The cryptocurrencies, though have been faced with a lot of resistance since inception, are becoming more popular in the world as payment solutions e.g. Ripple, as stores of value e.g. Bitcoin and as currencies.
The journey for cryptocurrencies in general has been rough in 2018 for several reasons ranging from SEC rejecting ETF proposals to investors selling off crypto assets for tax and due to fear of losing funds as a result of several hacks which have crushed some major exchanges such as Mt Gox.
However, there are reasons to still invest in these cryptocurrencies based on the characteristics and potential of the asset to appreciate in the future. In this article, we will focus on the analysis of Verge (XVG) and why it will be a good investment to go into in this last quarter of the year and as we approach the year 2019.
Reasons why Verge will be a good investment
- Privacy is key for cryptocurrencies
The word “crypto” means concealed or secret, meaning cryptocurrencies are concealed or secret currencies. This aspect of secrecy or anonymity of transactions is a key feature of the blockchain.
Although every transaction on the blockchain is designed to be visible to everyone connected to the network, the identity of the sender and recipient of funds is not known. This is a feature that is meant to among other things keep the users safe.
Verge provides the highest level of anonymity among all existing cryptocurrencies and as governments and authorities seek to remove the anonymity from major cryptocurrencies like Bitcoin, the safest place to be in the near future is with Verge. Investors may soon start looking for a crypto asset that offers the kind of anonymity that verge offers which will raise the price so the time to invest is now.
2. General future rise in price
There are over 1,600 cryptocurrencies in existence today and each one of them has experienced a unique journey. However in recent times, cryptocurrencies have shown a relatively collective reaction to changes in the market.
For instance when SEC turned down ETF proposals, the price of Bitcoin fell and the general market took a down turn. When Bitcoin began to recover, other cryptocurrencies came up as well, indicating that future price changes will affect the crypto market generally.
According to predictions, the approval of ETF proposals by SEC will cause a great boost in the crypto market and Verge will not be left behind just in case you are in doubt about the price surge. So apart from price boost due to higher demand for privacy that Verge provides, there is going to be a general rise in prices which will be a plus when it comes if you are already in it.
3. Other anonymity centered cryptocurrencies cannot compete with Verge
Verge is not the only anonymity centered cryptocurrency, there are others such as Dash, Zcash and Monero. However, Verge has some unique features that set it apart from others so the other cryptos cannot beat it.
Firstly, Verge protects your privacy by hiding your IP address. With the use of networks like TOR, Verge conceals the addresses of both the sender and receiver in a transaction.
Secondly, Verge uses a technology that makes it impossible to decode the public addresses of the sender or receiver of any funds. It also provides an option to make the public addresses plain.
These are important and flexible security features other anonymity cryptos don’t offer so Verge is the way to go because they are not a threat to it whatsoever.
4. Verge has a bright technological future
Another interesting thing about Verge is that it has a great team of developers with a wonderful road map for great technological improvements that will greatly improve its security and probably diversify its use, making it more valuable.
According to a Twitter user,
“What makes xvg interesting is to me the dev team, which I have great respect for (also love doge, which is kind of a reason to like verge too).”
So if you are looking for a secure cryptocurrency with a bright future, go for Verge!