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.
- 1 Buy Bitcoin Gold in 5 steps on eToro
- 2 What is Bitcoin Gold?
- 3 Differences between buying and trading Bitcoin Gold
- 4 How to buy Bitcoin Gold on Binance?
- 5 How to buy Bitcoin Gold on Changelly?
- 6 How to buy Bitcoin Gold on CEX.IO?
- 7 How to buy Bitcoin Gold on IQ Option?
- 8 How to buy Bitcoin Gold on eToro?
- 9 How to buy Bitcoin Gold on Coinbase?
- 10 How to buy Bitcoin Gold on Plus500?
- 11 How to trade Bitcoin Gold with a trading robot?
- 12 How to buy Bitcoin Gold with Credit Card?
- 13 How to buy Bitcoin Gold with Paypal?
- 14 How to buy Bitcoin Gold with Bitcoin?
- 15 Do you need a Bitcoin Gold Wallet?
- 16 How to create a Bitcoin Gold wallet?
- 17 How to buy Bitcoin Gold in the UK?
- 18 How to buy Bitcoin Gold in the USA and Canada?
- 19 How to buy Bitcoin Gold in Australia?
- 20 How to sell Bitcoin Gold?
- 21 Conclusion
- 22 FAQ
Buy Bitcoin Gold in 5 steps on eToro
- Navigate to the official website of eToro and register an account
- Verify your identity and address with the required documents
- Deposit funds to your account
- Select Bitcoin Gold and how much BTG you want to trade
- Execute the trade
What is Bitcoin Gold?
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.
We have created an account at these services, carefully testing them. We based our selection of Bitcoin Gold exchange services on our experience, handpicking you a list of the best of the best service providers. In addition to showing you the services, we also included a step-by-step guide for each on how to buy BTG. Let’s dive in after we have explained the difference between trading and buying the cryptocurrency.
Differences between buying and trading Bitcoin Gold
While sometimes the two words are used as synonyms, there’s a major difference between buying and trading Bitcoin Gold. If you decide to buy and hold the coin, you are making a mid to long-term investment. On the other hand, trading BTG is a short-term thing. When trading the cryptocurrency, you try to make smaller profits (taking advantage of the volatility of the crypto market), but these profits add up as you make more trades. If you buy and hold Bitcoin Gold, you are in for big times; you seek to make a huge amount of potential profits with a long-term investment.
Both options have both upsides and downsides. Buying and holding Bitcoin Gold requires no trading experience or knowledge from the user. But – on the flip side -, you are unable to short BTG. If you go with trading BTG, most services allow you to place both buy and short orders. Therefore, you can make potential profits even in a downtrending crypto market, which can become useful when coin prices have just crashed. Unless you use a crypto robot platform – we will talk about this later on this article -, you need at least a basic currency trading knowledge as well as experience to make profitable trades with Bitcoin Gold (and other coins). Traders usually deploy both fundamental and technical analysis – using different indicators -, so you should at least test your knowledge on the aforementioned techniques before you start trading BTG.
How to buy Bitcoin Gold on eToro?
eToro is one of our favorite platforms to buy cryptocurrencies. The broker – that is regulated in multiple countries, including the UK and Australia -, offers outright coin trading for its customers. It means that you are the real owner of the digital currency you are trading on the platform – as opposed to the earlier cryptocurrency offerings of the platform, which were based on CFDs. eToro is a smart, easy to use, newbie-friendly platform that has awesome social trading features (like copy trading).
eToro would be a great platform to buy Bitcoin Gold. But unfortunately, the service does not support Bitcoin Gold in any form.
How to buy Bitcoin Gold on Coinbase?
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.
How to buy Bitcoin Gold on Plus500?
Plus500 is an Israel-based broker that offers CFD trading for multiple assets, including stocks, forex, and cryptocurrencies. Similarly to eToro, 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.
How to trade Bitcoin Gold with a trading robot?
