The Easiest Way to Buy Bitcoin Gold te 2018
Bitcoin has experienced two “hard forks” this year, providing birth to Bitcoin Contant (BCH) te August and Bitcoin Gold (BTG) ter October. BTG is less known since it hasn’t gone live on many exchanges, but thesis platforms are setting everything up to have bitcoin gold very soon, so this is excellent chance to invest early ter a potential cryptocurrency. Since its creation, bitcoin’s value has enhanced more than Two million times… yes, Two,592,000 times! It is crucial to get early te the market when the price hasn’t still surged, so keep an eye on bitcoin gold.
Quick Step-by-Step to Buy Bitcoin Metselspecie
- Go straight to CryptoGo
- Come in your name, email address and voeling number
- Determine how many BCH coins you want to buy
- Choose payment method, Bankgebouw transfer or credit card
- BCH coins then sent to your Bitcoin Metselspecie wallet
To buy all the other major cryptocurrencies, instead, here are the best two platforms to do it!
What is Bitcoin Gold?
When a hard fork occurs ter a cryptocurrency blockchain, rules are switched and a fresh coin is born. Bitcoin Gold is the result of this split te the original bitcoin’s blockchain, its logic permits miners to create the blocks with a fresh proof-of-work algorithm.
The entire idea behind Bitcoin Gold is basically an effort to make mining decentralized again. This is, permitting more people to mine BTG with less powerful equipment.
If you’re familiar with bitcoin, you may know that mining is not spil profitable spil before, nowadays it’s more expensive and competitive (it is hard to rival with thousands of computers connected te Chinese bitcoin farms after all).
Bitcoin Gold switches the cryptographic hash algorithm from SHA256 to Equihash, making all bitcoin ASICs “mining rigs” obsolete for BTG blockchain and opening a fresh chance for fresh people to participate te mining without having to make big investments.
What’s the difference inbetween Buying Bitcoin and Bitcoin Gold?
Even however BTG is the result of the bitcoin’s blockchain split, BTC and BTG are totally different coins ter the cryptocurrency space, and they shouldn’t be confused. All the logic that runs behind BTG infrastructure is different from BTC, spil stated before, the cryptographic problem that the miners are set to resolve via the mining process is based on the Equihash proof-of-work system. The main differences are summed up te the following table:
Is it better to invest te Bitcoin Gold than other altcoins?
Bitcoin Gold launch wasn’t spil slick spil planned, BTG network received —and eventually survived— a massive attack te an apparent effort to disrupt the “MainNet” launch, but the Bitcoin Gold team figured it out to get the network up and running… albeit a little straks than planned.
Spil of November 12th, BTG Blockchain is live and running. So far, and according to the information on their webstek, Bitcoin Gold blockchain is working spil vanaf expectations and it’s bot stable. Three weeks ago, Bitcoin Gold wasgoed only available te one exchange, and now is listed on more than Ten exchanges, including HitBTC, Bitfinex, Binance, Gate.io, and YoBit. Other significant platforms are programma to add BTG within the next few days. Moreover, if you had BTC on your own wallet (you have your private key available) by the time of the hard fork, you’ll be able to voorkoop your Bitcoin Gold on a 1:1 poot. The hardware wallet Trezor, which is the thickest of its kleuter, will support that feature:
Bitcoin Gold has released their source code. Wij are presently working on developing support for TREZOR.
You will be able to split your BTG from BTC once our eis instrument is ready, assuming you held BTC on TREZOR before block 491407.
Everything is happening indeed rapid and the potential to invest ter BTG is likely better than many other altcoins out there, however you might expect a loterijlot of volatility during the very first stage of adoption, spil it’s bot happening with Bitcoin Contant.
Bitcoin Gold Price
You might want to check BTG’s current price ter the following widget from CoinMarketCap, a cryptocurrency database that calculates the price by taking the volume weighted average of all prices reported at each market.
Bitcoin Gold commenced its journey at $479.82, but it went down drastically after the launching issues, pulling down to $106 (its lowest price to date). Straks on, its price has bot a roller coaster, drawing a strong support line around 150 USD (which seems to be a good entry point to buy bitcoin gold). Bitcoin Gold ATH (All Time High) is US$539.72.
