What is Bitcoin Gold (BTG)?

Bitcoin Gold was created from an experimental hard fork of Bitcoin in late 2017. If you don’t know what crypto forks are, we’ve got an elaborate answer to that

Shortly, a fork is a crucial update in a currency’s code, and it can happen two ways: 1) if everyone has to follow the new rules right away, it’s called a hard fork; 2) if people can opt to stay in the old game, it’s a soft fork. All recent updates of Bitcoin (like Bitcoin Cash and others) were hard forks: they did not update the original coin but created a new one. 

In the case of BTG, the goal was to make mining accessible and profitable for ordinary users again. It introduced a new proof-of-work mechanism called Equihash that gives you the ability to choose the volume of the mining block yourself. It also blocks mining from ASICs and encourages GPU mining. Thus the developers gave an upper hand to regular people in the fight against huge mining farms that became so prominent with Bitcoin.

How to Buy Bitcoin Gold?

If you’re wondering where to buy Bitcoin Gold or how to buy Bitcoin Gold in USA, here’s a quick guide for Freewallet (we highly recommend it 😀):

  • Download our multi-coin app (available for iOS & Android) or use our web wallet if you prefer desktop (when doing that, please make sure to choose MoonPay as the payment provider);
  • Press the “Buy with a card” button. Our fee and the volume of your purchase will be will be displayed on the right; 
  • Confirm the details and check your inbox to validate your purchase order.

If you don’t want to purchase Bitcoin Gold with your credit card, you can always buy other cryptocurrencies and then exchange them for BTG within Freewallet. 

Now you can manage your assets wherever you are thanks to the web service and mobile app and enjoy your highly personalized dashboard!

Once you have BTG in your wallet, there’s a ton of opportunities open to you – exchanging it for other cryptos, buying more or selling your current stock. Let’s find out all about it.

How to Make a Bitcoin Gold Exchange?

You can exchange Bitcoin Gold for Bitcoin and any other cryptocurrency!

On Freewallet, you can exchange Bitcoin Gold for Doge, Monero, Ethereum, Digibyte and many other coins – 31 in general (full list also including ERC20, EOS & TRX tokens). Or vice versa: if you check out our #coinratesunday on Twitter and see that Bitcoin Gold is booming, you can stock up on some BTG right away – the exchange will take less than a minute.

  • Download our multi-coin app (iOS / Android) or access the web version;
  • Go to your dashboard;
  • Click the “Exchange” button and choose an exchange pair. Add the details about the amount of crypto you want to exchange; 
  • Confirm your transaction; 
  • Confirm the details and click on the confirmation link in your mail inbox.

Note that all exchanges on Freewallet are free of fees. We provide this service in order to make cryptocurrency available for a wider audience.

How to Sell Bitcoin Gold

In order to cash out Bitcoin Gold, you can use our wide range of gift cards – more than 300 units from hundreds of online stores (e.g. Netflix and Amazon)

For mobile users:

  • Click the “History” tab; 
  • Choose your country and credit card;
  • Accept the terms & conditions (but read through them first, it’s crucial!);
  • Check your mail to confirm your purchase.

For desktop users:

  • Click the “Buy with card”;
  • Choose your country and credit card;
  • Accept the terms & conditions (but read through them first, it’s crucial!);
  • Check your mail to confirm your purchase.

When searching for a gift card, you can filter out only the ones available in your country or set the price from $1 to $1000.

Freewallet offers a wide range of use cases for BTG and other coins, which, as you may know, is hard to come across in the world of crypto. This way your crypto turns from a strictly investing asset into an asset you can make daily purchases with, like regular old fiat currency.

Note that we do not give direct financial advice; Freewallet only provides you with general information to help you make up your mind. 

Is Bitcoin Gold a Good Investment?

When it comes to Bitcoin Gold, people have vastly different opinions.

Some people point to the fact that BTG successfully withstood the pandemic and has a considerably large market capitalization. Their idea is that due to Bitcoin Gold’s solid fundamentals and its gradual inclusion in more applications it will rise steadily with time, benefiting from the broadening of the general cryptocurrency system.

Others are much more pessimistic. The opponents of Bitcoin Gold say that the second fork of Bitcoin was obsolete: Bitcoin Cash increased the block size from 1 MB to 8 MB, allowing for 60 transactions a second to be made instead of five and bringing an actual change to the crypto game, while Gold is more of a market gimmick. 

While deciding whether to shop for BTG or not, you should consider that it has been in a overall bearish trend for the past nine months: it rose to $84 on August 30, then dropped to $67 on November 8, then to $43 on March 21 (and those are the high points).

Conclusion

We told you everything you need to know to buy Bitcoin Gold on Freewallet – whether to actually do it is up to you. We’ll gladly store your BTG if you opt to purchase them!

Freewallet gives access to an all-in-one platform for those who want to send, receive, store their crypto assets – and to use them for everyday purchases, as we will see later. 

Our services have vast resources for all those who start their way in crypto:

– More than 20 single-currency mobile-first apps
– Knowledge base
– 140+ digital coins and tokens on the list
– Buy and exchange crypto services
– Buy gift card options
– Phone top-up feature
– Helpful tools for protecting the security of your funds, including 2FA, multisig email confirmation, a mandatory PIN code, dedicated cold storage.


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