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Author Topic: Storing BTC in one wallet or multiple wallets? Your opinion  (Read 3252 times)

Offline Z-tight

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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #60 on: February 01, 2025, 11:28:43 PM »
I believe every bitcoiner should have at least two wallets, one cold storage wallet and an online wallet for spending on the go, however you can have as many online wallets as possible, as long as you keep a very small amount of funds in them, while your cold storage holds the main stuff. Take note that the wallets should be open source and also self custodial.

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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #60 on: February 01, 2025, 11:28:43 PM »

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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #61 on: February 02, 2025, 01:25:53 AM »
Bitcoiners should operate more than 1 wallet by storing small amount of funds across wallets it's good advice. They shouldn't put btc in 1 wallet because they'll risk losing every thing if they're hacked. 

I believe every bitcoiner should have at least two wallets, one cold storage wallet and an online wallet for spending on the go, however you can have as many online wallets as possible, as long as you keep a very small amount of funds in them, while your cold storage holds the main stuff. Take note that the wallets should be open source and also self custodial.
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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #61 on: February 02, 2025, 01:25:53 AM »

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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #62 on: February 02, 2025, 03:56:43 AM »
Bitcoiners should operate more than 1 wallet by storing small amount of funds across wallets it's good advice. They shouldn't put btc in 1 wallet because they'll risk losing every thing if they're hacked. 

I believe every bitcoiner should have at least two wallets, one cold storage wallet and an online wallet for spending on the go, however you can have as many online wallets as possible, as long as you keep a very small amount of funds in them, while your cold storage holds the main stuff. Take note that the wallets should be open source and also self custodial.
Just as you can't keep all fruits in a basket, you can't keep all cryptocurrencies in a wallet. If all Bitcoins are stored in a wallet, then of course if the wallet is damaged for any reason, all Bitcoins will be lost forever. In this case, it would definitely be a good idea or a risk-free thing to do, taking precautions and holding Bitcoin in multiple wallets.
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Offline Z-tight

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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #63 on: February 02, 2025, 03:24:09 PM »
Bitcoiners should operate more than 1 wallet by storing small amount of funds across wallets it's good advice. They shouldn't put btc in 1 wallet because they'll risk losing every thing if they're hacked. 
Having multiple wallets does not mean one is safe, it only gives a false sense of security, especially when all wallets are installed in one device. Like i said, it is important to have a cold storage wallet, this is where majority of your funds will be stored, offline. However, you can have as many online wallets as possible, only if you keep insignificant amount of funds in them.

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Re: Storing BTC in one wallet or multiple wallets? Your opinion
« Reply #64 on: February 07, 2025, 12:54:33 PM »
well for safety purposes, it is more better to have two separate wallets, as nobody can tell what will happen, but I think having two wallets can spread the risk of security breaches on just having one wallet especially people that uses software wallets for everything.
Wallet safety is essential, as Cryptocurrency are high value target for hackers. A hard ware wallet can be used if you have huge amounts of crypto assets, but a small amounts of crypto assets may require a software wallets for easy transactions.

 

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