Which Coin Is A Better Buy – Verge (XVG) Or Digibyte (DGB) Or Bytecoin (BCN)?
It’s not easy to unearth a coin that could turn out to be an absolute gem, made even more difficult by the influx of coins totaling over 1500. However, there are a few coins in the limelight at the moment, which is worth considering, despite what sentiment they evoke.
The current atmosphere around Verge (XVG) can mistakenly be summed up as not being investor friendly. The latest attack, while not encouraging for a coin that is looking to establish itself, is an opportunity for the XVG team. This is a time to work on the issues bedeviling the crypto platform; in the process, it will only be better.
Even with the 51% attack, Verge’s platform is still one of the best out there. What the coin has achieved by way of excellent partnerships and a passionate community means that it can only learn and be better.
Before the latest debacle, Verge was looking up. There were a number of partnerships lined up to add to the Pornhub deal; all great news for the coin. Partnerships with the likes of Dioxyme from the health sector, Heightcare- engineering, and TokenPay. There’s even talk of Paypal and Venmo. All these are good signs for the growth of XVG’s value.
Nevertheless, the markets are not so forgiving though, and XVG’s price has suffered even more after the news of the attack. At the time of writing, XVG is trading at $0.039 against the USD. Its value is -10% down in the last 24 hours and -25% over the last 7 days.
It’s not good for the coin, but the market is painted red for most coins and it’s hard to isolate Verge at the moment. However, from the responses from the team, Verge family, and the general crypto community, the attack on the coin doesn’t spell doom for it.
The only question is whether the team will work on this latest attack and emerge stronger. If it does, then buying XVG now would be a great move for any investor.
Cees van Dam, a member of the XVG marketing team has this for any worried investor:
“For anyone thinking their investments is not secure, don’t worry your coins are SAFE”
It’s not so dissimilar to XVG in that the two coins have had to deal with a negative development in the middle of a bear market. Bytecoin almost grounded to a halt a few weeks ago due to network issues occasioned by an influx of transactions.
It happened after the coin was listed on Binance, raising questions of whether it was a scam.
The team had an AMA recently in which they moved to explain to the community the whole issue around the network blackout and future plans.
It appears the issue is behind Bytecoin- the community rallying to stick with the devs. During the AMA, the team had this to say:
“Bytecoin is the first coin that is based on cryptonote and for now it’s the one and only currency that can offer you 100% privacy. We are working hard to make our coin more widely spread and usable for everyone.”
The market has, like in XVG’s case, not been so great for the coin. After rising by almost 200% in 24h then, the value has dropped steadily over the last several days. BCN currently trades at $0.007 against the USD, down -9% in 24 hours and -30% over the last 7 days.
However you look at it, Bytecoin could be back in business. The team has announced that they have partnered with Trust Zone VPN to make browsing the internet completely anonymous. There is a promise for more partnership announcements in coming days.
BigiByte’s selling point could be its security and speed of transactions. The ability to handle about 300 transactions per second makes it faster than BTC, ETH, and LTC.
It is the first crypto to have all these features that enhance security: SegWit, Multi-Algorithm mining and DigiShield. These make it more secure than most of the top cryptocurrencies. In the aftermath of the Verge attack, DigiByte posted the following on their Twitter account:
“To those asking about the Verge attack & if the #DigiByte #Blockchain is vulnerable to the same attack. Absolutely not. We fixed this problem with #DigiShield & #MultiShield in 2014. $VXG allowed up to a 2 hr discrepancy in block times & used “Dark Gravity Well” for difficulty.”
The platform uses DigiBytes, which are digital assets that are indestructible, difficult to counterfeit, and cannot be hacked. The result is that they become ideal when there’s a need to protect valuable objects like currency, information, and digital data.
The platform is setting itself up for mass adoption, an aspect that makes investing at the moment a great idea.
DGB currently trades at $0.03 against the US dollar. Though in the red, the coin is slightly better off than Verge and Bytecoin. It’s down -5% in both the 24 hour and 7-day periods. The market cap is $368 million, putting it at 48th on CoinMarketCap.
Conclusion: The choice between the three coins should be on what potential for future growth and adoption they have. All seem to present that potential, but based on the real movement towards it, Verge edges the other two. What do you think- do you believe that the vulnerability will be fixed once and for all?