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How to Buy Bitcoin Gold (BTG) in 3 Simple Steps

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By Ali Raza - Updated 20 April 2023
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Bitcoin Gold (BTG) is a cryptocurrency that was launched in 2017 from a Bitcoin hard fork. It was created as an attempt to reform the Bitcoin mining process and reduce centralisation by a handful of large-scale miners. The BTG network prohibits mining using specialized miners (ASICs) and favors smaller miners that use standard CPUs and GPUs. This prevents a few big players from dominating the market.

The mining change has helped Bitcoin Gold attract the attention of investors and maintain a position among the top 100 cryptocurrencies by market capitalisation. This guide explains everything you should know about buying Bitcoin Gold, meanwhile if you’re looking for the Bitcoin Gold price head here.

Table of Contents

Where to Buy Bitcoin Gold?

There are two options for people who wish to buy Bitcoin Gold. The first is to buy Bitcoin Gold and the other is to trade it. BTG is a highly volatile digital asset like any other cryptocurrency and its price fluctuations are what people seek in both cases.

Buying Bitcoin Gold is exactly as it sounds. People and firms pay for the digital currency and hold on to it, selling it off at a later date when the asset value has appreciated and pocket the difference. Buying is an easier process that doesn’t involve you knowing much about trading complexities but at the same time, it has its intricacies. 

Owning BTG means you will need to know how to store it in a crypto wallet, understanding the long string of characters that make up the private and public keys. This also carries a high risk of losing Bitcoin Gold as loss of private keys can lead to the inability to access the wallet at all.

For people who are not much aware of crypto and how these work, buying Bitcoin Gold can be a little too much to handle. For them, trading is an easier option. Trading cryptos like BTG is mostly on the same lines as any traditional trading and the familiar environment can help them. 

There is one major difference here though. You never buy or sell BTG on trading platforms, but use different contracts that use the price of the crypto. For example, Contract For Differences (CFD) allows you to enter an agreement with a broker where you buy the contract at a specific value that reflects the current price of BTG and later on sell or close the contract. The difference in Bitcoin Gold prices at the start and end are taken into account and the difference is settled, giving you profits if it has increased.

Even if you find trading a better alternative, it is always feasible to purchase Bitcoin Gold rather than trade for it if you are looking for a long term price discovery. Holding Bitcoin Gold will not cost you anything but hanging on to a contract, especially the ones like Futures, will cost you in terms of inability to sell out at your desired time and advanced features like leverages will accrue interest.

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How to Buy Bitcoin Gold with a Broker

There are many crypto brokers online today that provide Bitcoin Gold trading services and it is easy to find the right one for you. All you have to do is to look for their compliance with laws and regulations and check out user feedback.

Keep an eye out for the charges involved. Each broker will have a different fee structure and may not suit your trading style. Always look into the security level provided. Things like 2FA, SSL certificate for the website and multiple servers to protect against DDoS attacks.

1. Register with the Broker

Registering on a crypto broker is as easy as signing up on any typical website. There are variations in the initial requirements though. Pepperstone.com is a broker that has perhaps one of the easiest methods to register. All they require is you to enter your email address, which they will confirm by sending a verification mail. You can also instantly register using your Gmail or Facebook account. 

Some trading platforms like Forex.com require extensive information right from the start. They ask for country of residence, full name, date of birth, email address and contact number right from the start.

2. Verify your Identity (KYC Process)

Though cryptocurrencies were born out of the need for freedom from authorities, it is still preferable to use regulated brokers for your good. Any legally compliant trading platform will have KYC and/or AML checks to use. This may require you to upload specific information about you that can be used to verify that not only are you a legitimate person who is legally allowed to trade but at the same time allows the broker and authorities to keep a check on any money laundering or tax evasions.

Pepperstone requires its users to pass their KYC test before they can begin trading. Typically the platform will ask traders to go through a simple test to determine their readiness for buying and selling derivative products. Once cleared, the trader will need to confirm their ID, using two different government-issued documents.

