Buy Bitcoin Gold
About Bitcoin Gold
BTG is a crypto with Bitcoin fundamentals, mined on common GPUs instead of specialty ASICs. ASICs tend to monopolize mining to a few big players, but GPU mining means anyone can mine again - restoring decentralization and independence.
GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have.
How is the price of Bitcoin Gold determined?
Bitcoin Gold's price is determined by how many BTG are available to buy and how many are wanted at any point in time. Unlike company stocks, BTG is continuously traded, so the price is always changing.
Price changes depend on three factors:
- How much BTG is wanted (demand);
- How much BTG is available for sale (supply); and,
- How many BTG are available in total (circulation).
The price people are offering to pay for BTG is called the 'Bid Price', and the price to sell BTG for is called the 'Asking Price'.
The BTG price is calculated many times per second by computers all over the world that track the trading volumes and the Bid/Ask spread on every exchange.
If there are a lot of BTG available for sale and not many people buying, the Ask Price will drop. If few BTG are available for sale and lots of people want to buy, their Bid Price will have to increase to be competitive
The price of BTG ‘floats’ between these two numbers. As a lot of people use Uphold for cryptocurrency trading, we try to offer a very competitive price for BTG (Bitcoin Gold).
What the bears are saying
- Bitcoin Gold is still a mined cryptocurrency: Unlike many cryptocurrencies that work on a consensus model, BTG is still based on mining, which isn’t environmentally friendly.
- The price has ‘flatlined’ for some time: Bitcoin Gold’s price has been flat or dropping for much of the past two years.
- Bitcoin Gold has suffered attacks: Bitcoin Gold has been hit by three separate 51% attacks since launch, which means the network needs to grow so it can be better protected.
What the bulls are saying
- Bitcoin Gold is a Top 50 cryptocurrency: BTG has proven to be a good quality coin to hold as it remains in the Top 50 (out of thousands of cryptocurrencies).
- Designed to be mined with common hardware: Unlike Bitcoin, there’s an opportunity for smaller miners to participate in mining BTG thanks to the use of CPUs and GPUs (rather than expensive ASICs used for Bitcoin).
- It’s limited to 21 million coins: Bitcoin Gold is limited to 21 million BTG (exactly the same number of Bitcoin). This means that because supply is small, prices have the potential to be higher.
How to buy BTG
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.
This content is correct as of October 2020
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