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Exchange Bitcoin Gold

Bitcoin Gold is a fork of main Bitcoin Blockchain and is based on the same principles of anonymity and easiness of transactions. The difference is that it’s based on a new algorithm that restricts the use of specialized computer chips for mining. You can perform Bitcoin Gold exchange on our website, BestRate.org.

BTG makes mining decentralized by adopting a PoW algorithm, Equihash, which can’t be running faster on the special Bitcoin mining equipment. However, it give ordinary users a benefit and makes digital currency distribution more fair.

Bitcoin Gold is designed as an open-source software project and has great community support.

In order to exchange Bitcoin to Bitcoin Gold you need to set up a wallet for both of these currencies first. We recommend to use the wallet named Exodus.

Check how to get started with Exodus on their wiki page.

For Bitcoin, we recommend to use the wallet named Jaxx.

Set up Jaxx wallet on your PC

1. First, you need to install the Jaxx application on your PC. You can do it by the link below:

https://jaxx.io/downloads.html
Select the desktop version, download and install the app. Accept the terms of service and privacy policy and create a new wallet:

2. If you have multiple alternative currencies select the custom wallet:

3. Select the virtual currencies you possess:

4. Select the fiat currencies you possess:

5. On the next step, Jaxx will ask you if you want to backup your wallet. Agree, as this is very important in terms of security of your digital funds.

6. Jaxx will generate a mix of 12 words that are not related with each other, which makes it really difficult to remember. Write down this word set somewhere in a paper notebook or any other item that can’t be hacked via internet.

7. Type this word mix on the next step:

8. Then Jaxx will ask you if you want to set up a security PIN. Agree and proceed to the next step. Set up your 4-digit PIN-code and verify it:

That’s it, now you have a Jaxx wallet on your PC.

How to exchange BTC to BTG

Select the cryptocurrency that you want to exchange for Bitcoin Gold and put in the amount.

Select the best Bitcoin Gold exchange price for the transaction.

Type your Bitcoin Gold address.

Copy the address provided by bestrate.org.

The transaction will be created and processed after that. You will see its status displayed on your screen.

How to sell Bitcoin Gold

Select the cryptocurrency to buy with Bitcoin Gold, put in the amount and repeat the procedure described above for cryptocurrency exchange.

BestRate.io provides you with the best bitcoin exchange rates so that you could maximize your profits.

What is Bitcoin Gold

Bitcoin Gold (BTG) is an open-source cryptocurrency project that was developed by volunteering bitcoin enthusiasts.

It is a hard fork of Bitcoin which took place on 24 October 2017 at block height 491407. When bitcoin is hard forked, a new branch of the blockchain is created with the same transaction history as original bitcoin up until the hard fork. After that, it exists together with bitcoin and makes up a new cryptocurrency.

Although BTG is very similar to Bitcoin in its essence, Bitcoin Gold standard aims to solve the issue of expensive mining. Bitcoin can be mined on special equipment which has significantly risen in price and made an entry impossible for most of usual people. Bitcoin Gold has changed the algorithm used to solve blocks which allowed this coin to be mined on usual computers which gives an equal opportunity for everyone.

Advantages of using Bitcoin Gold

In addition to giving regular users an equal chance to mine new coins, Bitcoin Gold gives its users a number of advantages in comparison with traditional fiat money (USD, EUR, etc.).

Security

Bitcoin Gold coin is much more secure than any traditional ways of payment. You can be sure that your crypto funds are absolutely safe on your wallet with unique address.

Faster payments

The money is transferred much faster than it is with traditional banking system.

Liquidity

Bitcoin Gold takes the 19th line at coinmarketcap.com website. It has very high daily trading volume ($20 B) and the market capitalization of approximately $900 B. It is available for trading on such exchange platforms as Binance and Bitfinex. It has very high liquidity and you can always sell it at a good price.

BTG definitions

Cryptoasset

This is what any asset secured by cryptography is called. In most cases, cryptoassets are based on blockchain technology.

Exchange

A platform where you can buy and sell cryptoassets.

Node

This is a public ledger where all the transaction history is kept.

Market cap

For every cryptoasses its market capitalization is the multiplication of the total value of the coin supply by the price per coin.

BTG investment strategy

There are many strategies that will help you make profits on cryptos. You can select the one that will correspond with your desire to risk. In this article, we don’t give any financial advice, we just put in the guide for information purposes only.

The easiest and the safest strategy is “buy and hold”. You can buy BTG and wait until its price rises significantly. If Bitcoin Gold is ever to replace fiat currencies even to the smallest extent, it will be much more valuable than it is today.

Set up notifications for specific price levels at the service TradingView. Once the price reaches the desired amount, you just go to an exchange platform, sell Bitcoin Gold and count your margins.

Where to keep BTG

If you’ve decided to invest in Bitcoin Gold, you should decide first where you’re going to keep it as the security of your funds is only for you to manage. There are many wallets that support BTG, each one having different level of security. We’re going to review the most popular ones.

Hardware wallets

Ledger Nano S

By far, this is the most secure wallet for Bitcoin Gold coins or any other cryptocurrency. It’s a hardware wallet that is not governed by any third party, so it’s only you who can control your private keys. It works with Windows, Mac, Linux and Android phone and allows you to keep unlimited number of coins.

Trezor

This is another hardware wallet with enhanced security. It is integrated with encrypted password managers and also comes with 2-factor authentication feature.

Desktop / Mobile wallets

Coinomi

This is a software wallet that works on multiple devices (Windows, Apple, Android).  It supports most major altcoins and tokens, including Bitcoin Gold.

Exodus

Another software wallet that works on Windows, Mac and Linux.

Bitcoin Gold Core wallet

This is a software wallet that works on multiple devices (Windows, Apple, Android).  It supports most major altcoins and tokens, including Bitcoin Gold.

How to transfer BTG securely

With crypto payments, there’s no third party to govern your transactions and give you money back in case you send them to the wrong address. That’s why you should be extremely careful when making payments with Bitcoin Gold coins.

Never type a wallet address manually

It should always be a copy-paste procedure. The Bitcoin Gold addresses are long and case-sensitive. Just one small mistake, and your money will be lost forever with no chance of recovery.

Look up the transaction fee

A good Bitcoin Gold wallet will display the estimated transaction fee for you. Pay attention to this part and check that this is a decent amount.

Double check the address

There are many malwares in the wild that once injected, replace the address where you want to send your funds to the one that belongs to hackers.

After copying and pasting the address where you want to send Bitcoin Gold, check it at least 2 more times. Look at the first and last several numbers and letters and make sure that they coincide with the needed address.

Test before sending

Before you send a full sum to the recipient, try sending a small amount of BTG first. This will help you to ensure that the money is delivered successfully.