What is Verge Cryptocurrency?
Verge cryptocurrency is among the most dynamic of all currencies in the crypto market. In 2017, the market value rocketed by more than 1,000% percent, so anyone who was able to buy Verge for a few hundred euros in early 2017 is now a millionaire.
According to the official website, Verge sees itself as a secure yet anonymous cryptocurrency which strongly focuses on privacy. Much like Bitcoin or Litecoin, Verge is a decentralized currency which, unlike some well-known digital currencies, values anonymity.
Its triumphal progress began in 2017 under the name “Doge Coin Dark”, and it was renamed “Verge” in 2016. According to its own data, Verge transactions, which among other things obscure the respective user’s IP address, cannot be traced.
For example, Verge enhances Bitcoin’s blockchain technology which makes the currency particularly attractive to investors. It has been possible to trade Verge cryptocurrency since 2017, however, the market share is just less than 0.1 percent. Even so, there are currently more than 14.4 billion coins, and Verge has become one of the top 50 cryptocurrencies.
Ways to Get Into Verge Cryptocurrency
If you want to participate in the cryptocurrency market, you simply buy crypto coins through a CFD broker. However, Verge cannot currently be traded as CFE, because no broker currently offers the currency as a CFD.
It takes around ten minutes to open an account with a CFD broker. Of course, traders can also buy “real” Verge, but it’s essential to have a wallet for this purpose. A wallet is similar to an electronic briefcase or giro account where cryptocurrencies are “stored” after a purchase.
Therefore, it’s just not possible to own “real” coins without a wallet. Incidentally, a wallet may be referred to as a “coin wallet” at Verge. Those interested can choose from the following wallets: Android Verge, Verge OSX Electrum for MAC, Verge Tor ISX Electrum, Cerge Windows Electrum and Verge Linux Electrum.
Once a wallet has been set up, Verge currency can be acquired. In addition to receiving coins, your wallet can also be used for the transfer of funds. A Verge transfer is basically just like any other bank transfer.
The only difference is that a wallet uses a receiving address instead of an account number. Since Verge cryptocurrency – as well as others – is traded without an intermediate phase, the fees incurred are very low.
If you have bought Verge on different platforms, this digital currency can also be kept in a wallet. A wallet function can be set up on a smartphone, as well as on a PC or tablet. After the wallet app has been downloaded and installed, security access is via a password, known as a “passphrase”.
Verge Network Technology
With its emphasis on anonymous transactions, Verge uses the Tor and i2P networks, making it impossible to trace IP addresses. Verge wallets are compatible with different operating systems, and the TOR Android Wallet even offers mobile anonymity.
“Simple Payment Verification” (SPV) is designed to significantly reduce the duration of transactions. A payment confirmation is available after five seconds, whereas blockchain downloads can take around 30 seconds. The system uses the Bitcoin blockchain, supplemented by a “multi-mining algorithm”, which increases the speed of the network.
This Verge cryptocurrency feature is also referred to as “black paper”. Since its introduction, the developers’ primary focus has been on concealing the receiving address. In addition, Core Wallet 3.0 has been released and Tor integration is constantly being improved.
Verge Cryptocurrency: Trading and Price Trends
The purchase of Verge and other digital currencies takes place via crypto exchanges. The best known of these are BITNET, CEX.IO, Kranken and Bitstamp. However, in order to buy cryptocurrencies on these exchanges, a supply of Bitcoin or Ethereum is usually required. These can then be exchanged for other cryptocurrencies.
The price of Verge cryptocurrency was initially quoted at almost zero euros. It was not until May 2017 that the price gained in value for the first time. At that time, the price rose to five cents. However, just like almost every other cryptocurrency, there was a definite fall-off in price.
Until September 2017, the price stood somewhere between 0.2 and 0.3 cents. Then in September 2017, Verge gained value enormously. The price, which initially stood at 0.25 cents, rose to more than 0.6 cents per coin, before slowly increasing further. In December 2017, the price then rose significantly to 1.5 cents per coin.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.