Bitcoin Gold is the latest divergence of the first-ever cryptocurrency, Bitcoin. Basically, its a fork of the Bitcoin blockchain.
Unlike similar aspirations, BTG is not another platform derived from the original BTCs source code. Its another version of BTC and users who previously had BTC now have equal value in BTG (1 BTC=1 BTG).
BTG is trying to make mining for coins more democratic and decentralized. Once certain users realized they can crank up their ASIC mining hardware to their benefit, mining became a more centralized and specialized industry reserved for a few. BTG is fighting that through:
Ready to head to the gold mines? Lets get you set up with some BTG.
The first step is simple: buy some Bitcoin or Ethereum. You can purchase the coins fromCoinbase, but if thats not working out, try outCoinmama the steps are carbon copies of each other. Skip to step 2 if you already have some BTC or ETH stored in your wallet.
We will need to use a cryptocurrency marketplace to buy all other coins using our BTC or ETH. We will be going throughBinancetoday, but you can get BTG at other marketplaces as well. Set up an account and then continue to step 3.
You will want to pay close attention here. It seems difficult, but all were doing is transferring our BTC or ETH from our Coinbase wallet to our Binance wallet. Here are the steps to follow:
Easy peasy. Below are some screenshots describing the process using ETH for reference if youre still having troubles:
Once youve moved your BTC or ETH to your Binance wallet, you need to search for the Markets tab and then for the BTC/BTG or ETH/BTG market. Here, you can designate your price per coin, select the number of coins you want to buy, and then finally hit buy!
Easy, right? If youre still confused, below is a screenshot outlining the components of the page:
You just hit the gold mine with this purchase, congrats! You can let your Bitcoin Gold sit in your wallet or you can return to the marketplace the choice is yours.
Nope! If you have any questions about the tutorial, wed love to answer them for you. Send them our way in the chat window to your right.