We compare five of the most popular wallets for storing, sending and receiving Bitcoin Gold (BTG).
Bitcoin Gold forked from bitcoin in November 2017 with the goal of fixing what its team perceived to be some of the design flaws of bitcoin. While there are certainly some similarities between Bitcoin Gold and the original bitcoin, you’ll need to make sure that any wallet you choose to store your BTG is actually compatible with Bitcoin Gold since some bitcoin wallets don’t support this newer digital currency.
Since Bitcoin Gold is still a relatively new cryptocurrency, there are fewer options for holding BTG compared to some of the more established coins. We’ve brought together five of the most popular BTG wallets in the guide below to help you find one that suits your needs.
Best wallets for Bitcoin Gold (BTG)
Key things to look for in a Bitcoin Gold (BTG) wallet
If you’re a crypto newcomer, choosing a wallet for your Bitcoin Gold can seem overwhelming. There are many different types of wallets available, each with their own pros and cons, so make sure you look for the following key features when comparing your BTG wallet choices:
- Security. Knowing you’ve got your cryptocurrency stored in a secure place is paramount for any crypto trader. Hardware wallets are generally considered to be the most reliable in terms of security, as these USB-style wallets store your private keys offline. However, regardless of the type of wallet you choose, remember to also look for added security features like two-factor authentication and an easy-to-use backup facility.
- Private-key ownership. Some wallets, typically those belonging to exchanges, don’t allow you to retain ownership of your private keys. This means that anyone who gains access to those keys could potentially steal your funds, so search for a wallet that doesn’t require you to place your private keys in the control of a third party.
- Transparency. Make sure you look at the company behind the wallet you’re thinking of using. Doing your research prior to using their services is the best way to figure out whether they’ve had any security or customer service issues in the past or if they have received a large number of complaints.
- User experience. Cryptocurrencies are complicated and managing your holdings can be a confusing task. Having a wallet that is easy to use, easy to understand and easy to access is important, especially if you’re new to the space.
Five wallets for storing Bitcoin Gold (BTG)
Ledger Nano S (hardware wallet)
- High level of security, simply to use yet very effective
One of its key features is the small organic LED (OLED) screen built into the device, which provides additional protection when displaying your private keys.
This is an important security factor as it means that your private keys are never shown on a mobile or computer screen where they are at risk of being compromised by apps and malware that take screenshots of your device. This screen also allows you to quickly and conveniently verify all transactions.
The Ledger Nano S can be accessed offline and is compatible with most common computer systems including Windows, Mac, Linux and Chrome. However, like any other hardware wallet, it doesn’t come free and was priced at €79 (about CAD$125) at the time of writing on 28 February 2018.
TREZOR (hardware wallet)
- Security system, easy to set up and user-friendly
The TREZOR hardware wallet is another popular choice for anyone who wants to store their crypto offline. The TREZOR is a USB-style hardware wallet and has been designed to provide protection against the threat of keyloggers that might record the keystrokes necessary to gain access to your funds.
The TREZOR does this by generating a randomized PIN code each time you want to access your wallet and displaying it on the LED screen of the device so it’s for your eyes only.
There are no usernames or passwords necessary since the device acts as your credentials. It also utilizes two-factor authentication and allows you to add a passphrase for extra security.
Setting your TREZOR up is an easy process, taking roughly 10-15 minutes, and it works on Windows, Apple and Linux desktop operating systems. Once again, the main drawback is the cost. At the time of writing in February 2018, this hardware wallet was listed for €89 (about CAD$140) on the official TREZOR website.
Exodus (desktop wallet)
- Suitable for beginners, a user-friendly software interface
- Relatively new company, no two-factor authentication
Exodus is a desktop wallet that can be used to store over 25 different cryptocurrencies, including Bitcoin Gold. It was the first desktop wallet to include built-in integration with ShapeShift, a tool that allows you to exchange cryptocurrencies in seconds. It’s a relative newcomer, having been launched in July 2016, but has already proven to be a popular wallet.
