A lot of the cryptocurrencies entering the Blockchain and Crypto investment competition are focusing on being adopted as a mode of swift transaction. The days of buying, holding, and owning Cryptocurrencies are old days now. Verge is one of those cryptocurrencies that want to offer a mode of swift (decentralized) payment system.
Verge Currency offers a swift payment system that is quick, reliable, flexible, and secure. It has several benefits, which make many organizations, individuals, and agencies accept Verge payment.
It can be adopted as a decentralized transaction method helping businesses around the globe break down certain barriers. Go through this article to learn certain details about the Verge payment system.
What Is Verge Cryptocurrency?
Verge is an open-source cryptocurrency that is a fork of DogeCoin. More so, it is a completely anonymous (completely private cryptocurrency) that masks the user’s location and IP address during a transaction. Users can make a transaction without worrying about their valuable information getting shared in the network or making them visible to third parties.
This cryptocurrency came into existence in the name of DogecoinDark in 2014. But it had to rebrand itself as Verge in 2016. Compared to many other cryptocurrencies in existence, Verge offers complete anonymity to their users through its private ledger.
Instead of heavily relying on cryptography technology, Verge tries to rely on TOR and I2P networks to achieve its goal of providing users anonymity. This network is run by many volunteers who are scattered across the world.
XVG Verge Price Data
The current trading volume of Verge is $821,493 USD. The cryptocurrency has a current market cap of $38,404,355 USD. There are 16,519,073,263 XVG in circulation as of now, and the max supply of the same is 16,555,000,000 XVG coins.
It is a valuable and potent cryptocurrency due to its anonymity and is being adopted by many businesses around the world. Businesses and individuals can purchase this coin on some of the most popular cryptocurrency exchanges, such as – Binance, SuperEx, BingX, Gate.io, and Huobi.
Advantages Of Using Verge Cryptocurrency
Verge is not only a fast payment method, but it is also a pocket-friendly cryptocurrency, and is good for people looking for low-fee transactions. Here are some advantages of using Verge cryptocurrency.
No Chargeback Fraud
The transactions made on the Verge network are immutable. Once your client has made payment for the product they purchased, the money will be inside your pocket. Unlike the payments in the credit card system, the charges are irreversible. So, there is literally no chargeback fraud.
Fully Decentralized & Immediate Transaction
With Verge payment, there is no waiting around. You don’t have to wait around for the payment to get done. There is no third party awaiting you in the middle of the payment system. The translation speed depends on the load of the network, and it is complete within 5 seconds to 10 seconds.
When the payment is made, you will find it in your Verge wallet. Users of this currency can also convert Verge Cryptocurrency into fiat currency at the end of every transaction, monthly, or whenever they want.
Lower Transaction Cost
Have you ever calculated the amount you pay on credit card transactions? Whenever you make any transaction using credit cards, you spend 2% to 4% on credit card transaction fees. But when you use Verge for payment, you only have to pay a fraction of what you pay using credit cards. Verge only charges 0.1% of the transaction as fees. So, you can literally save 90% on transaction costs.
If you are a merchant with high volume sales or high ticket items, this will help you save an over-inflated expenditure that you were paying before using Verge. Verge Can literally help you cut down on costs while doing business.
Attracting New Customers
This might seem impossible, but Verge can help you create a network that you never thought was possible. Thanks to the different advantages, including the one related to the transaction fees, Verge is attracting new users every month. So, when you start doing business using Verge, you will get introduced to a lot of new clients.
Publicity with the help of cryptocurrencies like Verge is easier. While most of the businesses around the world accept payment through fiat currency, you can opt for Verge and make a news out of it. Many international, local, and national news outlets are now making reports on different businesses accepting cryptocurrency payments. Who knows, your business might be on their list next. Using the Verge payment system might open a chance for you.
Cryptocurrencies are increasing in popularity and acceptability. There is no chance that their circulation will cease. In fact, they might be more in demand in the future; and cryptocurrencies like Verge might become a standard procedure for payment. Verge may also increase in individual value. So it is only viable to use it as a mode of payment in the future. So, using Verge as a mode of payment will only increase the chance of profit in the future.
Gaining Experience With Blockchain Technology
Believe it or not, accept it or not, Blockchain is the future of c currency and value. So, if you want to introduce your business and yourself to Blockchain technology, you can start with Verge. This will provide you with experience working with Blockchain technology in your business. So, if you need to incorporate the technology into your business, Verge can come in handy.
Private currencies are gaining momentum as many of the pioneer currencies prove to be not fully anonymous. Verge is one of those private cryptocurrencies, and it offers lots of scope for doing business and individual transactions. Verge users can save a lot on fees and make quick transactions without any intervention from a third party. So, these are the advantages you should know about when considering using Verge cryptocurrency. However, if you need us to answer any of your queries, please reach out through the comment box.