Vgx Coin: A Smart Investment Decision?

The VGX token is a cryptocurrency that has been through a turbulent time in recent years. In 2022, its parent company Voyager Digital filed for bankruptcy after the crypto hedge fund Three Arrows Capital defaulted on a $670m loan. This caused the value of VGX to plummet, and it has been in freefall since. However, there are some positive signs for the token. It is now managed by the VGX Foundation, separate from Voyager Digital, and is focused on the gaming space. The token is also now available on several prominent exchange platforms, and its current live price is $0.017994. So, is VGX a good investment?

What is VGX?

VGX is a cryptocurrency token associated with the Voyager Digital crypto exchange platform. It was launched in October 2018 by the Voyager Foundation, which aimed to aggregate crypto trading and make it more accessible to users. The Voyager Token (VGX) was primarily used as a reward and loyalty token for the Voyager brokerage platform.

The Voyager platform uses a Smart Order Routing technology that allows it to sort prices across several online crypto exchange platforms, offering users the best possible price. This technology also makes it easier for traders to enter and exit their positions. The platform also offers cashback rewards and other incentives for users.

The VGX token has had a volatile price history, with an all-time high of $12.54 in January 2018 and a low of around $0.11 in May 2024. There have been predictions that the token could rise to $50 by 2030, but these long-term estimates are highly uncertain.

In summary, VGX is the token associated with the Voyager crypto exchange platform, which offers various incentives to its users. The price of VGX has been volatile, and while there are predictions of future gains, the cryptocurrency market is notoriously unpredictable.

VGX price history

The VGX token was launched on 18 July 2017 at a price of $0.06. In 2018, when the cryptocurrency market was performing extremely bullishly, the token saw its biggest breakout, reaching a record high of $12.54 on 5 January 2018. This was followed by another uptrend, which peaked at $5.02 on 10 May 2018.

However, the token's price began to decline after reaching its peak in May, and it ended the year at around $0.12. The downward trend continued into 2019, with the token trading at $0.06713. The year 2020 saw a further drop in price, with the token reaching $0.02755 in October and ending the year at $0.1539.

VGX finally broke the $1 mark again in 2021, with its price reaching $2.80 on 30 January. The token's price continued to rise, hitting a high of $6.90 on 20 February. However, it ended the year at a lower price of $2.9115.

In 2022, the token's price took a turn downward, falling to $1.74 on 1 January. It traded between $2.20 and $1.50 for the first few months of the year before resuming its downward trajectory, following the broader cryptocurrency market. The token's price continued to fall throughout the year, ending at $0.31 on 22 December.

As of 25 August 2024, the VGX token's price is $0.017994. This represents a decrease of 0.04% in the last 24 hours. The token's current ranking is #1168, with a live market cap of $6,166,503 USD.

Pros and cons of investing in VGX

Pros of Investing in VGX

The Voyager Token (VGX) has several features that make it a potentially attractive investment option. Firstly, the Voyager Foundation is dedicated to improving the experience of cryptocurrency traders by offering more efficient services. The project has the qualities of a successful platform, and investing in the VGX token means supporting this ecosystem. Additionally, the token appears to be underpriced, so investors can take advantage of the low price and potentially realize greater returns in the future.

Another advantage of VGX is that users who buy and hold the token on the Voyager platform can earn interest and cashback rewards. The platform also offers commission-free trading, which is a significant benefit compared to other cryptocurrency brokers. The Voyager Token also has a strong utility, as it is used to reward and incentivize users within the Voyager ecosystem. The platform offers optimal prices by aggregating prices from various cryptocurrency exchange platforms, allowing investors to assess liquidity levels and spreads.

Cons of Investing in VGX

One of the main risks of investing in VGX is the inherent volatility and uncertainty of the cryptocurrency market. Investing in nascent technologies, such as blockchain, is always risky, and the price of VGX is heavily dependent on the success of the Voyager ecosystem. There is also the risk of regulatory changes and the impact of news and other factors that can affect cryptocurrency prices.

