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Buy Verge – Complete Guide
Since the launch of Bitcoin in 2009, over 1400 digital cryptocurrencies have been introduced in the crypto market. Among these is Verge (XVG) coin that dipped its feet in the crypto water in 2014. Originally known as DogecoinDark, Verge was created to make digital currencies’ transactions private and completely anonymous. The project is open-source and does not have real ownership. Both marketing and development suggestions are made by the crypto community.
For the last two months, XVG has been trending and moving higher on the media. It all started in April when the coin rose by 66% against the dollar. Several factors might have contributed to this including the new partnership with MindGeek, which enlists Verge as a payment mode for one of the most popular adult entertainment sites on the planet. This is considered a huge win for Verge as since the announcement, the value of the coin has skyrocketed rapidly.
How to Buy Verge?
Buying Verge is as easy as obtaining any other digital currency. However, the process may seem a bit different with Bitcoin, Ethereum, and Litecoin as these three can simply be acquired using fiat currency. XVG, on the other hand, cannot be obtained this way. One has to log into an exchange, purchase BTC, ETH, or any other coins that support fiat currency and exchange these for Verge.
The process may sound overwhelming but it is actually pretty easy. This article provides a comprehensive step-by-step guide on how to buy Verge coin, where to buy it and how to store it safely. If you want to increase your crypto portfolio with XVG, these three steps will help get you started.
Step 1: Setting Up a Verge Wallet
Before purchasing Verge, it is important to obtain a secure wallet to store and manage your newly purchased cryptocurrency. A wallet ensures quick access to your digital coins and keeps them safe.
If you are really serious about investing in cryptocurrency, then you must have a wallet handy, and especially when adding Verge to your investment where using an exchange is inevitable. However, to make sure that your coins are always protected from hacks and other cyber-attacks, get yourself one of the wallets we recommended earlier in the article. A private wallet is more secure as you have control of your private and public keys.
The most commonly used Verge wallets include Coinomi, Verge Electrum, and Verge QT wallet desktop client. Let’s look at each one of these briefly.
Coinomi is a digital wallet designed for people who wish to store and manage crypto coins on their mobile devices. The wallet supports multiple cryptocurrencies including Verge. It is reputed for its security, privacy, ease of use, and ability to perform nearly instant exchanges between cryptocoins. To get started with Coinomi just download the app for free on PlayStore (for Android users) or iTunes (for iPhone users). Once everything is set up, you can start sending and receiving payments at your convenience.
Verge Electrum >>
The Verge Electrum is another wallet solution that allows users to perform easy and quick transactions. It is an open source project that primarily focuses on speed and low resource usage. Unlike Coinomi wallet, this one operates purely on a Windows computer. To set it up, visit Verge’s official website and download the app.
Verge QT Wallet Desktop Client >>
Verge QT wallet is a digital coin storage designed for desktop computers. When setting it up the wallet downloads the entire blockchain data and stores it in C directory of your local machine. The only downside about this is that downloading the blockchain takes time and you have to wait until everything synchronizes. However, once things are up and running, you can send and receive funds easily and safely, whether you are connected to the internet or not.
If you have decided to buy Verge, above are some of the wallet options to consider. Each one is easy to set up and maintain and ensures that your private keys never leave your device. Once you have installed any of them, you will receive a recovery phrase that acts as a backup for your wallet. Make sure to keep this safe, as it is what you would use if your wallet got lost or stolen.
Step 2: Buy Some BTC\ETH
As we mentioned earlier, the best way to acquire Verge is by trading other cryptocoins for it. One of the best and easiest ways is exchanging BTC/ETH to Verge through exchanges. CEX.IO offers such services whereby investors can buy Bitcoin or Ethereum safely, quickly, and at minimal transaction fees. You can easily acquire BTC/ETH via credit card or direct bank transfers as these are the payment methods supported by the platform currently. Paying for your BTC or ETH on CEX.IO via bank transfer is free. However, if you are using a credit card you will be prompted to pay a small fee.
To get started with CEX.IO, you need to create an account, which should be linked with your payment card. Your credit, debit, Master or Visa card information is needed, as this is what you will use to fund the exchange account. Once your account is verified, you can purchase your BTC/ETH instantly at the existing market price or select your preferred coin price from the trade page. Your coins will automatically be deposited to your CEX.IO account immediately after the purchase. Find a comprehensive guide on how to buy Bitcoin and how to buy Ethereum here.
