Bitcoin Gold (BTG) is a hard fork of the leading cryptocurrency Bitcoin, dating back to 2017. Hard forks carry many features of the previous network but offer investors a different user experience with a few changes. The biggest change BTG made in this regard was to replace Bitcoin’s Proof-of-Work method with the EquiHash consensus model. This method, used by cryptocurrencies like Zcash, Hush, and Ethereum, has the significant advantage of enabling mining directly through graphics cards (GPUs).
Bitcoin mining was initially possible with graphics cards, but increased competition led to the emergence of devices known as ASICs. After ASIC devices, the era of home mining nearly ended. Bitcoin Gold, with its changes, effectively blocked the direct use of ASIC devices. It is known that this was the main goal of the hard fork.
What is Bitcoin Gold (BTG)?
BTG Coin, in other aspects, closely resembles the leading cryptocurrency Bitcoin. Only 21 million BTG Coins will be issued, but unlike Bitcoin, it has “pre-mined” funds. 1% of the 21 million BTG Coins has been pre-mined, and it is known to belong to the founders. This revelation significantly reduced the trust in Bitcoin Gold (BTG).
Where to Buy Bitcoin Gold?
How and where to buy Bitcoin Gold (BTG)? As you might expect, it is possible to purchase it through Binance.
- To buy BTG, first deposit USD balance into the exchange or buy a cryptocurrency that can be used instead. For this, first go to the Binance homepage, click on the “Buy Crypto” option in the top left, and then the “Credit/Bank Card” tab.
- In the opened tab, choose how much USD you want to transact, and then select Bitcoin, i.e., BTC, from the Coin section.
- After buying BTC, preview the “Buy-Sell” option in the top left and click on the “Classic” tab.
- In the opened section, select the BTC tab in the top right, type BTG Coin in the search button, and select the BTG/BTC pair that opens below.
- Then, go to the “BUY BTG” tab in the middle, enter the amount you want to buy.
- Enter the amount you want and confirm the transaction to complete the BTG purchase.
