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Bitcoin Gold 2020 - buy cryptocurrency BTG & mining tested!

Bitcoin Gold 2020 - that's why there is the new Bitcoin variant. Bitcoin and Bitcoin Gold in comparison. An overview of the criticism. Inform now.

Bitcoin is the world's first cryptocurrency (2009) and now exists in three variants. In August and October 2017 there will be a Bitcoin hard fork. Bitcoin Cash is only created, the next spin-off is called Bitcoin Gold. While Bitcoin Cash aims to improve Bitcoin scalability, Bitcoin Gold (BTG) wants to democratize the currency and eliminate dependency on expensive hardware. This is intended to make the mining of BTG Coins increasingly possible for private miners.

The expensive hardware required for profitable Bitcoin mining can only be afforded by large server farms. BTC's new concept is geared towards GPU mining or graphics card-friendly. What are the alternatives apart from mining? Where can the digital currency BTG be bought? How does Bitcoin Gold Mining work and what are the benefits of BTG trading? Some answers are given in this regard.

  • After Bitcoin hard fork in 01/2020, third Bitcoin variant
  • concept is based on Bitcoin & is geared towards GPU mining
  • Buy, mine or trade Bitcoin Gold

Table of contents

  • Why is Bitcoin Gold (BTG) another bitcoin variant needed?
  • Response to Bitcoin Problems
  • Bitcoin & Bitcoin Gold: Similarities and Differences
  • Critique and Development of the New Bitcoin Variant
  • What is Bitcoin Gold? - 5 facts in summary
  • Earn BTG with Bitcoin Gold Mining
  • How best to mine BTG?
  • Mining Pool or Cloud Mining
  • Bitcoin Buying gold: How does it work?
  • Where can I buy Bitcoin gold?
  • Buy Bitcoin gold via Bitcoin
  • Trade BTG with brokers or crypto exchanges
  • How are Bitcoin Gold CFDs traded
  • Why Bitcoin Gold trades with a broker:
  • Questions and answers on BTG
  • Conclusion on Bitcoin Gold: trading more on exchanges than with a broker

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Why is Bitcoin Gold (BTG) another Bitcoin variant needed?

2017 two so-called Bitcoin hard fork will result in three variants of Bitcoin being present on the cryptocurrency market in the future. The market leading internet currency has problems. New Bitcoin variants should provide a remedy. The spin-offs from the "classic" Bitcoin are Bitcoin Cash (August 2017) and Bitcoin Gold (October 2019). There is diversity of opinion and strong competition (power struggle) in the Bitcoin community, so that there may be further secession.

The special feature of the two new coins is that they continue to run on a separate blockchain. Bitcoin Cash deals with the Bitcoin scalability problem and an improvement. Bitcoin Gold (BTG) was founded because the creation of Bitcoin was no longer worthwhile for private users without additional expensive hardware and concentrated on large mining farms.

The Bitcoin Gold Mining should meet the community’s original private mining needs more closely. The concept of Bitcoin Gold is characterized by a higher graphics card friendliness.

Bitcoin Gold 2020 - buy cryptocurrency BTG & mining tested!

Response to problems of Bitcoin

Bitcoin has some problems, whose elimination for the further expansion is necessary on the market. The biggest problem with the most important digital currency is that the ever-expanding database ensures a longer duration of transactions in the Bitcoin network. The blockchain is consuming more and more computing power.

In addition, creating new bitcoins has moved away from ordinary private Bitcoin fans towards professional miners. Profitable mining only takes place with very powerful, expensive computer networks, so-called ASICs. Earning new bitcoins is more or less limited to professional bitcoin miners.

Most of the major mining companies are based in China. As a result, the power to create new Bitcoin is concentrated in a few hands. This development contradicts the original philosophy of bitcoin to be a largely decentralized digital currency.

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Bitcoin Gold: BTG Price in 2020 | AIBC Summit

Bitcoin & Bitcoin Gold: Similarities and differences

The founders of BTG want to bring Bitcoin closer to its origins again. They installed a new blockchain and switched to the Equihash algorithm for mining. The advantage of Equihash, a proof-of-work algorithm, is that mining is only possible via the central processing unit (CPU) or graphics card (GPU) of a computer. Upgrading hash power with ASICs makes no sense, because nothing changes in the speed of mining. This is the case with Bitcoin mining. A miner can be connected to a computer to increase the hash power, which does not affect the memory capacity of the CPU or the performance of the graphics card.

Similarities Bitcoin Gold and Bitcoin:

  • Block time of 10 minutes
  • Token total number 21 million
  • Block size 1MB
  • Use of the PoW algorithm
  • Software is open source

Differences between Bitcoin Gold and Bitcoin:

  • Equihash is PoW algorithm
  • Mining only via CPU / GPU
  • adjustment from Degree of difficulty after each block

Bitcoin Gold 2020 - buy cryptocurrency BTG & mining tested!

