My Experience of Trading Litecoin Cash for Litecoin on MeanXTrade

Without going into details I took a shot in the dark and went for the LCC-LTC trading pair over at MeanXTrade a day after the fork. I had 740 LCC (which if you use the Yobit exchange, was roughly equal to $4800USD at $6.49/LCC at the time).

As we know, this was complete BS as the price was artifically high due to no LCC deposits allowed at the time. I believe you still cannot deposit your LCC in Yobit.

Because of the dodgey/shady situation surrounding LCC and the lack of liquidity, I went for the trade at MeanXTrade and got my 4 LTC. Yeah I took a huge hit; at the time I thought that maybe the LCC trading environment will stabilize and become liquid and I could have gotten a much better price if I waited. Turns out that LCC is quite frowned on nowadays and the price over at CoinMarketCap has plummeted now that the Yobit exchange has been removed from the price calculation.

My experience at MeanXTrade was interesting; they're in beta so beware. But at the time, the trades were so thin that when I dumped my 740 LCC, I was causing the price to drop! I had to do 5 market trades in order for me to find buyers for my LCC. At the same time, my selling price of LCC kept on dropping and dropping.

Who knows, maybe LCC will climb again. In the end, free money is free money and I'm happy to have in my personal wallet the resulting 4LTC (which is far more liquid and pretty universally accepted).

If you have any specific questions about my experience over at MeanXTrade, fire away.
Cheers.

https://globalcoinreport.com/addressing-litecoin-and-litecoin-cashs-power-struggle/