase the

miners fees, when you want to use those coins later on. You can also create several Bitcoin paper wallets to store your coins in different locations

or simply use some for "Honey traps" <--- Leaving them on your computer with a few Satoshi's to see if someone try to steal them. Once they

are emptied, you know someone has access to your computer. 

[skorupi17]

Having multiple Bitcoin wallet is a form of assurance for users. If you manage to lost your private key or someone hacked into your wallet, you will not lose all of your assets. Just a portion of your Bitcoin will be lost. This is a good practice for users who holds large amount of Bitcoins. It is really up to the user but all must say "safety first."