In the cryptocurrency world a hard fork is happening almost on a weekly basis.
Due to the increasing rise of hard forks it is not possible for LiteBit to add all these new cryptocurrencies, because of multiple reasons:
- Software of new cryptocurrency is not mature enough
- Developers behind cryptocurrency has not the right intent (pre-mining a large percentage before releasing the software for example)
- No replay protection (transactions can be resent)
- Market too small to trade
In many cases the moment a hard fork occurs it is not sure what the situation will be due the reasons stated above.
As such LiteBit cannot give a statement about participation of the hard fork beforehand.
LiteBit will always try to give the customer the created extra value as result of a hard fork.
Own your own private key
Due to all the reasons state above LiteBit recommends to store the cryptocurrencies on your own wallet for which you own your private key.