Why do people create more than one BTC wallet ?

[michkima]

A lot of reasons to be honest.

1. Anonymity
2. Easier management of funds
3. Separation of identities
4. Special transactions

Well, now that you think of it, there are so many that I may have not listed here. It varies per person and per need of that person generating more than one address/wallet.

[Gaaara]

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

The security purposes, you get advantages from lessining the risk of taking all your money from a hacker and some reason are that they wanted to join a signature campaign with two accounts because if the manager noticed that you're using 2 bitcoin accounts with their campaign you might get a red tag or be permanently banned for their campaign, by doing this ther income wll become twice as much.

[halych]

The very first reason is probably because people simply do not want to keep all their savings in one purse. If suddenly one of their wallet is broken, then the remaining coins remain intact on other accounts

[Baofeng]

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

You don't want to put your eggs in one basket. So you have to make different wallet in case you lost your seed or password or even a hacking. Others for simple account. Maybe one account is for paying or making transactions, while other btc is for receiving only. Of course, for privacy and security purposes as well.

[choppork]

The short answer: is because they can.

The long one: You're actually not anonymous in bitcoin, but rather pseudonymous. You can have as much wallet as you want. Most people don't want to be traced online and so they create multiple wallets. I have a wallet that's for transactions on Facebook, and then a wallet for the payments here on bitcointalk. I really prefer having them separated since I want the balance to be separated as well. It's not that hard to create a wallet.

I've created numerous amount of wallet just because I get this feeling that someone has found the seed of my previous wallet. I create a new wallet, transfer all the funds of my previous wallet to that, and then place the new seed somewhere safe. A new wallet means new seed and let's say someone actually have the seed of my old wallet, I'm already safe from any of his attacks. He'd have to find my new seed again.

[bncbnc]

The very first reason is probably because people simply do not want to keep all their savings in one purse. If suddenly one of their wallet is broken, then the remaining coins remain intact on other accounts

yes that is very right. to me in fact most of the people are using online wallet, which may not be so much secure, therefore when people have more bitcoin in their wallet then there is more risk of losing their money, therefore most of the people distribute their money in different wallet, where they feel a little safe. to me I am using different wallet for different purposes. for signature campaign and for spending money I have separate wallet which mostly use for spending btcoin, while for trading I have another wallet, which I only use for trading and holding bitcoin for investment purposes.

[LodisMcguire]

For me,it's to use for different purpose,my first wallet is to save my earning such as from trading,sign camp and give away
the other is to save my coin that i buy personally using fiat,everyone have a different reason,but mostly it's for separating their earning

[Kusheez]

The very first reason is probably because people simply do not want to keep all their savings in one purse. If suddenly one of their wallet is broken, then the remaining coins remain intact on other accounts

yes that is very right. to me in fact most of the people are using online wallet, which may not be so much secure, therefore when people have more bitcoin in their wallet then there is more risk of losing their money, therefore most of the people distribute their money in different wallet, where they feel a little safe. to me I am using different wallet for different purposes. for signature campaign and for spending money I have separate wallet which mostly use for spending btcoin, while for trading I have another wallet, which I only use for trading and holding bitcoin for investment purposes.

I heard that if you want to remain anonymous, you should change your address every once in a while, but hiwnis this possible? If everybody switched wallets wouldn't we run out of possible keys because they all got used up? Will people have wallets that other people are currently using, O mean, will the same wallet be registered in two different clients?

[dothebeats]

Most is usually for other purposes. I personally have 4 wallets, 2 of which are for cold storage and the rest are for everyday spending and general shopping of games. It is also advisable to have multiple wallets and create multiple backups so that if in case one of your backups get compromised, you still have plenty of other backups to use. Also, having multiple wallets saves you from hacks. Putting all of your eggs in a single basket is never a good idea, too.

[jc89]

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

This is for the sake of safekeeping. Having a single wallet is prone to some uncertain events such as hacking and forgetting the private key or passphrase. So in order to lessen the casualties, some user distribute their coins on different wallets. This way, if a wallet was subjected to a disappointing event, then the user will lose only a portion of his coins and not the entire coins in possession. Some also use different wallets for different type of transaction so that confusion will not take place.

[xSkylarx]

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

I think it is for safety purpose ,
There are different type of Bitcoin wallet some use bitcoin cold storage for keeping it for long time and I also use our local bitcoin wallet for cash out purpose,

[raymond541]

people create more than one BTC wallet for security and anonymity reasons.like dont put all your eggs in a basket.there are 2 type of storage cold storage and online storage.cold storage use for long time holding bitcoin and online storage use for daily trading.some wallet provider have fees free transaction.like coinbase wallet fees free transaction you can send free coinbase wallet to coinbase wallet.

[el kaka22]

The very first reason is probably because people simply do not want to keep all their savings in one purse. If suddenly one of their wallet is broken, then the remaining coins remain intact on other accounts

That is the main reason I too believe but then they can simply print the private key and they can rest assured that they can't loose their bitcoins.

I have been using two wallets since a long time, but that is actually a exchange, c-cex, they pay a good fee on withdrawals while they only charge 0.0002 so I use them for quick payments and for accepting money from clients I use xapo and blockchain, xapo is sometimes dangerous as they ask ID proofs.

[FlightyPouch]

I think they have their own reasons like the security and anonymity, I did create two bitcoin wallets so I can have two storages. I feel secured when I did that though my bitcoin is not that big amount I just feel so secure with it and if someone is tracking my wallet, they will be confused with the two accounts making it more private.

[MyIdeas]

I use multiple bitcoin wallets because I want to secure my bitcoins. I know there are a number of issues often occur with a wallet like hacking are other ways of losing it. So if I will have a number of wallet and if I would lose one of them then I will not lose and of my bitcoins because I have distributed all of my bitcoins in different wallets.

[whizter]

I use multiple bitcoin wallets because I want to secure my bitcoins. I know there are a number of issues often occur with a wallet like hacking are other ways of losing it. So if I will have a number of wallet and if I would lose one of them then I will not lose and of my bitcoins because I have distributed all of my bitcoins in different wallets.

i think different people have different reason for that. may be some people just want to use different wallet for different purposes, for example a person will like to use separate wallets for signature campaign, trading, gambling and for spending bitcoin.

[pixie85]

I have only one wallet, but multiple addresses. I've never had the need for multiple wallets and one is much easier to manage. Some wallets allow you to create multiple users within one program, so you can have many separate wallets and all are easy to access. The main reason why people are using multiple wallets is because wallets can be tracked with wallet explorer. Sometimes you don't want your addresses to be linked together.

[Haxor321]

Many people are creating more than one wallet for them to explore and to try what institutions are compatible to them.And having more than one wallet is not a ao airious matter

[groko271]

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

I have several wallets for different purposes, which I took the time to set up several years ago. Wallets for buying/selling, wallets for trading, plus more secure offline wallets to store(hoard) the majority of my coins.

Actually as I have been gathering bitcoins since before I got married, I have a small proportion in a wallet my wife can see, and a large amount of hoarded coins my wifey doesn't know about. I cannot wait one day to tell her about it..... or if she dumps me, she wont haha. I was thinking of starting a thread about this, if anyone has a crypto stash hidden from their partners?? 

[VenceyBit]

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

I have multiple bitcoin wallets I used for trading and for holding. Having more than one bitcoin wallets has less risk. Hackers are out there so if you store all your bitcoins in one wallet risk is very big. You might want to store it on paper wallet or hardware wallets when you are holding it for a long term.