Post
Topic
Board Exchanges
Re: IS IT SAFE TO STORE BITCOINS AND OTHER COINS ON MY BITTREX ACCOUNT?
by
magneto
on 21/09/2017, 09:27:50 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.


It is not safe. However sometimes the convenience is just worth it for hte risk especially if you are storing a coin that has no official lite wallet and you'd have to run a full node on your computer to access your balance(which is a hassle).

In that case, and if your balance is low, then sure, go ahead and store your coin on bittrex or other exchanges if you trust the exchange enough and is able to take the risk.

But if you are storing bitcoin, ethereum, litecoin, all the major coins which already have light wallets, then no it's not worth the risk.