How to Buy Verge (XVG) in 3 Simple Steps

5 Things to Consider if you Want to Buy Verge

Before you buy Verge for the first time, there are a few key factors that you should consider. This next section covers everything you need to know to safely and securely buy Verge.

1. Carefully choose your preferred secure payment method

Any reputable broker platform will support multiple secure payment methods. However, which options are available to you specifically may depend on your location. Check to see if there are any options available for your locale before you commit to a platform. Other considerations include the fees, transaction speed, reliability, and security of the available options. 

2. Will you need to set up your own wallet?

Setting up a secure cryptocurrency wallet is an important step before purchasing any Verge, especially if you plan to hold on to your tokens for a long period of time. Broker and exchange platforms typically provide an integrated web wallet for quick storage, but those wallets are not under your full control and are vulnerable to hacks. It is better to get a dedicated software or hardware wallet for secure storage.

Another alternative is to enter into a CFD (Contract for Difference) agreement with a reputable broker. Trading crypto derivatives doesn’t require you to actually hold any Verge tokens, so you don’t need to set up a wallet.  

3. Comparing costs

There are always fees and costs associated with buying a cryptocurrency. In addition to the fees charged by the Verge network, you should consider a platform’s transaction fees, commissions, and other expenses. Using another cryptocurrency (e.g. Bitcoin, Ethereum, etc.) as a means of payment is generally a much more affordable alternative. Cryptocurrencies are usually cheaper than traditional payment systems. 

4. Safety and security

Verge comes with multiple safety and security options. It ensures transactional privacy through integration with multiple anonymising networks such as the Tor (The Onion Router) network and I2P (Invisible Internet Project). The Tor network can hide a users’ location by bouncing their transaction across a distributed network of relays. I2P encrypts user data and sends it through an anonymous peer-to-peer globally distributed network. 

Reputable cryptocurrency brokers and exchanges also have their own security protocols to protect user assets, such as two-factor authentication (2FA) to prevent unauthorised account access. Some platforms may also have MT4 or MT5 support, which provides quick and secure access to CFDs, futures, and other order types. 

5. Can you understand and navigate the platform?

The final consideration before buying Verge from a crypto broker is the ease of use and accessibility of a platform. Try to familiarise yourself with your chosen platform and ensure that it can accommodate all of your needs and preferences before you commit. Perhaps you should even initiate a few dummy transactions to get a better idea of how the platform works. This step can help to prevent avoidable errors. Remember, cryptocurrency transactions are designed to be immutable; there’s no way to get a refund if you make a mistake.

What is the Best Payment Method for Buying Verge?

Brokers and cryptocurrency exchanges offer several payment methods for buying Verge. However, what options are available to you will depend on your location. Below are some of the most popular payment methods.

Buying Verge with PayPal: PayPal is available on pretty much every platform as a payment method for goods and services. It’s a convenient option, but it’s not available in every location. While a user in the U.S. may be able to use it for payments, a user in Iran won’t because PayPal is not available there. PayPal also tends to have higher fees than other common payment options, so find out what the transaction fees are before making a purchase. 

Buying Verge via Bank Transfer: Bank transfers are another universally available payment option for buying Verge. It’s generally the cheapest option in terms of fees, but bank transactions can sometimes take several business days to process. You may also need to verify your identity to connect your bank account to a platform.

Buying Verge with Cash: Buying using cash is the only option that won’t incur any transaction fees, but there are no online brokers or exchanges that accept cash. You have to find someone in possession of Verge tokens who is willing to sell them to you for cash. It’s not an impossible task if you use P2P platforms to search for sellers near your location, but it’s a risky gamble without a reputable broker or exchange to function as an intermediary.  

Buying Verge with Credit or Debit Cards: Credit or debit cards are another popular payment option. Paying with your credit card is convenient and straightforward, but the transaction fees might be considerably higher than with other payment options.

What Fees are Involved in Buying Verge?

Every cryptocurrency platform charges a variety of fees which you should take into consideration. Below are some of them. 

Transaction Fees: Transaction fees are common on all platforms. They are needed to process your request to buy or sell Verge. These fees are usually small. 

Processing Fees: When you buy Verge using fiat money, then your chosen payment method will likely charge processing fees. For example, credit/debit cards, PayPal, and bank transfers all take a percentage of the transaction amount as fees. 

Network Fees: Most cryptocurrencies charge network fees for processing transactions on the blockchain. The Verge network charges a flat transaction fee that is set at 0.1 XVG.  

Safely Storing Your Verge

Storage is an integral part of holding cryptocurrencies. The good news is that there are numerous software and hardware options available. 

