Bittrex exchange

Cryptocurrency Forum - Oct 5th 2017

  1. gavmariner

    gavmariner

    Joined:
    Oct 2017
    From:
    Uk
    I’ve read a lot of bad reviews about holding coins in here and how it’s open to hackers, any good experience from other users on here?


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  2. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    Exchanges are one of the least secure platforms for storing coins. A good rule of thumb is to only use exchanges when you are ready to actually exchange. The rest of the time it's wise to keep your coins in non exchange wallets like a hardware wallet, a paper wallet, or possibly a hosted wallet that has a good track record for security. Additionally, many of the people who lose coins from exchanges make poor security choices on their end, like sharing too much personal information about their crypto habits on social media or not setting up two factor authentication on the exchange(s) they use. Personal security and common sense are priceless standards in the crypto world.
     
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  3. gavmariner

    gavmariner

    Joined:
    Oct 2017
    From:
    Uk
    Thanks for the reply, I’m just starting out with crypto so still learning, how or what would I do to create a paper/hardware wallet as I will not be leaving coins in an exchange once I’ve used?


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  4. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    It totally depends on what coins you want to invest in. Some coins are more difficult to store than others due to limited wallet options. If you're just starting out I would say you should maybe stick with just a few coins that have a lot of wallet options like Bitcoin, Ethereum, Litecoin, Ripple, etc. Most of the bigger coins have paper wallet solutions but if you want a kind of all-in-one solution you can check out the Ledger Nano S hardware wallet. It will support multiple coins and a lot of people seem to like it (https://www.ledgerwallet.com/products/ledger-nano-s).
     

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