This article was first published on: CoinSutra – Bitcoin Community --
This time it was the turn of Litecoin to fork and it has successfully forked from Litecoin’s original blockchain.
The fork happened on 18th Feb 2018 at the Litecoin block height of 1371111, which is why anyone holding Litecoin at block 1371111 will have 10x as much Litecoin Cash (aka LCC), provided they have their seed/private keys with them.
It is a friendly fork and has replay protection in place so you need not worry about using your actual LTC coins.
Read the full LCC story here:
Also, $5.5 per coins is quite decent for free money because the fork ratio is 1:10 which means for every 1 LTC you will get 10 LCC.
And last but not least, we have always advised on CoinSutra to keep your cryptocurrencies in your control where you own and have access to the private/seed keys.
Step By Step Guide To Claim Your Free Litecoin Cash (LCC)
Now that we are on the same page, let’s see how to claim and access our FREE LCC using the Coinomi Wallet.
First Things First – Update/Install Wallet
We are going to recover LCC from the Coinomi Android wallet.
- If you already have Coinomi, please update your Coinomi wallet to the latest version. Open your Play Store app, click on the top left menu, select “My apps & games”, and then click on the “Update” button next to “Coinomi Wallet”.
- If you don’t have Coinomi, please install the latest version from here on your Android device.
Once your device is ready, follow these steps:
#1. Access your LTC wallet where you had your LTC at the time of the fork. Wallets like Jaxx, Mycelium, Ledger, Blockchain.info, Exodus, or any other wallet that supports BIP44 type key generation. Do a simple Google search to check if your BTC wallet is BIP44 supported.
#2. Now from these wallets, take your seed words out. Seed words (or recovery phrases) are the 12, 18, or 24-word long phrases that you backed up while setting up your wallet.
#3. Now use your Coinomi wallet along with these seed words/keys for restoring your LTC wallet on Coinomi.
#4. Once your LTC wallet has been restored on Coinomi using these seed keys, you will be able to see the LTC balance that you had at the time of the fork.
#5. Now in your Coinomi wallet, click on the top left menu, hit the “+ COINS” button and select “Litecoin Cash” from the mind-blowing list of Coinomi’s 86 supported coins and 214 tokens.
#6. A pop-up dialogue will appear asking if Litecoin Cash (LCC) should be added. Hit the“ADVANCED SETTINGS” button. If you clicked “Add” instead, you need to delete your Litecoin Cash (LCC) wallet and add a new one. In the “Derivation Path”, enter: M/44H/2H/0H
Note: The character before “H” is the number zero and not the letter O.
#7. Now click “ADD”.
Your $LCC wallet is now ready and you can see both your LTC and LCC balances.
A Few More Important Things To Note…
- If you have more than one Litecoin wallet in your Coinomi account and you want to claim the equivalent LCC, you will have to repeat the above process, replacing the last zero with the (zero-based) account index each time. So for the second wallet, this would be M/44H/2H/1H, and for the third wallet it would be M/44H/2H/2H, and so forth.
- Coinomi doesn’t yet support SegWit addresses starting with ‘3’, so with this method, you won’t be able to claim your LCC if you had LTC on a SegWit address at the time of the fork.
- This doesn’t mean that SegWit address HODLers will not be able to claim LCC; rather, these users have to wait until either LCC’s official wallet comes out or Coinomi starts supporting SegWit addresses.
- Beware of SCAM wallets/websites surrounding Litecoin Cash who might prey on immature users to get ahold of their seed keys. Don’t use your seed words/private keys on splitting tools or 3rd party wallets unless you are 100% sure about it.
Refer to Coinomi’s official fork claiming guide here.
Note: Coinomi wallet is getting updated now for LCC and you will be able to claim your LCC through it as soon as it happens.
Now it’s time to hear from you: What are you going to do when you are able to claim your free LCC? Are you a HODLer or FUDster? Do let me know your thoughts in the comments section below.
If you enjoyed this tutorial, please share it with your friends on Twitter & Reddit!
Here are a few other articles for you to read next:
- What Is Litecoin Cash (LCC)? [Fundamentals, Exchanges & Wallets]
- How To Convert Litecoin (LTC) To Bitcoin (BTC)
- Where To Buy Litecoin Cryptocurrency: Best Websites & Exchanges
- The Top 8 Best Litecoin Wallets For Easy Access & Security
The post How To Claim Your Free Forked Litecoin Cash Coins (LCC) appeared first on CoinSutra - Bitcoin Community.
-- This article was first published on: CoinSutra – Bitcoin Community