Introduction

It is another great week in the SteemitCryptoAcademy and giving much regards to Professor @levycore on this wonderful lesson on Privacy coins. i will say actually i did not much knowledge about the privacy coin, but after this lesson i can say i am well enriched as i will be sharing my writeup article on the various questions on privacy coin in this wonderful community.

Question 1
Choose a Privacy Coin and perform a fundamental analysis of the coin in detail.

Privacy coin

Definition

^{Image Source} I will begin by defining each word differently before blending and elaborating on the two. we all know in simple terms that privacy is a state in which someone will not like to be observed or disturbed. meaning that we could say it is a state of being free from the attention of the public. well the importance of this privacy is quite obvious, as it does protects information you do not want to share when the said privacy is respected. To now move on to coin, we know coin to be small pieces of metal that have been accepted as a medium of exchange. but in our lecture our coin is the crypto currency which is a digitalise form of currency. this digital cash are independent on any blockchain or platform Blending the two now,**privacy coin** are Crypto currencies that have anonymous origin and destinations transactions and are power private. some of this coins include: * Monero * ZCash * verge * horizon * Grin * Beam and about 73 more others.

Fundamental Analysis on Verge

^{Image Source} i will be choosing Verge(XVG) for my analysis on privacy coins. Verge provides a complete anonymous transaction. this is achieved by hiding the location of the transacting participants. making it reach the qualification of a privacy coin and also being why i choose it. it also obfuscate the internet protocol address of the transactions. talking about the inside of verge, it was founded in the year 2014, showing its longivity in the market, and was first named under the dogecoindark before changing it later to Verge in 2016. #### Why Verge * With its longivity in the market, as some new coins turns to be scams and pungzim schemes, Verge since its creation on 2014 has really provided an alternative to dogecoin. * with its increase in popularity, in a time when crypto currencies face challenges of protecting completely participate anonymity,Verge has proven to be reliable. * Verge has a goal to solve the complete problem of keeping private and securing the technical anonymity of its users.

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Order book of the verge privacy currency on the coingecko platform

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Verge has a current value of 0.02729 making it a penny currency. with a volume of 100,139,769.30 and ranked 133 on Coingecko. Verge has a current capital of 465,478,005 billion
as of the date of the publication of this post. verge is also located in most popular exchanges with Coingecko inclusive.

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Verge also has 3 types of nodes, which are;

• The full nodes
• Light nodes
• Tor nodes

In addition to this, we can also cross-trade the verge without necessarily using centralized parties, or even other exchanges like the Binance. This is achieved by the atomic swap method. Which is used by enabling its capability in the wallet.

Question 2
Describe the steps in creating a wallet for the Privacy Coin of your choice. (Screenshot required)

Creation of a Wallet for Verge Privacy Coin.

^{Image Source} Actually, there are numerous types of Privacy coins as i listed above, with about 80 in existance. This privacy coins have uniqueness in that they have their own wallets. I will then be performing the various procedures to download and install the wallet of the Verge Privacy Coin. ![InShot_20210603_232414597.jpg]()

1. I am going to begin by logging into the website of Verge, which is www.vergecurrency.com and i select the site to download the application.

2. I will be downloading my preferred wallet according to my device type. Since i am using Android, i will be downloading Verge wallet for Android

3. I am being redirected to playstore where i download the wallet application.

4. Now, i have to install the wallet, following the procedure, i am given a recovery sentence also called a Mnemonic seed where i copy and paste in the next page. It is also very important, so i backed it up and save in secret.

5. After pasting, i am taking to the page to put my password and verify

6. I then move to put a pin and/or pin with fingerprint. I am choosing Pin only.

7. My wallet is now open, and ready to be used

8. Checking my Balance

And settings

Question 3
Explain the reason you chose the Privacy Coin. (State the advantages and disadvantages)

I will be summarising my why i chose the Verge Privacy coin in the points below while stating their advantages and disadvantage.

Advantages of Verge

• The verge currency has low transaction cost
• It also eliminates chargeback fraud
• The verge privacy coin is fast and cheap to use
• It is secured, as it offers stronger privacy
• It is also a famous coin, as it came about because of dogecoin
• It gives stronger privacy as entails.
• It is a decentralize financial tool.
• It has lasted in the market for a very long time, since 2014.

Disdvantages of Verge

• The verge coin market is always highly unpredictable and unstable as well.
• Many criminals use then for their criminal activities because of its privacy.
• You cannot purchase it with fiat currency.

Conclusion

To conclude: The Verge coin is actually a privacy coin found on exchanges such as Binance, Bittrex, Huobi, and its exchanges include Bitcoin, Etherium and Tether, and cannot be exchanged with fiat.
Talking about privacy, Verge is a perfect example of a privacy coin, as it provides complete privacy of its transactions, though fraudstars and hackers take advantage of it.
The current value of Verge is 0.028
Each privacy coin has its unique wallet to perform its transaction, just as shown above how to download the wallet from the website.

I will end by saying
Privacy is a right, which should be respected
And transactions should be carried out freely and with privacy without any fear.
#levycore-s2week8