Have you saved your bitcoins in multiple wallets?

[ajaxtempest]

As the saying goes dont keep your eggs in the same basket. So have you saved all of your btc in mutiple wallets\software?

I like to split with electrum air gapped and bitcoin core.

Should i make it 50:50 even though bitcoin core is always online?

The amount is not that much but i am thinking that if i make it to good amount of mbtc, it will be prudent to divide the amount.

Any OGs who can give feedback?

[1715374858]

1715374858

[Don Pedro Dinero]

If the amount is not that much, I wouldn't bother.

As you have more, you can have them in two wallets, but if it is a lot, if we talk about having lots of bitcoins, what people do is that they not only have them in several wallets but they use multisig systems.

[mocacinno]

I usually split between hardware wallets, and only keep pocket change in online wallets (and even then, the pocket change is spread over electrum and core).

[nullama]

One thing that is important to point out is that the bitcoin you're storing in a hot wallet like your Bitcoin Core one shouldn't have more than a small amount. This is because it's basically not as secure as the bitcoin you're storing in a cold wallet.

I don't see the point in having multiple cold storage wallets, but it doesn't hurt as long as you keep them secure. If the amount you're storing is very large you might consider having multiple signatures for a single cold storage wallet to increase security though.

[BlackHatCoiner]

As the saying goes dont keep your eggs in the same basket.

This rule doesn't apply if you've taken the necessary precautions. For example, if you've verified the binaries of Electrum on a freshly installed open-source OS, on a machine that you've removed things like WiFi antennas, then you're fine. Turn off the lights, close the curtains, generate your seed phrase, write it down on a paper, copy the master public key, and you're safe.

I don't use Bitcoin Core as a wallet. There's no reason. Stick with Electrum that's lightweight and don't make things more complicated than they already are.

[Despairo]

Splitting your coins into two wallets are enough IMO, the first as a hot wallet where you carried on your cellphones, while the other as cold wallet for long term holding. Splitting into many wallets have a risk e.g. forgot where you stored, especially you're divide/spread some seeds in some hidden places.

If you want better security, make sure you have another cellphone, where the one doesn't have any Bitcoin stuffs for your daily usage.

[Mauser]

Yes it's better to store your crypto coins in multiple wallets than having everything in one wallet. In my opinion the security risk is too high when using only one wallet. It also depends on the size of your wallet, if you only hold a few hundred USD worth of cryptos than it might be easier to just use one. But once your wallet grows I would recommend to split into different wallet. For me I have one mobile wallet which I use for small transactions, everything less than 100 USD. And then I have one paper and one hardware wallet for long term storage. It's a little bit more work to organise multiple wallets, but like this if anything happens to your wallet you atleast don't lose everything.

[bakasabo]

I am holding Bitcoin and crypto on an online wallet, exchange, electrum. I cant say that I have divided holding identically, I just keep crypto where it appears. As I mostly hold, visit practically same internet recourses from day to day, I dont bother a lot about security of my funds. I just keep seed phrases and passwords far from devices like PC, laptop or tablet computer.

[Lucius]

I am holding Bitcoin and crypto on an online wallet, exchange, electrum.

If it's a smaller amount, then I can still understand that you use online wallets or crypto exchanges - although you should know that neither of these two methods is desirable as a storage method because you are always exposed to hacking or possible exit scam.

I cant say that I have divided holding identically, I just keep crypto where it appears. As I mostly hold, visit practically same internet recourses from day to day, I dont bother a lot about security of my funds. I just keep seed phrases and passwords far from devices like PC, laptop or tablet computer.

You should worry more though, because some others are certainly trying to find a way to steal what you have. It makes no sense to keep your passwords and seeds as far away as possible from the device you are using, especially if you have not protected them well. Storing backups in different locations makes sense, but only if those locations are secure - otherwise you only increase the risk of someone finding them, accidentally or intentionally.

[witcher_sense]

It is a very wise approach to never keep all your coins in one wallet; you should split them between different wallet implementations and also between different private keys to avoid completely or at least minimize your accidental losses and planned attacks on you. However, splitting the coins usually involves creating and storing dozens of backup files, which most people don't like to do or have no idea how to do properly. If we assume that a wallet is something you have direct access to with the keys you control, you will have five ways to split your coins:

1) between mathematically unrelated keypairs (each keypair is an independent wallet);
2) between mathematically unrelated seed phrases (each seed is an independent wallet);
3) between different passphrases (each combination of seed+passphrase results in an independent wallet https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki);
4) between mathematically related keypairs (all keys are derived from a single seed https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki);
5) between mathematically related seed phrases (one seed creates many seeds https://github.com/bitcoin/bips/blob/master/bip-0085.mediawiki).

The last two options require a minimum number of backups while providing access to thousands of wallets.

[Ziskinberg]

The use of multiple wallets is only advisable if we have a huge amount of Bitcoin to store, IMO.
I only used electrum for many years and I never encounter any problems or even hacking incidents. Maybe because I was too careful in dealing with other people and was vigilant to links. What I think is that we don't need to split our funds just to add security, it all matters how we handle our seeds, keys/password.


