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How and where to buy Bitcoin Gold
What to know about trading BTG after the fork.
Bitcoin Gold was created when Bitcoin (BTC) hard-forked on October 25, 2017, at bitcoin block 491,407. Bitcoin Gold cloned bitcoin’s transaction history but tweaked the DNA to continue on its own evolutionary path.
Quick guide: How to buy BTG
- Register an account with a cryptocurrency exchange like CEX.IO.
- Go to account settings and verify your identity.
- Choose your currency and make a deposit.
- Go to the markets section.
- Click on the market for the trade you want to make. For example, buying Bitcoin with USD would be the BTC/USD market.
- Enter the amount your want to buy.
- Place a market order.
This is our quick guide to just one way to buy BTG. Compare some other options in the table below.
Where to buy Bitcoin Gold
Bitcoin Gold can be mined of bought at exchanges. The following exchanges support Bitcoin Gold — compare your options then click Go to site on the exchange of your choice to buy Bitcoin Gold.
How to buy or sell Bitcoin Gold
Bitcoin Gold can be bought and for both fiat currencies and cryptocurrencies.
How to buy Bitcoin Gold
- Find an exchange that supports BTG after comparing a few options.
- Sign up for the exchange and then decide how much Bitcoin Gold you want to buy.
- Provide payment and identification details such as credit or debit card. You may also need to fulfill KYC procedures.
- Buy your Bitcoin Gold and then consider moving it to a hardware wallet for safer keeping.
How to sell Bitcoin Gold
- Go to the exchange platform or wallet where you’re holding your BTG. If you have your BTG in a digital wallet, then you can choose any platform from those listed above to complete your transaction.
- Enter the amount you want to sell and decide if the current exchange rate is right for you.
- Sell your BTG for fiat or crypto. If selling for cryptocurrency be sure to store your new crypto somewhere safe, like a hardware wallet.
Will BTG overtake BTC?
No one can say for sure. There are some factors you will need to consider though.
This fork wasn’t like others
Each fork is intended to improve bitcoin by overcoming certain shortfalls.
- Bitcoin has previously forked into Bitcoin Cash (BCH) to improve transaction speeds, and the Segwit2x fork (at block 494,784) is intended to do the same.
Both of these use the same SHA-256 algorithm type as BTC. This means they’re in more direct competition with BTC, because there’s only a finite amount of hardware around to mine all three currency types. Miners will probably have to choose which one they’ll spend their resources on.
But BTG will be using the Equihash algorithm instead, which cannot be solved using the same purpose-made ASIC BTC mining system. Instead, it’s designed to be mined with general purpose hardware.
This is the currency’s main feature. It’s designed to be decentralized and to put more of the mining power back in the hands of the masses rather than small groups of traders.
On the other hand
Potential buyers need to consider whether BTG’s new mining architecture can effectively decentralize the currency and whether that will necessarily be good for its value.
There have also been a number of issues, such as a distributed denial-of-service (DDoS) attack shortly after launch which prevented it from functioning, according to Motherboard, and a potential range of technical issues.
According to Forbes, users are also reporting difficulties connecting to other nodes of the network, which might strike directly at the main benefits and points of difference offered by Bitcoin Gold.
You will need to decide whether these issues are a concern and whether BTG will be able to overcome any reliability and technical issues. You will also need to decide whether correcting these issues will actually end up translating into an increase in value.
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