While “manual” trading – where you are using different indicators to deploy your own technical analysis in addition to fundamental analysis – need certain expertise from users, automated trading solutions do not have such requirements. Instead of manual analysis, the aforementioned applications use algorithm-based robots that are scouring the market to make potential profits fully automatically. These services have been present on the fiat market for a time, and have been implemented into cryptocurrencies – such as Bitcoin Gold – as coins have become increasingly popular.
The main benefit of Bitcoin Gold trading robots is time. As opposed to manual trading, you don’t need to sit in front of your computer screen all day to determine the best entry and exit points for your trades. You just simply have to set up the robots that will use algorithms to find those points for you. Therefore, you are making potential profits fully automatically, without the need to continuously interact with the assets you are trading. The only thing you have to do is monitor the performance of the bots. Furthermore, most crypto robot platforms use their own strategies and indicators to find the best trades, so you don’t need any trading skills to use such an application.
To trade Bitcoin Gold with a trading robot, you need to first find the service of your choice. We have a page dedicated to crypto robot platforms, which might be worth for you to check out. After you have created an account at a service, you need to deposit funds into your account, set up your bots, and they will do all the trading for you.
How to buy Bitcoin Gold with Credit Card?
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.
How to buy Bitcoin Gold with Paypal?
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.
How to buy Bitcoin Gold with Bitcoin?
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.
Do you need a Bitcoin Gold Wallet?
If you are using a cryptocurrency exchange to buy Bitcoin Gold, you need a BTG wallet. However, if you are using a broker, such as IQ Option, you don’t need a wallet as Bitcoin Gold is offered via CFDs.
Both options have their upsides and downsides. By owning Bitcoin Gold, you are contributing directly to the value of the cryptocurrency as well as its community and network. On the flip side, cryptocurrency can be stolen by hackers, so owning coins is not as secure as trading crypto CFDs. However, with a few tweaks, such as setting up 2FA for your wallet and the Bitcoin Gold exchange you are using, can fix that issue. It is also recommended to buy a hardware wallet, such as the Ledger Nano S or Trezor, to be completely secure from hackers.
How to create a Bitcoin Gold wallet?
In case you are purchasing BTG on a cryptocurrency exchange and planning to hold the coins for a time, you need to create a Bitcoin Gold wallet where you can safely store your assets. Since its launch, BTG has been widely accepted in the crypto community. Therefore, numerous wallet solutions have been created to store the BTG coins of users. Now, let’s see two of the best ones and how you can use them to create a Bitcoin Gold wallet.
The first solution is Exodus, a multi-coin wallet that supports a reasonable number of cryptocurrencies. Fortunately, that includes Bitcoin Gold too. Exodus has a beautiful interface and an easy to use software. To create your BTG wallet on the service, you need to first download the app to your desktop.
The second Bitcoin Gold wallet we are showing you today is Coinomi, another multi-asset wallet with one major difference from Exodus – the service is available for smartphones in addition to desktops. There is support for all major operating systems – Android, iOS, Windows, Mac, and Linux included. In addition to BTG, Coinomi supports over 500 digital currencies. To create your Bitcoin Gold wallet at Coinomi, head to the website of the service and download its wallet to your platform of choice.
How to buy Bitcoin Gold in the UK?
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.
How to buy Bitcoin Gold in the USA and Canada?
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.
How to buy Bitcoin Gold in Australia?
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.
How to sell Bitcoin Gold?
After BTG’s price has gone up to a limit where you are satisfied, you may choose to sell the coin for profits. But how and where can you sell Bitcoin Gold? Let us tell you the where first, the cryptocurrency exchange Binance. And now let’s see our brief tutorial on selling the coin on the service.
Firstly, you need to create an account at the cryptocurrency exchange. When you are done, you need to set up 2FA as soon as possible to protect your coins. If you are ready with that, head to the deposits section and select Bitcoin Gold. Use the wallet address shown on the page to send coins to your Binance wallet. When your BTG has arrived, head to the trading page. Choose your preferred coin from the four base currencies (BTC, ETH, BNB, and stablecoins), then select the relevant BTG trading pair. Set the amount and order type, then execute the trade.
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.
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