Step 3: Choose a Verge Exchange
After we have a wallet and some cryptocurrencies, which is all we need to get Verge. We can now look for an exchange and trade our Bitcoin/Ethereum for Verge. Let’s see what some of the most common exchanges that support Verge crypto.
Launched in 2017, Binance has surprisingly become one of the most popular crypto exchanges today. Its reputation could probably have risen from the low transaction fee it offers to its customers and its ability to support over 200 digital coins. Some of the digital currencies supported here include Bitcoin, Ethereum, Verge, Dash, EOS, just to mention a few. All these coins can be traded against BTC or ETH. Binance does not allow fiat transactions, thus you need to load your account with cryptocurrency. In our case, for instance, we have already acquired Bitcoin/Ethereum. Hence, we will deposit this to our Binance account and exchange for Verge. Once you have your XVG, you can store it safely in your Verge wallet.
HitBTC is yet another reputed crypto exchange that has been in business since 2013. HitBTC allows you to buy Verge cryptocurrency using BTC, ETH, and USDT. Apart from Bitcoin, Ethereum, and Verge, HitBTC also provides support for other 150+ cryptocurrencies. To start trading, you need to fund your HitBTC account either with crypto or fiat currency. Then use these to purchase Verge and transfer the newly bought coin to your wallet for safe storage.
Our last exchange recommendation is Cryptopia, a New Zealand company that has been in the crypto space since 2014. The platform allows traders to exchange more than 500 digital currencies including Verge. You can get XVG in exchange for BTC, DOGE, LTC, or USDT. Cryptopia is popular for its low transaction fee and security. It is also one of those few exchanges that have a marketplace where you can buy and sell items using crypto.
Best Verge Exchange
So, there you go! Three different crypto exchanges where you can buy XVG. Which one do you think sounds great? While some people prefer low transaction fees, others love a service where they can make use of the real-world currency. So, think hard before picking your option. If you are looking to exchange other cryptocurrencies for Verge, you can go for Binance or Cryptopia, or better still stick with HitBTC. Nevertheless, all these exchanges will make your Verge buy quick and easy. Their security is good, trading volume amazing, and transaction fees low, which makes all of them the perfect Verge exchanges for beginners.
Step 4: Storing Verge Safely
If you have read Step 3 to the end, you must have noticed our emphasis on transferring your Verge coins from the exchange to your wallet. This is not by coincidence. Leaving your XVG or any other coin in an exchange platform is extremely dangerous. It is the reason why we actually had the first step where we listed the various digital wallets that can be used for storing your Verge coins safely.
There are various risks associated with exchange platforms. For starters, an exchange can be hacked. Though cryptocurrency has not been on the market quite long, in that short time, we have heard some high profile attacks on exchanges. For instance, Bitfinex, a major Hong Kong-based company, experienced a major attack in 2015 whereby hackers got away with over 120,000 Bitcoins. That was not all.
In the same year, Bitstamp, another crypto exchange based in Slovenia lost about 19,000 Bitcoins the same way. Coinbase has been hacked a number of times too. These attacks and many others that have been making headlines for years have cost traders every coin they had invested on those exchanges.
Hacking aside. Who knows whether the exchange won’t go bankrupt? What if it disappears with your money? Even in this day and age, we are still having trouble entrusting banks with our money, so why should we trust an exchange with which we are not even legally attached? If something happens to our investment, there is nothing we can do about the exchange except regret.
When transacting on an exchange, you have your private keys exposed to a third party, which means the transaction is less secure and really not anonymous. Remember, the whole idea of Verge and any other crypto coin for that matter was to make payments completely safe and untraceable. So don’t you think by leaving these coins in an exchange is cheating the primary objective of digital coins? We advise moving your XVG coins from an exchange to a wallet as by doing so, you have control over the private and public keys.
Like the sound of Verge? Then we believe you must have figured out the best exchange to buy it from and the most efficient wallet to store it. The future of Verge looks bright. Actually, by taking the blockchain technology and making improvements to its safety and privacy features, Verge users are now enjoying improved anonymity and privacy, something Bitcoin users are still concerned about.
The XVG project team has already made a solid ground. With the currency providing faster and impressive transaction times than BTC, and more vendors accepting Verge as a mode of payment, the value of the coin is likely to increase. We have seen an impressive growth on the coin in the past months already and if BTC is not careful, Verge may become a huge threat to it in the near future. Just follow the simple process we have laid out above and acquire your Verge coins.
Thank you for reading our guide. Keep visiting our website for more guides on how to buy cryptocurrencies.