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Question: How many separate exchanges and wallets do you use?
None, I don't own any crypto - 1 (1.8%)
1, all the eggs in one basket baby - 9 (15.8%)
2-5, spreading 'em out - 25 (43.9%)
5-10, I'm an addict - 8 (14%)
10+, where'd that BTC go? - 14 (24.6%)
Total Voters: 57

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Author Topic: Poll: How many exchanges and wallets do you use?  (Read 1477 times)
poison5151
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May 02, 2014, 11:25:25 PM
 #1

Hey guys. Long time lurker, first time poster. I was just wondering how many wallets you typically use to store your cryptocurrency assets. For example, if I have an account at Coinbase, BTC-E, and Bitstamp, plus two cold wallets, I'd say 5. Just go ahead and add them up - props to those who have the most!

Edit: addresses wallets
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May 02, 2014, 11:41:43 PM
 #2

Well, exchanges have wallets as well. But in general it's 2-5 for me. Id'd have to use more exchanges if I was following new coin releases though. Plus that wallets I don't constantly use are ot added to this.

But fyi, I have more than 100 wallets downloaded to my computer. That's from the old era of Bitcointalk Giveaways. Most of them are dead/hardforked by now. Intresting fact about this would be that at somepoint I try to restore coins from those wallets and got coins worth of 0.80 BTC from one. 0.8 BTC from a giveaway almost a year back aint that bad.  Cheesy

Sorry fot the rambling


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poison5151
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May 02, 2014, 11:57:48 PM
 #3

Well, exchanges have wallets as well.

Good point. For the purposes of this poll, let's assume that most exchanges are smart enough to disguise your actual wallets and present you with an aggregate balance. Although, if I hold both BTC and LTC, on, say, BTC-E, I'd count that as two "wallets". These are nuances I wanted to steer clear of, just to make this simple.

And, yeah, I'm sure I'm not the only one wishing I'd discovered 0.8 BTC somewhere!  Grin
Massimo80
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May 03, 2014, 03:12:08 AM
 #4

What if you only have one wallet where you actually store coins, but you use multiple exchanges (without keeping coins there any longer than necessary)?
That's quite a common setup for traders, the price difference between exchanges can be quite profitable at times Wink
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May 03, 2014, 04:18:56 AM
 #5

Exchanges: BTC-E, Bitstamp, Vircurex, Localbitcoins and Kraken.

Wallets: Blockchain.into, Coinbase, and Paper Wallet.

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May 03, 2014, 08:23:24 AM
 #6


4 for now...Coinbase and blockchain and a couple smaller amounts on 2 altcoin exchanges.
I do need (want) one on my laptop, so I believe I will download a new one soon.

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May 03, 2014, 09:01:15 AM
 #7

Exchanges I used: bitstamp and localbitcoins.
Wallets I used: qt and electrum.

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May 03, 2014, 10:17:57 AM
 #8

Hey guys. Long time lurker, first time poster. I was just wondering how many addresses you typically use to store your cryptocurrency assets. For example, if I have an account at Coinbase, BTC-E, and Bitstamp, plus two cold wallets, I'd say 5. Just go ahead and add them up - props to those who have the most!

I have only used localbitcoins, and store all of them in my bitcoin core wallet. Smiley



addict.

What?

activebiz
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May 03, 2014, 10:25:40 AM
 #9

I only use a few of them after some research i select the most trusted, it been working for me

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May 03, 2014, 11:36:57 AM
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I am using Bitstamp and Btc-e for litecoin.  Smiley

DannyHamilton
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May 03, 2014, 02:42:55 PM
 #11

I'm a bit confused.

Your poll asks how many "exchanges and wallets" I use, but your first post in the thread asks how many "addresses" I use.

Which one are you trying to figure out?

I only use a few wallets, and no exchanges.

I've used a few hundred addresses (I use a new address for every transaction).

BitCoinDream
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May 03, 2014, 02:46:37 PM
 #12


I've used a few hundred addresses (I use a new address for every transaction).

Why ? Any chance of getting hacked for using same address twice ?

DannyHamilton
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May 03, 2014, 02:57:45 PM
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Why ? Any chance of getting hacked for using same address twice ?

Yes.  It can happen (and has happened to others) if you are using a bad random number generator. If you sign two different transactions using the same random number then it is possible to calculate the private key from the signatures.

Using a new address for every transaction also increases anonymity and privacy.

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May 03, 2014, 02:58:47 PM
 #14

Your poll asks how many "exchanges and wallets" I use, but your first post in the thread asks how many "addresses" I use.

I have seen quite some people having confusion with the term "address" and "wallet".

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May 03, 2014, 03:00:36 PM
 #15

Why ? Any chance of getting hacked for using same address twice ?

Yes.  It can happen (and has happened to others) if you are using a bad random number generator. If you sign two different transactions using the same random number then it is possible to calculate the private key from the signatures.

Using a new address for every transaction also increases anonymity and privacy.


By transaction, do u mean incoming transaction too ?

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May 03, 2014, 03:06:05 PM
 #16

I currently have 1, but I'm thinking of spreading them out. I'm not sure if I should use digital or paper wallets though.
DannyHamilton
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May 03, 2014, 03:09:51 PM
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Why ? Any chance of getting hacked for using same address twice ?

Yes.  It can happen (and has happened to others) if you are using a bad random number generator. If you sign two different transactions using the same random number then it is possible to calculate the private key from the signatures.

Using a new address for every transaction also increases anonymity and privacy.


By transaction, do u mean incoming transaction too ?

Every time someone sends me bitcoins, I generate a brand new address to receive with.  Every time I send bitcoins to someone, I generate a brand new address for the change. This is how Satoshi Nakamoto recommended using bitcoin. Because of this, I never use the same private keys to sign any inputs to any transactions.

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May 03, 2014, 03:12:57 PM
 #18

Why ? Any chance of getting hacked for using same address twice ?

Yes.  It can happen (and has happened to others) if you are using a bad random number generator. If you sign two different transactions using the same random number then it is possible to calculate the private key from the signatures.

Using a new address for every transaction also increases anonymity and privacy.


By transaction, do u mean incoming transaction too ?

Every time someone sends me bitcoins, I generate a brand new address to receive with.  Every time I send bitcoins to someone, I generate a brand new address for the change. This is how Satoshi Nakamoto recommended using bitcoin. Because of this, I never use the same private keys to sign any inputs to any transactions.

Ouch !!! this is critical. Can u plz point out where Satoshi Nakamoto recommended this way ?

poison5151
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May 03, 2014, 04:57:41 PM
 #19

Your poll asks how many "exchanges and wallets" I use, but your first post in the thread asks how many "addresses" I use.

Which one are you trying to figure out?

The gist of it is, I want to know how many different "things" you'd need to log into to figure out your total balance. E.g., log into Coinbase, Bitstamp, and pop open your desktop wallet, so that's 3. It doesn't matter how many addresses you've generated to use with that wallet, unless of course you have a separate one in, say, a mobile wallet.

Is that clearer?

What if you only have one wallet where you actually store coins, but you use multiple exchanges (without keeping coins there any longer than necessary)?
That's quite a common setup for traders, the price difference between exchanges can be quite profitable at times Wink

Indeed. If you have an active account, please count it, regardless of whether you are storing cryptocurrency there long-term.

By the way, appreciate all the responses so far. This data will go to good use  Grin
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May 03, 2014, 05:17:09 PM
 #20

3-4 wallets.

As for exchange, use only 2, and hardly much.
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