When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This review of Vertcoin consists of three chapters: origin & background, price development and pros & cons.
Origin & Background
Vertcoin is decentralized cryptocurrency that launched in January of 2014. Accordingly, it has been around for a while. The coin has been gaining some traction at a fairly constant rate, but not nearly fast enough to make a momentous impact. The coin is currently valued at about USD 8.00.
One of the major objectives of the coin is to keep it away from different ASIC miners trying to mine it. The purpose is that a large network of people should mine the coin rather than only be dominated by the people having money to purchase costly mining tools. It’s a problem experienced by other cryptocurrencies and it has incessantly posed an issue for Bitcoin because ASIC miners practically have a lock on Bitcoin.
The development team behind the coin is at a volunteer level. Thus, the whole project works on 100% donations. Moreover, Vertcoin has an objective of becoming an entirely decentralized coin. It looks as though they have accomplished that and much more. Presently, it is an extremely interesting time for Vertcoin. The remuneration for mining a block was currently cut in half over a 24-hour period. And it’s possibly this will happen again so that more people can take advantage from an increase in value.
Vertcoin was trading for about USD 5.00 around launch. However, the coins decreased in value until it finally hit a price of only about USD 0.01-0.10 after a short four months. As a matter of fact, there were a couple spikes up to about $0.38 back in July of 2015 as well. And it all started to change last year (2017). At that time, Vertcoin Tokens started climbing to a range of USD 0.20 USD. Finally all the way up to USD 1.60 USD each and then on to a staggering USD 8.09 USD.
Pros & Cons
We have not identified any obvious cons with Vertcoin.