<p>Yes, there is no limit on setting up multiple wallets. The main disadvantage is that you will need to keep track of numerous separate sets of funds. While it has advantages not to put all your eggs in a single basket, you may want to focus on just a few separate storage solutions for each of which you invest some more time to set up securely.</p>

CC BY-SA 4.0
2021-02-19T23:12:48.230Z
2021-02-19T23:12:48.230Z
Murch
<p>new to crypto, from what I can tell so far, the pass phrase is equivalent to knowing the private key. If this assumption is true -</p>
<p>In theory and for example, what are the pros and cons creating a new pass phrase/private key for each new $1,000 invested/earned, if possible ? (In the best case, this happens infinitely).</p>

<wallet><private-key><passphrase><risk-mitigation>
It it posible, pros and cons using multiple pass phrases on same blockchain?
P.S.
# It it posible, pros and cons using multiple pass phrases on same blockchain?

(Asked by: username_0 on 2021-02-19)

new to crypto, from what I can tell so far, the pass phrase is equivalent to knowing the private key. If this assumption is true -

In theory and for example, what are the pros and cons creating a new pass phrase/private key for each new $1,000 invested/earned, if possible ? (In the best case, this happens infinitely).

**Tags:** wallet, private-key, passphrase, risk-mitigation


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## 1 answers

### Answer by username_1 on 2021-02-19. Score: 1 | Accepted answer

Yes, there is no limit on setting up multiple wallets. The main disadvantage is that you will need to keep track of numerous separate sets of funds. While it has advantages not to put all your eggs in a single basket, you may want to focus on just a few separate storage solutions for each of which you invest some more time to set up securely.


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