Bitcoin Gold (BTG) was born on October 24, 2017, when the developers of the coin decided to initiate a hard fork (an update of the network that is not compatible backward) of the Bitcoin (BTC) blockchain. The original goal with the creation of BTG is to decentralize the mining of the cryptocurrency.
Compare Exchanges to Buy Bitcoin Gold (BTG)
Bitcoin Gold was born from the idea of opposing ASIC mining chips. As Bitcoin is mined mainly with ASIC mining rigs – expensive, high-performing equipment that is specialized in mining cryptocurrencies -, large mining pools (a group of miners) are dominating the Bitcoin network. Bitcoin Gold developers wanted to change this by implementing an algorithm that is ASIC-resistant – meaning that miners using this kind of equipment are unable to participate in the BTG network. Bitcoin Gold allows GPUs (Graphics Processing Units) exclusively to be used for mining the coin.
While Bitcoin Gold is only just over a year old, the cryptocurrency has already rewarded its investors with great returns. After a few days it was created, BTG was standing at $113. In only two months, the coin’s priced increased to $474, which is more than four times the original price.
While Bitcoin Gold is not in the top 10 cryptocurrencies (it’s currently holding the 24th place among the largest coins by market cap), BTG is popular among users with the digital currency trading on over 75 Bitcoin Gold exchanges. 75 services seem like too much to choose from. So now you are asking yourself: where to buy Bitcoin Gold? Let us answer this question by showing you the top BTG exchange services and brokers where you can buy Bitcoin Gold.
How to create a Bitcoin Gold wallet?
Best Exchanges to Buy Bitcoin Gold
Binance is a well-respected exchange on the Bitcoin Gold market and among cryptocurrency enthusiasts. Founded in 2017, the service managed to become one of the favorite exchanges of crypto users due to its fast registration process, a wide variety of coins, stable service, and the fact that you don’t need to verify your account if you are trading normal amounts of cryptocurrencies. Though Binance lacks fiat deposits and withdrawals, so you have to possess one of the four base currencies in order to buy BTG on the exchange.
In its huge list of cryptocurrencies, Binance includes Bitcoin Gold too. So, it’s time to start trading by creating an account, setting up the required security measures, depositing funds, and buying BTG.
Step 1: registering
Account registration on Binance is quite fast. Ready your email and a strong, but also easily memorable password, click “Register” on the service’s websites and fill in the form with the required details. When you are ready, check your inbox for an email from Binance to verify your email address.
Step 2: 2-factor authentication (2FA)
As you are holding cryptocurrency on your Binance wallet, you need to be extra careful about the security of your coins. A great security measure offered by the Bitcoin Gold exchange is 2-factor authentication (2FA). If 2FA is enabled, you will be required to use another device to log in to your account. This adds extra security. In case a hacker acquires your login credentials, he needs access to your device too that you are using for 2FA.
On Binance, you can choose to set up 2-factor authentication either via Google Authenticator or your phone number. To use the first option, download the Google Authenticator app to your mobile device and integrate it with Binance as shown on the exchange’s website. If you choose to set up 2FA via your phone number, you’ll get a text message every time you are trying to log in with a code inside, which you should type into the required field.
Step 3: deposit funds
After your account is secured via 2FA, you are safe to deposit funds to the Bitcoin Gold converter. You can find the “Deposits” tab under the “Funds” menu. Head there and choose from the list of cryptocurrencies. It is advised to select one of the four base currencies on Binance (BNB, USDT, BTC, ETH) as it will allow you direct BTG trades. If you deposit a coin other than the base currencies, it’s no problem either. When your funds arrive at your Binance account, convert them to one of the base currencies before buying BTG.
Step 4: Buying
Now that you have cryptocurrency on your Binance account let’s start trading. Select BTG from the list of base currencies. On the next page, you will see a chart and different options (limit, market, and stop-limit) to trade Bitcoin Gold.
If you don’t know what these mean, let us explain. Limit orders let you set the Bitcoin Gold price you want to trade at. This will allow you to get a good Bitcoin Gold rate, though if you set a too low BTG price, it could take some time until your trade executes. Market orders are the fastest of all three as they execute almost instantly. However, it will not guarantee you the best Bitcoin Gold rate. And last, but not least, stop-limit orders are best suited for short-term trades. With stop-limit orders, you can set a minimal (in case you are buying) Bitcoin Gold price. If the Bitcoin Gold price reaches that value, your trade will execute automatically.
Now, choose from either of these options and execute your trade to buy Bitcoin Gold.
Changelly is a BTG exchange featuring almost instant transfers. The service is really convenient as you don’t have to provide any personal details except for your email address, and trades usually execute between 10 and 30 minutes. Changelly accepts Bitcoin Gold credit card purchases. However, due to the exchange and its service provider’s fees, Changelly takes a commission of almost 10 percent from your transaction.
Good Bitcoin Gold news! You don’t have to verify your account on Changelly for trading normal amounts of coins. Moreover, we can leave the deposit part out completely as the BTG exchange takes the money right from your wallets or cards when buying Bitcoin Gold. Now, let’s continue with our step-by-step guide!
