There are projects like Verge that have a lot of potentials to revolutionize the crypto area, as more and more investors are showing their interest in it. Verge has joined the competition of hundreds of cryptocurrencies fighting its position to be named as the top cryptocurrency. This article will go over the facts of what Verge is and how to convert XVG coin via Swapzone.
Verge can be defined as a privacy-focused cryptocurrency that targets to maintain their transactions untraceable while giving the option for good throughput and quick processing times. This cryptocurrency is completely open-source and community-led. Verge does not have any sort of organization that is present behind its name. The higher authorities at Verge had signed the black paper using just their usernames. The team at the Verge keeps privacy, and decentralization as their top priority.
Initially, the coin started in early 2014 and was named as DogeCoinDark. However, in 2016, the team at Verge wanted to set themselves apart from the Doge meme as well as the negative connotation of “dark”. Hence why they had decided to change the name from DogeCoinDark to Verge. Over the past couple of years, Verge has proven that it is capable of mass adoption and is leading in that direction as well.
There were numerous points that Verge has covered during its development. These key points truly helped it move further towards achieving its end goal of becoming the top crypto coin. It consists of a few things which add credential to its name.
The main aim is to protect users meta data (IP, location, wallet type, etc) while offering public transaction by use of built in Tor network. The user will get to experience fast and quick processing of their transactions, yet stay private.
Verge makes use of the electrum wallet, although this was originally developed for Bitcoin. Electrum is capable of running both Tor and I2P integration. It further ensures that the user is getting a safe and protected storage of tokens. If the user desires to send XVG, they can simply do that by signing the transaction via their private key offline. After this is done, the user will be able to broadcast their transaction from any computer which has no accessibility to the user’s private keys.
Verge is considered to be one of those small amounts of projects that are constantly on the lookout to try and test out different multi-algorithm consensus. This multiple testing points finger at the fact that they can exchange XVG in five different methods. Each algorithm is based on proof of work. Although, there are a couple of people who prefer ASIC hardware while others favor GPU compatibility.
XVG coin was released without a pre-mine or an ICO. The team had decided to purchase Verge coins, something that would be very common for other coins to do as well.
As of now, Verge stands in the top 30 cryptocurrencies in the world. Multiple large exchanges have listed it such as Binance and Bittrex.
With the rising popularity of Verge comes the need to convert to Verge with numerous different cryptocurrencies. For such conversion, using Swapzone will help a lot with easy transactions and quick processing. It aims to make things much easier for its users. It lists a range of options for users to make the whole process more convenient. Swapzone has built its reputation for being a reliable and credible exchange partner in the user fraternity.
The team at Verge plans on making several additions and modifications to their current interface that would increase the potential of Verge and make it compelling as an entirely private solution.
Beginning in 2018, Verge aimed to give out support for the atomic swaps to the main coins. For the atomic swap to work, hash-locks and time-locks are used which freezes the tokens on one blockchain in return for releasing the tokens on a different blockchain. The team at the Verge believes that interoperability is the ultimate solution for the platform to become a go-to security provider.
The Rootstock project has made multiple plans on adding a sidechain to the Verge which will be capable of handling smart contracts. This way it will completely be comparable with Ethereum. Rootstock has further stated numerous times that they have been able to issue a breakthrough in smart contract scalability. They aim to reach their goal of 2000 tx/s by making use of off-chain settlement solutions.
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.