How Many {Hardware} Wallets Ought to You Have? 11 Causes to Personal Extra Than One | by Henry Windle | Apr, 2025

Motive #1: Have an additional backup for peace of thoughts

“I purchased 2 with my preliminary order. Set one up to make use of and put the opposite one in locked storage. I wished backup plan in case of whole failure and one other {hardware} pockets promote out.

After all it will partially depend upon the worth of the belongings you need to defend.” – Trezor Reddit Person

That is the commonest cause to get a second {hardware} pockets: peace of thoughts.

Think about this…

• Your system is broken
• Your system is misplaced
• Your system is stolen

It could possibly be as sudden as your pet consuming your system (surprisingly, this has occurred a number of occasions with canine.)

Or as dramatic as a misplaced or stolen system.

Consider this system as your emergency backup.

With this backup system, you might be able to entry and safe your funds instantly. There is no such thing as a must waste time ordering a brand new {hardware} pockets. Simply enter your PIN and/or passphrase, and you'll instantly entry your funds to safe or transfer them.

To be clear, on this case, you're cloning your authentic {hardware} system by restoring the identical pockets. They'll often be stored in several areas.

Motive #2: For gifting

Two issues occur after you get into crypto…

1. You purchase a {hardware} pockets
2. You inform everybody about how crypto modifications the world!

It’s okay, the second you get into crypto, you'll be able to’t cease speaking about it. We’ve all been there.

Gifting a {hardware} pockets is a good way to assist family and friends begin their self-custody journey with out leaving their belongings on an trade.
You might be there to reply any questions.

Like this Trezor Mannequin T consumer:

“I Purchased This Crypto Pockets as a Reward Throughout Prime Days and Scored a Nice Deal! The recipient has shared that it’s simple to make use of and successfully does the job, which is all I might ask for. So, I assume it’s a strong 5 stars from me.”

And when you’re giving a {hardware} pockets to somebody who would possibly need assistance getting began?

Consider gifting them an onboarding session with one of our Trezor Experts!

Motive #3: For Bitcoin-only

“You solely wanna commerce BTC -> BTC solely firmware. In any other case, no want. Besides you probably have tons of BTC/crypto, then contemplate getting a number of {hardware} wallets.” — Trezor Reddit Remark

We promote Bitcoin-only {hardware} wallets for Trezor Safe 3 & Trezor Safe 5 for a cause.

It’s not unusual to need one system for Bitcoin and one system for different crypto.

Some customers favor to separate Bitcoin from different cryptocurrencies for simplicity and safety. If Bitcoin makes up most of your crypto, this is likely to be you.

Thinking about our Bitcoin-only units? You possibly can verify them out by clicking here.

Motive #4: For buying and selling

If you happen to’re actively buying and selling but additionally HODLing Bitcoin and altcoins, preserving separate units is smart.

• One pockets for buying and selling — related and continuously used for transactions.

• One pockets for long-term storage — not often touched, securely saved.

If you happen to’re HODLing for the long run, you don’t need to spend an excessive amount of time fiddling along with your {hardware} pockets past the required updates.

Having one system you solely use for buying and selling and one other securely hidden away is far simpler and safer, as you’ll need your buying and selling pockets handy very often.

Motive #5: To remain diversified

“My thought was it made sense to not put all my eggs in a single basket.” — Trezor Discussion board Remark

You wouldn’t maintain all of your cash in a single checking account, so why retailer all of your crypto in a single pockets?

• A number of wallets imply you'll be able to break up funds throughout units, decreasing threat in case of theft, loss, or injury.

• It's also possible to use a passphrase (superior function) to create a number of wallets on one system.

You possibly can be taught extra about passphrases right here:

Motive #6: For inheritance

This isn’t a enjoyable query, however it's mandatory.

Everybody who owns crypto should contemplate this sooner or later of their life: If one thing occurs to you, can your loved ones entry your crypto?

Do they know the place your {hardware} pockets is and methods to entry your funds in an emergency?

Giving a {hardware} system to a trusted member of the family or executor just isn't unusual, and it’s often a part of a multisig setup.

If this pursuits you, additionally contemplate trying into Trezor’s Multi-share Backup.

Motive #7: For enterprise

That is changing into extra frequent because the crypto economic system turns into bigger.
Right here at Trezor, we maintain crypto as a enterprise, so having a number of units and layers of safety to separate enterprise and private funds is smart.

If you happen to settle for crypto funds or maintain crypto as an organization, a devoted enterprise {hardware} pockets ensures:

• Clear separation of funds
• Simpler accounting & safety

If you happen to personal a enterprise and need to handle crypto, getting a second {hardware} pockets is critical to handle the funds and be clear.

Motive #8: For journey

Would you're feeling snug carrying your fundamental {hardware} pockets whereas touring?

A secondary journey pockets can maintain restricted funds whereas your fundamental belongings keep safe at dwelling.

Professional tip: Use a passphrase to create a separate pockets for journey inside your system.

Motive #9: For enjoyable!

Some folks gather trainers. Others gather {hardware} wallets.

Hardcore crypto customers love upgrading to the most recent, most safe {hardware} pockets tech.

However having a number of wallets isn’t simply enjoyable, it ensures you’re at all times utilizing the most effective {hardware} to guard your belongings.

Given how a lot {hardware} wallets are sometimes defending, the funding is commonly seen as affordable.

Motive #10: For instructing

Bitcoin adoption grows by means of schooling.

If you happen to educate associates, host meetups, or run workshops, having a devoted {hardware} pockets for demos makes studying simpler.

At Trezor Academy, we use {hardware} wallets for in-person schooling and to assist folks be taught self-custody the fitting means.

If you happen to’re concerned in related occasions, it is likely to be value getting a spare system!

Motive #11: For multisig safety (superior)

Want instantaneous entry to your funds? Multisig most likely isn’t for you.

Need additional layers of safety and don’t thoughts the complexity? Multisig could possibly be a fantastic possibility!

Multisig (multi-signature) is a extremely safe technique to retailer crypto, eliminating the danger of a single level of failure.

As a substitute of counting on only one pockets, a number of keys (often a number of units) are required to authorize transactions. This reduces the danger of dropping entry resulting from a misplaced or stolen backup.
Some customers select multisig to distribute signing throughout a number of areas and even to make it tougher to entry their very own funds, resembling requiring bodily journey to retrieve signing units.

Warning: Multisig just isn't beginner-friendly. If arrange incorrectly, you would completely lose entry to your funds. Proceed with warning!