Privacy is one of the main concerns of today’s generation in every aspect of life. And privacy for financial aspects is one of the utmost important things for many of the major crowds.
I would feel really awkward if someone knows all my transaction details and the people between the monetary transactions are taking place.
That is one of the most obvious things that we don’t want to disclose. Right?
If you haven’t gone through the detailed review of Monero (XMR) yet, then go through it now. It is also a cryptocurrency that is anonymous by default. It assures you a complete privacy to all your transaction record.
Here, we have come up with another anonymous cryptocurrency which is named Verge.
It has also achieved a widespread use to remain an anonymous user by crypto coins freaks.
So, without any further delay let’s start with what actually Verge is and how to buy it?
What is Verge?
Verge is blockchain based cryptocurrency known best for its security and anonymity. It is a decentralized currency designed for users who value privacy. It has an extra and enhanced feature in the form of blockchains compatibility and functions of future smart contracts.
You can say that it is a clone of Bitcoin but in an improved version with the aim to fulfill the objective of providing individuals and business with speedy transactions while maintaining privacy and security at a high level.
Verge was established back in 2014 as DogeCoin Dark making is one of the older coins in crypto space. In February 2016 it rebranded as Verge coin with its symbol as XVG.
The mission of Verge:
How does it work?
Every time you open your Verge Platform you will get connected to it over TOR (The Onion Router) which means you can browse internet anonymously.
When you use internet through TOR the browsing requests start colliding with different servers making others impossible to know from where the request has been derived. This way you are completely untraceable making the user anonymous.
Another major feature of Verge is Wraith Protocol. When the Wraith Protocol is enabled in a Verge wallet, it will automatically create “stealth” addresses, which are one-time-use addresses that cannot be publicly linked to your primary Verge addresses.
Verge is also working on implementing Smart Contracts by way of a RSK. The smart contract will work on a side chain of Verge blockchain network. It will not congest the network while simultaneously relying on the main blockchain network.
|Algorithm||Scrypt, x17, groestl, blake2s, and lyra2rev2|
|Block Time||30 Seconds|
What are the features of Verge?
Here are a few salient features of XVG:
- Completely private and anonymous.
- Decentralized and Open- Source Platform.
- Speedy Transactions.
- Expertize development team.
- Ready for the usage purpose.
How to buy Verge(XVG)?
First of all, there is no direct way to buy Verge, thus you need to buy Bitcoin and then exchange it for XVG on an exchange.
Exchanges to buy Verge(XVG):
For this guide we will use Binance to Buy Verge:
Register on Coinbase
First of all, you need to create an account on Coinbase and buy Eethereum or Bitcoin. Coinbase allows buying BTC, ETH, and LTC with credit card, debit card, and bank account.
If you are a first-time buyer, then Coinbase will be pretty easy for you and it is fully regulated by US laws. However, Coinbase is available only in 32 countries around the world and if it is not available in your country, then you must try these Coinbase alternatives.
For this guide, we will be buying Ethereum on Coinbase as the transaction fee is lower and takes less time when compared to Bitcoin.
While signup you need to enter your Name, Email and get your Mobile number verified. Don’t forget to sign up with our link as you will get $10 on making your first purchase of $100.
Buy Ethereum with Fiat Money
Once your credit card/bank account is verified, you need to go to “Buy/Sell” section. Just enter the amount you wish to buy – you can either enter the amount of Ethereum or US dollars.
Confirm the transaction and complete the payment. Soon, Ethereum will be added on your Coinbase account.
Now, You need to create an account on an exchange in order to buy XVG. I would recommend you to go ahead with Kucoin or Binance as they have good liquidity and no verification is required.
Send ETH to Kucoin
Now you need to signup with KuCoin and verify your email id.
Once your account is created, you need to go to ‘Asset’ section and click on ‘Deposit’.
Now search for Ethereum and Click on it. Just copy the ETH address.
Go back to Coinbase and select ETH Wallet > click Send > select the amount you want to transfer to KuCoin > paste the ETH address you copied from your KuCoin account and click Continue.
Purchase XVG on KuCoin
Now that you have ETH in your KuCoin account, just go to ‘Market’ > search ‘XVG’ and select XVG/ETH pair.
Enter the amount of XVG you wish to buy and hit ‘Buy‘.
That’s it! Soon you will get XVG in your KuCoin account.
If you are willing to store XVG for long term then I would recommend you to store it in your personal Desktop, Hardware or Mobile wallet for more security. Storing funds on the exchange could be risky as they can be hacked.
There is a large number of supported wallet that is differently supported by varieties of the operating system. You can have desktop wallets, mac wallets, mobile wallets and others
To get the detailed information on available wallets go their official website and check out your best suitable one according to your preference.
I personally recommend you to use Electrum Wallet because it is the only wallet that provides native TOR and i2P support (which means your IP address will get extra layer of anonymity)
Advantages of storing your coins in electrum wallet are:
- Electrum enables multi-signature support (requires more than one key to authorize).
- The Electrum server does not store user accounts.
- Your private keys are not shared with the server.
- If you lose your wallet, you can recover it from its seed.
If you are an Android mobile user, then I would recommend you to use Coinomi app. You can create an XVG wallet and easily store your funds in it.
This app has a very easy to use UI and most importantly, it’s free!
Future of Verge:
Currently, Verge is the first ever cryptocurrency that uses Wraith protocol. It allows you to choose your preference of whether you want to show your transactions on a public ledger or you want to keep it private.
Although, Monero is completely private currency Verge has taken a step forward in providing extra features of multi-algorithm mining with the stable connection and durable network.
The block time and transaction fees are also comparatively low than other anonymous currencies which attracted a lot of attention from the crypto crowd in order to utilize the secure platform for the transaction.
Verge has recently gained its position under top 30 cryptocurrencies on coinmarketcap. Supply is capped at a high of 16.5 billion XVG, and it has a relatively fast half-minute block time.
But the key thing that needs to be considered is that Verge is still under development process. It might do well in future but it has yet need to move a long way to make its objectives fulfilled. You need to keep a strong analytical eye on Verge if you are planning to invest in XVG.
To get connected to verge platform below are some of the listed resources:
So, I hope by now you must have understood how to buy Verge(XVG) as well as some important factors about it.
Do comment below and share your views on this cryptocurrency!
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