Clearing KYC can be a bit time consuming, especially on trading platforms that are registered in jurisdictions that have mature and tough laws. This can be a mood changer understandably and you might end up deciding to switch your broker. We would advise you not to. Using a regulated broker gives you legal protection in case of any scams and frauds, while at the same time the compliance forces the broker to offer a higher degree of digital security and protection online.

3. Deposit Funds with your Preferred Payment Method

Trading is buying and selling—and for buying, you need money on the platform. Derivative BTG contracts such as CFD and Futures only take the price of Bitcoin Gold as input to drive the value of the agreements. As such, you will need to fund your verified and KYC cleared trading account with acceptable fiat currencies. A broker may accept different ways to do that. One of the most popular and common methods accepted is by using your credit cards. You will simply need to enter your card details such as the credit card number, expiration date and the CVV code along with how much you want to transfer over. A typical transaction takes around a few seconds to a couple of minutes.

Another common method is through a bank transfer. Though this might be a bit slower process as interbank and cross border money movement can take time (sometimes a few days), it is more secure than card-based transactions. Your bank might also require you to fill out a form or declare your reasons for the transfer.

If you are using any card or online banking to fund your account, keep your transactions as secure as possible. Make sure you are only using the legitimate website of the broker to enter data. Scammers often clone the interfaces and try to redirect users to the fake website to siphon off the funds. Keep your antivirus updated and run a complete scan before making a transaction. Another security layer you could use is to send over a small amount first and see if it is deposited and can you trade with it. Once sure that everything is in order, you can send over the remaining amount to properly trade.

4. Open a Position to Long/Short Bitcoin Gold

One of the benefits of trading Bitcoin Gold derivative financial instruments is that you can do both long and short trading.

A long position is taken when you believe that BTG is all set to break out and rise in value. Typically called bulls in this scenario, traders open positions and wait till the Bitcoin Gold price (and resultantly the contract’s value) has achieved their target.

On the other hand, if traders’ analysis shows that Bitcoin Gold is overbought and is ready to retract, they can always open a short position. Unlike simple exchanging and trading where the only option to make money is to buy low and sell high, derivatives can be shorted in a bearish run where a trader bets that the price will fall. If the prediction is right, the trader stands to make a profit even in a downward market.

Longs and shorts can be done with a variety of order types trading platforms may offer. Typically, there are three. Using a market order, a trader can open a position on what the going BTG price is at the moment. A limit order will allow the trader more control and define your asking Bitcoin Gold price and the contract amount along with, letting you open positions that fit within your trading strategy. Going a step further is a stop loss or take profit order, that gives a trader the option to select the market condition in which to open a Bitcoin Gold position.

Many brokers also give advanced order options such as trails that allow you to constantly adjust your position as long as the market is in your favour.

5. Close your Position

Cryptocurrencies are volatile assets and their prices fluctuate wildly. This means that a trader cannot be in front of a computer at all times to monitor trades. Stop losses and take profits are automated orders that can help any user. With well-defined targets, you can place a take profit order that will automatically place your order in the books and your position can be closed without you even logging in. In the same way, stop-loss order can be used to place a closing order on a value that you are willing to take a maximum loss on. If the market swings against your favour, the order can close your position and save you from potentially large losses.

Though stop losses and take profits are automated and beneficial, you never know when the Bitcoin Gold market will move in a way that you did not anticipate. An unfavourable move may require you to close your position earlier than anticipated or a positive move might see you holding on to the position much longer. In either case, you can simply cancel your open order and execute it manually.

How to Buy Bitcoin Gold with an Exchange

A long term plan for using BTG will be better if you go with an investment plan and not a trading one. Investing means you will need to buy Bitcoin Gold and hold on to it. If you are leaning towards learning how to buy Bitcoin Gold, this section is just right for you.

Similar to trading, you need to make a careful and well-studied decision on the crypto exchange you want to use to buy BTG. There are numerous crypto exchanges online today and you need to select one that is reputable, reliable and is regulated or legally compliant. Apart from these, have a closer look at the fee structure, including any charges on deposits or withdrawals.

1. Set up a Bitcoin Gold Wallet

Even though cryptocurrency exchanges offer built-in crypto wallets that come with your account, these are custodial in nature and it is always a better idea to have your personal one to move your BTG for safekeeping.

