Storing BTC in one wallet or multiple wallets? Your opinion

[bayu7adi]

BTC is a digital asset, and some people also consider it as a digital currency... wallet storage is often crucial, where everyone can freely create many Bitcoin wallets but they are too confused about security...

We really don't know where and when the fraud came from, but what is certain is that the fraud really brings regret... the purpose of this topic is to prevent such regret... in your opinion, do you prefer to store your BTC in several wallets, or choose to store it in one wallet?

If your choice is to store it in several wallets, then what type of wallet do you recommend? Actually, it's not just a question, but I also want to hear stories or experiences from you who have experienced unexpected events regarding the use of BTC wallets.

[enwi]

BTC is a digital asset, and some people also consider it as a digital currency... wallet storage is often crucial, where everyone can freely create many Bitcoin wallets but they are too confused about security...

We really don't know where and when the fraud came from, but what is certain is that the fraud really brings regret... the purpose of this topic is to prevent such regret... in your opinion, do you prefer to store your BTC in several wallets, or choose to store it in one wallet?

If your choice is to store it in several wallets, then what type of wallet do you recommend? Actually, it's not just a question, but I also want to hear stories or experiences from you who have experienced unexpected events regarding the use of BTC wallets.

Security or protection of assets is always a major concern, more so in the use of Crypto currencies, especially theHashTableof digital currencies or coins, commonly referred to as Bitcoin. Holding multiple wallets for assets has been widely considered safe since splitting the storage of assets can mean that if something goes wrong with one wallet, all is not lost at one click.

For that, there are such types of wallets as hardware wallets combined with software ones. Due to this, Hardware wallets provide high security because they are offline while software wallets allow us to engage in daily trading with a certain nominal value. Until now, I still store digital assets with the Electrum wallet as the main one, though I also use Trust wallet and Metamask to look for daily profit and to participate in several airdrops.

Electrum is a Bitcoin wallet that I trust because there are additional sentences that can strengthen the wallet that we have when we first create an Electrum wallet.
This for example :

[target]

I hate it when I have to sync wallet actually.  I have this kind of wallet whe  I first tried BTC, I couldn't send it quick because I have to wait for its update.

Now I only have electrum app in the phone. Its not recommended to use phone app but thru this I can mame quick transactio  to trade whenever there is the need to do it.

If you consider it multiple wallets, I have some coins in the exchange wallets.

[bitterguy28]

We really don't know where and when the fraud came from, but what is certain is that the fraud really brings regret... the purpose of this topic is to prevent such regret...

we know where fraud comes from and it is from being unprepared, uneducated and reckless if we are not careful with our assets and our devices and especially with our private information we would definitely be scammed and there could be no one else to blame but ourselves if that happens

in your opinion, do you prefer to store your BTC in several wallets, or choose to store it in one wallet?

it depends how much you have i do think that if it reaches a certain amount where it is big enough then it is acceptable to use several wallets because in case something happens to the one wallet at least you would not lose everything you have time and time again we are reminded to not put all of our eggs in one basket

[Crwth]

I haven't had any bad experience with BTC wallets ever since I started using my hardware wallets. I do have a Ledger and a Trezor, and they have been serving me well. It's the best way to store assets, which is in a hardware wallet, and no one can really get to your assets except yourself, knowing that you have secured them correctly.

Several wallets could serve different purposes, and you could do that when you have a specific goal, but if you are not looking into that, just one wallet would suffice. Make sure that it's secured.

[gunhell16]

I hate it when I have to sync wallet actually.  I have this kind of wallet whe  I first tried BTC, I couldn't send it quick because I have to wait for its update.

Now I only have electrum app in the phone. Its not recommended to use phone app but thru this I can mame quick transactio  to trade whenever there is the need to do it.

If you consider it multiple wallets, I have some coins in the exchange wallets.

In the phone apps of the electrum wallet, I think it's okay as long as it's not a large amount of value, because for me it's still different and better to use the electrum wallet on the desktop, this is just my experience using a desktop wallet.

Then it's still safer for me if you store bitcoin in multiple wallet accounts with their own specific amount, which is if you have 10 wallet accounts,
you will also save ten seed phrases that you should put in a safe place as well.

