Although Litecoin founder Charlie Lee warned Litecoin Cash and even called the cryptocurrency a scam, 1 Litecoin Cash is currently trading for $ 5. Anyone who owned Litecoin at the time of the snapshot and has the Private Keys on it can now get their Litecoin Cash. We’ll tell you how.
During the night from Sunday to Monday, the snapshot was taken by Litecoin with block 1371111. From this block, Litecoin Cash was born. Anyone who has owned Litecoin at this time can, therefore, get 10 Litecoin cash for each Litecoin as Litecoin Cash has 10 times as many tokens.
The price is currently around the US $ 5 for a Litecoin Cash. Considering that investors have gotten 10 Litecoin cash for each Litecoin, that’s almost $ 50 free per Litecoin. Of course, this consideration ignores the fact that the price of Litecoin has risen sharply due to the Hard Fork in advance.
With more than 550 million Litecoin cash, that would mean the cryptocurrency is worth nearly $ 3 billion. Not bad for a currency in the run-up as a scam (I do not take me out) was called. However, at present, there is only a trading volume of just over $ 1 million a day. For comparison, Litecoin’s trading volume is $ 1 billion. The long-term benefits of Litecoin Cash remain questionable. Because the cryptocurrency has just another mining algorithm (SHA256, just like Bitcoin) as Litecoin and changes the mining difficulty after each block. Taken together, now is not a real revolution. Litecoin Cash benefits above all from the familiar name and its role models (Litecoin and Bitcoin Cash).
Anyone who wants to claim his Litecoin Cash must have had the Private Keys to his Litecoins at the time of the snapshot. So it’s not if you had the Litecoins only on an Exchange, except the Exchange will give you later your Litecoin Cash, but this has not yet announced any of the big Exchanges. If you have noted the Private Keys, you can send your Litecoin to another address. This will give you new private keys for the Litecoins. You can then safely import the old private keys into the Litecoin Cash Wallet. Because even if it’s a scam, the creators of Litecoin Cash will not come to your original Litecoin anymore.
Litecoin Cash Wallet – Import Private Keys
I would not buy new Litecoin cash. It remains questionable whether Litecoin Cash can hold a valuation of 3 billion US dollars if the trading volume increases.