You can go about setting up your wallet easily and there are tons of these available. They can be more or less categorised in two ways:

  • Software Wallets: Programs and apps, these wallets exist on your devices such as computers and mobiles. They are easy to install and can be up and running in just a few minutes. Though offering extreme ease in use, they are nearly always hot wallets, meaning they are connected to the network and as such, can be hacked or accessed through stolen private keys and passwords.
  • Hardware Wallets: Hardware wallets are physical devices that store the coding to show you your bought Bitcoin Gold. The devices can be expensive, but the ability to disconnect from the BTG network makes them extremely secure and worth the investment if you’re intending to hold a large volume of Bitcoin Gold

2. Choose and Join an Exchange that sells Bitcoin Gold

Use our recommended list of exchanges at the start of the guide to select the cryptocurrency platform that best suits you. A few of the most popular in 2021 are CEX, Coinbase and Binance. The buying process for BTG is more or less the same on any of the exchanges. However, it is prudent to look at the features and offerings of each to help you decide which to register on. Like brokers, these regulated exchanges will also ask for your personal data to comply with KYC and AML laws they are subject to.

3. Choose Your Payment Method for Buying Bitcoin Gold

After registering and passing the KYC checks, you will need to fund your account of course. Check out the funding options your preferred exchange supports.

If your exchange supports fiat deposits, this will be most easy for you. Credit cards are the fastest of all, taking a maximum of a couple of minutes. Bank transfers are safer but may require more time.

If you already hold any crypto, it is prudent to check if it is supported by the exchange too, especially any BTG trading pair with your held cryptocurrency.

4. Place an Order to Buy BTG

If you have funded with fiat, check to see if BTG is listed against it on the exchange. A listing of a pair will allow you to directly buy Bitcoin Gold with it. In case it is not, see what cryptos can you buy with your funds. Match these against BTG crypto pairs. The most commonly available pairs are BTG/BTC and BTG/ETH, so you can buy Bitcoin or Ethereum and then use these to get your hands on Bitcoin Gold.

Once you select an exchange pair, you will be automatically diverted to the buying interface. Simply select the type of order you wish (market, limit, stop limit, trail), enter the relevant data (price, amount, limit) and press the Buy button. Your order will be placed in the books and when a match is found, it will be executed.

5. Safely Storing Your Bitcoin Gold in a Wallet

The bought BTG will be automatically placed in the exchange wallet where you can view it. If you intend to hold it for a short while and sell it off, there isn’t much else you should do. However, in a long term holding it is advised to move your Bitcoin Gold off the exchange and into your private wallet. Crypto exchanges are a hot spot for hackers and even if the exchange offers robust security, you should never take that chance. 

Should you Buy or Trade Bitcoin Gold?

The answer largely depends on your time strategy. If you want to hold for the short term or want to frequently buy and sell to skim profits repeatedly, perhaps you are better off trading through a broker.

If long term and very sporadic buying and selling is your method, you should go for a crypto exchange and buy BTG, holding on until you are happy with the increased price.

What’s the Difference Between a Bitcoin Gold Exchange and a Broker?

The final goal of using both, a broker or an exchange is the same for any user and that is to make profits by leveraging the BTG price fluctuations.

The only difference is that on an exchange, you buy and sell Bitcoin Gold, while a broker allows you to buy and sell agreements or contracts that derive their value from BTG price. A broker will not hand you over Bitcoin Gold if you open or close a position, but only fiat.

Since brokers are using derivatives, they can offer advanced and complex contracts, such as Futures and Options and even let you leverage trade to increase your potential profits. However, some contracts and advanced features carry interest and fees that can eat into your earnings. Since you buy BTG on an exchange, you can hold it for as long as you want without incurring any charges.

Bitcoin Gold: Long Vs Short Term Investment

You can choose either to go the long haul and wait months, even years for Bitcoin Gold to rise to a price you want, or you can rapidly buy and sell BTG to capture favourable price movements.

You will have done your calculations to determine the long term price prediction if you want to hold on to your coins. This gives an advantage that you can sell them whenever there is a large price movement or a moon.