Web Wallet: Web wallets are specifically designed for web browsers (i.e. Firefox, Chrome, Safari, and so on). Broker and exchange platforms automatically create web wallets for new users. They are a convenient method of storage because you can access your wallet from anywhere in the world as long as you can use a web browser. However, that convenience has risks. If the exchange is hacked or goes out of business, you may end up losing all of your funds. 

Mobile Wallet: Mobile wallets are designed for smartphones and tablets. They generally have better security than browser wallets because of the various security protocols available on mobile devices. However, mobile wallets are also vulnerable to hacks, especially if someone manages to get full access to your phone. Examples of mobile wallets for storing Verge tokens include the Tor Verge wallet, Atomic, and Coinomi. 

Desktop Wallet: Desktop wallets are for PCs. They aren’t as convenient as mobile or web wallets, but they are much more secure. These wallets have additional security protocols such as 2FA and advanced encryption. Good examples of desktop wallets for Verge are Electrum and the QT Verge wallet. 

Hardware Wallet: Hardware wallets are the most secure out of all available options. These devices can securely store your XVG offline, keeping them safe from theft and hackers. Unfortunately, there aren’t many hardware wallets that support Verge by default. At the time of writing, the Trezor wallet was the only hardware wallet that supported XVG. 

Wallet Combinations: Wallets for different devices can sometimes be interlinked to offer users better security and more convenience. For instance, it is possible to connect the Electrum wallet with the Trezor hardware wallet and move your tokens between the two wallets. Please note that interlinking the wallets is a very technical process that may require some research.

What Other Coins Can I Trade or Use to Buy Verge?

Major cryptocurrency exchanges can let you buy Verge with Bitcoin or another popular cryptocurrency. An XVG/BTC pairing should be easy to find and establish. However, be aware that there may be fees associated with a crypto-to-crypto transfer. Compare the various fees offered by a platform before you hit that “Buy” button. 

What’s the Smallest and Largest Amount of Verge I Can Buy?

Can you buy Verge without limit? How much XVG you can buy at once largely comes down to how much fiat money or cryptocurrency you have to invest. The value of one token has never crossed the $1 threshold, so you’re guaranteed to buy a whole XVG token for less than $1. 

It is possible to buy small amounts of Verge; the minimum purchase amount for XVG on most major exchanges is 0.1 XVG. It’s the ideal investment for enthusiasts who are on a tight budget. The Verge buy limit largely comes down to the available liquidity on a particular exchange. 

Can I Buy Verge Anonymously with no ID? Is it Safe and Legal to Buy Verge?

People, who are new to cryptocurrencies often wonder, “Is buying Verge illegal? Is it safe to buy XVG tokens?” While blockchain technology has existed for several years now, there is still a lot of skepticism about its legitimacy. The good news is unless your country has passed specific laws prohibiting cryptocurrencies, buying and holding Verge is perfectly legal. 

Numerous reputable exchanges facilitate secure Verge purchases, but they will require you to verify your identity in order to comply with KYC and AML practices. It is also possible to buy Verge without ID, but that will require a lot more work. If you want to buy XVG anonymously, you have to find a person holding the tokens. Fortunately, there are P2P exchanges that can help you find sellers near your location so you can buy XVG safely. 

Will Buying Verge Make Me Money?

Are you trying to buy Verge to get rich? It’s hard to say with certainty whether holding Verge will be a profitable investment. Its value has had its ups and downs over the years, but the currency has never been worth more than $0.5. That could change in the future if privacy coins become more popular. 

If you want more information on the best price to buy XVG, check out our Verge Price Page. We answer questions like, “How much does it cost to buy XVG?” and “Should I buy Verge?” 

We have compiled everything you need to know to help you make a sound investment decision. 

How to Spend your Verge

Verge was forked from Peercoin to function as an anonymous medium of exchange. Its function is similar to Zcash, Monero, and Pivx. The project’s most interesting features are the Tor and I2P integrations, which anonymise transactions with great efficacy. 

There currently aren’t many merchants that accept payments in XVG, but that might change in the future. The currency may prove valuable as a payment option for a marketplace that values user privacy. The Verge team has teamed up with NetCents and CoinPayments to give merchants an easy way to integrate XVG as a payment option. 

How to Sell your Verge

Selling Verge through a broker or exchange platform is a fairly straightforward process. Once you’ve verified your identity and transferred your XVG tokens to the platform’s built-in wallet, choose the “Sell” option and enter the amount you wish to sell. You can sell your tokens for fiat money or another cryptocurrency if that option is available. 

Another alternative is to sell XVG through a CFD. Cryptocurrency trading is experiencing a boom at the moment, and trading derivatives is quite simple if you find the right broker platform. Selling a CFD tied to XVG won’t be very difficult.