How to buy Bitcoin Gold
What to know about trading BTG and where to buy it.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Bitcoin Gold was created when Bitcoin (BTC) hard-forked on October 25, 2017, at bitcoin block 491,407. Bitcoin Gold cloned bitcoin's transaction history but tweaked the DNA to continue on its own evolutionary path.
Quick guide: How to buy BTG
- Register for an account with a cryptocurrency exchange like CoinSpot.
- Enable 2-factor authentication.
- Verify your account.
- Click “Deposit AUD”.
- Transfer funds into your account.
- Click “Buy/Sell” at the top of the screen.
- Search for the cryptocurrency you want and click “Buy”.
- Enter the amount you want to buy, or the amount of AUD you want to spend.
- Review the transaction details.
- Click “Buy”.
This is our quick guide to just one way to buy BTG. Compare some other options in the table below.
Where to buy Bitcoin Gold
Bitcoin Gold can be mined of bought at exchanges. The following exchanges support Bitcoin Gold — compare your options then click Go to site on the exchange of your choice to buy Bitcoin Gold.
How to buy or sell Bitcoin Gold
Bitcoin Gold can be bought and for both fiat currencies and cryptocurrencies.
How to buy Bitcoin Gold
- Find an exchange that supports BTG after comparing a few options.
- Sign up for the exchange and then decide how much Bitcoin Gold you want to buy.
- Provide payment and identification details such as credit or debit card. You may also need to fulfill KYC procedures.
- Buy your Bitcoin Gold and then consider moving it to a hardware wallet for safer keeping.
How to sell Bitcoin Gold
- Go to the exchange platform or wallet where you're holding your BTG. If you have your BTG in a digital wallet, then you can choose any platform from those listed above to complete your transaction.
- Enter the amount you want to sell and decide if the current exchange rate is right for you.
- Sell your BTG for fiat or crypto. If selling for cryptocurrency be sure to store your new crypto somewhere safe, like a hardware wallet.
Will BTG overtake BTC?
No one can say for sure. There are some factors you will need to consider though.
This fork wasn't like others
Each fork is intended to improve bitcoin by overcoming certain shortfalls.
- Bitcoin has previously forked into Bitcoin Cash (BCH) to improve transaction speeds, and the Segwit2x fork (at block 494,784) is intended to do the same.
Both of these use the same SHA-256 algorithm type as BTC. This means they're in more direct competition with BTC, because there's only a finite amount of hardware around to mine all three currency types. Miners will probably have to choose which one they'll spend their resources on.
But BTG will be using the Equihash algorithm instead, which cannot be solved using the same purpose-made ASIC BTC mining system. Instead, it's designed to be mined with general purpose hardware.
This is the currency's main feature. It's designed to be decentralised and to put more of the mining power back in the hands of the masses rather than small groups of traders.
On the other hand
Potential buyers need to consider whether BTG's new mining architecture can effectively decentralise the currency and whether that will necessarily be good for its value.
There have also been a number of issues, such as a distributed denial-of-service (DDoS) attack shortly after launch which prevented it from functioning, according to Motherboard, and a potential range of technical issues.
According to Forbes, users are also reporting difficulties connecting to other nodes of the network, which might strike directly at the main benefits and points of difference offered by Bitcoin Gold.
You will need to decide whether these issues are a concern and whether BTG will be able to overcome any reliability and technical issues. You will also need to decide whether correcting these issues will actually end up translating into an increase in value.
More guides on Finder
Cryptocurrency staking: How to stake coins for rewards
Staking is one of the most popular ways to earn an income with cryptocurrency – learn how to get started with this guide.
Bitcoin trading made simple
Build both your knowledge and Bitcoin wallet with this simple guide to trading.
Bitcoin price steadies around US$35,000 as markets recover from weekend losses
Bitcoin prices may be showing stability after recovering from the weekend's $11,000 plunge.
Balancer (BAL): How it works and where to buy it
Learn more about the BAL cryptocurrency in this beginner’s and buyer’s guide.
Luno cryptocurrency exchange – review
Buy bitcoin and Ethereum with selected fiat currencies through Luno’s easy-to-use platform.
What are the best US blue chip stocks of 2020?
Looking to buy blue chips? These are the best performing so far this year.
What old Bitcoin transfers tell us about the value of a coin
Where do we find the value of a Bitcoin once we peel away the myths of fungibility and privacy?
What is DeFi? Beginner’s guide to decentralised finance
Confused about DeFi? Find out how it works in this easy-to-read guide.
You can now pay for Bitcoin at Australia Post (with 5.9% in fees)
For only ~7% all up in fees and spreads you can start enjoying an impractical new payment method.
How one Bitcoin whale mangled the network
For its glassy surface, there are many things we can't see in the depths of the Bitcoin network.
Latest crypto guides
Ask an Expert