In fact, I used a non-custodial wallet that is available in our country and still doing it well. I use 2FA just to add security and I think it was enough.

[mk4]

Why not just use one Ledger/Trezor hardware wallet? That's ample security already. And if you want to take it one step higher, probably use multisig with multiple devices, or the shamir secret sharing scheme. A Ledger Nano S is only like $70 or something.

[ajaxtempest]

Why not just use one Ledger/Trezor hardware wallet? That's ample security already. And if you want to take it one step higher, probably use multisig with multiple devices, or the shamir secret sharing scheme. A Ledger Nano S is only like $70 or something.

its closed source. You trust them? and not to mention so many scams with ledger and trezor. MAke your own hardware wallet like raspberry pi 400 or pico.

[stadus]

I save it in a a different wallet, right now, my bitcoin is in my electrum and I have a different wallet just to make sure the risk are minimized. Before, when I have a large amount of bitcoin, I use a hard wallet as I intend it to hold long term, but when the time comes that I was tempted to sell, I cash it out everything and enjoyed a little profit.

For security purposes, it's good to save it in a hard wallet, the more wallets you have the better.

[Despairo]

its closed source. You trust them? and not to mention so many scams with ledger and trezor. MAke your own hardware wallet like raspberry pi 400 or pico.

You're not entirely correct, trezor is open source [1][2][3] and not all ledger version is closed source, ledger live is open source for both mobile and desktop version [4]. The scams related with ledger and trezor are because of the malicious script from the unofficial retails, so you should bought from the official store/retails. The problem about ledger is leaked of the customer information, while trezor it's still a rumor.

You can create your own hardware wallet, but it's not that easy and most people can't do the correct way. That's why it's more convenience to use trustworthy and popular centralized hardware wallet e.g. trezor or ledger.

[1] https://github.com/trezor/trezor-core/blob/master/docs/hardware.md
[2] https://github.com/trezor/trezor-firmware
[3] https://github.com/trezor/trezor-suite
[4] https://github.com/LedgerHQ

[dkbit98]

As the saying goes dont keep your eggs in the same basket. So have you saved all of your btc in mutiple wallets\software?

It's good idea to split your Bitcoin holdings in multiple wallets, and this can be software wallets, hardware wallets or combination of both using something like multisig setup.
This adds extra complexity but it also increases security a lot, and this should be done if you are holding larger amount of bitcoins.
I would never hold any bitcoin on centralized exchanges, and I don't consider this to be ''wallet'' at all, they should only be used for trading.

Should i make it 50:50 even though bitcoin core is always online?

I won't talk exact percentage and this can be different for everyone, but I would keep majority of coins in cold storage.
This can be created using software wallet on offline computer, paper wallet or by using hardware wallet that is most simple option.
You can hold rest of your holdings that you plant to spend periodically of hot wallets, and for daily transactions mobile wallets are perfect.
I would suggest that wallets you used should be verified open source and non-custodial.

[mk4]

its closed source. You trust them? and not to mention so many scams with ledger and trezor. MAke your own hardware wallet like raspberry pi 400 or pico.

1. Trezor and ColdCard are fully open-source
2. If you don't trust any of them, you're not forced to use their own software. You can simply connect your hardware wallet to the likes of Electrum
3. The scams are concerning phishing(or social engineering in general), not problems with the hardware wallets themselves

P.S. If being open-source is a big deal for you (which is very understandable), I sure damn hope you're using Linux, not Windows or Apple.

[swogerino]

Most software wallets gives you the ability to have a seed,a 12 words secret that you can save in a different place than where you have your wallet.The best choice is to keep your coins in a hardware wallet but personally I never felt the need for such wallet although I had Ledger hardware wallet once.I have kept and keep a relatively big amount of money in Electrum wallets and have done so from quite some many years now and nothing bad has happened to me.The only thing I am extremely fanatic is to keep using Linux as an OS and never in a network with other hosts but in my personal isolated host.

I have never been hacked but I would not recommend it to you unless you are tech savvy and computer literate at an advanced level,for other normal people I suggest the hardware wallet as the best option.Even such hardware wallets like Ledger offers you the possibility of 12 or 24 words secret that you can save in a safe or at a place which you consider the most safe place for you.

[thecodebear]

Currently have my BTC in 3 paper wallets. Used to be more but now I only have three left. Two are small (less than 0.5 BTC each) while the other one has most of my bitcoin. Though I bought a little more Bitcoin recently as the price got low, currently on exchange but I'll move that to a new address to keep it separate from my old bitcoin.

In a few years whenever I next touch my big address I'll probably split that bitcoin it up into two, one that I'll probably just keep forever, another one with a few bitcoin that I might feel like spending on houses or something in the future. Just so that I have most of my Bitcoin in like cold decades-long storage that I never have to touch again.

[cabron]

 
If you think that you are going to hold those coins for  as long as you could, it will be a good idea to keep a separate wallet for it.

Split them in  two. Maybe store the coins that you will just move for emergency purpose only. And another for the coins that you use for something else like betting. For me 0.5BTC is already worth moving to another wallet. Some may consider it a small amount but I don't.