Post
Topic
Board Exchanges
Re: IS IT SAFE TO STORE BITCOINS AND OTHER COINS ON MY BITTREX ACCOUNT?
by
Mi5h0
on 18/09/2017, 18:54:43 UTC
I just started trading crypto currency. This is my first time to trade. What I did is just a self study. I read everything about crypto and trading and watch videos on youtube. Some did not makes sense Smiley One question in my mind is , is it safe to just store my bitcoins and other coins that I bought on BITTREX? I have a blockchain account but the fee when sending and requesting withdrawal is quiet high. So I decided to just store it on bittrex. For the other crypto currency, I only have ETH Wallet.

Thanks for the help.


If you're not actively trading your coins on the BitTrex you should move them into a wallet/wallets to which you hold the private keys. Your exchange balance is essentially just a promise by BitTrex to give your coins to you, when you ask. They might steal them, lose them due to bad security, have a government order them to seize the coins, make bad business decisions and go bankrupt, etc. So evaluate the risks and decide for yourself.