Storing BTC in one wallet or multiple wallets? Your opinion

[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.

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

I use tangem card.

[examplens]

OP, This may be a tricky question, because it largely depends on the amount of Bitcoin you have, as well as how often you use it, i.e. have in/out transactions. For example, if you have a large amount of BTC that you don't spend, then there's really no need to divide it into multiple places. But, if you have BTC in several places, it's just unnecessary fragmentation and later it will cost you more to transfer due to too many UTXOs.
I use one Trezor wallet, one account for storage and a separate one for everyday use. I'm fine with that.

[Faisal2202]

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.

Storing in multiple wallets can increase the security and it is better than storing in one wallet because if anything goes wrong with one wallet like you mistakenly click on a link or attach that wallet to some spam site your funds will be gone and you can't get them back ever.

Therefore, such mistakes can also be managed if we will have multiple wallets from multiple software like one from xodus or electrum etc.

[Baofeng]

Security wise, it's better to have Bitcoin stored in multiple wallets, you can have

a. hardware wallet - obviously for long term
b. electrum - for your like every day need

So it's up to you the most important thing is how you are going to protect your keys or mnemonic phrase.

[doc]

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.

Storing in multiple wallets can increase the security and it is better than storing in one wallet because if anything goes wrong with one wallet like you mistakenly click on a link or attach that wallet to some spam site your funds will be gone and you can't get them back ever.

Therefore, such mistakes can also be managed if we will have multiple wallets from multiple software like one from xodus or electrum etc.

Actually if we keep our main wallet, it will be safe. I also use several wallets to store my crypto assets and keep them from being hacked or phished. When I follow an airdrop, I always use a new wallet so that my crypto assets are safe and don't just click on links that will take our assets

[PX-Z]

I have desktop, hardware and mobile wallet, these 3 have different usage, one for long term hodl (HW), payments for regular use (mobile) and short term stack from signature campaign (desktop)

[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.

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.

I only have few coins anyway. And some altcoins that I have been keeping my entire time in crypto, value too small to sell but I kept them.

Anyway, what I think could be a better reason for different wallet is that if someone kidnaps you and they need to see your wallet, I guess you wouldn't really feel like you would die for it. Just give them the logins, it's there's.

[taufik123]

Storing in multiple wallets can increase the security and it is better than storing in one wallet because if anything goes wrong with one wallet like you mistakenly click on a link or attach that wallet to some spam site your funds will be gone and you can't get them back ever.

Therefore, such mistakes can also be managed if we will have multiple wallets from multiple software like one from xodus or electrum etc.

rather than storing in many wallets, but separating the main wallet from the wallet used to connect with many Dapps and becoming a common wallet for receiving coins etc.

If the main wallet of course must be safe and no one should know.
You have to keep it secret and store it with a hardware wallet which will be very much for the main wallet storage.

[vegasus]

Storing in multiple wallets can increase the security and it is better than storing in one wallet because if anything goes wrong with one wallet like you mistakenly click on a link or attach that wallet to some spam site your funds will be gone and you can't get them back ever.

Therefore, such mistakes can also be managed if we will have multiple wallets from multiple software like one from xodus or electrum etc.

Yes, of course, this is to anticipate various bad possibilities. Because if one wallet is hacked or damaged, or lost, then we still have assets in other wallets. However, everything must have its pros and cons. We definitely need more money for that, and need high focus to manage wallets so that everything can remain safe. because currently, the online world is always vulnerable to cyber crimes. and in the real world too. and sometimes, we ourselves are also negligent in securing our crypto assets so that it causes great losses.

[bayu7adi]

I have desktop, hardware and mobile wallet, these 3 have different usage, one for long term hodl (HW), payments for regular use (mobile) and short term stack from signature campaign (desktop)

I see this as a good option, considering my needs are not much different from this... however, when you have a hardware wallet, wouldn't that also make the signature stack more secure?? maybe there haven't been any cases or incidents like hacking experienced, but adding a layer of security from the start I don't think is a bad thing... as long as we have the HW...

[dave_strider]

I have desktop, hardware and mobile wallet, these 3 have different usage, one for long term hodl (HW), payments for regular use (mobile) and short term stack from signature campaign (desktop)

Didn't understand a bit - what do you mean by "short term stack" - you just have a wallet on your desktop as an extension of sorts?

[PX-Z]

I see this as a good option, considering my needs are not much different from this... however, when you have a hardware wallet, wouldn't that also make the signature stack more secure?? maybe there haven't been any cases or incidents like hacking experienced, but adding a layer of security from the start I don't think is a bad thing... as long as we have the HW...

I usually send my desktop wallet funds to my mobile wallet for some regularly and most in my hardware wallet at least once/twice a month. If I receive directly my signature funds to HW, it will be always take time for me to send from HW to my mobile wallet for payment, thus getting compromised while using the HW will be higher.

Didn't understand a bit - what do you mean by "short term stack" - you just have a wallet on your desktop as an extension of sorts?

Stacking funds at least a month. No, I use electrum wallet on desktop, i'm not fan of extension, i don't even usually use metamask too.

[Stuart]

Well, it is being said that it is not advisable to keep all your eggs in one basket, rather, keeping them in multiple baskets will give a room for safety. That being said, it depends on the total value of your crypto portfolio, that's what I'll say. If your total value is above $5,000, then making preparing for storing on hardware wallet will the very best option. If as a small holder, using mobile wallet is quick and faster for transactions.

For me, I use mobile wallet, Trust wallet to be precise, it is easy for me to make use. I'm not a very big crypto holder, so all of my crypto activities are carried out on phone, though, the phone which I use for these several activities is only for crypto activities and nothing else.

[BitMaxz]

In my case, keeping BTC on a cold storage device for an extended period of time should be separated, so I use multiple wallets rather than a single wallet for daily or weekly needs.
My other wallet includes an AirGap device, my phone, and my old phone as a hardware wallet.

Having multiple wallets is always recommended since if your wallet was hacked and all funds are stolen, then you still have your funds on another device, unlike if you put all your funds into 1 wallet. Even if it is cold storage, there are still risks, not online, but how about family members? Do you think you can trust them?

So having multiple wallets can increase the safety of your other funds. For those who are traders, they shouldn't stay only on one exchange, just like what happened before most of the old exchanges ended up hacked and bankrupt that couldn't repay all stolen funds.
So if you don't want to lose all of your crypto, then having multiple exchanges is a good practice, the same as having multiple wallets.

Just make sure you have all backup keys on a safe place.

[Mia Chloe]

Didn't understand a bit - what do you mean by "short term stack" - you just have a wallet on your desktop as an extension of sorts?

Storing on different wallets has its advantages and disadvantages just like storing on a single wallet does too. One thing to take note of is that for the case of storing your coins on different wallets there is an attached disadvantage of difficulty in trying to manage and store different seed phrases and keys at the same time.

But one advantage is that you would face lesser losses if one of them eventually gets hacked or compromised . Nevertheless I prefer storing in fewer wallets offline.