Even though bitcoin was invented in 2008 and has been embraced by investors, the cryptocurrency market can only be described as immature. This might be a multidecade story in the making, but even crypto’s biggest fans should take heed of what happened this week.

On Sept. 13, a number of news outlets reported that Walmart Inc. had entered into a “partnership” with litecoin to accept payments made using that cryptocurrency, citing a news release. That turned out to be false.

Litecoin rose in value by as much as 33% that day before ending with a 3% gain.

The event is a reminder to think before trading on what you read. Two red flags here: the notion of a “partnership” with a cryptocurrency as well as the idea that a company as large as Walmart would make such a bold move with a virtual currency that tends to fly under the radar (most attention and trading volume is focused on bitcoin and ether).

Mark DeCambre sheds more light on how cryptocurrencies can be exploited for financial…

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Source: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7644-F25FC5C24E85%7D&siteid=rss&rss=1