What You Should Know Before Investing In Verge (XVG)
Verge (XVG) is simply the rebranded version of DogeCoinDark which was launched in 2014. The name was changed to Verge Currency in 2016. XVG still uses the same currency as DogeCoinDark.
Verge is a cryptocurrency that was built with security as its main focus. Verge runs on highly secure protocols like TOR, IP2 and recently, the Wraith.
The company makes use of highly advanced blockchain technology is built to hide the personal data of its users like IP address and geolocation.
XVG is an improvement of the original blockchain technology. The founder’s major goal is to achieve total anonymity. Transactions carried out on Verge are practically impossible to trace.
How Is Verge (XVG) Growing In The Market?
Coin recorded its last major growth between December 12th and December 19th. During that one-week period, Verge recorded an 800% value rise. However, DogeCoin has been growing slowing since then. Recording a 7.47% increase within the last 24hours.
How Is Verge Doing In The Cryptocurrency market?
The XVG is currently ranked at 22nd in the cryptocurrency chart. 1XVG is sold for $0.16 (USD). The coin has an estimated market cap of 16.5billion with 14.5 billion in circulation. On Friday 12th of January, it recorded a $150 million (USD) worth of exchange. These values do not appear great when lined up with some other cryptocurrencies.
How Does Verge (XVG) Work?
Verge is the first cryptocurrency to apply the Wraith protocol to its cryptocurrency system earning it the name “Privacy as a choice cryptocurrency”. This provides users with a fast, efficient and decentralized method of carrying out transactions while remaining anonymous. The DogeCoin based wallet has an option to switch on the TOR nodes (a dedicated DogeCoinDark mode). This mode guarantees total anonymity.
Verge is an open-source cryptocurrency system without premining. To purchase the XVG coin you would need your funds in cryptocurrency form for exchange. Verge does not permit exchange with fiat currencies (USD, Euros and the likes).
PROs Of Verge Currency (XVG)
- Simple Payment Verification (SPV) makes transactions faster.
- Easy payments.
- Complete anonymity during transactions.
- Allows exchange with other cryptocurrencies.
CONs Of Verge Currency (XVG)
- Low liquidity ratio.
- Volatile Value.
- No fiat currencies.
- Uncertainty about the future.
The growth of Verge currency declined considerably after the Founder was accused of having most of the XVG coins stored in different accounts controlled by him. The complete anonymity of Verge increases the chances of the claims to be true. The Verge (XVG) still has the potential to grow. Until the Wraith protocol is tested, it is advised to put your funds on hold.
This is not investment advice. Cryptocurrencies like Ripple (XRP) are highly volatile assets and are very risky investments. Do your own research and/or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.