What is better? Using one storage option or using several methods? - Bitcoin.

[tiedcoin]

I think we should store the majority of our funds offline and just a little amount online for daily use or trading. It would be great to have different wallets, encrypted with different methods, and cold stored in multiple physical locations.

[Kakmakr]

I see a lot of responses where people seem to think it is safe to use one method but to have more than one device or account with that method. That for me is the same as using one method and you are still at risk <even if you have multiple accounts or devices> when a exploit is found in that method. 

Let's say some hacker found some way to hack a Trezor wallet and you have 3 Trezor wallets, then all your coins on those wallets will be lost, if the hacker was able to access the wallet remotely. 

The same goes for all the other methods of storing coins, eg. desktop/online/paper or hardware wallets. 

[squatter]

I see a lot of responses where people seem to think it is safe to use one method but to have more than one device or account with that method. That for me is the same as using one method and you are still at risk <even if you have multiple accounts or devices> when a exploit is found in that method. 

Let's say some hacker found some way to hack a Trezor wallet and you have 3 Trezor wallets, then all your coins on those wallets will be lost, if the hacker was able to access the wallet remotely. 

It's not quite the same. Separating funds will protect you in certain situations. If you have 3 Trezor wallets in 3 different locations, 2 out of 3 may be saved in a $5 wrench attack scenario or a physical disaster like a fire.

In terms of software/hardware exploits, you are correct though. That's why I use more than one type of wallet for my cold storage.

[bitbunnny]

Security is one of the big issues in crypto world and people very often lose their coins but still don't pay enough attention.
It's not safe to store your coins on exchanges, they are not meant to be wallets, or in online wallets. Also, it's well known that is not very wise to keep all eggs in one basket so that applies for cryptocurrency too. No one will care about the safety of your Bitcoin unless you do, remember that.

[Slow death]

Yeah, since I dont have so much bitcoin then I don't have different wallets to stored  them.

I think that even if people have few bitcoins, they should keep in many different places. If any thief steals from you, then that thief will only steal a small part of your coins. and even if you get a lower bitcoin, it's better to have little than nothing

I only have one digital wallet for bitcoin and for other coins, too.

 

if someone has access to your wallet then you will lose everything

[adaseb]

If you are storing your coins properly and have backups of your private keys, wallet.dat files, word nmonimcs and you've tested this method a few times and could regenerate your wallet from a hard drive crash then you shouldn't have to keep your bitcoins split up.

Like you said, don't keep it on an online wallet but if you got a safe electrum running offline in cold storage or if you print a paper wallet then splitting it up doesn't make sense.

Only reason to split them up would be if you wanted to sell it in smaller fractions instead of having to keep creating new paper wallets after every transaction. Say you wanted to sell 10% of your bitcoins every quarter, then just make 10 paper wallets and this way when you send 10% of your wallet you don't need to create a new paper wallet right after since the coins were moved and rendered that paper wallet useless.

[RealMalatesta]

Not relying on one source of storage is okay but it still depend on individuals, individuals in the sense that some might be creating more disaster than they think they are protecting their coin when they have it in too many storage, like I have a friend who is a very careless person and a forgetful person, managing one access to a storage has been hell for him because he keep forgetting his passwords both to his wallet and to his email most time.

Every time he wants to log in after a while, it is either he does password recovery to log in, so people like that will find it quite difficult to manage several storage, but there is still nothing bad actually in storing in a storage, it helps you to be more organized and to be able to keep an eye on your coins at once.

[Darker45]

Not relying on one source of storage is okay but it still depend on individuals, individuals in the sense that some might be creating more disaster than they think they are protecting their coin when they have it in too many storage, like I have a friend who is a very careless person and a forgetful person, managing one access to a storage has been hell for him because he keep forgetting his passwords both to his wallet and to his email most time.

Every time he wants to log in after a while, it is either he does password recovery to log in, so people like that will find it quite difficult to manage several storage, but there is still nothing bad actually in storing in a storage, it helps you to be more organized and to be able to keep an eye on your coins at once.

In this case, the joke is on your friend. This does not have anything to do with the safer or more secure manner of storing coins, whether single storage or multiple storage. This is all about an individual's responsibility or his failure to store or keep his passwords, seeds, keys, pins, and whatever important information in a safe place where he could easily access them.

As for me, it is always better to store your coins in multiple storage rather than on a single one. This does not need much explanation. With a single storage, it only takes a single attack for you to lose your entire portfolio. It will not happen with multiple storage.