How to Buy Bitcoin Gold (BTG) in 2021: A Simple Guide

Bitcoin Gold (BTG)In this guide you’ll get information about where to buy Bitcoin Gold, if you are planning to buy BTG – You’re in the right place!

Bitcoin Gold is basically Bitcoin’s fork happening in 2017. The platform changed the PoW algorithm (turning to Equihash from previously SHA256) in order to democratize the mining process. Bitcoin’s fork is a pretty normal and logical process in cryptocurrency environment. There are many reasons why a fork may happen, such as developers’ differences, goals and purposes change, or code improvements. In Bitcoin Gold’s case, the purpose is to ‘bring back decentralized system’. The idea seems odd considering that Bitcoin – along with all of its forks – are all decentralized system.

The platform may come in the form of decentralized network, but in real practice, the mining process has been dominated by big powers only. Whereas the original Bitcoin uses ASIC mining to deliver profit to the users, Bitcoin Gold is using GPU mining. ASIC has been dominated by those with big resources – and not all of the users have such a privilege. With GPU mining, on the other hand, everyone can enjoy the same share and profit. So, if you are interested in fair and square mining outcome without the need to dominate or to control, then Bitcoin Gold would be the perfect platform for you.

Bitcoin Gold (BTG) Features

  • GPU Mining. There are several ways to mine, and the most popular one is ASICs. However, ASICs often leads to monopoly of big players, while GPUs enable everyone to mine and share fair result. Through GPU Mining, mass welfare can be achieved, which will also result in positive impact of the network.
  • Secured platform. One of the biggest threats about cryptocurrency platform is the threat of hacking and attacks. That’s why Bitcoin Gold has added extra protection and security for the platform. One of them is to create unique and one-of-a-kind wallet to protect BTG.
  • Improved transparency. The platform runs on an open-source mechanism. Projects’ source code is available for free – and this is the part that attracts most investors and users.

Where to Buy, Sell and Trade Bitcoin Gold aka BTG

You can basically use debit card, credit card, or even PayPal to buy the Bitcoin Gold (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Bitcoin Gold as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Bitcoin Gold. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum or Bitcoin
  2. Find a crypto exchange that supports Bitcoin Gold currency and exchange your Ethereum or Bitcoin with the Bitcoin Gold
  3. Store your Bitcoin Gold to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying Bitcoin Gold, once you get your Bitcoin or Ethereum, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH with Bitcoin Gold:

BINANCE
binanceBinance is probably the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now.

  • Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
  • Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
  • Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 160+ more
  • Trading Pairs: 603+
CHANGELLY
changellyThis cryptocurrency exchange is located in the Czech Republic. They are the same team responsible for MinerGate, one of the most reputed groups of people in the market. The exchange is popular for allowing US-based investors and for offering to cover the network fees of any user.

  • Deposit Methods: Cryptocurrency, Credit card, Debit card, Wire transfer, bank Transfers
  • Fiat Currencies: USD, EUR, GBP
  • Supported Cryptocurrencies: BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE & 100+ more
  • Trading Pairs: N/A
GATE.io
gate.ioGate.io is a popular exchange service in his native base of operation in Hong Kong. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 117+ more
  • Trading Pairs: 403+

IMPORTANT! Once you are registered to any of the above, find the BTC/BTG or ETH/BTG trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your Bitcoin Gold (BTG) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy Bitcoin Gold (BTG) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Bitcoin Gold. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Bitcoin Gold (BTG) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy Bitcoin Gold (BTG) with Skrill?

You can’t buy BTG directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Bitcoin Gold. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy Bitcoin Gold (BTG) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/BTG and begin the transactions.

Can I Buy Bitcoin Gold (BTG) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/BTG trading pair.

What Is the Best Payment Method to Buy Bitcoin Gold (BTG)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the Bitcoin Gold right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Bitcoin Gold (BTG)?

Once you have purchased the Bitcoin Gold, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

ledger nano x

Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

How to Sell Bitcoin Gold (BTG)?

Find a crypto exchange which allow pairing BTG with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine Bitcoin Gold (BTG) and Not Buying It?

Yes, you can.

Conclusion

Bitcoin Gold is about promoting better, safer, and more even mining mechanism where everyone can enjoy the benefits without too much gaps of profit among them. Whether you are an individual miner with limited resources or you use sophisticated resources for your mining practice, you will get the same share of profit. However, you need to buy Bitcoin Gold (BTG) first to get into the platform because that’s the only way you can join

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