Having multiple bitcoin wallets

Run multiple wallets on the same system

Setup:

• 10 clients.
• Each client has his own wallet on my secured system.
• An API service manages these wallets.

Leading Questions:

• Each wallet should run as a separate process of «bitcoind»?
• If so, each «bitcoind» can use the same blockchain files?
• There is a best practice of running multiple wallets on the same system?

1 Answer 1

Using multiple wallets on one «bitcoind» process

Follow this steps:

1. Run the bitcoind process.
2. Create a wallet for each of the clients using:

1. When you want to perform any action on any wallet simply use:

1. Use «» for in order to refer to the default wallet, created by the bitcoind.

Not the answer you’re looking for? Browse other questions tagged bitcoind or ask your own question.

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Using multiple wallet files with bitcoind #3113

Comments

ISibboI commented Oct 19, 2013

It should be possible to make bitcoind use multiple different wallet files without having to restart, so that public and private eWallet services don’t have to put everything into one big bucket. Especially for private eWallets, that’d be useful, because you can easily seperate which coins belong to which person without having to use a DB or something like that.

The text was updated successfully, but these errors were encountered:

laanwj commented Oct 19, 2013

There are some pull requests that implemented multi-wallet support, but they never made it because more work is needed. If you (or someone else) feel like picking this up, see:

• #2124 Dynamically Loadable Multiple Wallet Support Complete.
• #2407 Added CWalletManager class to support loading of multiple wallets.

super3 commented Oct 21, 2013

If you are looking for this functionality, Bitcoin Armory has already implemented multiple wallets.

o-jasper commented Feb 18, 2014

I second bitcoind and bitcoin-qt should support this. While at it, I suggest creation a few random inaccessible ones, which can be replaced with accesible ones. For plausible deniability that those wallets are actual ones in case of threat. (edit: maybe passwords should automatically try all the coin, so people cant whine about forgetting which wallet had which password..)

int03h commented Feb 19, 2014

Bitcoin «the project» should be the blockchain. Wallets and all sorts of other stuff should be something else. I am fully aware that at the moment they are mashed together. They shouldn’t be. IMHO. —disable-wallet should be the default.

laanwj commented Feb 19, 2014

@o-jasper The reference client cannot be everything to everyone; if you need specific tools, use the appropriate tool for the job. Mashing together everything only results in an unmaintanable project.

o-jasper commented Feb 20, 2014

@ laanwj: I like that you try to modularize the project, but maybe people should be disuaded from using reference implementations as actual-use ones a bit?

At this point it probably doesnt hold back bitcoin at all. But for instance if there was some awesome transaction, like ‘kickstarter’. Which people were trying to popularize, it would be shame if the clients people use didnt support it. In such case, a list of scripts to recommend support for migh be a good idea.

Dont think the current scripting allows for something like kickstarter though. I do kindah hold that against some of the altcoins a bit, not at all innovating on transactions.(excepting ethereum, of course! but altcoins wouldnt have to go that far) The starting altcoins dont need to deal with a live blockchain, so they dont have much excuse..

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Why To Have Multiple Bitcoin Wallets & How Many?

Many people often ask, ‘how many hardware wallets or Bitcoin wallets do I need to have’?

The answer is simple.

You should have many. Diversification in terms of storage of cryptocurrencies is vital. You cannot rely on one wallet. Your one wallet can be the unlucky one to get destroyed or be lost.

And in such a case, your other wallet can be helpful for you to recover your crypto funds.

But if you cannot have many wallets, then you should have atleast two wallets to store your cryptocurrencies safely. In this guide, I am going implore you to have a second or even maybe a third wallet with logical reasoning.

This is for your safety, so make sure to read it till the end.

Can You Have Two Or Multiple Bitcoin Wallets?

#1. Back-up & Restore Purposes

It is good to have 2 or more hardware wallets for back-up & restore purposes.

I know you are a smart guy who has already taken the back-up of your seed for a rainy day. One day that rainy day comes and due to some reason your one hardware wallet is damaged or lost.

