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What factors influence the value of Verge (XVG) and what is the expected future of this widely known privacy cryptocurrency?
Verge (XVG) is a cryptocurrency for privacy, created specifically for secure and anonymous transactions. His name was originally DogeCoinDark in 2014 and became Verge in February 2016. Starting from February 2018, XVG is among the first 50 cryptocurrencies in terms of market capitalization.
There are other private privacy coins, which indicate a demand in the market for anonymous cryptocurrencies. However, is Verge eligible to take advantage of these potential opportunities? Let's go deeper.
Cryptocurrencies are known for their volatility and can experience rapid jumps and falls in small periods. Even these activities are substantially complex and there are a number of factors that can affect the values of coins or tokens.
By observing this, it is important that all risks and benefits related to cryptocurrency are taken into account before each investment. If you plan to buy Verge, keep the following in mind:
What could motivate the growth of Verge?
- Demand. After the creation of Bitcoin, it is clear that some cryptocurrency users are interested in a currency that offers confidential and anonymous transactions. The growth of other coins based on privacy, such as Monero (XMR) and Dash (DASH, also projects this condition.
- Availability. Potential buyers consider a more legitimate and credible cryptocurrency when they are listed in more exchanges. currency is easier to buy when the number of listings is relatively large, we strongly recommend that you consider the number of divisions that currently list Verge.
- Regulations. Lawmakers tend to integrate digital currencies quickly and are familiar with Frequent media reports indicating repressions in cryptocurrency trading: the new regulations could create an extra demand for coins like Verge in people looking for a way to overcome legal and fiscal limits.
- Recognition. Recognition of Verge is of utmost importance for its value There is a list of real world suppliers that accept XVG on the Verge website.
- Future. Any development and updating and in the future could affect the convenience of coins. For example, Verge's Rootstock project intends to add a sidechain to Verge for smart contracts. It is scheduled to be completed in the first quarter of this year.
Is it possible that Verge is compromised?
- Competitors. There are several privacy currencies competing for market share. The adoption of Verge may be limited by other currencies such as Monero, Dash, PIVX (PIVX), Zcash (ZEC) and Nav Coin (NAV).
- Illegal use. Privacy-oriented coins are at risk of being associated with illegal activities. For example, extensive media reports on links between private currencies and online criminals have been published, and the potential use of private money laundering coins by countries has been highlighted by some of the commentators. These connections could compromise the public understanding of cryptocurrencies like Verge.
- Regulations as a threat. Although regulatory changes may result in opportunities for Verge, they may prove to be a threat. If prospective buyers are afraid of strict direct cryptocurrency laws, they will avoid buying these currencies.
- Still under development. The technology of Verge is still under development and updated regularly, so there is a little uncertainty about the future of the value of XVG. Although there are foundations that support most modern cryptographic projects, some anonymous developers support Verge as an open source project.
- Supply. On February 23, 2018, CoinMarketCap indicated that the circulation supply of Verge is 14.628.427.635 XVG. The total value of the supply is 16.555.000.000 of XVG.
Where to buy Verge
What are the prospects for Verge?
Note that you should consider future updates, improvements and releases planned by the development team to predict future cryptocurrency movements. The Verge project benchmarks planned for the first quarter of 2018 are as follows:
- I2P Android Wallet. This is intended for anonymous mobile transactions on the I2P network.
- Mining upgrade. This update is planned as follows: "Miner XVGui, official mining mine, mining guide"
- RSK Smart Contracts. This is known as the Rootstock project and will add a sidechain to Verge for smart contracts.
- New website. The website will be redesigned for new practical guides, an updated plan, an official list of key members and an official Verge news blog.
Competitors of Verge
Numerous coins offer private and anonymous transactions against Verge. Some of these are as follows:
- Monero (XMR). This is a decentralized currency, which is also open source, intended for security, privacy and non-traceability. It is among the top 20 coins in terms of market capitalization.
- Dash (DASH). Dash is intended for instant and private payments and is regularly listed in the top 10 coins by market capitalization.
- PIVX (PIVX). PIVX, based on the Zerocoin protocol, is ready to provide security, privacy and low transaction costs.
- Zcash (ZEC). ZEC has a basic place in the top 50 coins in terms of market capitalization.
- Nav Coin (NAV). This is a Bitcoin based cryptocurrency intended for faster transactions, minimum fees and private transaction options.
Beyond 2018: how will the future of Verge be modeled?
The future can not be predicted accurately in this developing world of cryptocurrencies, so it's hard to say what will rise after 2018 regarding Verge.
Among the professionals there is a certain demand for private currencies in the cryptocurrency community. If Verge gets his recognition improved, then growth will be inevitable.
On the other hand, the price of the Verge is mainly threatened by two factors to revive again. Firstly, the legislative amendments that may entail benefits or serious risks for all private currencies between two fires.
And the second is the competitors in the market. There are a number of actors in the private coin industry and many currencies are in direct competition with Verge. We are looking forward to seeing the future, especially within 12 months.
Conclusion
The Verge project has potential with its advantages included but not limited to the popularity of private currencies, listing in numerous exchanges and continuous development. On the other hand, there is always the risk of illicit transactions with those currencies that offer anonymity. In addition there are a number of private coin projects that compete closely with Verge.
By looking at this, please take a closer look at the pros and cons of Verge and other factors that can positively influence its price before investing in XVG.
