Steemit Crypto Academy - Season 2, Week 8 [homework post for professor @levycore

Good day everyone, and welcome to another chapter of the crypto academy homework given to us by @levycore. It's all about privacy coin this week. We've learned a lot from his post on the topic and it's our turn to prove that we understand the lecture. Without much ado, let me delve into the main matter.

What is privacy coin?

I would love to choose Verge coin (XVG)

WRAITH PROTOCOL is a technology that allows users to switch between public and private ledger on the Verge blockchain.

Verge’s emphasis on privacy is appealing to investors—particularly in times of global political turmoil. Verge ensures that all transactions are secured and truly anonymous not like the case of some of the other privacy coins, Verge lays emphasis on ease and usability accompanied with privacy measures. Verge also offers a host of secure wallets to hike up security for its users. Among them is the Tor Android Wallet for mobile anonymity, a unique offering in the community.

I have some reasons for choosing verge coin.

• Verge coin is decentralized just like every other cryptocurrency. It's also Community-driven.

• Talking about transaction speed, Verge coin has a very fast transaction speed of 30 seconds

• Verge is the first android wallet running through TOR

• On atomic swap

• It has optional Stealth addresses. You can switch ( Elliptic Curve). Yes, this is one of the greatest reason I like Verge. The anonymity is cool. You can decide on making your transaction public or confidential by switching from one to another. It's amazing.

• The security is difficult to crack

• A Verge (XVG) debit card allows you to manage your money simply and securely, in person, online, over the phone, or through the mail. Having a Uquid account helps you deposit money into your card, keep track of your spending and review your balance.

Verge debit card is another reason I like the verge privacy coin. Verge did a lot of things to follow up every user of the card. They protect their customers to the brim.

• It's more versatile than cash, and if you lose it, you can order a replacement.

• It has FIVE Minning algorithms

i.(Scrypt

ii. X17

iii. Lyra2rev2

iv. Myr-groestl

v. Blake2s)

• I also like verge because it gave me a huge profit in 2018 when I was still new to cryptocurrency. I bought it on Bitterex and I made a lot of profit from it. The name cannot leave my head, because the profit I made that year helped me a lot. How can I forget such a blessing?

Current price as at when this period = 0.03199626

Circulating supply = 16,458,007,544 / 16,555,000,000

Website = https://vergecurrency.com/

Explorer = https://verge-blockchain.info/

Bitcoin talk = https://bitcointalk.org/index.php?topic=1365894.0

Twitter = https://twitter.com/vergecurrency

Reddit = https://reddit.com/r/vergecurrency

Source code = https://github.com/vergecurrency

All-time low = 0.00000223

All-time high = 02618729

Trading volume = $102,674,693

Market cap rank = 125 (This is subjected to changes)

Current price = $0.03186273 (Price can change at any time)

Market Cap: $524,283,669

market cap dominance = 0.03%

24h Low / 24h High= $0.02270784 / $0.03745900 (As atwhen this is published

Trading Vol = $102,674,693

Exchanges where you can trade XVG= Bitterex, Binance
HitBTC, bitcoin.com exchange, etoro, crypto.com, and so on.

Below are more exchanges where you can trade XVG.

From the different daily prices and the open and close figures, we can get one or two points on how the coin has been performing for the past few weeks. Apart from using the technical analysis to forecast or monitor the price of an asset, the historical background with respect to price, volume, market cap and more can give a trader an insight on the trend of the coin (Long or short term)

Some people never knew that XVG is also mineable just like other digital assets. The deployment for verge is either cloud mining or hardware mining. First, let's look at the HARDWARE mining. Just like we use tools to carry out some functions in fieldwork, some tools are needed to engage in XVG mining.

• You would need a stable internet connection with at least. 1MB per sec bandwidth and also a stable4 electricity to keep powering the hardware.