Step 1: registering
Registering an account on Changelly is as easy as 1-2-3. Click “Join” in the top right corner of the page and fill in the details with your details. Similarly as Binance, you’ll only need your email to register on Changelly. For a faster process, you can use Google+, Facebook, or Twitter.
Step 2: verify your email
As with most accounts you create on the internet, you have to verify your email address after signing up. Check your inbox for a message from Changelly and click the link inside to verify your email.
Step 3: 2-factor authentication (2FA)
As security is super important when you are using any kind of platform that offers trading services, you should take some measures yourself to protect your account. Head to the “Settings” tab in your newly created Changelly account and check out 2FA. You have to download Google Authenticator to your smartphone to activate 2-factor authentication – you can find the link for both iOS and Android on the 2FA page.
Step 4: trading
As you don’t have to deposit funds to Changelly, we can continue with buying Bitcoin Gold. Head to the homepage of the service and select the currency you want to use to buy BTG as well as Bitcoin Gold from the list. Choose how much coins you want to purchase and proceed to the next page. If you are using your credit card to buy Bitcoin Gold, fill in the form to execute the trade. Your BTG should arrive between 10 and 30 minutes.
CEX.IO is one of the oldest cryptocurrency exchanges. The Bitcoin Gold exchange was founded in 2013 in London, the UK. At the time, the operators of the service were also running a cloud mining solution – that, at a point, got so large that it possessed 42% of the total hash rate of the network. CEX.IO features a BTG exchange and trading platform that is fairly easy to use. The exchange accepts credit card payments with reasonable rates (2.99%).
Now, let’s see how to buy BTG on CEX.IO. Unlike the previous cryptocurrency exchanges, CEX requests you to verify your identity before you can start trading on the platform. Therefore, we’ve included that in a separate step.
Step 1: registering
Head to the “Register” tab on CEX.IO and continue with filling in your details. The service offers plenty of alternative registration methods, which will make your user experience better and your account creation faster. You can choose from Google+, Telegram (you can also use the Telegram Passport to verify your identity), Facebook, VK, and GitHub. After you are done, proceed to the next step.
Step 2: verification
Now, that your account has been created, you need to verify it in order to start trading. To do that, you need to download the CEX mobile app to either iOS or Android. The verification part can become tricky as we were unable to log in via third-party services (such as Google+) from phone, so we needed to create another account without using Google+.
If you manage to log in to your account on your smartphone too, you can start verifying your identity. CEX will ask you to take a photo of the front and back of either your government ID, driver’s license, or passport. After that, you have to make a note stating that you are a CEX.IO customer. Then, you need to make a selfie with the note and your identity document in your hands (which can also be a bit tricky to do).
Step 3: deposit funds
The next step is to deposit funds to your account. Head to the “Deposit” tab and select between the different payment methods (credit card, bank transfer or CryptoCapital). While credit card payments are more expensive, they take less time to arrive. After you are done selecting your payment method, proceed by selecting the amount of funds you want to transfer.
Step 4: trading
As soon as your funds have arrived on your account, you can start trading. Head to the “Trade” tab and find the Bitcoin Gold USD (BTG/USD) pair. To exchange BTG to USD, select the amount of Bitcoin Gold you want to purchase. Please note that, like Binance, CEX’s trading platform has different order types. As you now know what limit and market orders are (if don’t, head back to step 4 of the Binance guide), we won’t explain those. The third option, margin trading, is not available for BTG, so you can leave that out. If you prefer a good Bitcoin Gold exchange rate, go for the limit order, in case you want to execute the trade as fast as possible, choose the market order.
Coinbase is a San Francisco-based cryptocurrency exchange that has served millions of customers. The service is one of the most newbie and beginner-friendly exchanges in the crypto space – you can purchase your first coin with a few clicks using the user-friendly interface of Coinbase. The crypto exchange supports credit card payments with one of the lowest fees on the market. Therefore, if you choose this option to buy cryptocurrency, you don’t need to deposit funds into your account. Instead, you can go right ahead to buy your coin of choice.
However, a major downside of Coinbase is in its support for coins. The exchange trades only a handful of digital currencies, and, unfortunately, Bitcoin Gold is not one of them.
Plus500 is an Israel-based broker that offers CFD trading for multiple assets, including stocks, forex, and cryptocurrencies. This service is regulated in multiple countries, including top-tier regulators, such as the UK’s FCA. In addition to that, Plus500 is traded on the main market of the London Stock Exchange. Due to the aforementioned fact, the broker has to comply with different regulations and laws. Therefore, its service has to be more transparent and fair than competitors that are not traded on a stock exchange. As cryptocurrencies are offered as CFDs on the broker’s service, there’s no need for users to hold their coins on crypto wallets. However, you are not the actual owner of the digital currency you trade on the platform. And CFD trading is considered as a high-risk activity, so you should be careful with your trades.
Unfortunately, Plus500 only supports a limited number of coins and Bitcoin Gold is not among the supported digital currencies. Read back to see our step-by-step guides on services that support BTG.