Criticism and development of the new Bitcoin variant

There was criticism of the new Bitcoin variant even before the actual start, When it was introduced, it was not known which wallet supports the new token. In the meantime, the Bitcoin Gold Wallet problem no longer exists. Suitable Bitcoin Gold Wallets include Question:

  • Ledger Nano S (hardware wallet)
  • Coinomi (Android and iOS Wallet)
  • Exodus (software wallet for Windows, Mac and Linux)
  • Bitcoin Gold Core (software wallet for Windows and Linux)

It was not well received in the community that developers secured the right to premining. This excluded miners from Bloch creation. In the past, high premining was sometimes associated with fraud. Many asked themselves whether the spin-off was not purely for money. After all, the development team claims one percent of all new BTG coins. The lack of replay protection, which prevents duplicate transactions, was another criticism. At the time of the spin-off, it offered hackers unnecessary opportunities to attack, but it is now established. Despite all initial criticism, the impact on the price of the BTG token was initially rather positive.

The price of Bitcoin Gold reached up to US $ 475 in December 2017 in connection with the general Bitcoin hype -Dollars per token. Since then, the cryptocurrency exchange rate has been going downhill. After the token's price leveled off at $ 40 for a few months, a token will cost around $ 15 in August 2019. On the crypto portal Coinmarketcap, BTG is currently ranked 30th among the top 100 cryptocurrencies (as of August 14, 2019).

In view of the constant price reductions, the question of the future prospects of the Bitcoin spin-off arises. For crypto exchanges, the introduction of a cryptocurrency is definitely a good deal. It is generally known that they can be paid to list tokens.

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What is Bitcoin Gold ? - 5 facts in the summary

  • The actual foundation of the BTG coin begins in July 2017 by Jack Liao and his team. Liao itself is the owner of Lightning ASIC, a mining company based in Hong Kong.
  • The new blockchain protocol is being created by Equihash. The Bitcoin blockchain is based on a Secure Hash Algorithm (SHA-256 bit). The PoW algorithm Equihash combines qualities such as enormous storage and faster execution.
  • The security of the Bitcoin ecosystem against hackers and malware is guaranteed by a special Bitcoin Gold Wallet and a replay protection system.
  • The BTG is an open source software project in which volunteer developers and other Bitcoin enthusiasts take part.
  • Decentralized mining is used to generate the tokens. This means that BTG mining is possible for any private miner with an ever-present powerful Nvidia CPU or Intel CPU.

Bitcoin Gold 2020 - buy cryptocurrency BTG & mining tested!

Earn BTG by Bitcoin Gold Mining

Bitcoin Gold is a split off of the original Bitcoin and enables GPU mining. Mining with specialized and expensive ASIC miners, such as those used in Bitcoin mining, will not exist in the future. With the appropriate hardware and software, miners can earn BTG and other Equihash crypto coins. Alternatively, you can also use cloud mining. This saves buying any mining hardware or finding a suitable place to mine.

How best to mine BTG?

Experts recommend for really profitable mining and earning money, purchase a multi-GPU rig and join a mining pool. New blocks can be quickly mined thanks to combined hash power, which brings a return in less time!

GPUs of the Nvidia GTX series, for example, are required for the mining start. There should be six GPUs per rig. A fast and stable internet connection is required, which ensures 24/7 access to the blockchain. The basic equipment also includes a corresponding Bitcoin Gold Wallet for storing the coins. Official wallets such as the Bitcoin Gold Core Wallet are recommended.

Note: Graphics cards consume a lot of power because a GPU requires between 110 and 210 watts. With multiple rigs, the power consumption increases accordingly. The heat and noise generated by Bitcoin Gold Mining is not without. Adequate cooling must be ensured. Who uses cloud mining saves electricity and cooling costs.

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Bitcoin Gold 2020 - buy cryptocurrency BTG & mining tested!

Mining Pool or Cloud Mining

A suitable mining software is part of the hardware. Suitable for BTG mining include EWBF Miner (Nvidia graphics cards compatible) or Claymore’s Zcash / BTG (AMD cards compatible). In the course of the software configuration, the wallet address and pool address must be entered. When choosing a BTG mining pool, pay attention to pool fees and the reward system. The more well-known pools include btg.2miners.com, btg.suprnova or btgpool.pro.

Tip: Cloud mining is ideal for those who don't want to invest money in their own hardware or who lack the space for the mining equipment. A mining contract with a suitable provider and a BTG-compatible wallet is sufficient to participate in cloud mining.

Buy Bitcoin Gold : How does that work?