• Mining hardware such as GPU or ASCI

• Verge wallet where the coin will drop

After getting all these listed things in place, you will join any mining pool of your choice such as (https://www.mining-dutch.nl/, https://verge-scrypt.miningpoolhub.com/), https://miningpools.com/verge/,http://ccminer.org/, and so on.) Why it's good to join a mining pool is because there is competition in personal mining, but joining a pool keeps everyone in a circle and you get your percentage of the reward according to your participation in the pool. Meaning that the probability of quickly finding blocks in a pool is higher, and the reward is distributed among every member of the pool according to their contribution.

This image is a screenshot from my PC taken from coingecko. As we can see, the price of Verge was stagnant for a long time. It moved in a parallel way until, there was a surge in early 2018, where it rose to about 26 cents. It came down again, but not as low as it was launched and began to fluctuate with no much differences, until 2021, when it started its upward movement. Verge is a potential coin that might do well, looking at the price it came out with compared to where it is today. Though the price is not high at the moment, it's also a good opportunity to buy and keep. (Not financial advice. Just my opinion.)

• Wraith provides users with flexibility, choice, security, low fee, fast transaction speed, and smart contracts functionality

• Verge transaction is just 30 seconds. it has high speed.

• It has low charges. Every transaction on verge is amazing.

• Ability of users to use desired ledger and more secure with smart contract functionality.

• It can be used for payment

• It keeps transactions anonymous and untraceable.

• It allow users to make either public or private blockchain transactions.

• Can be used by fraudsters. One of the reasons it was changed from dogedarkcoin to verge is because they felt the name was not good enough. The dark in the name gives fraudsters the moral to use the coin for fraud.

• It has a low hash rate

Go to google play store and search for Verge tor android wallet, then download

After downloading it, click to open

Click on create a new wallet. Only those that have an existing wallet can click on restore a wallet.

After clicking on create a new wallet, another page will surface where the recovery phrases are displayed. These recovery prases are used to generate the keys for the wallet.
There are some points to hold firm:

i. Secure your recovery phrase. Save it where no one would have access to, and most importantly, write it on paper and keep it where no one would notice. Once the recovery phrases is lost, the account is gone no matter how many millions of verge is in the account.

The next thing is to click to check the box below where "I have safely stored my recovery phrase is written", the click next

Here, enter the recovery prase stored accordingly and click next

After entering the phrases and clicking next, type your password and click next

For more security, you can use fingerprint and Pincode together or use only pin code to secure your wallet. If you don't want to use any, you can skip. As for me, I used only pin code

At this stage, you click on Verge to open your wallet and click on finish

But note that before you can use this wallet, you must install Orbot application. It's a Tor for android. As shown in the image, just click on install. It will direct you to google play store.

After the installation, continue with your wallet and click agree on the terms and services (legal disclaimer)

()

Lo and behold, your verge wallet is live.

CONCLUSION
Many people are striving for security because the digital world is increasingly intangible. the cryptocurrency world is now very competitive with many currencies available in the market. However, verge has created a platform that is characterized by reasonable features that can help investors in the cryptocurrency world.

regardless of what happens on both sides you have the protection already enabled. if you want your transaction to be placed on a public ledger and you still want to have the TOR integration you can probably do that and also if you want it on the private ledger with the TOR integration it's all possible. Verge has given its users the right to choose what part of the ledger they deem suitable to transact with and that is the power of choice. And did you know that Verge doesn't make use of cryptography like another cryptocurrency?

Verge coin is not as volatile as other cryptocurrencies. Many predictions on this coin show that the coin will go bullish before the end of 2021. Sites like wallet investors predicted the price of XVG to hit 50 cents by the end of 2021. Coin firm predicted 1 dollar. Looking at the fundamental analysis of verge and having a great team of developers, there's no doubt that verge is a long-term investment that could change the life of an early adopter. If a platform can process 100 transactions per second, it's fucking amazing.

Thanks for taking your time to read through.

CC

@levycore