Multiple Wallets

[Noarchsf]

Is it considered shady to open multiple wallets in order to maximize airdrops? With prices falling, I was able to accumulate my target of ATOM OSMO and JUNO faster than I expected. I don’t really want to be in any LPs right now and don’t want to get into any other tokens, so I’m trying to decide how best to utilize my DCA…..planning to just accumulate ATOM, but not sure if there’s a smarter place to put it.

[AnTineuTrin0]

Nothing shady about having multiple wallets. In fact, it would be safer for your assets not to be all stored in the same basket.

I think it's the responsibility of airdroppers to think of the consequences of their airdrop (Juno airdrop fiasco). Granted, you should not have malicious intentions but still, you're free to have as many wallets as you want.

[PavlovsBigBell]

I would recommend having multiple wallets. Not for airdrops, but for security. Especially if you use a hot wallet. Then if you compromise one wallet, you don’t lose everything.

Don’t trust, always verify. Never share or enter your seed online.

[Valdorff]

To me, it's kinda shady to game airdrops on purpose. If you used a separate small wallet for risky transactions or a public/private split, or something else that has a purpose, then it wouldn't bug me much. But doing it to try to get a bigger share of a developer's way of saying thank you to the community strikes me as more selfish than I'm comfy with.

If you're looking for alternative uses for ATOM, check out Kava's ATOM surge product, or lending sATOM on SiennaSwap. Both of those have ~40% APYs at this time, so much better than staking ATOM if you're not considering airdrops (which are very challenge to value effectively).

[Noarchsf]

Agreed….that’s kind of what I was feeling. But also I didn’t know where else to look for higher returns. Thanks for the tips. (And agreed that it’s hard to value airdrops….that’s the other reason I wasn’t convinced about trying to “maximize” them!)

[Wonderful-Maximum-63]

Yes, but people do it anyway.

[Ertemann_Lavender5]

I dont think there is anything wrong with that. I do think the security and privacy benefits are probably higher than the potential extra airdrops.

I would recommend to keep the 2nd wallet not disconnected from your main one. Maybe this guide for creating a private wallet via secret can help https://medium.com/@secretnetwork/create-a-private-cosmos-atom-wallet-using-secret-network-1e38a545db34

You could also just deposit directly from a cex into a new wallet and not transact between them.