Anyone who has already been involved in the purchase of cryptocurrencies and has purchased Bitcoin knows suitable crypto marketplaces and the necessary requirements. A so-called wallet is necessary for the BTG purchase. On a wallet, comparable to an electronic current account, BTG and other coins can be received, managed and sent for the purpose of exchange or payment.

There are various wallets for the desktop, for mobile devices as an HD wallet integrated private keys for higher security. These include the Bitcoin Gold Core, Ledger Nano S, Coinomi or Exodus already mentioned elsewhere. All are compatible with Exchanges and can be downloaded online. The Bitcoingold.org website provides an overview of the 20 wallets currently in question. Once the wallet is opened and set up, crypto fans can buy BTG. Buying BTG tokens offers a variety of exchanges. Coins are partially purchased directly for fiat currencies (EUR, USD) or exchanged for other coins. On the

Where can I buy Bitcoin Gold?

Buying and trading Bitcoin Gold has been possible on crypto exchanges worldwide since the end of 2017. The Bitcoingold.org website lists a total of 45 exchanges that offer live trading in addition to the normal buying and selling of crypto coins. BTG offers can be found in other online trading venues, however, the sales are very low or hardly available, whereby the BTG prices differ more or less from the average price.

If the purchase of BTG with fiat currencies such as euros or US To make dollars, the selection of providers is modest. On CEX.IO the exchange is easy for Euro. BTG are available in exchange for USD on Bitfinex, EXMO and HitBTC exchanges. Those users who have ether or tether bitcoins and exchange them for BTG have more options.

Basically, the trading venue charges an exchange fee, the amount of which varies depending on the exchange. Buying Bitcoin Gold is fairly easy to do on the available platforms. The procedure is the same as for the purchase of other cryptocurrencies and is as follows when exchanging fiat currencies in BTG:

  • Registration in the marketplace
  • Creation of a crypto wallet
  • Select BTG
  • Select payment method (Fiat currency)
  • Perform identity check
  • Enter wallet address
  • Complete purchase process

Some personal data such as name, email address and a telephone number are required for registration on the platform. The user will then receive an activation link and an automatically generated password sent to their email address.

Registration can be completed with one click. Then the user can log in. In order to buy and trade BTG, it is necessary to create the wallet. Suitable variants for the wallet and providers are listed on bitcoingold.org. For information on the current price and exchange rates, select BTG and specify the desired quantity.

The range of payment options depends on the respective Exchange operator. The purchase can be made via bank transfer or credit card or against other cryptocurrencies. In order for the purchase to be processed in euros or US dollars, the identity check must be carried out using a valid personal document (ID card, passport, driver's license. Once the check has been carried out, the customer receives all purchase and payment details. Should the acquired BTG not be used the Bitcoin Gold address must be entered and the new coins will then be sent to the respective electronic wallet.

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Buy Bitcoin Gold via Bitcoin

With some of the leading cryptocurrencies such as Bitcoin, Ether and XRP, BTG can be used on the Exchange platforms including Bitfinex, HitBTC, Binance, etc. are exchanged with each other.. The majority of crypto exchanges use BTC as the base currency for the investments.. A Bitcoin wallet is for the purchase of Bitcoin and shipping to the BTG exchange. Bitcoin can be bought, for example, on Coinbase, bitcoin.de and others by bank transfer or debit card.

For the transfer of Bitcoin, the first step is logging into the customer account at the exchange. Recipient information is provided on the deposit page. After opening the Bitcoin wallet, go to "Send Bitcoin" and enter the copied recipient address. One click further and the Bitcoin land the BTC on the Exchange account or in the Exchange Wallet.

If Bitcoin is to be exchanged for BTG, go to the markets for the trading pair BTC / BTG. Now define the number of BTCs to be exchanged and complete the order. The BTG tokens can now be used in the Exchange BTG Wallet. The tokens can be sent to the personal wallet.

BTG at a broker or crypto exchange

Buy Bitcoin Gold and sell Bitcoin Gold with the aim of making profits from trading Realizing other fiat or cryptocurrencies is possible on a variety of crypto marketplaces, including crypto exchanges such as Bitfinex and Binance. Trading with BTG is not supported by the leading US exchange Coinbase. The tokens can only be bought here.

BTG is not currently one of the top 20 cryptocurrencies. The close connection with the Bitcoin name has not led to a permanent Kursralley or significant market establishment. The BTG price ripples more or less. Since the currency falls into the "lower overall market value" category, there will be higher fluctuations in value than the top coins.

Note: Some users report online that they fingers burned when trading Altcoin with a low market value. They therefore prefer to trade coins from the top 20 (based on market capitalization). Fluctuations in the leading cryptocurrencies are not that big, making trading forecasts more predictable. In addition, bitcoin prices have a significant impact on the BTG market value. If Bitcoin's price goes up, buyer interest in BTG does not necessarily increase.