How to buy Bitcoin Gold – Step-by-Step Guide
With the stabilization and growth of the Bitcoin Gold blockchain, more exchanges and brokers are set to add BTG on their markets. There are not many alternatives to invest ter Bitcoin Gold ter the present time, but the more platforms listing the cryptocurrency, the more exposure it has, which might boost its value.
Buying bitcoin gold te a broker is very likely the easiest way to invest for both fledgling and accomplished traders. A broker usually has advanced devices to manage your operations and offers secure and well-regulated transactions. Most brokers opoffering cryptocurrency spil contracts for difference (CFDs), that is, an agreement inbetween yourself and the verhoging based on the price of the asset at the time that the contract is opened (order is executed) and the price when you determine to terminate it (order is closed). Ter a CFD, people invest te the price of an asset, rather
than buying the asset itself.
What is ThinkMarkets
ThinkMarkets is an online broker that offers a large list of financial instruments including forex, global indices, metals, commodities, and a broad selection of cryptocurrencies. It is a well-regulated toneel, authorized and regulated by the Financial Conduct Authority (FCA) of the UK. It is also registered with the Australian Securities and Investments Commision (ASIC). Client funds are secured and held te top-tier banks. It provides advanced devices such spil taut spreads (letting users operate securely even during volatility), 24-hour client service (across the trading week), and advanced platforms for trading.
Create and verify an account
The very first step to buy bitcoin gold using ThinkMarkets is creating a user. Spil a regulated broker, ThinkMarkets will ask you for individual information. Get began by visiting their webstek and clicking on “Create account” on the top right corner. Pack the form with your total name, email, password, phone number, and total address. You have to reaction a few questions about your financial status, your trading practice, and other details to customize your account:
Once your application is filed, ThinkMarkets will ask you to upload a digital copy of a government-issued ID (i.e., passport, driver’s license, non-driver’s ID). Ter addition, you need to upload a document that proves that your address is legitimate.
ThinkMarkets will receive your application and will react to it within the 1-2 business days.
Deposit funds to your account
If everything goes well, you’ll be set up to invest te bitcoin gold te a few hours. The next step is to fund your account so you can have access to the financial instruments available, including BTG, of course.
To fund your account, loom te to ThinkPortal and go to “Funding” ->, “Deposit funds“. You will be able to deposit funds via wire transfer, credit/debit card, PayPal, Neteller or Skrill. Choose your favourite payment method and go after the instructions to accomplish the process.
Buying bitcoin gold at ThinkMarkets
The trading platforms suggested by ThinkMarkets are indeed advanced, with many options to manage every detail of your investment and top-notch graphics devices. On the top of that, it offers two different platforms to trade: Trade Interceptor and MT4. Both are available for Desktop and Mobile devices, however, and for practical purposes, wij’ll use MT4 for our example, because this one includes a web trading toneelpodium.
Loom ter to MT4 Podium
To get commenced, loom te to your account by clicking on “Loom Te” and selecting MT4 WebTrader:
Use your credentials to connect to your account:
Invest ter bitcoin gold by trading with ThinkMarket’s MT4 WebTrader
Once you’re logged into your account, you’ll have access to the trading toneel. By default, you won’t see any cryptocurrency on the list of financial assets, so the very first step is to add bitcoin gold to the list:
- Click on “Symbols” button.
- Click on the “+” sign beside Crypto to display the utter list.
- Select Bitcoin Gold. It shows up differently depending on your base currency (e.g., BTCGOLDUSD, BTCGOLDEUR, BTCGOLDGBP). Click on “Voorstelling” to add this asset to the list:
It is always significant to make a basic Technical Analysis (TA) before placing an order. TAs are carried out by looking at the cryptocurrency graph to analyze the trend, volume, volatility, higher highs and lower lows, etc. The intention of this guide is not on TA, but please take a look at the graph of the currency pair before moving into an order:
Spil observed ter the graph above, BTG price has reached an ATH (All Time High) of 470.50 USD but fell into a bearish trend line afterwards, plunging below 150$. Nevertheless, the time for investing ter BTG might be closer spil the network stabilizes and the cryptocurrency gets notoriety. Te order to invest te bitcoin gold, investors should look for a good support line around the $100 neighbourhood and a trend line reversal.