You are in a hurry to use your coins so you go-to the play store and restore your crypto wallet using a crypto app you found in the store.

Alas, you got to know that all of your funds are no lost as it wasn’t a reliable wallet, and haste you used the wrong one. For such emergencies, it is wise to restore your crypto wallet only on a hardware device like Ledger Nano X or Ledger Nano S. That’s why it is imperative to have 2 or more hardware devices like this !!

If you do this one simple thing, you will be able to secure your cryptocurrencies including Bitcoin for the long term.

#2. Clone Of Your Wallet

This is another reason to have 2 or more hardware wallets.

Cloning is an easy way to secure your cryptocurrencies. It simply means having the same wallet with the same seed in two different places.

For example, you have set up one hardware wallet. Let say, Ledger Nano X. You keep this wallet at home and make transactions from it often.

Another wallet, you have at your workplace. This is Ledger Nano S, but you have the clone of Ledger Nano X wallet on this wallet. So now, you can access the same funds from the office too.

Wondering !! How to make a clone of your wallet?

To make a clone, you need to use the same seed words in both wallets. In the above example, if you use the same seed of Nano X in Nano S, you get a clone allowing you to access the same funds from either of these wallets.

Isn’t it amazing !!

I too have three clone wallets for my crypto assets and these clones also by default serve as a backup for your funds. That’s why it is good to buy the discounted Ledger Nano’s Dual Pack.

#3. For Diversification Of Storage Risk

Some extra cautious people even buy multiple hardware wallets for various currencies despite the fact; one hardware wallet can store many coins at a time.

But this a good practice in terms of diversification of storage risk.

The way to diversify is by storing Bitcoin in one wallet, Ethereum & Litecoin in another hardware wallet and other altcoins in the 3rd hardware wallet.

Moreover, it is a smart thing to do because over-reliance on one wallet or one seed is too much risk for your cryptofolio. Image, if you lose one wallet or the seed of one wallet, you will still not lose all of your coins.

#4. For Creating Awareness & Education

It is 2019, and yet many people don’t use hardware wallets.

Hardware wallets are the basic building blocks for securing your cryptocurrencies. Not using a hardware wallet, it’s like ignoring the best practices of an industry.

Satoshi invented Bitcoin to make us our own bank. But if we ignore personal safety and education, how could be become our own bank.

That’s if you are someone who knows how to use hardware wallets, then you should volunteer to teach others about it. Create awareness about hardware wallets and make people understand why they shouldn’t store their crypto on exchanges or unreliable software wallets.

Some More FAQs On- How Many Crypto Hardware Wallets Can I (You) Have or You Need?

• Can You Have Duplicate Bitcoin Wallets?

Yes, you can have as many duplicate Bitcoin hardware wallets as you want. This is same as having many clones of the same wallet which I have explained in point #2.

• How Many Bitcoin Wallets Are possible?

An unlimited number of Bitcoin wallets are possible.

• How Many Bitcoins Can A Hardware Wallet Hold?

There is no limit to it. A hardware wallet can store an unlimited number of bitcoins on it and even can store the whole 21 million coin supply.

• Which Wallet Should You Buy For Having Reliable Multiple Bitcoin Wallets?

You should buy Ledger Nano X as your primary wallet and Ledger Nano S as your secondary wallet. Having these two would sufficiently serve your purpose of having multiple wallets as well as you will have atleast two back-ups.

Why Own 2 or More Hardware Wallets?

Now, I believe, you must have understood how many Bitcoin wallets one should have? And which wallets are reliable for this cause.

I am one of those cautious people who believe in multiple wallets and multiple backups. I have many wallets and many reserves in many places.

This gives me peace of mind, but you need to be smart at managing all those back-ups. So, if you don’t want to complicate things, you should have two hardware wallets.

So that’s all from my side in this guide. Now you tell us in the comments below, what do you feel about having multiple back-ups. Do you have multiple back-ups? Tell us in the comments !!

Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.

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7 Best Multi Cryptocurrency Wallets (2021)

The world of cryptocurrencies is constantly expanding, bringing in more users every day, thereby making the crypto space more interesting than ever.

People around the world are diversifying their portfolio in this new asset class, resulting in new altcoins seeing the light of day every now and then.

Name Of Wallet	Types Of Wallet	Ratings
Ledger Nano X (Recommended)	Hardware Wallet	5/5
Trust Wallet	Mobile Wallet	5/5
SafePal app	Mobile	4.8/5
Atomic Wallet	Desktop Wallet	4.5/5
Trezor	Hardware Wallet	4.5/5
Guarda	Mobile Wallet	4/5

With the increase in the number of coins, the need for good wallets to store the crypto coins safely is also at an all-time high. Most investors prefer to store their crypto assets in one place to make life easier, and that is why many muti-cryptocurrency wallets are being developed.

But the question is, which multi cryptocurrency wallet should one pick? Which is the most reliable?

With these questions in mind, I decided to list some of the best multi-cryptocurrency wallets available in the market that investors can use to store multiple cryptocurrencies.

5 Best Multi-Cryptocurrency Wallets

1. Trust Wallet (Mobile)

Trust wallet is the best multi cryptocurrency wallet in 2021, that supports multiple blockchain. At the time of writing, they support Bitcoin, Ethereum, Binance Smart Chain, Tron, Polkadot blockchain.

Trust wallet has many features which makes it #1 multi crypto-currency wallet. Some of the features are:

• DApps browser (Only available on Android, iOS users can use Wallet connect feature to connect to any DApp)
• Buy Crypto with card
• Non-Custodial wallet
• Trading feature available via Binance DEX
• Quick Swap feature
• Crypto staking
• WalletConnect feature

Apart from all these features, you can create multiple wallets to manage different portfolio. The app is being constantly updated with additional features, and it is one of the most popular wallet on the planet as of 2021. The wallet is available for iOS and Android.

2. Safepal Wallet App

Safepal is the fastest growing mobile wallet app which anyone would like to use as their multi-crypto wallet. You can have multiple portfolio wallets, one for investing, the other for trading, and so on.

Safepal tightly integrates with Binance DEX, and let you trade cryptocurrencies or swap cryptocurrencies without needing any KYC. This feature alone is making Safepal an ideal choice for a crypto mobile app.

If you don’t know, Safepal is a popular hardware wallet, and their mobile app can be used with or without Safepal hardware wallet. The wallet has an in-built DApp browser, and you can import your existing wallet or create a new wallet using Safepal wallet.

The interface is refreshing, and once you get the hang of Safepal app, you may not use any other crypto wallet ever. The team is pro-active, and they are constantly adding new features.

3. Exodus [Desktop Wallet]

Exodus is a very popular multi-currency wallet to manage your blockchain assets.

It is is a free to use, desktop-only HD wallet, crafted by JP Richardson and Daniel Castagnoli in mid-2015. Here is their motivation to do so:

The wallet design is stylish and the user interface is rather intuitive. So much so, that one actually appreciates the effort put in by the Exodus team in developing the UX/UI of the wallet.

The good thing is, despite the stylish design, there is no compromise on user security. It still follows the top-notch security standards of the crypto world.

At present, it supports more than 100+ cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Golem, and Augur etc and there is no sign of them stopping. Support for more cryptocurrencies on Exodus is planned for the future.

However, remember it is a desktop-only wallet and you require no registration or KYC for using this wallet. Of course, you certainly need to take a backup of your seed key that Exodus provides you while setting-up Exodus for the first time.

Update: Exodus now supports close to 100 cryptocurrencies! They also have multiple exchange partners (not just ShapeShift), which means we can offer more exchangeable assets. Sourcing liquidity from various partners has made exchanging in Exodus faster and more reliable.

They also do not require a personal email – this is an option for those who wish to receive the email backup link. Any email address can be used – or none at all! The email is only used once to send the backup link. Privacy is very important to Exodus and they do not store any customer personal data – not even the email address.