All of these are reasons why trading CFDs on BTG is currently only possible with a few suitable providers. This includes the broker AvaTrade, which is active in this country. The well-known trading platforms and crypto brokers Plus500, IQ Option and eToro offer crypto trading with Bitcoin and Bitcoin Cash, for example, but BTG is not one of the tradable assets.

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How are Bitcoin Gold CFDs traded

First, it is important to find a suitable crypto and CFD broker. According to our research, only the broker AvaTrade comes into question. All other leading crypto brokers can trade up to 24 alternative coin CFDs. In order to be able to conclude the first BTG trade with the broker, a relatively simple procedure has to be completed. These are the individual steps:

  • Open a trading account with the broker
  • Deposit account capital
  • Enter preferred trading amount
  • At BTC Gold, the order buy order or select sell order

The broker's account can be opened quickly and easily using the online form. Some documents have to be uploaded to verify identity. As a rule, a copy of the personal document and a copy of a current consumer invoice are sufficient for proof of address.

Payments can be made to crypto brokers in a variety of ways. In addition to the standard methods such as bank transfer and credit card, several online payment services such as Skrill, Neteller or PayPal are available. Three clicks are enough to execute the order. Trading crypto CFDs requires complicated crypto buying processes. Traders will find the best available trading conditions from the industry-leading brokers. You benefit from mature trading platforms and the smallest crypto spreads on the market.

Why Bitcoin Gold trades with the broker:

  • BTG CFD trading with leverage from to to 20: 1
  • Low minimum account deposits starting at € 100
  • CFDs are suitable for a broader positioning of your own trading portfolio
  • Trading cryptocurrencies around the clock on the MT4 platform
  • With BTG CFD short (sell) or long (buy)
  • customer services around the clock
  • Commission-free trading of BTC Gold
  • No broker fees Payment transactions
  • Serious CFD brokers are regulated & approved for Germany
  • BTG contract without risk of hacking and theft

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Questions and answers on BTG

How vulnerable is BTG to hacking?

The possibility of hacking is not ruled out Swiss cooperative. There would have to be a 51 percent attack. A few days after the BTG introduction, the website was exposed to a DDoS attack. A more extensive hashing attack on the blockchain occurred in May 2018. A loss of over $ 18 million occurred on several exchanges. In the meantime, there have been some improvements to improve security.

Can I buy BTG with my credit card or PayPal?

Yes, BTG can be bought at some exchanges using credit cards become. It is not possible to buy BTG directly from most trading venues. Users can purchase Bitcoin with PayPal and exchange BTC for BTG tokens. Some crypto brokers offer PayPal as one of several payment wallets for transactions.

Can BTG be kept in a Bitcoin wallet?

No, um To be able to save a BTG token, you need your own BTG wallet. The reason is that BTC and BTG have different hash functions. There are 20 tested wallet applications to choose from on bitcoingold.org.

What does a BTG token cost?

On the CoinMarketCap portal, the BTG token will be around 15 in August 2019 Offered US dollars. This is a far cry from the previous rates, which hit $ 495.

Is BTG the same as Bitcoin?

No, BTG is like Bitcoin Cash a spin-off from Bitcoin and works with a new blockchain. A proof-of-work model is used for both cryptocurrencies. Bitcoin is SHA-256 mining. The new equihash algorithm is used at BTG.

Conclusion on Bitcoin Gold: trading more on exchanges than at broker

The different opinions within the Bitcoin community have this led to the fact that two variants of the original Bitcoin were formed after a hard fork with Bitcoin Cash and Bitcoin Gold. With BTG, a principle that is sensible per se is pursued, which should ensure more decentralization of Bitcoin. However, BTG has not been able to place itself decisively on the market since it was founded in late 2017. The token price is also very low compared to Bitcoin and Bitcoin Cash.

Only in the beginning was the token able to book a value of several hundred euros. This may have been due to the fact that Bitcoin holders received free BTGs. It is questionable whether the BTG makes a buy recommendation. A high level of awareness and a strong name have so far not been enough to silence critics who criticize stability and security.

Crypto trading is growing in popularity, with CFD brokers in particular making it easy for their customers to make profits to generate. Crypto CFDs are considered an alternative to buying coins directly. Thanks to the use of levers, large volumes can be moved with a small amount of capital. The majority of crypto brokers do not currently offer BTG Trading. To date, BTG trading has been a domain of the crypto exchanges. However, a dealer must first get possession of the coin. If you have BTC or ETH, you can simply exchange them on the numerous exchanges with live trading in BTG.

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