Suppose I hold lot of bitcoins in exchanges and in some wallet. To prevent the loss of bitcoins, how should one manage them?
Generate multiple new addresses. Distribute the bitcoins among these addresses. Copy the private keys of these addresses to paper wallet.
Is this the way to do it?
What are other better ways to manage large number of bitcoins?
Having multiple wallets may be a good idea but it can cause confusion. It actually doesn't matter if you have multiple wallets if you can secure them. Better to make sure that if you are using hardware wallets don't put it in a device that you regularly use like an everyday pc. It's safer if no one can have access to it and it can't be invaded by malwares so better to have a device that you don't connect on the internet and keep it safely in a place that only you can have access to.