On which platforms can Verge (XVG) be bought and sold?
How to summarize Verge in two words? “Anonymous” and “Untraceable” seem to correspond well insofar as Verge’s team has decided to make them its main focus. Indeed, it is for example impossible to know the authors of a XVG transaction. IP addresses do not appear and therefore this currency can be used for anonymous transactions. We could also add the adjective “fast” to the qualifiers of Verge since transactions are generally confirmed in less than 10 seconds.
Verge is a cryptocurrency that has already been in existence for more than 3 years since it was launched in October 2014. It is in fact the result of a Fork made on the Dogecoin. The team’s mission is “To enable people around the world to use Blockchain transactions in their daily lives”. Verge is a bit like the Bitcoin in an improved version, with more speed, security and anonymity. These are characteristics that appeal to investor communities!
How it works: for what purposes can Verge (XVG) be purchased?
Verge uses Tor and i2P protocols for its customers’ transactions. This makes it possible to make all transaction data anonymous. This reminds us of Monero’s characteristics, but with one difference: it is possible to track “owner changes” for each XVG token. You can’t access IP addresses, but you can know when the token changed ownership. This is not possible with Monero. Thus, one could say that Monero has the advantage over Verge in terms of anonymity.
There is also a Verge portfolio: the Verge Wallet. The portfolio operates on multi-signature principles to identify itself and carry out transactions, which provides a fairly satisfactory level of security.
Also, the Verge team plans to launch Android portfolios. As you have understood, Verge can be used as a currency to buy material goods. To put it simply, it is a kind of Bitcoin, with a reinforcement on the anonymous aspect of transactions. The project closest to Verge, and which includes the same use cases, is probably Monero. We therefore invite you to read our fact sheet on Monero. It is often said that, if Monero is more secure, Verge is easier to use.
Our review: should we buy Verge (XVG)?
It is quite easy to have a well-informed opinion, just answer the following question: will the owners of crypto currencies want to protect their payment information by using a currency that makes it possible to make the data anonymous?
If you think the answer is YES and you believe that the Verge team can implement the technology they claim within a short time frame, then you should consider purchasing Verge XVG.
However, if you think that crypto coin owners will prefer another solution, then you should restrict yourself to investing in XVG. Same thing, if you think that anonymous currencies like Monero, DASH, ZCash or PVIX have better insider technologies than XVG and that the latter are better competitors.
Alternatively, you can choose to bet on several “anonymous currencies” and therefore have a little bit of Verge, Monero and Dash (for example) in your portfolio. In the investment world, diversification is always welcome. In any case, it is now quite difficult to say which of these technologies will triumph.