Short term investment will give you lesser profits, but you can quickly cycle buying low and selling high to increase your BTG holdings over time.

What is the Best Payment Method for Buying Bitcoin Gold

  • Buy Bitcoin Gold with Cash: Many P2P platforms allow you to contact sellers and pay cash.
  • Buy Bitcoin Gold with Credit Card: Extremely easy to use. A transfer is done in minutes.
  • Buy Bitcoin Gold with Bank Transfer: Secure, but if money is moving across borders and different banks, this can take a bit of time.
  • Buy BTG with Bitcoin: As the King of crypto, nearly all major exchanges offer BTG/BTC pairs for instant buying.
  • Buy Bitcoin Gold with PayPal: Cheaper, but not available globally.

Other Ways to Buy Bitcoin Gold

There are other ways to get your hands on BTG if you are having trouble with registering or setting up a payment method.

Bitcoin Gold is a fork of the parent Bitcoin chain just like Bitcoin Cash is. BTG has changed its algorithm to be ASIC resistant and if you have a powerful computer, you can mine it yourself. If you find a block, you get to keep the rewards (6.25 BTG). You can increase your earnings by joining a mining pool, albeit at the cost of a lesser block reward as it is shared.

Don’t have a computer you can use to mine? You can always rent out computing power online and use cloud mining.

Now with knowledge on how to buy Bitcoin Gold, you can go to any exchange you prefer and buy BTG.

5 Things to Consider if you Want to Buy Bitcoin Gold BTG

There are a few factors you should take into consideration before you make your first Bitcoin Gold purchase. Being prepared will help you complete the transaction as safely and quickly as possible.

1. Carefully choose your preferred secure payment method

Most platforms typically accept multiple funding sources for completing a purchase. It’s important to note that the payment methods available to you will depend on your location. The cost and speed of payment systems are other variables to take into consideration before you hit the “Buy” button. Most Exchanges and brokers will accept credit and debit cards and even fiat currency if you’re looking to buy with fiat currency.

2. Will you need to set up your own wallet?

Setting up a cryptocurrency wallet will let you have 100% control over your assets and should be a priority if you plan on holding on to your Bitcoin Gold as a long-term investment. While brokers and cryptocurrency exchanges automatically create a wallet for you when you sign up, these web wallets tend to be more vulnerable to theft. 

The only exception to the wallet rule is if you are entering into a CFD agreement with a recommended broker. You don’t need a wallet to trade derivatives. 

3. Comparing costs

All blockchain networks have fees associated with transactions. It’s a good idea to compare the fees and costs of Bitcoin Gold transactions with other alternative cryptocurrency systems. The good news is that cryptocurrency transactions are generally much cheaper than traditional alternatives. This fact is a big reason why cryptocurrencies have been hailed as a solution for international remittance and foreign exchange.

Another factor to consider is timing. If you plan to buy you will need to consider what the Bitcoin Gold price is. Follow the trends carefully so you can make a purchase at the best time.

4. Safety and security 

Bitcoin Gold is theoretically as secure as Bitcoin because it was forked from Bitcoin’s codebase. The BTG network uses the same cryptographic algorithms to secure the blockchain and ensure data integrity. 

For additional safety and security, combine the inherent security of the BTG blockchain with the security features offered by brokers and exchanges. These include features such as two-factor authentication (2FA).

5. Can you understand and navigate the platform?

The final consideration is the ease of use. By virtue of its connection to Bitcoin, Bitcoin Gold is a relatively simple system to understand. In addition to understanding how cryptocurrency works, take time to familiarise yourself with your chosen exchange or broker platform. Figure out how to navigate the platform and initiate transactions before you commit to making your first purchase. Transactions on the BTG blockchain are immutable, so there are no refunds or chargebacks if you make a mistake.

What Fees are Involved in Buying Bitcoin Gold?

