Yet another Bitcoin Fork is over and people are going crazy for it.
Most of the people dumped their altcoins and bought BTC before the fork in the urge of getting Free BTG. Since the Fork was concluded on 24th November 2017, everyone is eager to Dump there BTG or Store it for long-term returns.
Since this cryptocurrency is new there is not much information about its exchange, wallets and how you can Buy or sell it.
As I was getting a lot of emails and comments of the people asking about the ways to sell BTG, I did some research and thought to share it with you.
If you are not aware of what Bitcoin Gold is all about, then go ahead and read my complete guide about How to Double your Bitcoin with BTG.
Best Bitcoin Gold Exchange
Binance is a very popular and reputable cryptocurrency exchange which allows trading 98 crypto pairs.
Moreover, Binance is one of the first cryptocurrency exchange which started trading Bitcoin Gold just after the Fork on 24th October 2017.
Currently, you can not Deposit or Withdraw BTG but you can trade them in two pairs:
But, BTG trade can only be done if you had BTC in your Binance Account at the time of the snapshot.
Bitfinex is another popular Bitcoin exchange out there.
Bitfinex has created Chain Split Token which allows you to trade Bitcoin Gold once Bitcoin snapshot is completed.
Similar to Binance, Traders can not Withdraw or Deposit Bitcoin Gold directly. However, Bitfinex allows trading Bitcoin gold to the users who have Bitcoin in the exchange at the time of Snapshot or by depositing new BTC and exchanging them into CST.
You can go ahead and create an account on Bitfnex to start trading BTG.
YoBit is one of the early acceptors of Bitcoin Gold. They allowed trading BTG just after the fork.
YoBit is ready for Bitcoin Gold. Balances will be added 24-26 oct
— Yobit.Net (@YobitExchange) October 12, 2017
Similar to other Bitcoin Gold Exchanges, Direct Withdrawal and Deposit of BTG is not functional but we can expect it to be available once Bitcoin Gold blockchain is stable.
But you can easily trade BTG tokens, but this can only happen if you had BTC in your YoBit account at the time of the fork.
HitBTC is a Europe-based multi-cryptocurrency exchange that was launched in 2014.
HiBTC allows to trade BTG with two pairs:
Deposit and Withdrawal of BTG are not supported yet but it will soon be started once the BTG blockchain gets stable and ready.
But you need to keep in mind that, people who had BTC in their accounts at the time of fork are allowed to trade.
HiBTC also has demo trading which is a great way to start your trading journey without risking real money.
Checkout BTG-BTC market of HiBTC here.
Founded on 9 January 2014, Bitflyer is one of the biggest Bitcoin exchange of Japan.
Bitflyer support Bitcoin Gold and hence allows trading BTG on their platform.
They have also added an equal amount of BTG on every account which had BTC at the time of the fork.
Inorder to expand overseas, Bitflyer recently started selling Bitcoin in U.S. as well.
Someother Exchanges where you can Buy/Sell Bitcoin Gold are:
Get a Bitcoin Gold Wallet
Many users were also asked about the Best Bitcoin Gold wallet. Since Bitcoin Gold ecosystem has not completely developed yet, there are not many wallets for it.
But you can surely use Coinomi Mobile Wallet.
Coinomi is a leading multi-coin wallet which allows you to safely store your cryptocurrencies.
You can easily store Bitcoin Gold in Coinomi Wallet just by Downloading/Updating the Coinomi App. Then you need to add Bitcoin Gold under coins section. You can follow the complete guide of adding BTG to Coinomi here.
It allows you to store 18 coins and 214 tokens which is way more than any other wallet.
Currently, Coinomi is available only for Android devices and soon it will be available for iOS devices too.
Is Bitcoin Gold worth Investing?
Looking at the current scenario, Bitcoin Gold has not got much support from the people around the world. Bitcoin Gold price was around $800 at the time it was created but soon it came slashing down to $200.
The main contribution for such a huge drop can be to:
- Lack of Replay Protection – At the time of writing this article, Bitcoin Gold does not have proper replay protect and they are even running a Bounty program to find bugs.
- Lack of wallets – There are not many wallets and exchanges which support BTG, which in turn reduce the number of investors in this cryptocurrency.
On the other hand,
Bitcoin Gold has a leap over Bitcoin and Bitcoin cash as, BTG works on the GPU-based mining which would ultimately attract more miners and investors in the long run.
BTG is mined using general computer hardware and not through specially built ASICs, which are used to mine BTC. This inturn will lead the more general public to mine BTG which will actually make BTG decentralized, unlike BTC where mining power is accumulated to very few big miners.
This could be a good factor that people start using BTG once all the basic problems of BTG are sorted by the team.
So This is it for Today, I will keep on bringing new articles about the upcoming information about Bitcoin Gold like its wallets.
Now Segwit 2X is on its way and we will get to see another Fork of the legendary Bitcoin. I will keep you posted about that next fork and its necessary preparations as well, so make sure to press that ‘Red Bell Icon‘ to get instant notification.
Also have a look at other articles: