Cryptocurrency Verge is an old-timer of the cryptocurrency market, which was actively talked about only last winter. Recently, the coin survived hardfork, which, unexpectedly for many, strengthened its position. Despite the low cost, Verge’s capitalization is growing rapidly and far-reaching developers are drawing new investors to the project. Let’s try to figure out whether to add Verge to your cryptocurrency portfolio for 2018!
What is Verge cryptocurrency?
The history of Verge began in 2014. The cryptocurrency was called DogeCoinDark and was only one of the attempts of unknown developers to create another improved version of Bitcoin.
The Black Paper project lists the main cryptocurrency developers CryptoRekt, Gfranko and Sunerok. There you can also find two dozen aliases of other people involved in the project.
The founders contact the rest of the community and look for new specialists through the GitHub service. So, in principle, any talented programmer who supports the values of Verge can join their team. The main value of the project is the anonymity and security of all network participants.
It is noteworthy that, unlike many other cryptocurrencies, ICO was not even conducted to launch DogeCoinDark. The developers created a branch from the Bitcoin blockchain, invested their money in the project and mined the first coins themselves.
So far, the complexity of mining allows the use of simple equipment for the extraction of the XVG. However, the greatest profitability gives ASIC mining. Experienced users share recommendations
Separate programs for the extraction of XVG don’t exist yet. They are selected under the installed equipment. For example, CCminer v.2.2.2 is suitable for mining on NVIDIA video cards.
The official site Verge presents a complete list of sites where you can purchase XVG (section “Get Verge”). It lists both cryptocurrency exchanges and exchangers that are recommended by the project founders themselves. These include online services ExchangeD, Changelly, NovaExchange and NexChange.
Thus, there are already 9 versions of cryptographs for storage XVG. The most convenient and reliable experts call the purses of the Tor Electrum Wallet line. Soon the tenth wallet should appear – Apple iOS Wallet.
For example, many users can not figure out where to get the address to which funds can be credited to the wallet. It is in the “Receive” section. Click on its icon and see a string with a combination of letters and numbers. This is the address for crediting coins.
How and why did the cost of Verge cryptocurrency change?
The cost of Verge was only 0.000006 dollars from October 2014, when the coin was just born and until April 2017. The market capitalization of cryptocurrency totaled slightly more than 20 thousand dollars.
The project developed very slowly. The main team often changed employees, reworked the official website several times, searched for investors for a long time and raised funds to enter the market.
The developers managed to increase the cryptocurrency capitalization at the expense of their own funds, investments from interested companies and donations from ordinary users (the section “Donate” is still functioning on the website for their collection). In addition, the coin appeared on top exchanges of the level Bittrex and Binance.
However, decisive importance was the practical application of the token. Many online resources (shops, IT services, TV channels, payment systems, and so on) have begun to implement Verge’s blockchain technology and even accept XVG to pay for their services. There are already more than 80 such resources. A complete list of them can be found on the official website of the project (section “Vendors”).
The market capitalization of cryptocurrency exceeded 600 million dollars in November. The coin reached its historic high – 15 cents per 1 XVG in December.
Experts note that a sharp jump in prices occurred just a day just after the famous programmer and businessman John McAfee made a tweet in which he mentioned Verge. He called his top 3 most promising cryptocurrency ZCash, Monero and Verge.
Many were surprised that McAfee put a little-known and cheap coin on a par with top altcoins. The network even began to appear retweets with the assumptions that the entrepreneur, known for his keen interest in cryptocurrency, mistaken the list and put Verge in the wrong place.
The next day, the price of the coin went up sharply. Tweet McAfee began to spread on the Internet and quickly made Verge not only recognizable, but also popular (at least in the network) cryptocurrency.
Analysts attribute the drop in prices to the general trend in the market and the presence of serious competitors, whose success blocks development opportunities for Verge. For example, ZCash also focuses on the anonymity of transactions, but has great support among traders. It costs 650 dollars, not a couple of cents.
However, Verge began to show an upward trend again in April. Increased interest in cryptocurrency was caused by successful contracts with well-known companies.
For example, UQUID will now issue debit cards with XVG support. Took a token in the payment system TokenPay. Management is even considering the possibility of issuing their own cards for the XVG.
At the beginning of the month, online publications appeared about the upcoming collaboration with Amazon. The developers themselves have not commented this information in any way, but promised that some news will be reported next week, which will mark a new stage in the development of Verge.
Such a statement fueled the interest of the public in cryptocurrency and, at the time of writing, XVG is already trading at 8 cents. The market capitalization is 1.2 billion dollars. So now Verge is ranked 20th in the Coinmarketcap world ranking. By the way, ZCash with an indicator of 650 million dollars is 9 lines lower.
Should I invest in Verge cryptocurrency?
Despite the slow development of the project, most experts positively assess Verge and cite 5 arguments in favor of the long-term success of cryptocurrency.
Most importantly is that developers are going to add the function of smart contracts in the near future. If this happen, Verge will be the first cryptocurrency with anonymous smart contracts.
Be that as it may, analysts are confident that the coin will soon enter a phase of active growth. Already, the daily increase in the value of XVG is almost 20%. According to forecasts, by the end of the year the price will rise to at least 2.5 dollars. Each dollar invested will bring about 30 dollars of net profit in this case.
Many experts call Verge an unfairly undervalued coin and advise adding XVG to your cryptocurrency portfolio. The coin is ideal for medium and long-term investments. Playing on the course, while it fluctuates within a few cents, it simply does not make sense.
