Have you saved your bitcoins in multiple wallets?

[Welsh]

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.

I suppose physical security is something that should be considered. Especially if you're holding onto a lot of Bitcoin. As the saying goes, if physical access is given, assume your device has been compromised. I do believe there has been issues in the past with hardware wallets being compromised physically.

Obviously, if you're going into the expense or time to get multiple wallets, they shouldn't be stored in the same place, that's quite obvious I hope. Although, the poll reflects what I would expect, most users don't actually need to have multiple wallets, and it all depends on your own personal threat model. Most of us don't have the amount of Bitcoin where setting up multiple wallets is worth it. Plus, most users aren't invested completely into Bitcoin, but rather have a small amount of their net worth invested.

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[dataispower]

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?

Is not necessary to save your bitcoin for different wallet, is your choice but it is not matter of insecurity or security purposes. If you want to save all your Bitcoin in one wallet. This wallet is secured and it will be difficult before somebody can remove your bitcoin without knowing your seed phrase. So below is recommendable

(1) trust wallet
(2) electrum wallet.
(3) coinomi.

[Doan9269]

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

definitely it is encouraged but one thing that must be ensured is that having multiple wallets addresses where your bitcoin can be accessed through does not guaranteed maximum protection against an attack on your coins, there's urgent need to secure the wallet keys and sensitive informations by not redering it to vulnerable attack, when you're security concious then it lower the ability to operate an attack on your wallet especially the keys to access your coins on the blockchain must not be taken on a levity hand or accessed by a third party, it is also good enough to make use of a decentralized exchange than a centralized exchanges whereby you don't own your keys which is another vulnerability on itself.

[Welsh]

Is not necessary to save your bitcoin for different wallet, is your choice but it is not matter of insecurity or security purposes.

That's not true. There are definitely security benefits of separating funds. Even with hardware wallets which I pointed out above. Although, some are a little more hardened than others. The point is the vast majority probably don't have enough to justify going through these additional steps to secure their Bitcoin.

If you've got a completely offline wallet, then you could argue there's no risk of losing it. However, that entirely depends on how you're storing the back up. Separating these doesn't necessarily mean you'll keep the second copy any more secure than the other.

However, there are definitely certain circumstances which separating funds will prove to be beneficial from a security stand point.

[Marvell1]

I think it is a necessary action not only for bitcoin but we should use two or more wallets to store crypto assets, this will help us limit the situation of property theft, if we lose we only lose part of our property instead of all.

Storing on multiple wallets takes time and requires more room for us to store phrases, so if you have a large amount of bitcoins you should use it, if the amount of bitcoins is insignificant then I think it is not so necessary.

[Zlantann]

Keeping a large amount of Bitcoin in a single wallet can attract potential criminals. Most criminals are familiar with cryptocurrencies and accessing multiple wallets might be more difficult than a single wallet. And when they access a single wallet and see lots of funds, the wallet owner becomes a prime target. But when Bitcoins are splinted into different wallets, the amount in each one might be insignificant to criminals.
Splitting up huge crypto funds can also enhance privacy because smaller transactions draw lesser attention than larger ones. It also helps to protect the Bitcoin market from unnecessary panic. Although, the identity of individuals involved in a Bitcoin transactions might be anonymous but activities in wallets is easily accessible. Hence, investors can see when a large quantity of Bitcoin is been transacted, this action can cause a spark panic among investors. Many investors out of fear might begin to dump their Bitcoin and this can impact on the entire Bitcoin market drastically. But when different wallets are used to move large funds, the impact might be mild. In summary, storing Bitcoin in a  single wallet might be convenient, but is not a very good idea.

[pawanjain]

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?

It's a good idea to diversify your holdings in multiple wallets but according to me we should do that only if we hold lots of bitcoins.
I personally hold less than 1 BTC and so it's better for me to hold it in a single wallet. We should acknowledge the risks involved in holding bitcoins in multiple wallets.
The more number of wallets the higher chances of those particular bitcoins getting stolen.

[m_nief]

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?

Is not necessary to save your bitcoin for different wallet, is your choice but it is not matter of insecurity or security purposes. If you want to save all your Bitcoin in one wallet. This wallet is secured and it will be difficult before somebody can remove your bitcoin without knowing your seed phrase. So below is recommendable

(1) trust wallet
(2) electrum wallet.
(3) coinomi.

