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Verge is a cryptocurrency that aims to keep transactions anonymous and untraceable while allowing for higher throughput and fast confirmation times. It utilizes anonymity – centric networks such as TOR and i2P in order to make the IP addresses of its users are obscured and the transactions are completely untraceable.
The aim of this cryptocurrency is to provide security and privacy to the users, just like other privacy – focused coins like DASH and Monero. Privacy in a cryptocurrency is also considered to be one of the prominent features of crypto.
Verge also known as XVG was started as DogeCoinDark back in 2014 which also make it one of the oldest anonymous crypto coins.
Primarily verge offers two types of advantages which are as follow:
- Security – Verge provides complete privacy by being anonymous in transactions
- Functionality – Verge also provides extra functionality in the form of compatibility across multiple blockchains and future smart contract functions
What is the Purpose of Verge Cryptocurrency
The team behind Verge says that “Our mission is to empower people around the world by bringing blockchain transactions into everyday life. Verge currency makes it possible to engage in direct transactions quickly, efficiently and privately. With Verge currency, businesses and individuals have flexible options for sending and receiving payments. With the flip of a switch, we offer helpful integrations and tools that enable them to handle large – scale transactions between merchants and small – scale private payments”.
Where can one Purchase Verge
If you wish to purchase Verge, you can do so from the following exchanges:
|Name||Payment Method||Available Fiat Currencies||Available Cryptocurrencies|
|CoinSpot||Cash, BPAY, POLi, Cryptocurrency||AUD||BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc|
|Binance||Cryptocurrency||BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC etc|
|Changelly||Credit card, Debit card||USD, EUR||BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc|
|Cryptopia||Cryptocurrency||BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT etc|
|Bittrex||Cryptocurrency||–||BTC, ETH, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, QTUM, ZCL, RDD, LTC, NEO etc|
What are the Unique Features of Verge
Verge consists of various features which are as follows:
The user of Verge gets the “Wraith protocol” which is also an optional feature. This lets users to decide whether they want to have a transaction kept entirely invisible, or recorded visible blockchain
Stealth addressing is a feature which lets senders create an unlimited number of one – time addresses for recipients. And only a recipient can get the access to it, and cannot be linked to either the sender or the receiver. This lets senders easily offer more security and privacy for receivers
Multi – algorithm mining
Verge is one of the cryptocurrencies which offers multi – algorithm mining, which also supports 5 hash algorithms on one blockchain. This also indicates that a greater variety of people and devices can profitably mine it
Atomic Swap inter – chain operability
Once Verge will come into being completely across multiple blockchains, users will be able to seamlessly convert and transact currencies across multiple other blockchains that offer Atomic Swap functionality.
- Rootstock Smart Contracts
In coming years, Rootstock will also integrate smart contracts as well
Which are the Verge Wallets
In this section we will list out three best Verge wallets for storing, sending and receiving Verge (XVG):
|Name||Wallet Type||Supported Cryptocurrencies|
|Coinomi||Mobile||BTC, ETH, ETC, BTG, DOGE, LTC, LCC, BCH, DASH, NBT, PPC, RDD, MONA, DGB, DGC, NEOS, XVG, VTC, BTA, ABN|
|Verge Electrum Wallet||Desktop Client||XVG|
|Verge QT Wallet||Desktop Client||XVG|
Features of a Verge Wallet
Following are the features of a Verge Wallet:
- Make sure to look for the compatibility as there are only limited range of wallets that are compatible with Verge
- To make handling your crypto coins easy, look for a wallet that’s simple to operate and understand
- It is important to check the security measures before start storing your crypto coins such as if the wallet has encryption, two – factor authentication and a secured PIN
- After that, check the reputation of the wallet. Also, the development team behind the wallet is also important. Rather than moving on to other projects once the wallet has been released, do they continue working on it to provide improvements and upgrades?
- Good reviews. Finally, take some time to read reviews from other users to find out how they found the wallet. Was it easy to use? Did they ever have any problems? Would they recommend it?
How to Purchase Verge
Once you have chosen your wallet, it is time to purchase some verge to hold in it. If you are not able to make the purchase with a “fiat currency”, you are required to first purchase another currency. The easiest to buy are Bitcoin and Ethereum, which you can get it at Coinbase using a bank transfer or debit / credit card purchase and then swap that for XVG at Changelly or Binance.
How to Register at Coinbase
If you are buying crypto currency for the first time, you can use Coinbase to make your first purchase. It is easy to use, especially for the first time crypto currency buyers, it is also fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.
You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines