The first question anyone has about the world of cryptocurrency is “What is Bitcoin?” But experienced traders today know first hand about how money can be fragile.
Introduced in the cryptocurrency market originally in the year 2014 as Dogecoin, Verge (XVG) is defined as completely private or anonymous cryptocurrency coins whose transactions cannot be traced.
Since December 2017 when the coin was trading at around $0.0055, the Verge price grew to $0.085 in the same month before hitting an all-time high of $0.269, thus marking a massive 800% rise in a single month.
Although it is yet to measure up to the older coins of the crypto-market trying to solve transactions, e.g. Golem Coin, depending on its uncertain application potentials.
Currently trading at $0.028 with a market cap valued at $431 million, investors must be wary of both the pros and cons before investing in this digital coin.
Verge coin – Pros
Listed below are the pros of investing in Verge:
- Coin supply
Cryptocurrencies with a limited number of mined coins offer good investment potential in the long run. Verge has a coin supply limit set at 16.5 billion mined coins, which is far more than the limit of 21 million coins for Bitcoin. With an increasing demand for coins, the coin value is expected to jump higher.
- Simple Payment Verification (SPV) technology
While most of the established digital currencies are experiencing a drop in their transaction speeds, Verge has managed to avoid this through their Simple Payment Verification technology that enables ultra-fast transactions with average durations under 5 seconds.
- Open-source platform
Verge is designed as an open-source platform with regular interactions between the development team and the external Verge community. As compared to other cryptocurrencies, Verge does not function as a privately-owned company and offers complete transparency to its customers and investors.
- Cheap coin price
At the current trading price of $0.028, Verge offers good investment potential for investors ready to buy the coin at the current low price. Good investment returns for Verge investors are assured even if the coin value reaches the December 2017 levels.
Verge coin – Cons
Listed below are the cons of investing in Verge:
- Misuse for criminal transactions
With Verge offering completely private and anonymous transactions, it can be misused by criminals for illegal transactions, which can lead to many countries banning the trading of this cryptocurrency. To circumvent this problem, Verge is offering its customers the choice of either making their transactions public or keep them anonymous using high-security protocols like Tor, I2P, or the Wraith protocol.
- Unpredictability in the Verge coin price
Due to the short-term buy and dump policies of traders, the value of the Verge coin can be very unpredictable and volatile at most times. Industry analysts claim that this could be due the uneven wealth distribution among Verge investors, with an alleged 95% of the coin being held by a handful of Verge wallet addresses.
Despite being rated as a high-risk digital coin by industry analysts, some experts also suggest that price corrections for Verge will be for the short term and the currency has the potential to be rated among the best cryptocurrencies in 2018.
Just like any other cryptocurrency trading in the market, the Verge digital coin has its share of both pros and cons for investors. As an investor, you must weigh both these factors before deciding to invest (or not) in this cryptocurrency with excellent future potential.