Depending if not active using trustwallet for an exchange like pancakeswap and mever approved any dusting attack coin I think keep secure when saving bitcoin assets there, bit have good priority for saving assets between exchange market or hard ware wallet. Second option are saving place if OP want keep secure his assest keep safety what ever long or short term holding. But I like saving bitcoin and several altcoin assets on exchange market, easy for selling when price suddenly pump witjout have to move exchange account when trading.

[Welsh]

Keeping a large amount of Bitcoin in a single wallet can attract potential criminals. Most criminals are familiar with cryptocurrencies and accessing multiple wallets might be more difficult than a single wallet. And when they access a single wallet and see lots of funds, the wallet owner becomes a prime target. But when Bitcoins are splinted into different wallets, the amount in each one might be insignificant to criminals.

Well, potential criminals probably wouldn't know since you could effectively use multiple addresses. Plus, it entirely depends on how you're using the wallet in the first place. Broadcasting that you have any significant amount of money probably isn't the best idea, hence why reusing addresses isn't recommended. Although, we all pretty much do it out of laziness/convenience.

But I like saving bitcoin and several altcoin assets on exchange market, easy for selling when price suddenly pump witjout have to move exchange account when trading.

Even then though, that's opening you up to what I would consider unnecessary risk. Instead, you could just have a wallet Electrum, Bitcoin Core or whatever one you own the coins on, have it online with the same amount you're willing to risk, and transfer it to the exchange when need be. It would take like 10-15 minutes more, and a small fee. However, that additional time/cost will benefit security.

[thet]

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?

Well, for me, since i doesn't have more savings with me, I prefer to have 1 wallet but if you have plenty of savings and bitcoin with you and you prefer to have more wallet address?Then it is your choice. Whatever makes you comfortable will do.

[Issa56]

I think splitting your bitcoin in a multiple wallet is a nice idea, but I believe if you don't really have much bitcoin I don't really think is necessary. For me now have been holding bitcoin for few years now and have been holding in just a single account, actually am still buying more bitcoin with the extral cash am having because I believe I don't really have enough bitcoin yet, but maybe later whenever am satisfied with the amount of bitcoin am having I can now split it into multiple accounts or maybe I will split in very soon.

[Cryptmuster]

But I like saving bitcoin and several altcoin assets on exchange market, easy for selling when price suddenly pump witjout have to move exchange account when trading.

This is convenient if you are an active trader, but there are definitely additional risks that can be avoided. Even if we are talking about an amount that is not a pity to lose, it can still be a loss of funds, which we do not need. You won't spend much time moving coins from wallet to exchange if needed, but it can save you money.

[_BlackStar]

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

The adage is true, so it's best not to keep it in just one wallet unless you don't have a lot of bitcoin.

I don't have a lot of bitcoin, so there's no need to store them in many different wallets. But if I have 1, 2 or more bitcoin then I think storing them in some offline wallet is a good choice. So far the hardware wallet is the recommended storage wallet for those of you who have large amount of bitcoin, don't ignore it and the most important thing is to backup seeds and private key offline.

[cheezcarls]

For now I have saved my Bitcoin in the hardware wallet. But since I have more than one hardware wallet, I am planning to save it to another one in case I have accumulated a decent or big amount of it. And yes I agree that we should never put all of our eggs in one basket, even if it’s a hardware wallet. We should be always prepared for any circumstances later regarding our BTCs.

[Natalim]

For now I have saved my Bitcoin in the hardware wallet. But since I have more than one hardware wallet, I am planning to save it to another one in case I have accumulated a decent or big amount of it. And yes I agree that we should never put all of our eggs in one basket, even if it’s a hardware wallet. We should be always prepared for any circumstances later regarding our BTCs.

That is the thing we are supposed to do as we don't know if we are the next target of these hackers. A sort of market anticipation and fund security seems to be our top priority just to give no way of these hackers to succeed in their evil works that actually become rampant nowadays. But I think this was not just the thing we do, we also have to be more careful in using our PC/laptop when accessing our hardware wallet, we leave no trace for these people as every single mistake we made, that will be their chance.

