7/25/2023 0 Comments Verge electrum walletIn the event that you don’t already have an existing account on an exchange and are not holding Bitcoins or Ethereum, open an account on Coinbase and purchase Bitcoin or Ethereum. On this basis, we would, therefore, recommend Binance as the preferred exchange for Verge and the XVG/BTC pairing.īelow is a Step-by-Step guide to buying Verge (XVG) with other cryptocurrencies: By volume, Binance has the largest market share, with Binance’s XVG/BTC accounting for just over 44% of total Verge trading volumes. Buying Verge with Cryptocurrenciesįor those looking to buy Verge with cryptocurrencies, you will need to go through an exchange that caters for the XVG/Altcoin pairing that you are looking to buy the Verge coins with. While not many exchanges cater for the purchase of Verge (XVG) with fiat currencies, HitBTC does provide for an XVG/USD pairing for those looking to purchase with fiat currencies. One option would be to buy Verge (XVG) with fiat currencies, with the second option being to buy with another cryptocurrency. With the wallet now created, there are two ways in which you can buy the XVG coins. Once the wallet is open, select the receive tab and copy the receiving address to a file for safekeeping, as you will need this address when buying your XVG coins. The next step in the wallet process is to enter a password, that is also particularly important and if you forget it, will result in the loss of your coins. Once the wallet has been downloaded to your desktop, unzip the file and run the executable, in the Electrum Wizard, select ‘Create New Wallet’ and ‘Standard Wallet’ assuming that you are not looking for a wallet that requires multi-user and significantly higher security characteristics.Īt this point, you will receive a ‘seed’ for the wallet, which needs to be stored and backed up somewhere safe as this is needed to restore your wallet in event of a loss of the wallet. The fact that additional steps are required in case an Electrum wallet is not used, suggests that an Electrum wallet is the best option, the only downside being that Electrum wallets are currently incompatible with android phones. Verge has also provided the option to download Verge blockchain in order to speed up the process of setting up for holding XVG coins if an Electrum wallet is not chosen. In addition to the preferred tab, which has a number of wallets to choose from, there are also individual tabs that separate wallets by desktop, mobile and other, though we would recommend downloading from the preferred tab for obvious reasons. On the Verge website a number of wallets have been recommended, catering for MAC, Windows and Linux users as well as for OSX and Android mobile phones. When deciding on a wallet, as with all other cryptocurrencies, it is advised to choose a wallet that has been recommended by the cryptocurrency’s website. Your private keys need to be EXTREMELY secured by you.Step 1 – Create Verge (XVG) Digital Wallet You should have written this down already in a safe place ? backup the “Wallet” folder under your “data directory” (default at C:\Users\xxYOUxx\AppData\Roaming\Electrum-XVG) When you first create the an electrum wallet, you will get 20 new addresses. *It’s a good idea to make a shortcut to this path The default data directory on Windows is located at:Ĭ:\Users\xxYOUxx\AppData\Roaming\Electrum-XVG The directory where you unzipped the electrum-xvg files.There are 2 main directories of the Electrum “Clearnet” Wallet They are different, and you will need BOTH.įiles/Directories of an Electrum “Clearnet” Wallet You should strongly consider encrypting with a pass phrase that’s DIFFERENT from your SEED. Just like it says, it is absolutely CRITICAL that you save this to a safe place.Īfter you make your initial wallet, I would even try to create a new wallet and use the seed to restore, just to make sure it works. Go to where you just unzipped Electrum-XVG, go into the lib folder, and replace the existing network.py with the network.py we downloaded. In the first section we downloaded the network.py file. Simply create a directory anywhere on your hard drive, and unzip. Optional:Įlectrum-XVG for Windows isn’t really an install as much as it is an “unzip”. Just save this file to your downloads folder for now, we will come back to it real soon. Right click on “Raw” and click “Save Link As” In this example, you only need the 32 or 64 bit zip. The file for windows will be labeled as such.
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