Is CVC coin a good investment in 2023?

The continuous rise of trading information online comes with ever-growing concerns about the security of one's identity. Fortunately, there are ways to alleviate this problem, one of which is the identity-verification protocol, Civic.

Its native currency, CVC crypto, facilitates payments on this platform and maintains its blockchain as a whole. But apart from these two uses, does this cryptocurrency offer more benefits that make it a good investment for 2023? Find out the answer to this question and more below:

What is Civic cryptocurrency?

Civic cryptocurrency (CVC) is the native token of Civic, the AI-powered protocol that aims to prevent data breaches online. This protocol takes advantage of the advanced decentralised technology of blockchain to provide people with a safe and easy identity authentication process for different platforms.

Every year, millions of users online are subject to hacks which put their sensitive information at risk. Users can avoid online fraud by gaining more control over their private data.

What is a CVC coin?

Civic coin (CVC) is an ERC-20 token that functions on the Ethereum blockchain network. In a nutshell, the digital asset serves as a settlement in an identity-related transaction between users and trusted service providers.

Once the identity is stored within the blockchain, users can share this information with service providers they can trust, eliminating the tedious Know-Your-Customer (KYC) and other verifying protocols. 

Aside from this, CVC serves other purposes in its network. For one, it's used to incentivise members of the Civic community to maintain the network. It also serves as the main payment method in the Civic network.

What is the CVC coin used for?

The CVC coin can be used in several ways, such as the following:

Electronic signature (e-signature)

E-signatures are virtual versions of your signatures that should always be kept safe. They're commonly used to authorise something on your behalf, whether a document, agreement, etc. 

Security

The main use of CVC is to reinforce security. More specifically, it aims to prevent data breaches from happening. At the same time, it makes it easier for you to verify your identity whenever you're using your trusted service providers.

Registration and verification

Entering your personal information every time you create a new account for a service provider can be hassling. With CVC, you can eliminate this redundant process by storing your verified identity on its blockchain network. And when you need to use it, you only need to share this information with your trusted service providers.

This way, your sensitive information will be impossible to hack, and your verification process with different service providers will be much easier and faster.

Civic coin future

The following CVC price analysis is based on data gathered at the time of writing. Currently, this digital asset's price is valued at 0.118 USD and ranks 301st among all cryptocurrencies. Meanwhile, its total supply is at 1,000,000,000 with a market capitalisation of $106,71M.

Observing the difference between CVC's price today to what it was 30 days ago shows that the asset has increased in value. From January 9th, the price of CVC grew from 0.08163 USD to 0.1363 USD this February 9th. Not only that, but the cryptocurrency also saw a growth in popularity over the past four months, which is evident by its increased trading volume, which now stands at 11.1M USD.

With this in mind, analysts forecast that Civic will continue to grow in trading volume and price over the next months or even years.

How high can Civic go?

Based on the ongoing market trend for CVC coins, the CVC crypto price prediction is said to go as high as 0.20 USD throughout 2023. But by 2030, it could reach as high as 2.44 USD. Let's delve more into the CVC coin price prediction below:

Civic crypto price prediction

To predict the future value of a cryptocurrency, you need to consider both on-chain and off-chain metrics. The former refers to publicly accessible transactions, while the latter are private and publicly inaccessible transactions. Moreover, you can also look at the changes in various factors such as trade volume, exchange rates and volatility.

Using past and current data, we've gathered the price predictions for Civic coin for the rest of 2023, 2025 and 2030. Check out this chart to learn more:

Civic coin price prediction 2023

According to analysts, 1 CVC will cost an average of 0.16 USD (also its minimum price) throughout 2023. Meanwhile, its projected maximum price could reach up to 0.20 USD.

Civic coin price prediction 2025

In 2025, CVC is predicted to reach an average trading price of 0.35 USD. Meanwhile, its minimum and maximum levels will approximately sit at 0.35 USD and 0.40 USD, respectively. This conclusion was reached after analysing CVC's past price data.

Civic coin price prediction 2030

Lastly, the estimated average price for Civic by 2030 is approximately 2.08 USD. It could reach a minimum value of 2.01 USD and is projected to reach up to 2.44 USD as its maximum price.

Why should you invest in CVC coin?

Data security is always a priority in the digital world of crypto, so CVC coin is a worthy investment. Thanks to blockchain technology, this crypto asset solves the lingering concern about identity theft by allowing users to verify their identity securely and easily.

Although stability isn't always set in stone in a volatile market like this, the CVC coin proves to be a great long-term investment for its high level of data protection.

Where to buy Civic coin?

You can buy Civic coins from one of the many exchanges that support it. However, choose one that offers fast, cheap and reliable services to get the most out of your funds.

Fortunately, you can find this coin listed in leading crypto exchanges available today, such as Binance, Coinbase and OKX. From there, you can start to trade your USD or any fiat currency you prefer for Civic coins. 

How to Buy Civic coin?

Once you've found the perfect exchange that supports CVC and caters to your personal preferences simultaneously, you can start investing in this digital asset. 

Here's a quick and general guide on buying cryptocurrencies such as CVC:

1. Create an account on the exchange

You'll be required to create an account on the exchange before you can start depositing funds and buying crypto assets. 

Usually, these platforms come with two-factor authentication (2FA) or any other authentication method to ensure that the person creating the account is indeed you. Complete these processes for added security.

2. Connect/create your wallet

The next step is connecting your existing crypto wallet to your exchange of choice. Alternatively, some exchanges like Binance offer a wallet extension which you can use to store and seamlessly transfer your crypto assets.

Some of the best crypto wallets today include Metamask, Coinbase Wallet, Exodus and more.

3. Start buying CVC

Once you've followed the two aforementioned steps, you can proceed to purchase CVC using any payment method your chosen crypto exchange offers.

Moreover, you can use two types of orders to purchase CVC and other cryptocurrencies: limit and market order buy. The former means buying the asset at its current market price, while the latter means buying it at an indicated specific price. Once the CVC price drops to your indicated price, the order automatically executes.

Should you invest in CVC?

With a promising prediction from crypto experts, Civic seems to be a great cryptocurrency to invest in, especially after its good start in January 2023.

The growing interests among crypto enthusiasts surrounding the platform are thanks to its goals of using blockchain technology to secure identity verification. Considering this and its price growth at the start of the year, it would be a safe prediction that the CVC coin will rise further in the following months of 2023.

Frequently asked questions about CVC coin

Why is Civic coin going up?

At the time of writing, CVC has been on the rise for seven straight days. However, there is no real way of defining its trajectory as the crypto market is highly volatile.

How many Civic coins are out there?

The total circulating supply of CVC stands at 1,000,000,000 CVC.

When was the Civic coin launched?

The Civic coin was launched back in 2018. It had an Initial Coin Offering a full year before its release, and it immediately sold out.

Is Civic coin secure?

Since Civic coin functions on Ethereum's decentralised blockchain, you can rely on its security thanks to its proof-of-work consensus mechanism. This means that many nodes work and verify each transaction made to ensure that there's no kind of tampering done in the network.

Is Civic coin a good cryptocurrency?

CVC's value has been appreciating lately, and it may be a great time to invest in it now. However, make sure not to invest more than you have since you can never predict the crypto market because of its volatility.

Will the Civic coin go up?

There's no real way to determine the answer to this question, but based on its price trajectory at the beginning of 2023, crypto analysts forecast that it will continue to rise over the following months.

Words by: Jericho Paradeza