What is Bitcoin Gold
Bitcoin Gold (BTG) is the second fork from Bitcoin (i.e. the second version to stem from Bitcoin’s source code) after Bitcoin Cash. The Bitcoin Gold fork occurred on 24th of October 2017, at block height 491,407. It does retain Bitcoin’s transaction history, meaning if you owned Bitcoins before the fork, you now own the equal amount of Bitcoin Gold. This cryptocurrency aims to introduce an alternative mining algorithm that is less susceptible to ASIC-based optimisation, therefore allowing users to earn more with their computer cycles.
How to Trade Bitcoin Gold CFDs in 4 Easy Steps
- Open a trading account with AvaTrade
- Fund your account
- Fill in your preferred investment amount
- BUY (go long) or SELL (go short) Bitcoin Gold
AvaTrade is an industry-leading broker with some of the best trading conditions available, including the lowest crypto spreads on the market.
Why Trade Crypto CFDs With AvaTrade?
- Uncompromised Safety – With six regulatory authorities and segregated accounts, your money is protected at all times.
- Many Cryptos to Choose From – Trade on the wide variety of cryptos available on our trading platforms.
- No Hidden Fees – We offer zero commissions and no bank fees on transactions!
- Crypto Never Goes to Sleep – AvaTrade is one of the few brokers offer around-the-clock service and support in 14 languages.
- Generous Leverage – Increase your initial capital with generous leverage and get far more exposure to trade than your account balance. Up to 2:1 (for EU residents) 25:1 (for non-EU residents).
- Limit Your Risk – You can preset profit and loss levels by using stop losses or take profit limits when you trade. Determine the maximum amount you are prepared to risk when speculating on the price, or set a price at which you want to take profits. Future orders like Buy Stops and Buy Limits are also available.
- Trade Cryptos Against Fiat Currencies – Unlike many exchanges out there, who are restricting their clients to trade only Crypto to Crypto, our clients can trade Cryptos against Fiat currencies (USD, EUR, JPY etc.), as well.
Bitcoin Gold in the markets
Yet another Bitcoin offspring that did not have a very promising start; Immediately after its launch in late October, it’s website had to force a shutdown after a DDOS attack. Obligating the Bitcoin Gold price to decline substantially. According to finance leaders CoinMarketCap, Bitcoin Gold started trading at $479 at 20:00 UTC by 16:11 UTC plummeted to $274.44.
Besides their website being offline, another reason for the devastating decline was predominantly by fault of the lack of support from the Bitcoin community.
It is an extremely volatile asset and continues to dance among the bulls and the bears:
5 Facts you should know about Bitcoin Gold
- This BTG coin was created by Jack Liao, founder of Lightning ASIC (a computer mining firm in Hong Kong). Liao made the project public in July 2017.
- Equihash is Bitcoin Gold’s new protocol. Bitcoin uses Secure Hash Algorythm (SHA-256 bit). BTG will be replaced by PoW algorithm, Equihash, which some say is superior, with vast memory and even faster execution.
- To ensure the safety of the Bitcoin ecosystem, BTG implements unique cryptocurrency wallet addresses and replay protection system – double the protection from hackers and malicious threats.
- Full transparency through a free open source software project. This project is built by volunteer developers and avid Bitcoin enthusiasts worldwide.
- As Bitcoin Gold uses decentralised mining it gives ordinary users a fair opportunity to mine with ubiquitous GPUs (Graphic Processing Units).
We are Here to Help You Trade Bitcoin Gold
AvaTrade offers you the opportunity to BUY (go long) or SELL (go short) on all Bitcoin Gold trades, so you can use your preferred trading strategies regardless of which way the currency is moving.
We encourage you to learn more about Bitcoin Gold trading by visiting our trading conditions & charges page.
Please note: The cryptocurrencies market’s high volatility offers endless trading opportunities.
Don’t miss your opportunity to trade Bitcoin Gold. Start Trading Now!