Buy Bitcoin Gold (BTG)
What is Bitcoin Gold?
Bitcoin Gold (BTG) is a decentralized cryptocurrency that emerged as a hard fork of Bitcoin in November 2017. Its core objective is to democratize mining by enabling anyone with a standard Graphics Processing Unit (GPU) to mine BTG—rather than relying on specialized ASIC hardware. This approach is intended to restore decentralization in the mining process and foster a more inclusive cryptocurrency ecosystem. By encouraging broader participation, Bitcoin Gold aims to reduce the influence of large mining farms and uphold the decentralized ethos of crypto.
How does Bitcoin Gold work?
Bitcoin Gold operates on a blockchain that closely resembles Bitcoin but adopts the Equihash-BTG proof-of-work algorithm, designed to be ASIC-resistant. This allows GPU mining, fostering more widespread miner participation. Like Bitcoin, Bitcoin Gold uses the proof-of-work (PoW) consensus mechanism, where miners validate transactions by solving complex mathematical problems and earn BTG rewards. Additionally, Bitcoin Gold supports second-layer solutions such as the Lightning Network, enabling faster, more scalable payment processing and opening possibilities for smart contract functionality.
What are the potential use cases for Bitcoin Gold?
- Decentralized Mining: By supporting GPU mining instead of ASICs, Bitcoin Gold creates a fairer and more distributed mining environment.
- Payments: BTG can be utilized for everyday transactions, backed by compatibility with various exchanges and wallet services.
- Financial Inclusion: Its accessible network lowers barriers for underserved communities to engage in digital finance.
- E-commerce and Online Services: Although less adopted than Bitcoin, BTG can still serve as a payment method for digital goods and services.
- Cross-Border Transactions: BTG enables faster, more affordable international transfers by bypassing traditional banking inefficiencies.
What is the history of Bitcoin Gold?
Bitcoin Gold was conceived by a team led by Jack Liao in July 2017 and officially launched as a hard fork from Bitcoin on October 24, 2017. The fork aimed to address mining centralization by adopting an ASIC-resistant algorithm. Over time, Bitcoin Gold has implemented various algorithm updates and upgrades to bolster security and functionality. Although the network experienced 51% attacks in 2018 and 2020, it continues to evolve with ongoing development efforts dedicated to improving its technology and market presence.
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Frequently Asked Questions (FAQs)
What is the current price of Bitcoin Gold (BTG)?
The Bitcoin Gold price is $9.7113 AUD, representing a +3.27% from the day prior.
Where is the best place to buy Bitcoin Gold (BTG) in Australia?
The best place to buy Bitcoin Gold (BTG) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Bitcoin Gold (BTG) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Bitcoin Gold (BTG)?
The trading volume of Bitcoin Gold (BTG) is $52.5M AUD in the last 24hrs, representing a +3.27% from the day prior.
How can I buy Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Bitcoin Gold (BTG)?
The current market cap of Bitcoin Gold (BTG) is $150.6M AUD.
Can I convert Bitcoin Gold (BTG) to cash?
Yes - With Coinstash you can convert your Bitcoin Gold (BTG) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Bitcoin Gold (BTG) are there?
The current circulating supply of Bitcoin Gold (BTG) is 17.5M.
Is Coinstash a safe place to buy Bitcoin Gold (BTG) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Bitcoin Gold (BTG) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.