Placing an order to buy bitcoin gold
The last step is placing an order to buy bitcoin gold. There are two types of orders:
- Market Order: when you place a market order, you’re buying the asset instantly, based on the price of the offerande within the marketplace. A market order is swifter for evident reasons, but it may not be the best option if you’re looking for a good entry point. If the cryptocurrency is on a rapid bullish trend due to some relevant news that incentives the market, then a market order (with a wise zekering loss/take profit configuration) is a good option to don’t miss the train. Take into account that, if the market has not enough liquidity to pack your order, the price can rise significantly.
- Limit Order: on the other palm, wij have the limit orders. Ter this type of orders, the trader sets the price te which he/she wants to buy the asset (lower than current price if buying, higher than current price if selling). This gives the chance for the trader to place orders based on price targets.
Ter this example, wij’ll use a limit order. To place an order, double-click on the BTCGold voorwerp at the end of the list, or click on “Fresh Order” while bitcoin gold is selected:
Specify your order details:
- Volume: the amount of BTG that you want to buy. For example, if you select Two.00, you would be buying two units of bitcoin gold, omschrijving to 308 USD.
- Zekering Loss: Here, you will set the ondergrens price of BTG where you won’t be able to afford further losses. Setting a taut zekering loss will be worthless ter the volatile environment of cryptocurrencies. A value inbetween -8% and -20% is conservative yet acceptable for a zekering loss. If you want to make a long-term investment, a zekering loss should be inbetween 30% and 50%, but be careful to place long positions te BTG, there’s a loterijlot ter stake with this coin and investors need to be cautious. Your position will be closed automatically if the price hits the zekering loss value.
- Take Profit: it is the counterpart to the zekering loss. Your position will be closed automatically – this time with profits – once the price reaches the take profit value.
- Type: switch inbetween market execution (market order) and pending order (limit order). If you select a pending order, there are Trio extra fields:
- Type: select from buy limit/sell limit (limit order for buying/take profit) buy zekering/sell zekering (only buy if the price reaches a target above current price / zekering loss).
- At price: specify the price of the limit order.
- Expiry (optional): expiration date of your order.
You will find an example of how to buy bitcoin gold through a limit order below:
The order above is set to buy Trio.00 BTG when its price drops to $139. The position will close automatically if the price plunges below $110 ( Ў-20.5% ) or if it rises above $390 ( ^+180% ). When you’re sure about your configuration, click on “Place“.
You’ll be able to manage your order and portfolio by clicking on the tabs at the bottom of the pagina:
Buy Bitcoin Gold using exchanges
Another method to buy bitcoin gold is by using the exchanges where it is available. The proces for investing te bitcoin gold by buying it via exchanges is not covered here, but here are some guidelines te case you’re taking this treatment:
- The most significant pair to trade BTG ter an exchange is BTC/BTG, so you’ll need to buy some BTC very first. Ter order to do it so, you can use CoinBase, Xapo or Bitstamp.
- Create an account ter one of the exchanges that have BTG listed. Spil for today, the top three exchanges by volume for bitcoin gold are HitBTC, Bitfinex, and Binance.
- Send your BTC (the ones you bought ter the very first step) to your bitcoin wallet ter one of the exchanges above (make sure to use your bitcoin public address to do it).
- Place an order to buy BTG using your available BTC.
Bitcoin Gold didn’t have the best beginning when it wasgoed launched on October, however, spil the network stabilizes and this cryptocurrency is adopted and supported by several online exchanges, wij will see if it has what it takes to advance further. Bitcoin metselspecie, for example, wasgoed able to have a price omschrijving to 0.Four bitcoin… bitcoin gold value needs to grow Five times to cost hardly 0.1 BTC.