How to buy Verge token online
This page is a guide to Verge and XVG tokens. We explain how to buy Verge tokens, the pros and cons of the platform, and the key things you should consider when buying or trading.
Compare where to buy Verge, and open an account
If you want to get involved and buy XVG tokens now, choose one of the brokers in the list below; they have been carefully selected by our internal team because of their good service and low fees. If you aren’t ready to buy yet, read on.
What is Verge?
Verge is a crypto network that intends to provide totally anonymous everyday transactions by concealing the IP address and location of each user. The platform’s native XVG token is a privacy coin and can be used for payments like booking hotels, flights, and even for topping up your mobile device.
While one of the major advantages of blockchain technology is privacy, it is not foolproof, so Verge’s commitment to complete anonymity is unique. Originally created in 2014 as DogeCoinDark, it rebranded to Verge in 2016. The anonymous founder of Verge, Sunerok, appreciated the value of Bitcoin but felt that it failed to provide anonymity to users.
How does Verge work?
Verge works by routing the information of its users through 2 different middlemen to obfuscate the IP address and personal information such as location. The first option is Tor, or the Onion Router. This is a peer-to-peer network that functions as a middleman between your IP address and the Verge blockchain. It uses multiple servers to constantly change the IP address sent to the Verge network.
The other option is called I2P, or the Invisible Internet Project, which is like Tor but regarded as even more anonymous. With this option, both outgoing and incoming messages use individual paths, so it is like reading a message thread and you can only read messages from one person.
XVG works as Verge’s in-house token, and users can use it to make simplified digital payments through the vergePay online service and app, and they can also store it in a vergePay wallet, making it easily accessible for everyday use.
How to buy Verge online – a step-by-step guide
Step 1. Find an exchange to buy XVG
The best place to buy Verge tokens is on an exchange. These large marketplaces for cryptocurrencies make buying crypto accessible. We have reviewed many exchanges on our website, but to make your life easier, we have listed two of the best places to buy XVG tokens below:
- Bittrex: We are big fans of the service Bittrex offers, and its clean interface is both easy-to-use and powerful enough to satisfy discerning and experienced investors. Sign up with Bittrex and buy XVG now >
- Binance: You can’t really go wrong with the largest exchange based on trading volume. Binance supports a huge number of coins, including XVG. Join Binance and purchase XVG tokens >
Step 2. Sign up and fund your account
Every exchange needs you to create an account before executing a trade. This process is straightforward and involves providing a copy of photo ID and some contact details for verification purposes.
Then, you can fund your account with a fiat currency or even a crypto like BTC. Simply choose the fund you want to deposit and you’re good to go.
Step 3. Buy XVG
When buying XVG on an exchange, look for the relevant currency pair. For example, if your account is loaded with GBP, find the XVG/GBP pair, enter the amount you want to transact and execute your purchase.
Step 4. (Optional) Get a suitable wallet
If you plan on holding your XVG tokens for a while, a wallet is definitely something to consider because it will protect your coins from theft and online attacks. However, it is worth noting that if you plan on moving your XVG around frequently, you might be better of jut storing them in your exchange account.
To help you make a decision, here are two of the best XVG wallets:
- CoolWallet: CoolWallet is a very popular crypto hardware wallet that supports a huge number of coins. If you want physical security for your tokens, it is an option you should seriously consider. Get a CoolWallet for storing your XVG >
- Guarda Wallet: In both website and app form, Guarda serves as a reliable and highly accessible option for the busy crypto user. Open a Guarda Wallet for your Verge tokens >
How to trade Verge – a step-by-step guide
Step 1. Find a broker
For those that want to trade quickly and often, they will be opening and closing trades at a rapid pace to take advantage of market fluctuations. Brokers are the most popular service for this purpose because they make it hassle-free.
We have listed plenty of options above, but not all of them support XVG. In fact, because it is still a niche crypto, not many brokers have yet added it to their inventory. With this in mind, check out two of the major brokers like eToro or Plus500, because if anywhere is going to support XVG, they are the most likely.
Step 2. Deposit money
Just log into your broker account and add fiat money (GBP, EUR or USD). Just make sure you keep an eye on the trading fees you are paying because if you don’t pay close attention, they can quickly add up.
Step 3. Decide how you’d like to trade
Coming up with a strong technical trading strategy is key to your success when trading XVG tokens. You can use things like CFDs and leverage as methods that drive your strategy too, but make sure you know exactly where you stand before executing a trade.
Step 4. Start trading
We recommend a demo account to inexperienced traders who want to get a taste of trading XVG with no risk to their capital. This way you can learn about market dynamics without losing money.
When trading Verge tokens, you can either take up a long position or a short position, and both can be effective strategies if deployed at the right time in the right circumstances. Keep a close eye on market developments to identify when to go long and when to go short.
In addition, you can use something called leverage to increase your exposure to the price of XVG, but this also applies to potential downtrends, so be careful. However, you choose to trade XVG, never invest money that you can’t afford to lose.
It is always a good idea to take your time when pondering an investment. To help you make a decision, here are some of the pros and cons of verge.
- Anonymous transactions
- Transactions are easy and accessible via website or app
- Safer and less prone to security breaches
- Open-source platform means anyone can have their say
- Simple Payment Verification (SPV) technology
- Potential for misuse by criminals
- Like other cryptos, XVG is very volatile
If you still aren’t ready to invest in Verge, here are some final things for you to ponder before making your decision.
1. Is it a good time to buy XVG?
The answer to this question entirely depends on your personal circumstances and financial goals. If you are a big believer in the anonymous payment service that Verge is offering, and you want to get in early before the price rises, buying now could be a sensible move. Just make sure you conduct extensive due diligence before parting with meaningful amounts of capital.
For short-term traders, this long-term vision of Verge’s development and success is not as important. Instead, focus on the current price of XVG and try to buy low and sell high based on technical analysis and indicators.
However you go about this, keep informed about Verge and XVG coin by reading our latest analyses:
2. What problem does Verge solve, and what are the coin’s investment prospects?
Verge makes cryptocurrency payments totally anonymous, something that hasn’t been accomplished by major platforms like Bitcoin. If the platform can cement its status and secure increased adoption, the price of XVG should rise.
Make sure you understand the volatility of XVG before buying into it because this can quickly bite you if you aren’t paying close attention.
Now you understand the investment prospects of Verge, check out the latest news concerning the platform and see if anything should influence your decision:
Verge (XVG) surfers reorganization attack losing six months worth of data
3. Do you want to hold Verge for the long term?
It depends on how you want to invest or trade. For long-term investors, XVG could offer a price increase as Verge becomes used more ubiquitously. For short-term traders, the level of volatility could create real opportunities for profit.
Considerations for a long term investment strategy
If you expect the value of the XVG to go up in the future, choose an exchange to buy some tokens. Also, consider opening a wallet to store them securely.
Considerations for a short term trading strategy
If immediate results are on your mind, buy Verge with a reliable broker and sell it for a better price using technical analysis. Make sure to keep a close eye on rapid developments because these can quickly affect the price of XVG.