Exodus users can also send funds to and receive funds from smart contracts.

• Supported Operating System: Mac, Linux, and Windows.
• In-built Exchange: ShapeShift integrated
• Private Keys: Controlled by owner
• Cost: Free to use
• Segwit Enabled: No

4. Coinomi [Multi OS Wallet]

Coinomi is the brainchild of a competent team based out of London, UK, and has been on the market ever since 2015. It is also widely respected in the crypto wallet community.

Moreover, by repeatedly supporting Bitcoin forks such as Bitcoin Cash, Bitcoin Gold etc., Coinomi has proved that their development team is highly dedicated.

Coinomi is a multi-currency HD wallet which provides you with a 12-word backup seed key which is to be written down and kept safe. In case you damage or lose your device, this backup seed key will enable you to recover your cryptocurrencies.

The magic of HD wallets is that with this seed you can manage and securely store more than 50 cryptocurrencies and 200 Ethereum tokens on the Coinomi wallet.

But in the past, Coinomi has had its fair share of controversies, particularly when they exposed users’ Bitcoin addresses in plain text. However, that doesn’t mean that they are not safe – it’s just one of those things to be expected as a market-leading, mature wallet.

• Supported Operating System: Android & iOS
• In-built Exchange: ShapeShift & Changelly integrated
• Private Keys: Controlled by owner
• Cost: Free to use
• Segwit Enabled: Yes

5. Ledger Nano S [Hardware Wallet]

Ledger Nano S is a very popular HD wallet crafted with love in France, a European country well-known for its art and design aesthetics.

Similarly, their product, the Ledger Nano S, which is also a multi-currency hardware wallet, is a very sleek flash drive-like device. It also comes with an OLED screen for easy handling and two side buttons for confirming transactions, which sometimes makes it looks like an advanced flash drive.

This wallet can be used even on an infected computer to make transactions. Plus, you get the freedom to store 48 cryptocurrencies, Binance coin, and thousands of ERC20 tokens in a single wallet.

• Supported Operating System: Windows, Mac, Linux, Android, iOS
• In-built Exchange: Yes
• Private Keys: Controlled by owner
• Cost: $100
• Segwit Enabled: Yes

Note: Securely note down and store your 24-word recovery phrase that Ledger Nano S spits at the time of set-up. If you lose this, all you cryptocurrencies will be lost forever.

Watch this video series by Coinsutra’s YouTube channel to learn everything that you need to know about Ledger Nano S.

6. Trezor [Hardware Wallet]

Trezor was the first cryptocurrency wallet ever developed.

It is manufactured by SatoshiLabs, a Czech Republic-based company operating since 2013.

Just like the Ledger Nano S and Ledger Nano X, it is also a small flash drive-like device with an OLED screen that connects to the phone or PC via a USB which you can also use to sign cryptocurrency transactions in an offline environment

However, the initial setup is different compared to the Ledger Nano.

With Trezor, when you first connect it to your PC, it shows a nine-digit pin code on its OLED screen. You need to enter the same pin code by clicking on your corresponding PC screen. This code is generated randomly every time you connect Trezor, which enhances safety.

After entering the pin, you will be asked to write your 24-word recovery seed. Again, you need to keep your recovery key safe because this is the only way you will be able to restore your bitcoins.

Once the steps above are performed, using it is pretty similar to the Ledger Nano S.

Trezor now supports more than 10 cryptocurrencies and thousands of ERC20 tokens and is available in white, gray, and black color options. Read: Which Cryptocoins Does Trezor Hardware Wallet Support?

• Supported Operating System: Windows, Mac, Linux
• In-built Exchange: No
• Private Keys: Controlled by owner
• Cost: $110-$120
• Segwit Enabled: Yes

Watch this video series by Coinsutra’s YouTube channel to learn everything that you need to know about Trezor.

Note: Trezor’s new model Trezor-t is also out and available on pre-bookings.

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