Civic Coin (CVC) is the cryptocurrency behind Civic, a wallet in addition to a method of verifying your identity. The project relies on cutting-edge technology to verify your identification while also protecting the transfer of your personal information. With Civic, you verify your identity a single time and do not need to repeat the process. In the future, you can use this identity verification for other KYC/AML requirements.
Civic aims to modernize identity verification and is now working toward identity.com, which is a first-of-a-kind open-source marketplace for selling identity verification services that use the blockchain.
What Is Civic Coin (CVC)?
The CVC token makes it possible for Civic to provide low-cost and secure identity verification relying on the blockchain. The original token sale in 2017 raised $33 million for the project. The Civic Coin is an ERC-20 token and, as such, it utilizes the Ethereum blockchain.
The Civic platform is free and readily available to the public. There are some small fees for certain transactions with digital currencies, as well as small fees for buying digital currencies. At the time of writing, Civic Wallet supports USDC, ETH, BTC, and CVC, with plans to expand support to include other currencies. Civic Wallet also has a $1 Million USD Cryptocurrency Protection Guarantee due to its insurance policy with Lloyd’s of London as the underwriters.
Civic Coin Price Prediction — What Does It Depend On?
The Civic Coin projection outlined below is based on the analysis of a range of factors since the price of cryptocurrencies does not exist in a vacuum.
Supply and Demand
As with any cryptocurrency, the pricing depends largely on supply and demand. If the demand for CVC increases without a corresponding increase in demand, the price would rise.
The demand for the coin would increase if Civic increases in popularity. Given the solidity of the project, combined with its trusted partner network, most Civic Coin forecast analyses view this possibility favorably.