Buying Bitcoin Gold BTG will require paying fees. These fees include network fees charged by the blockchain, deposit and withdrawal fees charged by brokers or exchanges and transaction fees charged by various payment methods. Below are some of the fees you should take into consideration: 

  • Network fees: Every blockchain including Bitcoin Gold, charges fees to complete transactions. These fees are usually minimal and are paid out to miners. 
  • Transaction fees: Brokers and exchanges also charge transaction fees. The exact fee depends on what payment option you use. As previously mentioned, bank transfers typically have the smallest transaction fee, while credit card payments have the steepest.  
  • Deposit fees: Many exchanges and some brokers take a small percentage of the amount deposited as a deposit fee. Brokers typically avoid charging deposit fees to incentivise traders to sign up, so try to pick one that doesn’t have these fees.  
  • Withdrawal fees: Some platforms may also charge withdrawal fees when you want to cash out. While it’s not common, you should still check to make sure your chosen platform doesn’t charge a lot for withdrawals. 

Safely Storing Your Bitcoin Gold

Securely storing your BTG coins requires a wallet that’s designed to keep your digital assets safe from theft. Cryptocurrency wallets come in software or hardware forms. Below are some examples of the different types of wallets.

Web Wallet: Web wallets are the most common storage option because every cryptocurrency platform automatically creates one for new users. They’re convenient and easy to access from any web browser, but they have some inherent risks. For example, if a platform is hacked or goes out of business, you may end up losing your assets. 

Mobile Wallet: Mobile wallets are essentially smartphone apps that let you easily and securely access your coins. They are convenient since you are guaranteed to always have your phone on you. They are also secure thanks to features such as the screen unlock code and other built-in security protocols. Good examples of mobile wallets for Bitcoin Gold include Exodus, Coinomi and Atomic Wallet. 

Desktop Wallet: Desktop wallets are a storage option specifically designed for PCs. They are generally more secure than web and mobile wallets because they have security features like 2FA and advanced encryption. Examples of desktop wallets for Bitcoin gold include the Bitcoin Gold Core Wallet, ElectrumG, Exodus, Safepay and Zelcore. 

Hardware Wallet: Hardware wallets are the most secure option. These wallets are secure because they are completely offline when not in use and are the least vulnerable to hacks and theft by cybercriminals. Good hardware wallet options for BTG include the Ledger Nano S, Trezor, Keep Key, Coldlar, Kasse and Kaiser. 

Wallet Combinations: It is possible to interlink different types of wallets for increased security and convenience. Some people have a main wallet that’s either on their laptop or phone, an escrow wallet on an exchange or broker platform, and an offline wallet for long-term storage. For example, if you store your BTG coins offline in a Trezor device, you could connect the Trezor wallet to your Electrum or Exodus wallets for ease of use.

What Other Coins Can I Trade or Use to Buy Bitcoin Gold?

Buying BTG using fiat money isn’t the only option for prospective investors. Several broker or exchange platforms allow users to buy Bitcoin Gold with Bitcoin or other cryptocurrencies. Exchanges have “trading pairs” that combine two different cryptocurrencies together to enable easy trade. So, depending on the platform you use, it may be possible to buy BTG using Bitcoin, Ethereum, Litecoin, Ripple and more. 

What’s the Smallest and Largest Amount of Bitcoin Gold I Can Buy?

While it is possible to trade very small denominations of BTC and ETH because of their high value, Bitcoin Gold is not as valuable. Not yet anyway. 

However, it is still possible to buy very small amounts of BTG. Most cryptocurrency exchanges and broker platforms have a minimum purchase amount of 0.01 BTG. There is no BTG buy limit, so you can buy a whole BTG coin or more if you have the funds for it. Your upper purchase limit depends on the platform you’re using, your investment amount and any regulatory restrictions. 

Can I Buy Bitcoin Gold Anonymously with no ID? Is it Safe and Legal to Buy Bitcoin Gold?

Cryptocurrencies typically make the news for controversies, so it’s only natural to wonder: Is buying Bitcoin Gold illegal? Unless your country has passed specific laws prohibiting cryptocurrency transactions, then using BTG is perfectly legal. You can buy BTG safely via reputable and secure cryptocurrency exchanges or brokers that support Bitcoin Gold purchase. 

The only drawback with using a cryptocurrency exchange or broker platforms is that you need to verify your identity in order to comply with KYC or AML guidelines. If that’s not your cup of tea, you can alternatively buy Bitcoin Gold anonymously if you can find someone holding BTG who is looking to sell. If you want to buy BTG without ID, consider using peer-to-peer marketplaces to easily locate sellers near you.

