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Verge (XVG) is a privacy cryptocurrency developed with a focus on secure and anonymous transactions. Originally founded as DogeCoinDark in 2014, Verge adopted its current name in February 2016. As of February 2018, XVG is one of the top 50 cryptocurrencies by market capitalisation.
The success of other privacy coins has shown that there is market demand for anonymous cryptocurrencies, but is Verge well placed to take advantage of those potential opportunities? Let’s take a closer look.
Learn more Where to buy Verge (XVG)
Coin name | Verge |
Symbol | XVG |
Algorithm types | Scrypt, x17, groestl, BLAKE2s and lyra2REv2 |
Mineable | Yes |
Launch date | 2014 |
Cryptocurrencies have a reputation for volatility and are capable of experiencing both rapid price rises and falls in relatively short timeframes. They’re also highly complicated assets, and there are several factors that can have an impact on the value of any coin or token.
With this in mind, it’s crucial that you carefully consider all the risks and potential benefits associated with any cryptocurrency before buying. So if you’re thinking of buying Verge, remember to consider the following:
When attempting to predict the future price movements of any cryptocurrency, it’s important to take a look at the future upgrades, improvements and releases planned by the development team. The Verge project roadmap reveals the following upcoming milestones, all scheduled for the first quarter of 2018:
Verge faces stiff competition from a number of other coins designed to offer privacy and anonymous transactions. These include the following:
You can find out more about how some of these currencies work in our comparative analysis of privacy coins.
In the emerging world of cryptocurrency, accurately predicting the future is impossible, so it’s extremely difficult to say with any certainty what lies in store for Verge beyond 2018.
On the plus side, there is undoubtedly demand within the cryptocurrency community for privacy coins, and if Verge can achieve a higher level of acceptance then there’s certainly plenty of potential for growth.
However, there are two major factors causing uncertainty around where the price of Verge will be headed in the years ahead. The first of those is the double-edged sword of regulatory changes, which, depending on your point of view, could offer benefits or serious risks to all privacy coins.
The second factor is market competition. The privacy coin sector is a crowded one and there are several currencies in direct competition with Verge, so it’ll be interesting to see how the landscape changes in the next 12 months.
Verge is a project that has potential and a number of factors in its favour, including the popularity of privacy coins, listings on several exchanges and ongoing development. However, currencies that provide anonymity always run the risk of becoming associated with illicit transactions. Verge also faces stiff competition from several other privacy coin projects.
With this in mind, it’s essential that you carefully research all the pros and cons of Verge as well as the factors that could influence its price moving forward before deciding whether to buy any XVG.
Images: Shutterstock
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