Verge (XVG) Is The Coin For Forward-Looking Investors
Verge (XVG) burst on to the scene as one of the privacy-oriented cryptocurrencies, promising to revolutionize blockchain with the most secure and private network. It was mostly ignored as investors looked at established cryptocurrencies like Bitcoin, Litecoin, and Ethereum.
But a focused team has silently worked to make XVG a more acceptable payment currency than it was initially thought. Just the other day, TokenPay announced that it would support $XVG alongside $TPAY on its Merchant Tools Platform.
In a tweet on its official Twitter page, Verge states that the deal would see them provide fast and secure platforms where businesses and other consumers who demand privacy.
Is it the future of privacy? It is increasingly looking that way.
To underscore that Verge wasn’t just made for the darknet, @vergecurrecny also announced that it was being accepted as a payment option on the megastore.com. It appears it is a team effort as the tweet further congratulates everyone who made it possible.
So, is Verge ready for mass adoption?
I’d say it’s possible. Verge itself thinks it is ready. Their official Twitter page indicates that @vergecurrency now has 250,000 followers. This is a positive marker of its growing popularity, but this is still negligible. However, a lot still needs to be done regarding XVG’s public image.
And one area it could work on is to dispel the notion that it can only gain value when hyped by influential investors in the market. The upside is that the coin will gain in popularity and value could rise exponentially. The downside is that such a move (being hyped by the ‘who is who’) could be dangerous long-term.
Let’s look at it this way
Cryptocurrency doesn’t have the luxury of other property-backed investments and this means that events outside the market (usually hyped in nature) end up having a greater impact on prices.
For Verge, one major source of hype for the last few months has been McAfee. His tweet in December 2017 led to the price of XVG skyrocketing by over 800%. That was all good from the investors’ point of view.
But that could be counter-productive if what critics allude is true. Claims that some “people” could be using the pump and dump strategy for selfish financial gain will definitely end up building investor apathy. And what if McAfee or any other individual whose social media posts have helped drive value up, undid every gain by tweeting a rather pessimistic message?
If the value of XVG won’t be backed by its real-world value, then it’s likely to among the 90% of the cryptocurrencies that are predicted to fade long term.
But what are the positives for Verge?
Most users will tell you they do prefer a cryptocurrency that guarantees them transactional privacy, fast transactions, and low fees. Does Verge offer these?
One: VERGE is the future of privacy and anonymity, the cryptocurrency that has confounded critics to still find its way up the market charts. The chief criticism against Verge was aimed at its privacy feature.
The team behind Verge has always maintained that their aim is to make this cryptocurrency the go-to coin when you are looking at a flexible way to transact over the blockchain network. The notion that you can have both a private and public ledger hasn’t been convincing to some people.
But Verge gives users the freedom to choose which transactions to completely obfuscate and which ones can be completed over the public blockchain. The use of TOR and i2p technology gives XVG transactions an added layer of complete anonymity.
Two: Is Verge fast and does it offer the lowest transactional fees?
I have keenly followed heated debates on social media and on other crypto-leaning platforms for the last three months. While many of the topics centered on the FUD surrounding the market in late December and whole of January, there was still time to discuss one specific coin in the market: Verge (XVG).
If it can scale to the levels where it can handle thousands of transactions and at lower or zero costs, then it is one coin to watch going forward.
At the moment, Verge (XVG) can handle up to 100 transactions per second. The Verge speed is over 20 times faster than leading cryptocurrency Bitcoin. Compared to other privacy-oriented coins, XVG is better than Monero in terms of speed. So, if it is able to fine-tune its Wraith protocol, then we could see it being adopted on a wider scale.