Do trade platforms show us just numbers or real coins?

in #cryptocurrancy • 8 years ago (edited)

When we buy steem on Bittrex for example. And we use wallet that provided by platform.

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8 years ago in #cryptocurrancy by
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     8 years ago (edited) 

    When you transfer any cryptocurrency to an exchange they will store it in their own wallet and you get a claim on that currency. So actually you are trading claims on the trade platform (and the trade platfrom keeps track of these claims).

    Also most exchanges store a lot of their coins in cold storage for safe keeping (a wallet not accessible through the internet).