[goldkingcoiner]

I guess you can do that but then the problems start arising when you lose or forget your seed phrases. That's gotta suck. I think 1 wallet is exactly the right number and maybe 1 more if you really need to feel like you would not lose two seed phrases the same way you wouldn't lose three.

You can just encrypt your seed phrase if you really need to and remember the encryption password. If you forget the seed phrase, you might be able to recover it and you would feel that nobody except you can get to the seed phrase on your other stored devices.

But that sounds a bit much, unless you have hundreds of thousands of dollars worth of BTC.

[Jemzx00]

But I like saving bitcoin and several altcoin assets on exchange market, easy for selling when price suddenly pump witjout have to move exchange account when trading.

This is convenient if you are an active trader, but there are definitely additional risks that can be avoided. Even if we are talking about an amount that is not a pity to lose, it can still be a loss of funds, which we do not need. You won't spend much time moving coins from wallet to exchange if needed, but it can save you money.

Storing bitcoin on an exchange site would really be convenient if you are an active trader however the risk could provide you significant hassle in the long run. For security purposes, bitcoin wallets such as bitcoin core, electrum would be much better as it will be harder to hack. Unlike with exchange sites which you can easily encounter notification on a daily basis of someone trying to log in with your account. (Based from experience from various exchange sites especially famous ones).
Also, it is common for exchange sites to conduct maintenance and you won't be able to withdraw your funds on your account. So yes, there are most risk and inconvenience that can be encountered from exchange sites to software wallets.
As with the OP's question, I guess having multiple wallets would be good if you have a significant amount of bitcoin (does not mean it must a high amount). I mean, if you an insignificant amount of bitcoin, you will need to shoulder the multiple transaction fees that would cause you losing funds with bitcoins.
For me, I have atleast 3 kinds of wallets where I store my bitcoin. I have local wallets for convenience, in case that I will require emergency funds or fiats to dispose with. A software wallet for saving my coins and for crypto transaction. Lastly, I store some coins including other crypto on exchange site to do some trading from time to time. However, I guess it would be better to have a physical hardware wallet instead for better security on your coins.

[Fesatmas]

For now I have saved my Bitcoin in the hardware wallet. But since I have more than one hardware wallet, I am planning to save it to another one in case I have accumulated a decent or big amount of it. And yes I agree that we should never put all of our eggs in one basket, even if it’s a hardware wallet. We should be always prepared for any circumstances later regarding our BTCs.

That is the thing we are supposed to do as we don't know if we are the next target of these hackers. A sort of market anticipation and fund security seems to be our top priority just to give no way of these hackers to succeed in their evil works that actually become rampant nowadays. But I think this was not just the thing we do, we also have to be more careful in using our PC/laptop when accessing our hardware wallet, we leave no trace for these people as every single mistake we made, that will be their chance.

Yes, they will always be smart in finding loopholes, even the slightest mistake can be used as an opportunity for them to move. Caution must always be observed, even if we consider that it is the safest place to store bitcoins. Hardware and whatever we use there are still gaps to provide opportunities for irresponsible people to enter.

[BITCOIN4X]

I think it is a necessary action not only for bitcoin but we should use two or more wallets to store crypto assets, this will help us limit the situation of property theft, if we lose we only lose part of our property instead of all.

Storing on multiple wallets takes time and requires more room for us to store phrases, so if you have a large amount of bitcoins you should use it, if the amount of bitcoins is insignificant then I think it is not so necessary.

Exactly, this applies not only to bitcoin but probably to all other valuable assets in crypto as well. When we talk about storing bitcoin or other crypto assets in multiple wallet, it will obviously be done by long term holders who have hundreds to millions of dollars in crypto. The risks of holding in one wallet are indeed greater than many, but it just depends on the preferences of the owner and how to secure the wallet.

If it was me, then having two different wallet to hold bitcoin long term would likely suffice. Of course it should be stored in a hardware wallet because the security I have is much better than the others. But if I am not a holder (only a trader) then I don't need to have multiple wallets to store my assets for the while.

[evichi]

As your investments increase, it is a very wise decision to have it stored in two or more wallets. Just as the saying goes, don't put all your eggs in one basket. It is also important to have the keys kept outside the internet (offline). These are simple investment principles for all investors especially when your assets are appreciable.