What is the virtual currency Verge (XVG)? What exchanges can I trade on? We will thoroughly explain its features and future prospects. This virtual currency has been attracting a lot of attention since its creation in 2014. Since it is a major altcoin, I will explain its future prospects in this article.
What is the virtual currency Verge (XVG)? What kind of virtual currency?
Originally, it was called Dogecoindark instead of Verge/XVG (Verge). Due to its name, it was unable to attract users, so it was renamed to its current name in 2016, Verge. The maximum number of virtual currency Verge issuance is 16.5 billion XVG, which is very large compared to the maximum number of Bitcoin (BTC) issuance of 21 million BTC. The features and mechanism are explained below.
Coin specialized for payment use
Verge (XVG) allows for fast and inexpensive payments. Using a technology called SPV (Simple Payment Verification), it is possible to approve transactions by downloading only the minimum necessary data called block headers, without having to download all blocks when approving blocks like Bitcoin (BTC). This allows for fast and inexpensive transactions. It is highly versatile as it can be used not only on iOS and Android, but also on Windows and Linux.
Adopts multiple PoW algorithms
Verge (XVG) has five algorithms “multi-algorithm” in PoW, so miners can perform mining on multiple devices and OS. Verge (XVG) prevents an oligopoly of miners from monopolizing profits by utilizing multiple hash functions in the consensus algorithm PoW. It is also attractive that it is resistant to hacking attacks and has excellent security.
A community is formed
Verge (XVG) was developed by volunteers, so a community has been formed. Due to the existence of a community, information on virtual currencies is frequently exchanged, and it can be used as an indicator of demand and popularity.
High security
Verge (XVG) is equipped with three systems: Tor, Wraith Protocol, and i2P to achieve more anonymous transactions than Bitcoin, Ethereum, etc. The source of the communication, the communication route, and the history can be kept private, making it possible to conduct more anonymous transactions.
| ToR(The Onion Router) | Technology to anonymize the source of communication (connection route) |
| Dual-Key Stealth Address Protocol | Technology that allows you to switch transaction history between public and private |
| I2P(The Invisible Internet Project) | Technology that anonymizes all remittances and communication routes |
What are the features and future prospects of the barge?
What are the prospects and future of the virtual currency Verge (XVG: vergecurrency)? Let’s check the price movement at the same time. It is attracting attention in the blockchain market. In the past, many people have made money with minor currencies of their choice. In general, it is difficult to make money with a specific new currency in terms of management, but some platforms are evaluated and the price rises sharply. There are no guarantees in investments such as FX, so be careful. Check the detailed distribution and accurate movements in real time on the web, etc., and analyze them.
Overall chart and price movement
Verge has been on a downtrend for a while since it went public. The market price rose temporarily in 2017, but in 2018. It fell again after being attacked by 51%. This attack resulted in the implementation of five algorithms. Prices will rise again from around 2021. After that, it has been trending upward in 2021, 2022, and 2023, making it a very good coin for investment. There was a temporary spike in July 2023, but it has stabilized again.
Source : https://coinmarketcap.com/
Publication of development information by management
As one of the means of information disclosure, Verge has various communities, so information exchange is very active. You can rest assured that the frequency and content of information disclosure is very frequent. Future roadmaps have also been published. This will be a positive factor since it will be difficult to judge the future potential of a project if the future schedule is unclear.
Increase in number of exchanges handling
The number of exchanges that handle it is increasing. Although it was only available on some exchanges such as Binance, exchanges such as Bybit and MEXC have also started handling it, and it is expected that the number will increase in the future and the value will rise even more.
Recommended virtual currency exchanges where you can purchase XVG
Finally, I will introduce virtual currency exchanges where you can actually purchase this virtual currency. We have compiled the information for your reference. We have selected recommended exchanges that cover Bitcoin, altcoins (Ethereum (ETH), Tether, etc. (USDT), Ripple (XRP)), and where you can invest in a large number of coins. It is an exchange where you can trade using an app or a computer. Each has its advantages and disadvantages, but there is no risk and you can make a large profit by making payments. It is safe because a loss cut is adopted when the amount of loss exceeds a certain amount.
Bybit
Bybit is a cryptocurrency exchange established in Singapore. However, it later moved its base to Dubai and is a virtual currency exchange that is expanding globally. The leverage is quite high at 100 times, and the number of coins handled is over 300, so it is quite fulfilling. Overall, there are plenty of big campaigns and bonus services, which is a plus.
| Exchange | Bybit |
| Location | UAE |
| Coin | 300～ |
| Leverage | 100x |
| Commission | Maker：0.1% Taker：0.1% |
| URL | Home |
MEXC Global
MEXC Global is a virtual currency exchange established in Singapore, Asia. The main users are Japanese, but it is spread all over the world and millions of users transact every day. It handles over 1500 virtual currencies, and you can also speculate on unknown coins, so it is recommended. The maximum leverage is 200x. News also provides information on coins that are attracting attention.
| Exchange | MEXC Global |
| Location | Singapore |
| Coin | 1500～ |
| Leverage | 200x |
| Commission | Maker：0.010% Taker：0.050% |
| URL | Home |
Gate.io
Gate.io is a virtual currency exchange established in China and may have a suspicious image, but it is currently based in the Cayman Islands and is very safe. It handles the largest number of coins in the world, with over 1,700 issues, making it the most recommended exchange for those who want to speculate. We also communicate through the media when new listed coins are released.
| Exchange | Gate.io |
| Location | Cayman Island |
| Coin | 1700～ |
| Leverage | 125x |
| Commission | Maker：0.15~0.2％ Taker：0.15~0.2％ |
| URL | Home |
KuCoin
KuCoin is a virtual currency exchange established in Hong Kong, but has now moved to the Seychelles Islands. We have successfully expanded globally as a virtual currency exchange that is traded by 8 million people around the world. You can invest in over 700 virtual currencies. The operation is thorough in verifying the identity of the user, and funds can be deposited at a financial institution and international remittances can be made to the wallet.
| Exchange | KuCoin |
| Location | seychelles |
| Coin | 700～ |
| Leverage | 100x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
BitGet
BitGet is a cryptocurrency exchange established in Singapore. Currently, there are millions of users around the world, and it is popular because it has very solid security. The latest copy trading has been introduced in the industry, and it is very famous and has a large number of registered and participating users. The amount of money will increase because you imitate the buying and selling details of experienced traders, both short-term and long-term. You can increase it starting from a small amount.
| Exchange | Bitget |
| Location | Singapore |
| Coin | 700～ |
| Leverage | 125x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
Points to note when trading virtual currency
One thing to keep in mind when trading virtual currencies is that taxes are payable when profits are determined, not losses. Please be aware that if you make a similar profit on overseas virtual currency exchanges, you will be required to file a tax return in the future. Downloading transaction history is also popular and quite convenient, and the technology and functions have progressed considerably. If you are buying in cash, be sure to check as there is a possibility that the prices of the stocks you are holding have soared without you knowing. Please also check the terms of use online.
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