[NotATether]

No problem with that, as long as you can remember all of the seed phrases that you use for each of the wallets. If you can't though, just stick to one wallet. It will be easier for you.

I would say the exception would be if you've got a bunch of hardware wallets that you're storing securely then you can divide your cold storage BTC between them. But I would just keep the hot wallet balance on one wallet- there is no security benefit on dividing them out.

[libert19]

I use two, one is hardware wallet and one is hot wallet. I use hot wallet for bounty payments and to exchange funds on exchanges. I get overwhelmed easily, so for sake of keeping things simple, 2 is most I would go for.

[TomPluz]

In terms of security and maybe even convenience too, nothing beat hardware wallets though it does not mean one has to be free to be stupid in following security measures necessary. Now, if one has maybe a good amount of Bitcoin using multiple wallets can be a very good suggestion. Now, if one has just limited amount of Bitcoins then just one wallet will do. For people who can't or don't want to buy a hardware wallet then a non-custodial wallet is the best option. The biggest risk is actually when we forget that scammers and hackers can be at our back all the time. I am hoping that there can be a time when I would be worrying where to store my Bitcoin and I have to decide whether to buy just 1 or 3 hardware wallet...that would be a big dream come true.

[omori]

I use two, one is hardware wallet and one is hot wallet. I use hot wallet for bounty payments and to exchange funds on exchanges. I get overwhelmed easily, so for sake of keeping things simple, 2 is most I would go for.

Simple, yet effective.
I do like your approach. What is your hardware wallet, its name, I mean?

[0t3p0t]

As a mobile user, I used to have multiple wallets though all of them as 2 accounts one with the same wallet I imported and the other is a multisig random wallet. I have my main wallet which is the BlueWallet then secondary is Mycelium then optional would be GreenWallet, Electrum and Coinomi they are on standby. I can access my funds in one wallet in all these through importing keys to avoid any hassle if one is on maintenance I can still open it on the other app. Never had problems using them ever since I have installed them on my phone. My oldest wallets were Mycelium, Electrum and Coinomi because I used them since 2017.

[yhiaali3]

I prefer to divide the bitcoin into multiple wallets instead of one wallet. I have been subjected to an incident of hacking my Electrum wallet before because of a laptop hacking so I prefer to be bitcoin in several wallets.

It is true that you have to keep more seeds, but that is much better than hacking your main wallet and losing all of your bitcoin forever, and it is better if you have a large amount of bitcoin to buy a hard wallet and make sure that you do not connect to the Internet.

[ZAINmalik75]

BTC is a digital asset, and some people also consider it as a digital currency... wallet storage is often crucial, where everyone can freely create many Bitcoin wallets but they are too confused about security...

We really don't know where and when the fraud came from, but what is certain is that the fraud really brings regret... the purpose of this topic is to prevent such regret... in your opinion, do you prefer to store your BTC in several wallets, or choose to store it in one wallet?

If your choice is to store it in several wallets, then what type of wallet do you recommend? Actually, it's not just a question, but I also want to hear stories or experiences from you who have experienced unexpected events regarding the use of BTC wallets.

I store in one wallet alone because I don't have much funds to store for long terms but if you are a whale or big investor lower than whale then you will see them accumulating the BTC in one or two wallets alone. Mostly whales have one wallet comprised of all of their funds but sometimes they prefer two.

It don't matter if you hold them in one wallet or two because if you are securing the seed phrase carefully and you are using some cold wallets then your funds will be save and if any of these is not in action then your funds can be at risk but this only is necassary if you have huge amount in BTC.

[Zed0X]

Maybe just treat it like how you'll store lots of cold cash if you ever have it. You can use a 'vault' (hardware wallets) for your long term storage and then use something like a digital wallet for your quick spending. You don't have to make it complicated for yourself, keeping things simple might be more beneficial.

[joniboini]

I have multiple hot wallets for various purposes, but I stick to one cold wallet to simplify the management. I think the safety of private key recovery is much more important compared to how many wallets I use/own as mentioned above. It doesn't help that some people use a non-airgap device to store most of their wealth. CMIIW.

I read a thread where somebody lost their password or backup, and trying to recover them from various devices is a nightmare. You should calculate these risks before you decide how many wallets you'll use.