In today's landscape, censorship, regulatory uncertainty and others drive cryptic users to privacy-focused currencies. Currencies such as Bitcoin, Ethereum and Litecoin can be monitored, which causes concern for some. As a result, the future of transactional currencies could be in cryptocurrencies like Monero, Dash and Verge, which offer anonymity to their users.
Monero and Dash are seeing widespread use and even adoption in the real world in the case of Dash. But as a currency at the lower end of the average limit threshold, some may find Verge difficult to find. This guide will show you step by step the process of investing in Verge for the first time.
What is Verge?
Created in 2014, Verge is a currency created for the daily use of transactions, maintaining privacy at all times. For example, if it does not have the market capitalization of Bitcoin or Ethereum, Verge offers some advantages. Use networks such as TOR and I2P to route traffic through thousands of addresses, obscuring the actual IP used by someone to make a transaction.
Also at this point, it also acts best for the transactional use of many of the larger coins. It can process more transactions in less time than Bitcoin, at a lower cost. The privacy features of Verge, combined with the speed of processing, have put them to good use collaborations in the real world. In particular, several companies in the adult entertainment sector of 92 million dollars.
From a price point of view, the story of Verge was a roller coaster. In December 2017, the value of money skyrocketed, producing a 30-fold increase in the space of just two weeks. Since then, he has sometimes tested the maximum of 20 capital cap market cryptocurrencies, falling to 40-50 in others. This volatility may be interesting for traders, who may see the possibility of going down for a coin that has shown peak potential.
That said, let's see how to start negotiating Verge.
Step 1: Get a portfolio of verge
Regarding any cryptocurrency, you need to get a secure wallet with which you can store coins, outside of an exchange. Although the days of cryptocurrency like the Wild West are going through, it's still vital that you keep your portfolio safe at all times. This means using a portfolio that controls, which is not easily hacked. The two most common Verge wallets they are Verge Electrum and Verge QT, both developed and supported by the Verge team.
The Electrum portfolio is an open source wallet, originally created for Bitcoin, but adapted by Verge to work for XVG. Electrum is a light option. Not downloading the entire block of Verge, allows users to make transactions extremely quickly and, therefore, is a good option for people who want to use VXG to make transactions.
The Verge QT portfolio is a more complex option, which takes up much more space as it requires the entire chain to be downloaded. The advantage is that it allows a wider range of privacy features, for users looking for a safer option.
While the two previous options only allow users to store VXG, Coinomi It is a popular mobile wallet that has the advantage of over 500 resources supported. Coinomi is a great option for users wishing to keep XVG as part of a varied portfolio.
Step 2: Purchase Bitcoin / Ethereum
Since Verge has not yet reached the widespread saturation of the other major currencies, few sources offer the direct purchase of Fiat (USD, EUR, etc.) Di XVG. For this reason, the best method is to buy Bitcoin or Ethereum first and then exchange it with Verge.
There are many places where you can easily buy Bitcoin or Ethereum. Coinbase and Gemini are consolidated exchanges that offer users the opportunity to purchase these coins directly with Fiat. Alternatively, you can buy one of 8 popular coins with a credit or debit card on Coinmama.
Step 3: Register for an exchange (like Binance)
Once you have your Bitcoin or Ethereum, you need to register for an exchange that supports Verge. To find this information, search for Verge on CoinMarketCap and go to "markets"Card. This will show you a list of all trades and trading pairs for XVG. Bittrex is Cryptopia they are two popular exchanges with different pairs for Verge. However, for this guide we will use Binance, the largest exchange in the world by volume, and one of the safest options available at the moment.
If you have not already done so, sign up for an account on Binance. They have a clean user interface that makes it fairly easy, and the process is fast compared to other exchanges.
After setting the security measures and sending the verification documents, you must deposit the coins purchased previously. To do this, go to the top menu and select "Funds", then "Deposits". Select the currency you wish to use and Binance will provide you with an address to send it. Be sure to send only the currency specified to that address – I.E. if you chose to deposit Ethereum, send only Ethereum. Any other coins sent to that address may be lost.
Step 4: Trade Bitcoin or Ethereum per Verge
Now you've financed your Binance portfolio, you'll want to trade with Verge.
Go to "Exchange" and select "Base". This will make the commercial plan appear. Now go to the right side, select the coin you previously deposited and put XVG in the search field. The XVG (BTC / XVG or ETH / XVG) pair will be displayed. Click on that
Below the price table, you will have the options to buy and sell XVG. Enter how much of XVG you want to buy and it will show you the equivalent in BTC or ETH. You can also choose to buy 25%, 50%, 75% or 100% of your BTC / ETH funds in XVG.
Once the order is confirmed, Verge coins should appear in your Binance wallet within minutes.
Alternative: see one of these smaller exchanges to buy XVG directly with Fiat
While we recommend the use of a large exchange like Binance, even if this means buying your initial cryptography elsewhere, there are some smaller platforms that allow users to buy Verge with Fiat. HitBTC it is the best known exchange of Verge-Fiat couples. YoBit is LiteBit also offer this for users in some areas of the world.
Final step: extract XVG from your wallet
When you sign up for Binance (or any other bag), you will have a wallet created for you. You can keep your funds in this portfolio, but the best security practice is always to withdraw your coins when you are done trading.
If you are using Binance to purchase Verge, go to "Funds" and select "Withdrawals".
This screen will show you the total amount held in your XVG wallet Binance, how many coins are in an order pending execution and the total amount available for withdrawal.
Now enter the address of Verge Wallet from Coinomi, Electrum or QT (whatever wallet you have chosen to use). Enter the amount you wish to withdraw and press "Send". After confirming via a link sent to your email, your Verge will be sent by Binance to your wallet.
And that's all there is to buy Verge, one of the coins with the highest potential in the private privacy coin industry.
Andrew is a writer and digital marketer from New Zealand, now based in Southeast Asia. Along with his work in many areas of e-commerce space, Andrew has a strong interest in cryptocurrency, in particular altcoin projects and projects focused on traditional cryptographic adoption.