This is how to buy Vertcoin – the following Vertcoin exchanges have proved to be stable and resilient, and are the best way to get some Vertcoin.
Vertcoin is another crypto-currency like Bitcoin but gained in popularity recently owing to its anti-ASIC properties and being friendly to both GPUs and CPUs in the future, due to the large memory requirement for mining. The amount of memory required for this keeps increasing based on a pre-determined schedule. The next increase is scheduled on Feb 25, 2016 and the last one is July 15, 2694. That’s a long way away and things would probably be very different then, and it’s very hard to predict the state of technology then. However, it’s good to see a coin with something interesting and unique.
Vertcoin has been a pretty big hit among miners and traders since its launch. Because of this, many Vertcoin exchanges opened and many existing crypto-currency exchanges added Vertcoin. Here is the list of the largest and most trusted ways to buy Vertcoin. This is a good guide to those who are relatively new to the space and want to steer clear of the lesser known exchanges to reduce risk. These are also the ones I would happily recommend for other altcoin trading/investing:
1. Bter: Bter has now really proven itself to be one of the best crypto-currency exchanges out there, with solid performance even during peak traffic times and adding the best altcoins very quickly while waiting on adding many crappy ones (like Cryptsy does) just to increase their fees. A big advantage of using Bter to buy Vertcoin is that you can use Chinese Yuan directly, if you are Chinese or have access to a Chinese bank account. For everyone else, they can buy and sell Vertcoin in Bitcoin. If you have to pick one exchange for this and want a quick, easy, reliable way to buy Vertcoin, just go for Bter. I personally use Bter for trading Vertcoin too.
2. Vircurex: Vircurex is one of the oldest altcoin exchanges in the game. It is a very fast, reliable exchange that has been operating for a long time now, although the ownership isn’t very open. Vircurex is very selective in adding new altcoins – the last one they added was NXT, another very promising and innovative idea. It is a big vote of confidence, I would say, for Vertcoin that Vircurex decided to add this coin to their exchange. You can buy Vertcoin with Bitcoin here. There are some ways to get USD or EUR onto Vircurex and you can buy Bitcoin with this fiat money and then convert to Vertcoin, but the methods are not really straightforward. The best way would be if you already own some Bitcoin and send them to Vircurex to trade in Vertcoin.
3. Cryptsy: I am putting Cryptsy after Bter and Vircurex even though Cryptsy is probably the largest altcoin exchange out there. The reason is simple – they have had way too many issues in the past and their communication and resolution of support issues has a bad track record. It’s true though, Cryptsy has the largest selection of altcoins (although I find that Bter takes the lead in adding promising altcoins before Cryptsy, e.g. Protoshares, NXT) and if you’re looking to actively trade a number of crypto-currencies, Cryptsy is almost a must. Also, if you already have an account there, it might be easy to just buy Vertcoin there. Do remember though that if you want to sell Vertcoin, Cryptsy charges a fee of 0.3% as opposed to a fee of 0.2% at Bter, so do be aware.
4. SwissCex: A very new exchange that looks promising. The only reason to use this would be for the fees – to buy Vertcoin, the fees are 0.15% (to sell, it is 0.2%) as opposed to 0.2% at Bter. However, the withdrawal fee is 0.1%, which is fairly high for large withdrawal amounts. Remember though that this is a new exchange and therefore has a much higher risk profile.
These are the best exchanges to buy and sell Vertcoin. Have you used any of these? Share your experience!