How to Buy Verge

The aura around Verge has been for quite sometime very mysterious and to an extent even unknown due to its anonymous-focused nature. The cryptocurrency was first released as a fork of Dogecoin underneath the name of “Dogecoin Dark”. Dogecoin is more of a ‘memecoin’; its purpose isn’t necessarily for pure utilization or efficiency but rather as a form of simple internet payments. Despite this, Dogecoin is technologically pseudonymous. This means that while Dogecoin is still relatively a cryptocurrency where it’s fairly difficult to link identities, wallet addresses and identities can still be linked to an entity. It’s rather complex, however, the bottomline is that Dogecoin is trackable; it’s not anonymous. Dogecoin Dark ‘forked’ or split off of the Dogecoin framework to form an anonymous version of Dogecoin. After sometime and extended business development, the cryptocurrency renamed to “Verge”, and implemented what is called the “Wraith Protocol”, separating itself in the world of blockchain making it a unique contender in the overall market.

Verge implements what is referred to as an “optional anonymity protocol”. It’s essentially just a process that makes it so that anyone using Verge can choose to be anonymous in their transaction if they wish to. By simply selecting a quick feature button, the user can choose to rid their presence in any created transaction. However, if they would rather wish to emphasize speed of transaction and do not care at all for anonymity or privacy, they don’t have to turn on the anonymity function. It’s a unique take on cryptocurrency transactions that although not perfect, has served as inspiration for many cryptocurrencies; all which stemmed from a fork of a ‘meme’ coin.

Verge is actively traded on Binance and a few other reputable exchanges, and is also an active payment method on a number of different adult websites as well as merchants. The cryptocurrency came under a bit of controversy when it was subject of a 51% attack, a technological attack where over 50% of the Verge network is controlled enabling the remaining 50%’s funds to be manipulatable at the whim of the attacker.

Verge has stated their overall goal is to establish a safe, secure, and privacy-centric technology on the internet that has never before been possible. Through the “Wraith Protocol”, the cryptocurrency aims to be at the forefront of the online payment methods sector.

Binance has for quite some time been very up to date and keen to list any potentially revolutionary or market affecting cryptocurrencies to their platform under the proper discretionary guidance; Binance was one of the first exchanges to list Verge (XVG) pairs when they first propelled themselves to the mainstream.

Binance is a Malta-based exchange ran and founded by Changpeng Zhao, a cryptocurrency and blockchain technology-based activist that has promoted cryptocurrency growth for quite some time. While Binance has remained neutral on their overall stance and opinions towards Verge, they do in fact maintain a listing on their platform.

To get started with purchasing Verge from Binance, you’ll first need to create a Binance account. You can do this very easily by navigating to the Binance official homepage and clicking on the top right of the navigation bar where it says “Log in or Register” and clicking “Register”. Upon clicking the register button, you’ll be asked for simple information including a valid email, username, and password to protect your account. Verification of identification is optional for furthering account limitations, however, it is no way required.

Once you’ve finished registering, verify your account email by clicking the verification link sent to you. This is the furthest level of verification that you’ll need; all further verification is only required for institutional-sized trades or purchases of Verge. The next step is to deposit funds to Binance so that you can use them to purchase Verge. To do this you have 2 main options: Linking a credit card for direct payment, or deposit of Bitcoin or any supported cryptocurrency on Binance. Theoretically if done in a quick manner (Due to the volatility in Bitcoin price), depositing Bitcoin would be the more cost-efficient method for purchasing Verge on the site due to the fees imposed for credit card purchases.

Prior to depositing, however, let’s look at the subsequent process of purchasing Verge for a better understanding of how Binance deposits work: Cryptocurrency is sent to Binance –> If that cryptocurrency is supported via an XVG pair, say for example, “XVG/BTC” then you can immediately exchange it for Verge, however, if not –> Exchange the deposited cryptocurrency for a supported XVG base pair (Ex: USDT, USDC, ETH, etc) –> Use the base cryptocurrency to purchase Verge.

As a result, Bitcoin will be deposited in this example. To do this, navigate to your account and highlight the dropdown selection of “Funds” and then select “Deposits”. On this new page, you’ll be instructed to enter which cryptocurrency you’re looking to deposit. In our case, we want Bitcoin; as a result, Binance will generate a deposit address for you as is shown in the example below (Present underneath the “BTC Deposit Address” section);

By sending Bitcoin to this newly generated address, you’ll then be able to fund your Binance account after the network confirmations are completed. As a result, you’ll then be able to purchase Verge by finding the next XVG pairing with BTC under the “BTC markets” section.

To finally make the purchase for Verge, navigate to the top left of the Binance “Exchange” tab and select “Basic” (This is the easiest UI to navigate on Binance). Once selected, you’ll be able to search for Verge’s ticker symbol which is “XVG” – the process will look as shown below:

Once you select the pair, you’ll be prompted with the trading portal where you can create a buy order; you have 2 options, market order or limit order. A limit order executes only if XVG/BTC crosses a certain price point while market orders simply execute at the next best price. Either will work; market orders are definitely in many cases good for beginners, since you don’t need to do much analysis or due dilligence prior to placing the order, so a market order is recommended for beginners. Plus, XVG is liquid enough where market orders will not put you at a huge loss.

Once at the market order tab, all you’ll need to do is enter in the quantity of Verge you’d like buy (Relative to Bitcoin price), and wait for the order to execute. After execution, you can check your “Funds” account section to move or trade your newly acquired Verge.

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