Buying Bitcoin Gold in Your Country
Bitcoin Gold becomes more and more popular in most countries, including the United Kingdom. Therefore, plenty of cryptocurrency exchanges and brokers are supporting the digital currency. While this is a great thing, there is also a downside. And that is confusion. It can become a struggle to find the best Bitcoin Gold wallet for UK citizens from so many solutions that have been deployed. But here we are to help you!
Testing numerous services, we have come to the conclusion that Binance is the best platform to buy BTG for the citizens of the United Kingdom. The crypto exchange has very low fees and relatively high account limits, so you don’t have to verify your account if you are trading normal amounts of coins. To buy Bitcoin Gold in the UK via Binance, check back to read our step-by-step guide on the cryptocurrency exchange.
Both Canadians and Americans are interested in buying Bitcoin Gold. While there are many services where you can buy BTG, due to the strict regulations of the USA and Canada, many of the crypto exchanges are denying support for citizens of the aforementioned countries. But let us help you in showing the way to buy Bitcoin Gold in the USA and Canada.
Fortunately, Changelly is not among the services that are denying support for Canadian and US users. This cryptocurrency exchange just accepts everyone from the Earth as their customer. Creating an account is easy at Changelly, you only need an email address. The best feature of the cryptocurrency exchange is its near-instant nature; your funds will be credited within 30 minutes after the transaction has been initiated.
While Aussies are interested in buying BTG, many services are focused mainly on Europe and North America. So, we need to find you the best cryptocurrency exchange where you can buy Bitcoin Gold in Australia. And that service is Binance where the Oceanic nation is one of the supported countries. The exchange features a wide variety of digital currencies, high account limits, and inexpensive trading fees. To see detailed steps on how to use the service to buy BTG, read back to find our tutorial.
Differences between buying and trading Bitcoin Gold
- You own the Bitcoin Gold, you have the right to move it, sell it, and transfer it as you wish.
- Traditionally associated with longer-term (Multiple months to years)
- Assets can be used just as fiat currencies are; for purchases, or for payments
- Somewhat safer than trading directly using margin or with borrowed funds
- BTG trades use contracts for difference (CFDs)
- You don’t actually own Bitcoin Gold, you own a representation of Bitcoin Gold which is in the form of a contract
- Traditionally associated with shorter-term positions or ideologies about Bitcoin Gold because using margin accrues fees very quickly
- Higher risk is implied because you’re buying contracts on margin (Borrowed money from the broker)
Alternative Methods to Buy Bitcoin Gold (BTG)
Credit card transfers are really convenient, especially when buying cryptocurrencies. While bank transfers take multiple days to arrive and you have to wait until the weekend is over for financial institutions to resume transferring your funds, card payments allow for almost instant transactions.
However, credit card crypto purchases are more expensive than bank transfers. The latter cost only a few percents or none at all, while credit card fees can go as high as 10 percent. So, you have to carefully check which provider to use.
As Bitcoin Gold is not as widely adopted as Bitcoin (BTC), you have limited options for credit card purchases. If you want to use a BTG exchange, CEX.IO offers the best rate (2.99% officially, but some users say it adds up to 8% with hidden fees) for that. On the flip side, in case you don’t want a wallet for Bitcoin Gold trading, check out brokers, such as IQ Option. On IQ Option, deposits are free, so you just need to deposit fiat via a credit card to your account, then use your balance to buy Bitcoin Gold.
We have screened the internet as well as the brokers and exchanges offering BTG trading, and we couldn’t find a solution to buy Bitcoin Gold with PayPal. It seems that the brokers and exchanges are either not supporting PayPal as a payment method or BTG is not offered for trading on the services. So, unfortunately, you are unable to exchange Bitcoin Gold to PayPal balance.
You don’t need to use fiat currencies to buy BTG. As BTC is widely accepted as a base currency at different cryptocurrency exchanges, you can buy Bitcoin Gold with Bitcoin. This comes handy at times especially when you have a BTC balance that you seek to exchange to BTG. Let us show you how you can do that on Binance.
Firstly, create an account at the cryptocurrency exchange. Set up 2FA, then head to the deposit area and send BTC into your Binance wallet. When your funds have arrived, head to the trading platform of the exchange. Choose Bitcoin from one of the four base currencies and find the BTG/BTC trading pair. Select the amount of coins you wish to purchase, your order type, and execute the trade. For more information on how to buy Bitcoin Gold on Binance, read back to find our step-by-step guide.
So we have shown you the best services you can use to buy Bitcoin Gold. You also know that credit card transfers are fast, but a bit expensive and owning BTG on your wallet has its downsides and upsides. Unfortunately, you can’t buy Bitcoin Gold with PayPal.
Now, it’s your time to choose the service and the payment method you want to use to buy BTG. We recommend Binance as it is a trusted cryptocurrency exchange featuring a wide variety of coins as well as high limits without verification.
Subscribe to our newsletter to receive Bitcoin Gold news and more articles like this!