What Is Verge (XVG): Should You Invest in this Coin?
If you are looking to invest in an altcoin that is not too expensive, the Verge (XVG) coin is an option worth considering. Read our review an find out if this crypto is worth investing or not.
What is Verge?
Verge is a cryptocurrency which resulted from a Dogecoin fork which was launched back in 2014. Originally called DogecoinDark (DOGED), the crypto was later rebranded to Verge Currency in 2016, but it still uses the same currency as DogeCoinDark.
Verge is a digital currency that was created to protect user anonymity while using an open blockchain. Verge protects privacy by running secure protocols such as TOR – the anonymizing router network, I2P and, the Wraith.
The Wraith protocol lets users choose between a public or a private distributed ledger when transacting on the Verge blockchain.
Why invest in Verge (XVG)?
First, let’s look into some aspects of XVG:
The coin saw its last major increase between December 12th and December 19th, recording an 800% rise in value. However, it went down immediately after that. But even a good coin is expected to experience such a correction after such a sharp growth.
The best coins to invest in are those that have limited supply cap. Verge has a supply cap of 16.5 billion coins, out of which14 billion have already been issued. This means that in the long run, the demand for XVG will keep on growing in relation to its supply. This will result in a price rise, which will turn out to be a profitable investment for those that bought the coin now while it’ still low.
Buying big cryptos such as Bitcoin and Ethereum right now will not bring you much profit now unless of course, you dispose of the necessary capital. That’s why many investors turn to low-cost altcoins that can be purchased in large amounts. Verge is currently priced at $0.05, being a really cheap buy. Any small price rise will translate to great profits if you happen to own it in large numbers.
One of the reasons why cryptocurrencies are so popular is because of its anonymous nature. Verge works to obfuscate the user’s IP address, and while this helps with privacy, but it’s not a full-proof security. When it comes to privacy, there are other cryptocurrencies that fare much better. For example, Monero doesn’t have a public blockchain like verge does, offering more privacy. It does, however, offer more privacy than Bitcoin, but if you really are set on true anonymity, there are better options out there.
XVG is relatively stable against other major cryptos and USD. This means that the technical aspects of verge have a solid foundation. This removes any doubts that the coin might be a pump and dump scheme like a wide majority of coins. Its stability also makes it a long-term investment with concrete fundamentals protecting it from negative price movements.
A very important aspect that should also be taken into consideration is the number of exchanges that the coin is listed on. The more exchanges that list the token, the better. That’s because it has more exposure and it gets traded more, which raises its price, merely on the basis of demand and supply.
Currently, Verge can be traded on the following exchanges: Binance, Bittrex, Upbit, fex, HitBTC, Gate.io, Bitfinex, Cryptopia, YoBit, LiteBit.eu, Bitbns, Vebitcoin, CryptoBridge, CoinExchange, Trade Satoshi, Trade Ogre, and SouthXchange.
The development of Verge currency waned significantly after the Founder was accused of owning most of the XVG coins kept in multiple accounts established by him.
PROs of Verge Currency (XVG)
- Simple Payment Verification (SPV) ensures fast transfers.
- Easy payments.
- Anonymity during transactions.
- Can be traded with other cryptocurrencies on many exchanges.
CONs of Verge Currency (XVG)
- Low liquidity ratio.
- Volatile Value.
- Not 100% anonymous.
When evaluating potential cryptocurrencies such as Verge (XVG), it is not always a good idea to look at it from one angle, the price. Wise investors will look for technological developments that will boost the value in the future. Most of the news around XVG point towards having long-term potential.