There are a lot of altcoins on the market that offer varying degrees of privacy and anonymity. The Bitcoin (BTC) ledger is public and wallet addresses are easily analyzed, so a number of cryptocurrencies have hit the market that provide private ledgers – with different ways to help protect user data from malicious actors. Monero (XMR) and Zcash (ZEC) are two of those coins. For the last couple of months, Verge (XVG) has been the star altcoin when it comes to anonymous transactions. But the PIVX coin just got added to Binance in the last 24 hours, and it is trading 34% higher this morning:
PIVX/BNB, PIVX/BTC and PIVX/ETH trading pairs are now available on Binance for trading. You can start depositing and trading PIVX now. https://t.co/pLRE6MsTSw #btc #eth #yearofpurple pic.twitter.com/diepfI60IR
— PIVX (@_pivx) January 23, 2018
This Binance news has us starting to look at the Verge coin a little differently, especially considering its declining price over the past month. Today it is trading 15% down from its price 24 hours ago. On Christmas it was trading at $0.23, but now it is sitting at $0.088:
With PIVX now trading at $12.50 (and now on Binance), it is currently the 43rd most valuable coin on the market. Meanwhile, Verge (XVG) is in 26th place – having once held the spot of 20th most valuable coin.
How is the PIVX Coin Different from Verge (XVG)?
Verge coin transactions claim to be anonymous and private by working with something called ring signatures. By bouncing data around the globe on different machines, and leaving and picking up pieces along the way, ring signatures make it impossible to figure out which wallet address a transaction came from. It is completely untraceable.
This cryptocurrency also offers an option where transactions can be made public or private on-demand before confirming each transfer. It’s like a privacy on and off switch.
Meanwhile, PIVX coin transactions also offer blockchain privacy. It uses a system called Zerocoin, and it makes transactions private by creating a new, second-tier currency called zPIV.
XVG has a cap on how many coins can ever be circulating. PIVX, on the other hand, has a slow minting supply – which means that there is technically no cap. The coin supply grows at a glacial pace.
Why the Verge coin is Inferior to PIVX
The technology behind these two coins is really what solidifies the superiority of the PIVX coin. It all comes down to features, which it simply has more of. Reddit user turtleflax, who is active on the PIVX Reddit page, puts it best:
“Verge is basically just bitcoin with Tor integrated (most coins support tor anyway), so any feature of PIVX is an advantage over verge. SwiftX, governance, actual blockchain privacy, masternodes, staking ROI, internal funding mechanism, low inflation, proof of stake, environmentally friendly.”
And, if we are looking at price performance in the last month, PIVX absolutely takes the cake. Its price has gained 7.89% in the past month – but it has quadrupled in value since mid-November. And now it’s also tradable on Binance!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.