Today, mining cryptocurrency has become extremely difficult. Only those with deep pockets are able to accumulate enough hash power to solve blocks and reap the rewards. Unfortunately, this has made mining somewhat of a centralized activity where a majority of the mining power is consolidated and under the control of a few large mining entities. Vertcoin was created as an attempt to solve this issue and keep mining easy, decentralized, and mineable by any standard mining hardware.
In this Vertcoin review, we take a look at what Vertcoin is, its history, key features of the project, and how you can make a Vertcoin swap at the best rates. Let’s dive in.
According to Vertcoin’s official website, Vertcoin is “a decentralized currency owned by its users”. Simply put, Vertcoin is an open-source cryptocurrency that strictly focuses on decentralization. When you compare Vertcoin to Bitcoin, you’ll discover that there are some similarities between the two, such as they both use PoW mechanism to issue new coins. However, unlike Bitcoin, Vertcoin’s blockchain is ASIC-resistant and thus, dedicated to keeping its mining functionality decentralized.
At the moment, not a lot of information about Vertcoin history is available. Initially, the official Vertcoin website had a team page up but it has since been taken down. All that’s known is that the project is largely volunteer-based. From the onset of its launch in 2014, Vertcoin used a completely new approach by not conducting an ICO, an airdrop, or even a pre-mine. Vertcoin’s goal was to put the Vertcoin community front and center with a keen focus on decentralized mining. Also, they did not want to give any individual or group of individuals any advantage through early access to Vertcoin before the general public had access.
When it first started in 2014, Vertcoin’s blockchain employed the Scrypt-N algorithm to reach its Proof-of-Work consensus. However, when ASICs that were specific to Scrypt-N surfaced, the team behind Vertcoin had to start again from scratch. They later cooked up the Lyra2RE algorithm, which caused a fork from the original Vertcoin on December 13th, 2014. The new algorithm enabled having “more leverage against ASICs”.
Since then, the blockchain has upgraded to Lyra2Rev2 thus creating another hard-fork on August 10th, 2015. This upgrade came after a botnet managed to take control of over 50% of the network’s hashing power. After that, Vertcoin has undergone a few changes with the latest algorithm update switching from Lyra2Rev3 to the new VertHash algorithm. Let’s take a deep dive into the new Vertcoin algorithm below.
VertHash is a newer memory-intensive algorithm that’s similar to Ethereum’s Ethash. It ensures the maximum distribution of the Vertcoin hashrate. The main reason why Vertcoin adopted VertHash was to bring mining back to the hands of GPU miners. Therefore, the oldest GPUs can actually be brought back to use. Though you will have to double-check on what actually works in order to fully maximize your mining rewards.
Anyone with a GPU with at least 2 GB of memory can mine VTC coins without any hassle and get paid in whatever altcoin you prefer. Some of these altcoins include:
If you wondering how you can do this, here are some resources that can help you get set up Vertcoin mining and getting paid in any of the above coins.
Some of the key features of Vertcoin include:
The one-click miner is a downloadable software that’s available on Vertcoin’s official website. It is so simple and easy to use that it has been dubbed the “people’s mining program”. All you have to do is simply download it, let it generate the Verthash datafile and then it will immediately start mining Vertcoin. After this, you’ll be able to start mining Vertcoin. The new 1-click miner functions as a wallet and automatically selects mining pool and GPU (CPU mining is supported through integrated graphics as well).
Thanks to VertHash, you can mine Vertcoin, all while you are gaming. All you need is to have the Vertcoin one-click miner installed onto your computer. You can access the latest 1-click miner on Vertcoin website. Once you start playing, your hashrate will be automatically adjusted to the load related to your current game. Here’s a resource that can help you get started with ease.
If you are a speculative trader concerned about the Vertcoin future, you came to the right place. According to CoinMarketCap, Vertcoin’s price as of August 2021 stands at $ 0.5736. The overall Vertcoin industry has a market cap of $35,151,162 and a 24-hour trading volume of $392,754. With that said, here are a few statistical outlooks on Vertcoin price prediction:
DigitalCoin also believes that the VTC price will rise to $1.9945871 within the next 5 years. The future prices of Vertcoin are expected to hit a new high of $0.8504974 in the last quarter of 2022.
According to the VTC price prediction of CoinFairValue, Vertcoin has its P/FV at 0.26 as of August 2021. This is the lowest factor among all the coins. Since the P/FV ratio measures the growth expectation of the coin use. In simple words, it means that the coin with lower P/FV ratios is expected to grow in value faster. The P/FV ratio is alike to P/E ratio in traditional stocks, and the value equivalent for 0.26 is 3.9 in this case.
If you are looking for a Vertcoin swap platform, Swapzone is the best Bitcoin to Vertcoin swap available in the market today. It shows you the results for the top-most cryptocurrency exchange platforms for you to conduct your Vertcoin swap.
Here’s a detailed guide on how you can swap Vertcoin crypto on Swapzone:
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.