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What is the point of having multiples of any wallet? Which wallet would be less effective on its own? Don't they all produce a sufficient (indefinite?) number o
by BlackDeath3 13y ago
What is the point of having multiples of any wallet? Which wallet would be less effective on its own? Don't they all produce a sufficient (indefinite?) number of pseudorandom addresses?
- modeless 13y agoYou might want multiple wallets for security reasons. For example, you could have one wallet on your phone for everyday transactions, and a separate wallet on a computer that's normally disconnected from the internet (a "cold wallet"). You can also store bitcoin wallets on USB keys or even on paper and put them in safe deposit boxes. https://en.bitcoin.it/wiki/Cold_storage https://en.bitcoin.it/wiki/Cold_storage Since all Coinbase wallets are the same in terms of security properties, there's no reason for an individual to have more than one Coinbase wallet.
- BlackDeath3 13y agoHaving hot wallets and cold wallets separated does make a lot of sense.