Exodus is free to download and has been designed for people who are just starting out in crypto and therefore might not be ready to drop any money on a hardware wallet. The interface avoids using overly technical language and has a hands-on support system in place, including a comprehensive list of FAQs and articles explaining its features, troubleshooting and more.
One downside of Exodus is the slightly higher level of risk involved in using it rather than a hardware wallet. As a desktop wallet, it works by providing you with an online client interface that you can use to access and transfer your crypto, storing it all on your computer.
Another consideration is the lack of two-factor authentication, which is a handy security feature offered by many other wallets.
However, if you’re looking to get started in the world of cryptocurrency and you aren’t entirely sure about your level of commitment, Exodus is worth a look. It’s available on Windows, Linux and Mac OS.
Storing Bitcoin Gold in an exchange walletStoring your BTG in an exchange wallet is not a recommended practice unless you plan on making frequent trades as there have been many documented cases of crypto exchanges falling victim to hackers. Theft perpetrated by the operators of some less reputable exchanges has also been reported. Therefore, it’s generally recommended that you transfer your BTG away from an exchange and into a secure wallet.
Coinomi (mobile wallet)
- Stores multiple cryptos, easy to use, good security features
- No iOS app as of yet
Coinomi is a mobile cryptocurrency wallet for Android devices and boasts a host of impressive features. Its biggest selling point is support for an extensive range of crypto coins and tokens – as well as Bitcoin Gold, it can also hold bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and more than 80 other digital currencies.
It’s easy to install and set-up takes just a few minutes, while the user interface is similarly straightforward. Sending and receiving payments can be done without hassle, and it’s easy to keep track of your crypto holdings. There’s also ShapeShift integration to allow for quick exchanges between currencies.
From a security standpoint, this wallet allows you to retain your private keys on your device rather than storing them on Coinomi’s servers. It’s also hierarchical deterministic (HD), enabling you to secure your holdings with one passphrase, and doesn’t require you to jump through any Know Your Customer (KYC) hoops to access your funds.
However, mobile wallets simply can’t offer the same high level of security as hardware wallets. It’s also worth pointing out that Coinomi currently doesn’t have an iOS app. The app is listed as coming soon, and a beta version for iPhone users was available at the time of writing.
Bitcoin Gold Core (desktop wallet)
- Security and privacy, designed with BTG storage in mind
- Uses space and memory, fewer features than other wallets
The Bitcoin Gold Core wallet is the digital currency’s official full node wallet and it stores your private keys on your computer. As well as storing, sending and receiving BTG, it also allows you to mine BTG.
Available for Windows, Mac and Linux operating systems, it’s a secure storage option that allows you to control and manage your BTG holdings.
However, since it’s a full node wallet, it does take a while to download and uses up a significant amount of hard drive space. It’s also not as user-friendly as third-party “light” wallets and can’t offer the same level of useful features. Finally, remember that if you’re looking for a wallet to store multiple different crypto coins and tokens, this option is only designed to hold BTG.
Tips for securely storing your Bitcoin Gold
To store your Bitcoin Gold as safely as possible, consider the following tips:
- Back up your data. Regardless of which wallet you choose, ensure you back it up as often as possible. This helps you to maintain security, privacy and protection for your funds, and gives you the ability to recover your holdings if anything goes wrong.
- Two-factor authentication. If two-factor authentication is available, make sure you enable it. It provides an added layer of protection to your wallet and gives you a second step to access your wallet in the event your password is compromised.
- Strong passwords. If you choose a wallet that allows you to add in a passphrase on top of a PIN code, don’t pick something obvious or frequently used. The best passphrases are long, randomly generated ones, and you should change them every few months for added security.
- Install reliable security software. Schedule routine scans and keep your antivirus software updated to better protect your devices from any sort of malware, spyware and viruses.