Bitcoin Gold is an improved version of Bitcoin. The main difference between the new cryptocurrency is the change in the mining mechanism. Most of the mining is now controlled by large international pools (eg BitFury). Pools have thousands, if not millions of dedicated computers that process terabytes of information around the clock. This prevents ordinary users from mining bitcoins.
The creators of Bitcoin Gold propose to deprive miners of power through a special Equihash mechanism. This mechanism makes it difficult for industrial mining, allows an ordinary computer owner to earn Bitcoin Gold. This will allow the market to get rid of the diktat of miners, according to the creators of the cryptocurrency.
Cryptocurrency wallet Bitcoin Gold Bitcoin Gold
Each of us asks the question of where is the best place to store the Bitcoin Gold (BTG) cryptocurrency, at the moment there are reliable wallets of different types to store this coin, namely cold, online, electronic, hardware, mobile, as well as you can store your crypto on the exchange wallet. Many wallets are multicurrency. Some wallets you can download to your computer or install on your smartphone, but there are those that you can buy on the Internet and connect to your computer via a USB port. We recommend everyone to store large amounts, for a long time, in cold wallets, and store small investments in Bitcoin Gold on exchanges in the medium term, for a quick opportunity to sell the coin at a favorable rate.
After the process of mining bitcoin gold was launched and new blocks were added to the network, the bitcoin gold rate to bitcoin showed active growth. This pair has a high level of volatility and will be of interest to active traders.
How to buy and sell BTG/BTC?
For a simple exchange of one cryptocurrency for another, you must have one of the indicated currencies and use specialized cryptocurrency exchanges. However, to make money on the change in its value, it is better to use a broker or trading platforms.
There are two ways to buy BTG, like most other cryptocurrencies. The first involves the use of fiat money. The purchase takes place at exchange offices. The second option is to buy bitcoins that will provide Gold.
Let’s start with exchangers.
- First you need to find a suitable one. To do this, you can use a search engine, and manually start searching on your own, studying possible offers and choosing the most profitable and suitable ones among them.
- Study the information about exchangers, read reviews and conditions required for transactions. Most exchangers offer to follow standard procedures – to register and identify by providing your data.
Cryptocurrency exchangers are much more convenient to use than exchanges, at least, the reviews of most users testify to this. To make the most profitable purchase, it is better to initially buy bitcoins, and then exchange them for Gold.
The rate of the crypt has been constantly changing; mountains and falls have been observed over the entire existence of Gold. The start of the coin began with a record price of $ 480. In just a couple of days the price rose to $ 540, but very soon it dropped to $ 127. The large-scale correction was stopped by a massive listing. In just a month, the rate stabilized and settled within $ 480. At the same time, capitalization exceeded 5.5 billion.