Catch the Surge
Verge (XVG), the newest cryptocurrency to enter the anonymous transaction space, surged to the number one spot by volume (when paired with Bitcoin (BTC) on the increasingly popular Binance exchange overnight). The crypto-community is actively trading the coin, and the community of believers supporting the effort are also actively chatting about this opportunity on their less-than-private social media sites as the realization of a viable product gain attention in the crypto-universe.
And as it hovers near 6 cents (at the time of this post), investors are all abuzz with speculation over the future of anonymous transactions. The trend in price of this increasingly stable and useful altcoin seems clear, yet with the current mania you are justified to feel cautious about diving in head-first. Especially with the increasing number of pump-and-dump transactions occurring in the crypto-space. So if you’re on the fence about investing in this favorite peer-to-peer new-comer, let me give you a little push.
The desire to retain your identity in peer-to-peer transactions is not limited to the dark-web. Drug-dealers and prostitutes are quite comfortable using the U.S dollar (or whatever other form of fiat your current government is pushing on you) for their self-serving purposes, thank you very much. Instead, anonymity of our financial transactions is important to all of us in the peer-to-peer market as a fundamental freedom and indeed as a human right. With the increasingly prying eyes of corporations, governments, and hackers scrutinizing the details of every old record-player you and your hipster friends buy off Craigslist, the desire for privacy in the digital market place will grow commensurately.
But yeah, drug dealers will use it to. So while you sit up on your high-horse and look down in disdain at the potential negative uses of money, go ahead and dump those little green pieces of paper cluttering the inside of your wallet out into the street. They started it.
Why Verge (XVG)
There are a number of better known competitors in the anonymous transaction space. Some of these coins have even done quite well recently (I’m looking at you Dash (DASH)). With the market seemingly saturated with competing products, is the desire for another anonymous coin purely speculative? The developers of this project don’t seem to think so, and neither do I.
Verge was started with a mission to empower people through the use of blockchain technology, aiming at fast, efficient decentralized transactions while maintaining the privacy of the users. Fast-forward to today, and the team stands ready for mass adoption with a number of secure wallets to store the token, including the revolutionary Tor Android Wallet allowing for mobile anonymity (a first and a definite plus).
Also, a look at their website reveals that Verge (XVG) is not funded by pre-mined coins. Cool.
Many backers of this rising alt-coin complain on their favorite social media sites of the corporate backing behind some of other coins claiming to be anonymous, and only time will tell which one’s will be adopted by the burgeoning middle class as we come to accept crypto-currencies as payment for our various e-wares.
Try not to miss the boat on this alternative to the alternative currency world. The black market of the dark-web is a growing and popular industry, but the need for anonymous transactions for the everyday citizen are what this is about. Both represent positive growth in the near term. Verge (XVG) and their vision for privacy rights in the digital space allow us to invest in both without selling our souls to the corporate backed coins of yesteryear (read, last week).