Vertcoin Investment: Worthwhile Or Worthless?

Vertcoin (VTC) is a cryptocurrency that was first launched in 2014. It is similar to Bitcoin in that it allows people to send and receive coins without needing a third party to verify transactions. However, Vertcoin has a larger supply and can confirm transactions faster than Bitcoin. While some analysts predict that Vertcoin's price will increase over the next few years, others believe that it will decrease. As such, it is challenging to determine whether Vertcoin is a good investment.

Vertcoin's performance and volatility

Vertcoin (VTC) was first launched in 2014 as a cryptocurrency that allows people to send and receive coins without needing a third party to verify transactions.

When VTC was first released in May 2014, it instantly went up to just over $5 per coin. However, over the next three months, it lost most of its value and went down to $0.091, remaining at this price for the next three years. In May 2017, VTC went on a positive run, reaching an all-time high of just under $10 in January 2018. Since then, its price has been decreasing and is now worth only $0.20 as of June 2023.

The cryptocurrency industry is extremely volatile, and it is not unusual to see huge price swings in a 24-hour period. Vertcoin has experienced very high levels of volatility. Its performance levels are similar to Litecoin, but Litecoin is significantly more popular than Vertcoin.

As of 2024, Vertcoin price predictions remain predominantly positive, with some analysts expecting the price to reach $1.505 by the end of the year. Other predictions for 2024 put the price at $0.0629, $0.1007, or $1.811.

Predictions for 2025 are more varied, with some expecting a price of $0.1324, while others predict $0.18, $1.811, or a range of $0.017586399071396124 to $1.811.

For 2026, predictions range from $0.01034 to $0.25, $0.28, or $1.811.

Some sources give a Vertcoin price prediction of $2.134 for 2027, while others expect $0.06552 or $0.07586.

Longer-term predictions for 2030 suggest the price could be $2.17668, $0.50, or as low as $0.02069 or $0.05448.

Some analysts are very positive about Vertcoin's future performance, while others are more pessimistic. It is important to remember that predictions are purely the opinions of those making them and should not be relied upon when making investment decisions.

Vertcoin's competition and partnerships

Vertcoin's competition includes other cryptocurrencies that perform much better than it, processing transactions at a faster rate. Its performance levels are similar to Litecoin, but Litecoin is significantly more popular, which is why it is a strong top 10 cryptocurrency. Vertcoin's transaction time is also slower than Bitcoin's, taking 2.5 minutes to confirm transactions, compared to Bitcoin's 10 minutes.

One of the major negatives that could affect the price of Vertcoin is that they are yet to form any major partnerships. Partnerships are important as they give the coin real-world usage. For example, if Vertcoin were able to do a deal with a corporation that wanted to start accepting its coin, then the price would go up massively. However, there appears to be no mention of partnership objectives within their most recent roadmap.

Vertcoin's roadmap and future events

The Vertcoin (VTC) website doesn't provide a clear roadmap for the future, but it does mention the recent completion of the Verthash Hardfork. This upgrade allows users to mine Vertcoin at home using their computers, harkening back to the early days of Bitcoin mining.

The Vertcoin roadmap for 2023, while lacking specific dates, includes several objectives that the development team aims to meet. These goals indicate that the team is committed to improving the Vertcoin ecosystem and increasing its adoption. Here are some of the key objectives outlined in their roadmap:

• Increasing Exchange Listings: Vertcoin aims to be listed on more cryptocurrency exchanges, making it more accessible to a wider range of traders and investors.
• Hardware Wallet Support: They plan to get their coin supported on popular hardware wallets like Trezor, providing users with a more secure way to store their VTC.
• Establishing the Vertcoin Foundation: The team wants to establish the Vertcoin Foundation to further strengthen the project's development and community.
• Improving Technology: Vertcoin aims to improve its technology to compete with other cryptocurrencies that offer faster transaction speeds.

While the roadmap doesn't mention partnership objectives, forming strategic alliances with businesses or other cryptocurrencies could be crucial for Vertcoin's future success and real-world usage. Additionally, increasing competition from other cryptocurrencies with better performance and popularity, such as Litecoin, is a challenge that Vertcoin needs to address.

Despite the lack of specific dates, the Vertcoin development team appears to be actively working on enhancing the project and addressing some of the challenges it faces. However, it's important to note that the cryptocurrency market is highly volatile, and the success of Vertcoin depends on various factors, including community support, adoption, and technological advancements.

Vertcoin's market capitalization

Market capitalization is calculated by multiplying the price of a cryptocurrency by its circulating supply. Vertcoin (VTC) has a circulating supply of 70 million tokens, with a market cap of $2.173 trillion as of 31 August 2024. The price of VTC is currently $0.05777, with a 24-hour trading volume of $11,033.72.

The market capitalization of a cryptocurrency gives an indication of its value and popularity. Vertcoin's market cap of $2.173 trillion is ranked #1838 on CoinGecko. A high market cap implies that an asset is highly valued by the market. Vertcoin's current market cap of $4.65 million is based on a live Vertcoin price of $0.07. The price of VTC has been as high as $0.0629, and as low as $0.00832.

The price of Vertcoin is calculated in real-time by aggregating the latest data across 4 exchanges and 6 markets, using a global volume-weighted average formula. The most popular exchange to buy and trade Vertcoin is CoinEx, where the most active trading pair is VTC/USDT.

Vertcoin's mining and hardware

Vertcoin Mining and Hardware

Vertcoin is a cryptocurrency that is climbing higher in the rankings and is known as the "people's coin". It is based on the Lyra2RE(v2) algorithm, which makes it ASIC-resistant, meaning it can only be mined on CPU and GPU computers. This makes it a beginner-friendly and safe option for those looking to get into crypto mining.

The Vertcoin network is unique in that it does not allow ASIC mining, taking us back to the early days of crypto mining when all that was needed was a decent graphics card or a PC processor.

Mining Hardware

To mine Vertcoin, you will need a GPU computer, a combination of a CPU, motherboard, RAM and HDD/SSD to install the required mining software, and a stable internet connection. When deciding on the number of mining rigs, it is important to check your power grid capacity to avoid electrical issues.

Mining Software

Vertcoin has its own mining software, called One-Click Miner, which is available for download from the official GitHub site. This software is user-friendly and can be set up with a few simple steps.

Mining Pools

Mining in a pool is a good option for those who want to join forces with other miners, combining hashing power and finding blocks faster and more frequently. While rewards are split, profits are higher in the long term. Popular mining pools include SuprNova and Cointoron.

Cloud Mining

For those who are not hardware-savvy, cloud mining is an alternative option. This involves signing a contract with a third party who will do the mining for you. This option is hassle-free and does not produce noise, heat, or dust.

Mining Profitability

The profitability of mining Vertcoin depends on various factors and can change over time. While it may not be optimal at the moment, it is important to note that the blockchain is dynamic and continuously evolving.

To calculate the potential profit from mining Vertcoin, you can use a Vertcoin mining calculator. This will take into account factors such as hashrate, power consumption, electricity costs, and pool fees.

Frequently asked questions