If you would like to learn how to buy Bitcoin Gold from within Australia, the United Kingdom or any other country for that matter, you have come to the right site as we will be explaining the entire process in this article. By the end, you will be able to invest using euros, dollars and other currencies by going through PayPal or Skrill or by using a credit/debit card or making a bank transfer. We will also be looking at how to trade using CFDs. If you are in a rush and would like to start right away, click here to start trading Bitcoin Gold with Plus500 without paying any commissions. If you would prefer to take your time and to learn more about Bitcoin Gold, please feel free to read the remainder of this article (CFD service, remember that CFDs are a leverage product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved).
Bitcoin Gold (BTG) came about as the result of the second hardfork to affect Bitcoin (BTC), the first hardfork having resulted in the creation of Bitcoin Cash (BCH). The reason why Bitcoin Gold was created was to improve conventional Bitcoin by making certain changes to it, which in the opinion of its creators, will allow for Bitcoin Gold’s widespread use. That is why there are many people who consider that Bitcoin Gold has a lot of growth potential, although it is impossible to make an accurate prediction in this regard. We would also like to remind you that there are risks involved in trading with this cryptocurrency.
What factors determine Bitcoin Gold’s value and price?
Whenever anyone buys or sells a cryptocurrency, that person is usually doing so with the idea of turning a profit. That is why it is important to study the factors that can cause Bitcoin Gold’s value rise or fall. In order to try to understand this variation, we will be looking at some factors that can influence this cryptocurrency’s supply and demand. In terms of demand, we will explore some of Bitcoin Gold’s unique features which differentiate it from other alternatives.
Let’s begin by taking a look at supply. Why are we beginning here? Because, while Bitcoin Gold’s supply is not easy to establish, it is easier to do so than to determine its demand. BTG’s supply is a function of how many people are mining it at any given time. As you know, cryptocurrencies such as Bitcoin Gold are based on blockchain technology and are created as a product of mining. Therefore, a cryptocurrency’s supply is limited by the number of people committed to mining it. Since mining is becoming more and more expensive, not as many people are doing it as there would be if mining was less costly. In any case, the total maximum number of coins that can ever be created is 21 million – meaning, essentially, that Bitcoin Gold’s supply is limited.
Demand for a given cryptocurrency depends on how many people want to acquire that particular asset at any given time. And, how many people want to do so? Well, that is what is impossible to know. Nevertheless, potential investors can attempt to predict an asset’s future trends. Generally speaking, it seems as though the use of cryptocurrency is becoming more widespread. Furthermore, for many people, Bitcoin Gold represents a clear improvement over all other cryptocurrencies. Many people also feel that Bitcoin Gold’s unique features make it a very interesting cryptocurrency. This could potentially lead to a wider adoption of Bitcoin Gold for making payments and completing transactions. If this were to happen, it is highly likely that BTG’s value would increase. However, the opposite situation could also occur, and there is always the possibility that its value will decrease in the future.
Reasons for buying or not buying Bitcoin Gold
Bitcoin Gold has certain advantages over all other virtual currencies according to its creators. It has a 1 MB block size like BTC, but the hardware required for its mining is GPU-based rather than ASIC-based. In addition, it uses the Equihash PoW (Proof of Work) algorithm. These two differences are what set Bitcoin Gold apart from the two other types of Bitcoin. In this way, it aims to decentralize Bitcoin mining – just as it was when Bitcoin was first created. Another characteristic which sets BTG apart is its unique address format. This not only sets it apart from the other Bitcoins, but also from Ethereum, Ripple, Zcash, Monero, Nem and Dash, among others.
Are these good enough reasons to buy this cryptocurrency? You will have to make up your own mind about that. Anyone who feels that this cryptocurrency will be successful and that it will increase in value should probably invest in it after having done his/her own analysis. People who feel that BTG will be unsuccessful and that its value will drop should either not invest it in or should choose to short-sell it. We insist on the fact, however, that the decision depends on you and on your own independent analysis of the situation.
Common doubts concerning PayPal
One of the major questions that people have is about the currency that they will need to use in order to purchase Bitcoin Gold; the answer is that it is possible to use almost any currency. And, although the most common currencies are the euro and the dollar, many others can also be used. However, possible payment methods vary from broker to broker. We will be speaking about Plus500 in this article because it allows its clients to conduct transactions via PayPal, credit/debit cards as well as via bank transfers and Skrill.
When trading with Bitcoin Gold, it is important to choose the right broker since not many brokers include BTG as a tradable asset. Plus500, on the other hand, allows trading with Bitcoin Gold via CFDs. Another important consideration is that Plus500 is regulated by both CySEC and the FCA – the UK’s regulatory body. Moreover, it is also regulated by the AFSL in Australia. It is this high degree of regulation which makes us believe that Plus500 is a trustworthy broker.
I want to buy Bitcoin Gold, what do I need to do?
We have just finished explaining some of Bitcoin Gold’s main characteristics and we are coming to the end of this article. The ball is in your court now, and it is up to you to perform your own analysis of Bitcoin Gold and to find out whether or not you consider it to be a worthy investment. If you would like to trade with this currency via CFDs, there are a few online brokers that will allow you to do so. Since it is not always easy to determine a broker’s trustworthiness and how well it is regulated, we would like to recommend Plus500 as an interesting alternative. If you would like to buy and sell Bitcoin Gold CFDs with Plus500 without paying any commissions, follow this link (CFD service, remember that CFDs are a leverage product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved).