
Get exclusive money-saving offers and guides
Straight to your inbox
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Verge is a cryptocurrency primarily focused on two types of advantages:
This is our quick guide to just one way to buy XVG. Compare some other options in the table below.
Verge (XVG) is designed to offer completely private and untraceable transactions where desired, similar to the successful Monero cryptocurrency. But for an extra edge, it also offers a range of distinct features:
Through a Tor or i2P wallet, users can quickly and easily send encrypted transactions and communications on the Verge network.
This essentially involves running encrypted transactions through a chain of Tor relays in a randomly selected way. On the way, the encrypted wrapper of each transaction is only decoded just enough for a Tor relay to identify the previous link in the chain and the next one, then each relay will re-wrap the transaction before sending it on.
Verge’s main strengths might be its flexibility and first-ever features. For example, Virge is one of the first cryptocurrencies to use Wraith Protocol to let its users decide whether they want to have their transactions kept completely private, or recorded on a transparent and public ledger.
Previous high-security cryptocurrency successes like Monero (which has reached highs of over AU$450) have shown that there’s a clear demand for currencies that offer extra-secure and completely private blockchain transactions.
However, Verge has also taken steps to enable quick and wide uptake, by being relatively user-friendly with its features, offering the choice of transparent and public-ledger transactions where needed. Its unique multi-algorithm mining is also likely to help with early adoption, getting a wider pool of potential users involved more quickly, while simultaneously offering a more secure and durable network.
Verge could potentially see very rapid uptake across an exceptionally wide user base, especially after the introduction of Rootstock smart contracts.
The value of XVG is also likely to benefit from atomic swap functionality when available, as users on other chains can quickly swap bitcoin (BTC) to XVG in order to take advantage of its high security transactions.
However, Verge might not be designed to hit the astronomical prices of other coins. Supply is capped at a high of 16.5 billion XVG, and it has a relatively fast half-minute block time. Furthermore, the lack of transparency can go both ways, and the lack of information on existing owners could turn off some speculators.
But more importantly, Verge is still under development. It has yet to perfect its privacy measures, and there might be challenges involved in bringing in new features. Also, atomic swap stands to change the entire cryptocurrency topography. Any Verge price predictions made before its release will not necessarily hold true.
Verge is an extremely forward-looking cryptocurrency which might do very well in the future, but there are never any guarantees. The further ahead you plan, the more potential there is for things to go wrong in the meantime.
If you buy Verge (XVG), it might be worth keeping a close eye on its developments.
Check out our Best Verge wallets guide for storing XVG
Image source: Verge
Confused about DeFi? Find out how it works in this easy-to-read guide.
How it works, the problems it solves and how and why Cambodia's upcoming CBDC uses blockchain.
If you want to buy cryptocurrency without ID in Australia, find out everything you need to know in this guide on how to buy bitcoin anonymously.
Get a simple explanation of how Grin's Mimblewimble privacy does, and doesn't, work.
Read the Gemini cryptocurrency exchange review to walk through its features and see how it works.
Meet the world's newest fully-automated decentralised online marketplace.
Find out how to buy ALGO in Australia, which exchanges support it and how Algorand works.
Learn where to buy ATOM, the Cosmos blockchain’s native token.
Read our Cointree cryptocurrency exchange review to find out how it works and what you need to know before signing up.
Check out with step-by-step guide on how to get started with Aeon. Find out how it works, where to buy, and so much more.