Verge XVG – There is a trend forming in crypto that many investors have not yet noticed. And that’s the increased centralization of the crypto exchange market. This in turn is giving governments increased control over the crypto market, through taxation and other regulations, which may not necessarily be good for cryptos.
Just yesterday, it emerged that Bitfinex, one of the world’s largest cryptocurrency exchanges, will now require investors to self-verify for tax purposes. This information will then be handed over to the government for tax compliance purposes. This doesn’t come as a surprise to many because it is increasingly becoming the norm, but it might hurt the crypto market in the long-run.
The likely outcome is that money will either start flowing out of crypto, or it will move into privacy coin. Chances are that the latter will happen. That’s because no matter how highly speculative and risky it is, the crypto market is still more lucrative than traditional markets. As such, the desire to make money will keep investors in crypto, but volumes will most likely shift towards privacy coins going into the future.
One of the privacy coins that stands to gain from a shift towards privacy coins is Verge (XVG). That’s because it is highly undervalued at the moment after a massive drop in April. The drop was not based on any fundamentals, but on emotional selling. It came after XVG announced a partnership with PornHub after keeping the market waiting for a “major announcement.” People sold because they were expecting a more conventional partnership. However, what most people don’t realize is that the PornHub partnership actually gave Verge a use case, in one of the industries where it is needed most. Verge is also working on several other partnerships that will serve to increase its use case value in the market.
Besides, Verge (XVG) is one of the better-known privacy coins in the market, in a highly crowded market. On this basis, Verge is likely to see an upsurge in demand together with a few others, like Monero (XMR) and ZCash (ZEC). It also has an added advantage of cost over its established competitors in terms of cost. Verge is currently trading at pennies, while the likes of Monero are way above $200. In essence, for most small investors looking to invest in privacy coins, Verge will offer the best alternative.
Verge has also received a massive boost to its credibility by getting added to the list of top cryptos by the Chinese ministry of information. Under this ranking, Verge is at the same level as bitcoin. This will draw in more investors since it creates the impression that the Verge is technically superior to many other cryptos available in the market at the moment.
It is therefore, a no-brainer that 2018 could be the year that XVG and other privacy coins head to the moon. At today’s prices when everything is in the red, savvy investors can get Verge (XVG) and other privacy coins at a massive discount.