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Verge (XVG) sets the tone for mass adoption with FLOGmall

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Verge (XVG) has become one of the best-known cryptocurrencies over the last sixty days, especially when their mystery partnership  (on April 17th) became public. It was a MindGeek‘s partnership that allowed XVG to become a payment method for Pornhub. While this was very misunderstood, it left no doubts that it was profitable for both parties, especially Verge, as it can only increase XVG’s exposure and demand.

The current market trend is bringing XVG down against the dollar, as it went down by 19% in last seven days. But Verge is focusing on making sure its coin and technology are adopted massively. Let’s have a look at how they are going about that.

Verge’s listing announcement on BiteBTC

The XVG team announced a couple of days ago, via their official Twitter account that the XVG cryptocurrency will be listed on BiteBTC, an influential exchange market.

The team also announced that XVG would be ready for live trading and investing starting from May 10th as it becomes part of the BiteBTC market listing.

Any coin listed in a new exchange will always bring trading volume and exposure, which is why this is an exciting development for Verge. It’s expected that XVG will grow in value soon.

All the previously mentioned reasons strongly suggest that XVG’s value will rise soon as the market’s current trend gets worn out and most of the crypto coins start to trade in the green once again (that’s already started, in fact).

Verge XVG Debit Cards

A little over two weeks ago, TokenPay proclaimed they would be buying 9.9% fo shares of a Bavarian German bank. The point in this is to issue debit cards on cryptocurrencies. Then TokenPay announced that their first choice for that would be XVG.

This is no surprise at all. TokenPay supported XVG during their first crowdfunding campaign. They endorsed XVG on their first crowdfunding campaign and the keep the support going until the MindGeek partnership became a reality.

It’s no surprise at all for TPAY to choose Verge as the first alt-coin to become available through a debit card issued by the bank. Token pay gave XVG a lot of support during their initial crowdfunding effort. Their continued support also allowed Verge to get the Pornhub partnership that made them the talk of the town.

The deal is done as confirmed by a Verge’s official tweet a couple of days ago. The German bank was mentioned so those debit cards will be available quite soon.

Verge on FLOGmall

Verge (XVG) had further good news for fans when they announced on Twitter they will be a payment method for Flogmail from May 10th.

Flogmail is a quite new player in the e-commerce world that takes in all kinds of currencies, Verge’s XVG being the most recent one. It provides electronic trade services that connect buyers and sellers painlessly enabling both of them to complete each transaction in a variety of options.

This move is maybe not as bit as Pornhub, but every move Verge makes to make it a real and practical payment method for average users is a smart move. At the very least it gives them exposure.

Verge and the market now

The market had a bit of a break on May 9th. Most currencies dropped a bit, and Verge went with the trend. As of today, Verge lost 19.72% against the dollar in last seven days, which is a bit steep. It also lost about 12% against Bitcoin.

Green bars are starting to build in the market, Verge’s XVG also increased in value by 4% in last twenty hours. This all means that right now Verge’s XVG currency is available at $0.06 per unit, which is very low if you take into account it’s been as high as $0.22. Still, that’s actually good news for the investors – this is the time to get it in bulk.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Chart courtesy of NGlomb via Flickr

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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