What is it Verge (XVG Coin)?
Verge Wallet & Coin is a cryptocurrency that provides users with total privacy and anonymity. While most cryptocurrencies claim to be anonymous, only a few truly are. XVG wallet is totally anonymous as it hides users’ data like the IP address. Additionally, it makes use of TOR and I2P to create this anonymous network.
Verge does have a blockchain, however, users can only check the transactions themselves with no additional data.
The whole platform is open-source which means everyone in the community can take part in the development of Verge. Additionally, the low fees and quick transactions make Verge a perfect cryptocurrency for mass adoption.
Types of Verge XVG Wallets
When it comes to choosing a wallet to store your Verge coins, the official platform offers a wide variety of wallets from smartphone wallets to windows and even official paper wallets.
All Cryptocurrencies usually use 5 types of wallets.
XVG Desktop wallet:
This type of wallet is for PC or laptop devices. The desktop wallet will only be accessible from there. These are generally safe wallets but not the safest option as your PC could easily get infected by a virus or hacked.
XVG Online Wallet:
This is generally simpler and easier to use. It’s available on any device as long as it has internet access. This is a very convenient but risky method of using cryptocurrencies as your private keys are stored online and controlled by the third-party in question.
XVG Mobile Wallet:
Similar to online wallets, these are generally easy-to-use and have to be downloaded on a smartphone. They also have fewer features as they are much lighter and don’t require as much space as the desktop model. It’s generally a safe method of handling cryptocurrencies although one could easily lose the phone and private keys.
XVG Hardware Wallet:
This type of wallet stores private keys on a hardware device, usually a USB. A hardware wallet can support multiple cryptocurrencies and it’s fairly easy to use but can be costly. This is one of the safest wallets available as it helps users transact easily without much risk. Even if the user loses the hardware wallet, he will still have the ability to recover his wallet by recovering the seed.
XVG Paper Wallet:
This wallet provides the highest level of security and it’s fairly easy to use and understand. In essence, a paper wallet is a physical copy of both the public and private keys and it can be printed on a piece of paper. The only real danger or downside of this type of wallet is losing the physical copy. Other than that it’s virtually impossible for someone to ‘hack’ your paper wallet.
Verge QT Wallet
This wallet is designed to further increase user privacy and it is a full node wallet. This wallet requires a lot of space to install and it is not exactly user-friendly. It’s not recommended for new users.
This Wallet is available for Windows, Linux and Mac OS and it can be downloaded from the official website of Verge. The download also comes with instructions on how to install it as it can be confusing for newcomers.
Verge Electrum Wallet
Electrum is a wallet created to support Bitcoin. It is focused on speed and providing a user-friendly interface as well as overall simplicity. The Electrum wallet for Verge is a light node which means transactions can be processed rapidly by making use of the Simple Payment Verification (SPV) process.
This is also an official Verge wallet available on the main website. It is also available for Windows, Mac OS, and Linux. The electrum wallet can also process transactions through a Tor chain to provide increased privacy.
It’s important to note that the original Electrum Wallet had a security breach back in 2018 and although it was quickly fixed, it reminds users of the necessity to always use the latest version available.
Tor Verge Wallet
The Tor Verge Wallet is available on Google Play for Android devices. The app can scan the QR code from other Verge Tor Android Wallets to make it very simple to send coins. The app can also scan QR codes from Verge Paper Wallets.
Unfortunately, this app only has a 3.1 rating on Google Play. It seems the app usually experiences some annoying problems like synchronization issues.
This is an official Verge Wallet and the developers are constantly working on it and it could be improved in the future.
Verge Paper Wallet
This wallet is also provided by the official Verge website. It comes with instructions and a basic security checklist that will read:
You appear to be running this generator off of a live website, which is NOT recommended for creating valuable wallets. Instead, use the download link at the bottom of this page to download the ZIP file from VergeCurrency.com and run this generator offline as a ‘local’ HTML file.
If you try to use it online. The paper wallet is the safest wallet available but the user must follow all the required steps. The most optimal operating system to generate a paper wallet is the Ubuntu LiveCD. This OS it’s guaranteed to be free of spyware or viruses.
The Paper Wallet comes with a QR code that can be scanned for other people or yourself to send Verge to that particular address. Users can also opt to withdraw the entire balance by ‘sweeping’ it to a live wallet.
A better alternative to the Verge Tor Android wallet is the Coinomi mobile wallet that supports more than 100 different cryptocurrencies. Coinomi is one of the most popular cryptocurrency wallets used by millions of users worldwide.
The wallet was created back in 2014 making it one of the oldest multi-asset wallets in the market. Coinomi claims that no Coinomi wallet has ever been hacked.
Coinomi is currently Seg-Wit enabled and readable in 25 languages. Additionally, the built-in ShapeShift and Changelly support make it really easy for users to exchange the supported assets.
So Which Wallet is the Best?
As usual, it depends on what the user needs. The official Verge platform offers a wide variety of wallets suit for different needs. Clearly the most secure type of wallet is the Verge Paper Wallet.
It’s not only extremely secure but also comes with an extensive instruction manual to help newcomers create their paper wallets in the safest way possible.
If you are looking for a more convenient wallet, you can make use of the desktop or online wallets. The desktop wallet is a bit more secure but requires you to download and install the software which can take up a lot of space.
If you want to store your Verge coins on your mobile device, Coinomi is definitely the best option as it supports other cryptocurrencies and has better features than the official Verge Android Wallet.
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