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RE: Crypto Update: What You Need to Know About Litecoin Cash!
I've talked with my mate about this. If private keys are required then I wouldn't do it... Many would but they know how to limit their risk by putting the crypto in a new wallet and then moving it directly out after following the process... I'd just rather not touch it if it is as you have described.
Could you break that risk management process down for a noob like myself? Am I understanding it right that it'd work something like this: You hold LTC in Coinbase LTC wallet, you provide the Litecoin Cash folks with that wallet key when requesting your 10/1, then you immediately transfer the LTC out of the Coinbase wallet to another LTC wallet of yours in case the potential scammers try to go after the funds in the original wallet? If so, how would they do that? TIA for some clarity on this!
Official forks can manage to get holders credited in exchanges so that is the safest. But if the fork is unofficial they may ask you to provide the private keys to your wallet (when you keep them in one off exchange - you don't hold private keys on exchange, the exchange is holding your money for you...). If you are asked to provide your private keys think very hard because essentially the person who has the keys owns the coins (or has the ability to transfer them to another wallet). I'm with a lot of my readers on this one, looks scammy so be careful.
Thanks for the explanation. I look forward to seeing your feedback once it's released.