Additionally, the Voyager platform filed for bankruptcy in July 2022 due to its exposure to the bankrupt hedge fund Three Arrows Capital. While there are predictions of a potential price surge for VGX, there is no guarantee that it will recover to its previous highs. The complex nature of the cryptocurrency market makes it challenging to accurately predict coin prices, and investors should always conduct their own due diligence before investing.

How to buy VGX

Step 1: Open an online account

The simplest way to buy VGX is by opening a Voyager account. However, you can also access it from other exchanges. Setting up a Voyager Trading Account is similar to setting up any brokerage account. Here are the steps:

• Download the Voyager app from the Apple App Store.
• Complete your user registration with basic information such as your name, email, and phone number.
• Start your Voyager Trading Account by providing the information required by any licensed financial institution.
• Link your bank account and start trading. Go to the User Icon, select "Bank Agreements," fund your account by linking your bank account, and transfer at least $10.

Step 2: Buy a wallet (optional)

When you open an account on an exchange like Voyager, your coins will be stored in an exchange-hosted wallet. However, if you want more control over your private and public keys, you can consider using a hardware or software wallet. This extra layer of protection will allow you to store the public and private keys that ultimately control your crypto assets. Voyager Token lives on the Ethereum network (ERC-20), so it can be stored on any wallet that supports ETH.

Step 3: Fund your account and purchase VGX

Once you have funded your Voyager Trading Account (or another VGX-supporting exchange), you are ready to buy VGX. Your first purchase can be as little as $10. Go to the Market Screen, navigate down to VGX, hit "Buy VGX," specify the amount, and confirm the purchase.

Additional Information:

• VGX is available for trade across prominent cryptocurrency exchange platforms such as CoinBase.com, Binance, CoinBase Pro, Bitvavo, Uniswap (V3), ZT, and FTX.
• When buying VGX on the Voyager platform, users can earn up to 5% interest on their crypto balance.
• VGX is considered a high-risk investment due to its volatility and the inherent risks associated with cryptocurrencies and blockchain technology.

VGX price predictions

VGX is a play-to-earn GameFi token led by the VGX Foundation, which makes strategic grants to Web3 gaming companies to incorporate the VGX token into play-to-earn models. The VGX community can earn VGX by playing these games, and the token serves as both an in-game currency and a reward mechanism for player achievements.

The VGX token is currently on the ERC-20 standard, but the team is working on a bridging solution to make the token chain-agnostic. The current live VGX Token price is $0.017994 USD, with a 24-hour trading volume of $9,940,652 USD. The token is up 0.04% in the last 24 hours and has a live market cap of $6,166,503 USD.

The VGX price predictions for the rest of 2024 vary. One source predicts that the VGX price will reach $0.28 by the end of the year, while another predicts that it will reach $1.4391, with a potential low of $0.7287.

For 2025, the VGX price predictions range from a low of $1.1947 to a high of $2.3540. The average price for 2025 is expected to be around $1.8028.

By 2026, the VGX price is predicted to be between $1.882 and $3.701, with an average price of $2.944. In 2027, the price is expected to continue rising, with a projected range of $2.966 to $5.818 and an average of $4.808.

The VGX price predictions for 2028 are more bullish, with estimates ranging from $4.673 to $9.148 and an average of $7.853. By 2029, the price is expected to reach new highs, with a projected range of $7.362 to $14.382 and an average of $12.824.

Finally, for 2030, the VGX price predictions are even more optimistic, with a projected range of $11.599 to $22.610 and an average of $20.944. Some sources even predict that the VGX price could reach $50 by 2030.

It is important to note that cryptocurrency markets are extremely volatile, and it is difficult to accurately predict a coin's price in the long term. These VGX price predictions should not be considered financial advice, and thorough research is recommended before making any investment decisions.

Frequently asked questions