Will Buying Bitcoin Gold Make Me Money?

As with any cryptocurrency, take a look at fundamental and technical analysis indicators to determine the potential profitability of Bitcoin Gold. Who is buying BTC? How much does it cost to buy BTG today when compared to the same time last year? What are its historic price movements? What updates are the development team working on? While these indicators can’t offer airtight conclusions, they can give you a good idea of Bitcoin Gold’s potential profitability.  

If you want to learn about how much it costs to buy BTG, then check out our Bitcoin Gold Price Page. Our extensive guide contains all the information you need to know the best price to buy BTG before you invest. 

How to Spend your Bitcoin Gold

Like many cryptocurrencies, BTG can be used as a currency of value. You can use your coins to pay for goods and services from select online merchants in various niches that accept BTG as a payment option. 

More ways to spend BTG will be available in the future. The developmental team has partnered with the Phala Network to implement a lightweight cross-chain bridge that facilitates transactions between BTG and Phala. This integration will enable Bitcoin Gold to gain access to advanced blockchain features like on-chain governance, smart contracts and DeFi protocols. 

How to Sell Bitcoin Gold

Brokers and cryptocurrency exchanges are the best places to sell Bitcoin Gold online. Depending on what your chosen platform offers, you could trade your BTG coins for fiat money or other cryptocurrencies. 

Another alternative is to use your BTG to speculate on the future price movements of Bitcoin Gold via CFDs. It may be easier to open and close CFDs that are tied to BTG than selling your coins. 

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KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
Payment Methods:
Bank Transfer, Debit Card, neteller, Credit Card, WebMoney, Mastercard, American Express, AdvCash, Payeer, Perfect Money, Apple Pay, Discover, Banxa, Simplex, Bank Transfer: SEPA, AirTM, Wise, Cash App, skrill, Zelle
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Frequently Asked Questions

What’s the difference between Bitcoin Gold and Bitcoin?
Bitcoin Gold BTG was forked from the original Bitcoin codebase in October 2017. With the exception of its mining algorithm which prohibits industrial-mining rigs, the two networks are almost identical and have a closely compatible blockchain. However, they have different development goals, and the Bitcoin Gold price differs from BTC.As well as Bitcoin Gold there are other forks with 'Bitcoin' in the name this includes Bitcoin Cash and its fork Bitcoin SV. Check out our How to Buy Buy Bitcoin Cash Guide for more information.
Is Bitcoin Gold secure?
While Bitcoin Gold BTG has had a turbulent past, it is currently considered secure. The network has been hit by multiple 51% hashing attacks, but the development team released a patch in July 2020 to prevent further attacks.
Is Bitcoin Gold backed by Gold?
Bitcoin Gold is not backed by any material resource. While stablecoins that are backed by gold and other precious metals do exist, BTG isn’t one of them.
What is Bitcoin Gold used for?
Like Bitcoin, BTG can be used as a medium of exchange. The development team is focused on making the network interoperable by implementing a cross-chain bridge solution that allows smart contract integration.
Is Bitcoin Gold worth mining?
Bitcoin Gold BTG was specifically designed to be impossible to mine with ASIC (Application Specific Integrated Circuit) computers. You can mine BTG using your computer’s CPU or GPU. While solo mining is possible, consider joining a Bitcoin Gold mining pool if you want to turn a profit.
Does Bitcoin Gold have an official wallet?
The Bitcoin Gold Core wallet for desktops is the only official wallet available for BTG. ElectrumG is the only other wallet the development team recommends.
Does Bitcoin Gold have a future?
The Bitcoin Gold development team released a roadmap for the project in April 2021. They have big plans for the network, including building a lightweight bridge with Polkadot to give BTG access to features such as smart contracts, on-chain governance, and DeFi protocols.
What is the total supply of Bitcoin Gold?
Just like Bitcoin, the total supply of Bitcoin Gold is capped at 21 million coins. At the time of writing, over 17.5 million tokens were already in circulation.

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