Many people never seem to know the actual difference between Bitcoin (BTC) and Bitcoin Gold (BTG) – but don’t worry, I’ve found the perfect video to help us out with that. As the Bitcoin Gold market growth continues to attract more attention, understanding these distinctions becomes even more important. Take a look below:

https://youtu.be/h2GCokWPjQk

I hope you now have an idea of how they differ, and if you still don’t, I will clearly explain what BTG is, seeing as most of you already know what BTC is. In addition, I will share with you where Bitcoin Gold is trading, among a few other things.

So let’s not keep you waiting!

What is Bitcoin Gold (BTG)?

After Bitcoin Cash, Bitcoin Gold is the next cryptocurrency that stemmed from Bitcoin’s blockchain. Having taken place in 2017, the platform retained Bitcoin’s history, even though it operates completely separately.

This means that anyone who owned Bitcoin before BTG came into existence, was automatically given an equal amount of Bitcoin Gold.

This digital asset makes it possible for users to earn more from their trading cycles by introducing a new mining algorithm which is not prone to AISC-related optimization.

How to Trade Bitcoin Gold

You can trade this crypto in four easy steps:

• Set up a trading account on Avatrade
• Avail funds to your account
• Choose the amount you wish to invest
• Buy (Go Long) or Sell (Go Short) your Bitcoin Gold

Mining Bitcoin Gold

If you’ve heard of Bitcoin mining, then you’ve probably also heard about how profitable it can be.

However, what you might not know is how expensive Bitcoin mining can be. Most miners cannot afford to mine Bitcoin on their own. Therefore, they often pool their resources together to mine Bitcoin. The mining process requires facilities with hundreds of mining rigs and other heavy computing equipment.

If someone tries mining alone, they would spend enormous amounts of money, time, and energy. Many miners admit that the biggest cost comes from electricity usage. These systems consume more electricity than many manufacturing industries today.

This is why BTG changed the mining process. They altered the algorithm and banned ASIC chips from mining. This prevented large firms from dominating the sector due to their vast resources. Instead, Bitcoin Gold allows solo miners to participate using minimal resources.

Bitcoin Gold Exchanges

The survival of most coins is largely dependent on their performance on the various exchanges they get listed on.

Bitcoin Gold has been doing well ever since it first got listed and has seen a steady and positive trend in its price over time. Currently, the cryptocurrency is trading on over thirty exchanges across the world. Some of the major exchanges that trade BTG include Binance, Bittrex, and Bitfinex.

However, it is expected that other exchanges, such as BitFlyer and Coinbase, will be listing BTG soon enough.  In addition, you’ll also find it useful to know that Bitcoin Gold is supported by numerous wallets including the Ledger Wallet, Exodus Wallet, Trezor Wallet, BitPie, Coinomi, BTG Wallet, Cobo, Kasse, and Freewallet.

Where to Buy, Sell, and Trade Bitcoin Gold

After the 2017 fork, Bitcoin Gold is now available for trading.

Having been released to the public in late 2017, the coin has been well-received by the crypto community. As at the time of writing this article, the coin boasts of a market capitalization of about $1.5 billion, with a current supply capacity of 16, 805,449 $BTG.

Where to Trade BTG

Currently, BTG can be bought, sold, and traded on 27 exchanges namely:

Binance, HitBTC, Bithump, Bitfinex, Instant Bitex, UPbit, Exmo, Indodax, OKEx, Huobi, Koineks, P2pb2b, YoBit, Exrates, CEX.IO, Bitinka, Korbit, Gate.io, Dsx, CREX24, Kucoin, Trade Satoshi, Bitsane, SouthXchange, Bit-Z, Braziliex, and BigONE all list BTG.

As I mentioned earlier, more exchanges are expected to list BTG in the future. This is because the coin was launched less than a year ago.

Why You Need Bitcoin Gold

One of the major objectives for the team behind BTG is to create a fully decentralized version of Bitcoin. To achieve this, the developers had to make mining accessible to more people. They changed the Bitcoin mining algorithm, allowing the cryptocurrency to be mined using more graphics cards.

Bitcoin Gold also switched its proof-of-work from BTC’s SHA256 to Equihash. This memory-hard algorithm resists ASIC mining and is suitable for GPU mining.

The technology behind Bitcoin Gold is very similar to Bitcoin’s. This means its core functionality follows Satoshi’s original vision for the cryptocurrency.

As you may have noticed, BTG has achieved a lot in a short time. It has reached high trading volumes and decent market capitalization. Many older cryptocurrencies have not reached these levels, even after nearly a decade. This suggests BTG could be a strong investment choice in the near future.

Bitcoin Gold’s Competition

If you’re going to trade Bitcoin Gold, it’s essential to discuss its current challenges. Despite the promising Bitcoin Gold market growth, BTG’s price and market performance can be affected by many factors. These include news, development, and updates from competitors.

Bitcoin Gold’s closest competition comes from:

Bitcoin:This is the first cryptocurrency to be established and as you already know, played a big role in the development of BTG. Currently, it commands a market share of more than 50% making it the largest crypto in terms of market capitalization. However, since BTG is one of BTC’s forks, it might find itself in a hard place when trying to build its own reputation separately from its parent.

Ethereum: Ethereum is the second largest cryptocurrency after Bitcoin, and commands another huge market in the digital currency space. Being an anti-ASIC coin, it is expected that this might perhaps be the closest rival of BTG, since they both offer almost the same thing to their users.

Bitcoin Cash: Just like Bitcoin Gold, this coin has close ties with Bitcoin. It was the first coin to be forked from Bitcoin, and came before the development of BTG. Its main goal is to solve the scalability problem that seems to behoove Bitcoin, as well as to provide cheaper and faster transactions for users.

The Future of Bitcoin Gold

In the first quarter of 2018, Bitcoin Gold fully rebranded its coin. It launched a refreshed, user-friendly website and integrated several open-source libraries such as CoPay, BitcoinJS, and BitcoinJ. These changes will be rolled out in phases to ensure a smooth transition.

In the second quarter, Bitcoin Gold secured a partnership with a lightning network. This helped increase decentralization through mining using P2Pool. During this time, the platform also launched various payment methods, including BTG Pay and debit and credit card options.

During the second and third quarters, BTG began adding cross-chain atomic swaps and side chains. The platform also supported developers by providing funding opportunities at conferences and meetups. This aligns with BTG’s commitment to its community and social responsibilities.

In the fourth quarter, the team plans to introduce RSK side chains with smart contracts. They will also roll out cross-chain atomic swaps, allowing users to exchange different coins without third-party platforms. Additionally, BTG is expected to incorporate Schnorr signatures, enabling users to reuse signatures across many transactions instead of signing each one manually.

According to Bitcoin Gold, the Bitcoin Gold market growth shows no signs of slowing down. There is still more to come as we approach 2019.

In Conclusion

It’s crystal clear that the team behind the Bitcoin Gold coin is fully aware of its close ties to the most popular cryptocurrency in the world; Bitcoin, and thus, comes the pressure to maintain high standards of operations. The recent Bitcoin Gold market growth highlights the increasing demand and interest, which has brought about the need to establish programs that will focus on bringing value to the cryptocurrency users, not only BTG as a company.

Despite any controversies regarding the coin, many Bitcoin Gold exchanges remain confident that the coin might, after all, live to outperform some of the biggest names in the industry. And as much as they still haven’t achieved everything they initially set out to, it is still encouraging to see so much having been done in such a short period of time.