Litecoin Price Reaches $156.69 on Exchanges (CRYPTO:LTC)

Litecoin price sees sharp increase on Wednesday morning

Litecoin price sees sharp increase on Wednesday morning

The promise of a new payment system and potential fork has the price of Litecoin soaring.

It's a beneficial situation for both vendors and customers, as the new system will provide an alternate revenue stream secured by the blockchain and the payment processing software for the former, and greater opportunity of choice in terms of cryptocoin liquidity for the latter.

One of the worries with cryptocurrencies these days and the number one reason why regulation is needed is that anyone can launch their own digital coin and scam people out of money.

Given that Bitcoin Cash can not compete with Litecoin in terms of transactions and payments, all signs seem to be pointing towards Litecoin Cash being useless to the point of redundancy upon arrival.

Viacoin (VIA) traded 10.3% higher against the dollar and now trades at $3.11 or 0.00035001 BTC.

A fork occurs when a blockchain-the distributed ledger that keeps track of all transactions of a cryptocurrency-diverges.

Lee took to Twitter to call the fork a "scam" meant to confuse litecoin owners. However, Charlie Lee and the Litecoin team warn that it has nothing to do with them. According to CNBC, officials are widely expected to take a toned down approach to regulation changes, which is similar to the stance that USA officials have hinted at taking. Don't fall for it and definitely don't enter your private keys or seed into their website or client! Be careful out there! "Any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO".

The biggest argument against cryptocurrencies forking to hold onto their original features is one of evolution - that those which are most responsive to change are more likely to come out on top.

Lee considers it unsafe and warns to stay away from Litecoin Cash right now.

There is a catch though!

But you should handle Litecoin Cash with enormous care. Obviously, this is very risky and you should not attempt it. One Litecoin coin can now be bought for approximately $156.69 or 0.01835280 BTC on exchanges including CoinFalcon, BitBay, Allcoin and BITHOLIC. The recovery also indicates that the markets have digested a negative flow of news from China and South Korea, and given that bitcoin is now looking at a break above $ 10,000, the broad-based recovery could only intensify the pull. Therefore, for staying safe in the crypto market, you should be always well informed about the real or fake forks before you make your moves.