How to Transfer XVG Coin to Binance
There was a time just a few years ago, when cryptocurrency was touted as a flash in the pan. Even today, there are still doubters who preach about how it will never last.
And yet, there are literally millions of people trading these currencies online every day, making real profits.
The most well-known is Bitcoin, which endured a tumultuous end to 2017, fluctuating violently by hundreds of per cent. While economists and pessimists sniggered into their issue of the Wall Street Journal, the fact is that these currencies aren’t going anywhere anytime soon.
This is especially true when you consider the possibilities of blockchain – the insanely advanced tech behind Bitcoin.
So, more and more people are taking the leap into crypto trading.
The best coin exchange is undoubtedly Binance. There you’ll find a world beyond Bitcoin, with more currencies that you can shake your digital wallet at.
In this article, we’ll give you the insights on a rising one worth knowing about. Its name is Verge, but it’s also known as XVG coin. Let’s learn a little more about this currency, and teach you just how to move it around online.
What is XVG?
XVG coins were created in 2014, initially under the name DodgeCoinDark. Seeking to shed any association with illegal activities, the currency underwent a rebranding in 2016, changing its name to Verge.
The Verge cryptocurrency has a public ledger that is verified by blockchain technology. Therefore, privacy is a big focus for Verge.
- Created: 2014
- Symbol: XVG Coin
- Total Units: 16.55 billion
- Current Coins in Circulation: 14.38 billion
Whereas you can buy popular currencies like Bitcoin and Ethereum on the Coin Exchange, it’s not possible to buy XVG coin there. Instead, you’ll need to use Binance.
What is Binance?
Binance is a leading cryptocurrency exchange, with the number of active traders soaring in the past year. In fact, it was only launched in 2017, which makes its meteoric rise even more amazing.
There are a few reasons for its quick popularity:
- Binance lists over 100 popular coins
- Trading fees are only 0.1%
- You can use the Binance Coin to reduce fees by 50%
On the downside, you can’t use your credit or debit card to deposit on Binance. Instead, you must fund your account with some type of cryptocurrency.
How to Buy XVG Coin on Binance
Before you can buy XVG coin on Binance, you must register with Binance. Don’t fret though, because this won’t take long! Just follow the steps below to get set up:
1.Register on Binance through the App
Getting registered on Binance doesn’t take more than a few minutes. The Binance exchange app is available on both Android and iOS devices.
2.Verify your Binance Account
For security reasons, you must verify your account. Obviously, you don’t want anybody trading under your name…even if they are pretty good at it.
After you complete the registration form, log-in to the email address you used on the form, then click on the verification link to confirm that it was you who requested registration on the Binance website.
Note that you won’t need any verification to perform daily withdrawals under 2 BTC.
3.Initiate Cryptocurrency Transfer
Next, you must transfer some cryptocurrency to Binance. You can’t fund this exchange with your bank account or credit card – only cryptocurrency is accepted. Once you have some funds in your Binance wallet, you’ll be able to buy XVG coin.
Go to the ‘Funds’ link, located at the top of the main page. Select ‘Deposits’ when it appears in the menu.
Search through the cryptocurrency list on Binance to find the currency you want to deposit. The most common currencies to use for depositing on Binance are Bitcoin and Ethereum.
Use the drop-down option to search for ‘BTC’, saving yourself time and hassle trawling through all the options.
4.Copy Wallet Address
A wallet address will be generated. Copy this address to your own external wallet, or else to whichever coin exchanges you have your Bitcoin funds stored in.
5.Transfer Cryptocurrency to Binance
Determine how much XVG coin you want to buy on Binance. Remember to add a little more to cover transaction fees.
When you set the value, send it to the generated address. After a few minutes, your Bitcoin funds will be credited to the wallet on your Binance account.
6.Exchange Cryptocurrency for XVG Coin
Select the ‘Exchange’ link, which is beside the Binance logo. Then click on the ‘Basic’ option.
After the page loads, navigate to the top-right area to find the XVG/BTC pairing. Using the search box will save time.
7.Decide How Much XVG Coin to Buy
Below the chart, you can find the ‘Buy’ section. There are two boxes displayed here:
- Price – shows you how much Bitcoin you must pay for each XVG coin.
- Amount – This is where you enter the quantity of XVG coins you want to buy.
Enter the amount of XVG coins you want to buy, or else select the ‘100%’ button to use all deposited Bitcoin funds.
8.Buy XVG Coin
Click the ‘Buy XVG’ button to complete the purchase.
Your Verge coins will appear in its respective wallet on the Binance exchange pretty soon. After a few minutes, you can transfer your XVG coins to your external wallet.
So, that’s all pretty straightforward. But what if you want to do the reverse? How can you transfer XVG coin from your external wallet onto the Binance coin exchange platform?
I thought you’d never ask!
How to Deposit XVG Coins into Binance
Most people want to get XVG coins from Binance, which is why they typically deposit Bitcoin onto the platform to buy Verge currency, as we discussed in the previous section.
However, hopefully the day will come when your stockpile of XVG coin becomes highly valuable, and you’ll then want to put it back onto Binance and sell it.
Here’s how you can do that.
1.Open the Binance App
First of all, you need to open up the Binance app. You can do this on your Android or iOS device, or your computer.
When the app opens, select the ‘Funds’ option that is located at the bottom side of the screen. Next, select the ‘Deposit’ option, which is the top-right corner.
2.Navigate to the Binance Wallets
Here, you must select the respective wallet that you want to deposit coins into. In this case, you select the Verge wallet, as you’ll be transferring XVG coins from your external wallet.
Select the option ‘Select Coin’, and then you will be directed to the Binance wallets section.
3.Find the Verge Wallet for XVG Coins
Find your Verge wallet in the list of available cryptocurrency coins. If you want to take the fast option, just type XVG into the search bar.
4.Copy the Destination Address
The Verge wallet will appear, accompanied by the destination address. You must copy the destination address to your clipboard.
Alternatively, if you are on a smart device, tap the button for the QR code. This will open up a unique QR code, which you can scan with a second smart device. Make sure you have enabled 2FA to allow this method.
5.Open your External Source Wallet
Now, open your external wallet. This is the source that you will transferring XVG coin from. Open the app for this source wallet on your device.
6.Paste the Destination Wallet Address
When the source wallet opens up, you will see the destination box is empty. You can either paste the destination address from the Verge deposit wallet here.
Alternatively, if you opted for the QR code, use the camera on the second smart device to scan the code here.
7.Confirm Details before the Transfer
Check that everything is in order. When you’ve confirmed it is, then select ‘Send’ to transfer your XVG coin from your external source wallet to Binance.
The transfer shouldn’t take long. After a few minutes, you will be able to see the updated balance in your Verge wallet on Binance.
From there, you can trade your XVG coins on the coin exchange.
The Future of XVG Coin
As you probably know, the volatile nature of the cryptocurrency market makes it difficult to make projections with any real certainty.
At the end of 2017, Verge coin jumped around wildly, similar to many other alt coins, even soaring some 2700% over a period of just a few weeks. Some people predict a bright future of this cryptocurrency, but it’s hard to know. You’ll just have to jump in and start trading to see how it works out!