Below we introduce you to the different ways in which you can buy Bitcoin Gold (BTG) quickly, easily and safely. We’ll also show you how to manage and store your BTG on a wallet. You can find the current price of Bitcoin Gold in our Bitcoin Gold Chart.
Bitcoin Gold is another fork from Bitcoin and was created in August 2017. Within the Bitcoin community there were numerous developers (at the end of 2017) who wanted to increase the block size, so a hard fork was necessary to realize this idea. In addition, Bitcoin Gold pursues the idea that everyone should participate in mining. Therefore Bitcoin Gold can only be mined with a graphics card (GPU). High-performance ASICs are locked out of its network.
Before you read through our purchase instructions, however, you must make an important decision. Depending on your decision, we will provide you with the appropriate buying instructions.
An important decision before you buy Bitcoin Gold
The big question is: Do you want to manage your Bitcoin gold yourself and have complete control over your property? Or are you looking for a simple solution and pass the responsibility on to an exchange?
Please consider the following: The big goal of cryptocurrencies like Bitcoin Gold is to create a financial system that can work completely without middlemen like banks. For this reason it is in our opinion desirable to manage your BTG yourself. Only you have access to your coins via your private key. Exchanges have been hacked many times in the past and cryptocurrencies worth several million dollars have been stolen. Therefore we recommend to use an external wallet. We will show you further down in the article what possibilities there are at this point.
We also provide you with buying instructions for the following exchanges:
Trade BTG on Binance
Buy Bitcoin Gold: Step-by-Step Guide
Binance is one of the largest exchanges in the world and has a very user-friendly interface and good support in English. We have been a regular customer of the Exchange for more than 2 years and are completely satisfied with the Exchange. You can read our detailed Binance test report here.
Until the beginning of 2019, it was not possible to buy cryptocurrencies by credit card on Binance. This has changed so that you can buy Bitcoin, Ethereum, XRP, Binance Coin and Litecoin by credit card. However, you can only trade BTG against Bitcoin and Ethereum. Direct purchase is not possible. The first step is to go to the official Binance website. Click on the following link and create an account*.
No personal data is required at this point. Your daily trading limit is immediately and without verification at 2 Bitcoin. Nevertheless, we recommend that you submit all documents in order to make full use of all the functions of the exchange. Your trading limit will then rise to 100 BTC per day. You can then use it to deposit and withdraw cryptocurrencies worth 100 BTC per day.
Step 1: Buy Bitcoin Gold by credit card
Once you have created an account and logged in to Binance, you can start buying Bitcoin Gold. Click on the “Funds” tab and then on “Buy with Credit Card”. You get to the following view, where you select BTC (Bitcoin). You also have to decide if you want to buy Bitcoin with USD or Euro.
You have to buy Bitcoin first so you can trade it against Bitcoin Gold. This is necessary because Bitcoin Gold cannot yet be purchased directly by credit card.
Binance works with third-party provider Simplex to process all transactions quickly and securely. If you buy Bitcoin by credit card, you must verify your identity. This is necessary because you are engaged in transactions with Fiat currencies. The actual purchase of Bitcoin by credit card is very simple. We have summarized the most important steps for you:
- Choose BTC for Bitcoin and USD or Euro depending on the currency you want to pay in.
- Fill in all the fields required to verify your identity and upload the documents.
- Verify your e-mail address as well as your telephone number with the code sent by Binance.
- Then enter your credit card information as soon as Simplex asks for it.
Before and during the purchase some conditions must be considered:
- The amount stated is based on the current Bitcoin price and is not final. Only when your payment arrives at Simplex will the relevant rate be set. If the exchange rate fluctuates more than 2.5% up or down, you will have to confirm the transaction again by e-mail.
- Once the payment has been completed, all information in the payment history can be checked.
- Simplex charges a fee of 3.5% or 10 USD, whichever is higher.
- The daily limit to buy cryptocurrencies is 20,000 USD per day and 50,000 USD per month.
- Currently the minimum purchase amount is 50 USD (July 2019).
Step 2: Trade Bitcoin against BTG
Once you have successfully bought Bitcoin and arrived on your Binance wallet, you can start trading Bitcoin against BTG. If you already have Bitcoin on your wallet, you can immediately go to step 3 and trade Bitcoin against BTG.
But maybe you own Bitcoin on another exchange or you would like to buy BTC somewhere else. Then you must first send your Bitcoin to the wallet of Binance. Click on the “Funds” tab and then on “Deposit”. Next you have to enter BTC in the search field. Then click Deposit in the BTC-Bitcoin row.
In the next step you will see your Bitcoin Receive address. You must send your Bitcoin to this address if you have not purchased a Bitcoin via Simplex.
Step 3: Trade Bitcoin Gold for Bitcoin
Either way, your Bitcoin should have arrived on your wallet from Binance. Now there are only two small steps left to buy Bitcoin Gold. Click on the tab “Exchange” and then on “Basic”. Then enter BTG in the search field. Now click on the trading pair BTG/BTC. All fields are marked red in the screenshot.
Now the price display under the chart will change. You can now buy BTG by “Limit” or “Market” order. The function “Stop-Loss” is still available, but this function is useless for the target.
A limit buy order is an order placed in the order book at the price you set. If the market price reaches your limit price, the purchase order will be executed immediately. However, when limit orders are used, there is no guarantee that they will be executed. If the market price does not reach your limit price, the order remains open. However, you can delete the order at any time and place it again.
We recommend that you use the Market Order. With a market order, your buy order will be executed immediately at the current average market price. This type of purchase is particularly suitable for beginners and investors who bring little time.
If you have followed the previous steps, you have now reached the following overview. Now click on Market and enter in the column “Amount” how much Bitcoin Gold you want to buy. When you have completed all the fields, click on “Buy BTG“.
Normally your purchase order is executed immediately and you are now the proud owner of Bitcoin Gold Coins. You can either store your BTG on Binance or send it to a free wallet that offers greater security.
In the past, many exchanges were already victims of hacker attacks. Binance was also hacked in May 2019 and 7,000 Bitcoin were stolen. So think about where you keep your Bitcoin gold. If you want the best possible protection, you can buy a hardware wallet. Check out our hardware wallet test overview to see which models are available on the market. Our test winner is the Ledger Nano X. If you don’t want to spend so much money and only want to store a few cryptocurrencies on your wallet, then the predecessor model, the Ledger Nano S, can also be a good option.
Below we’ll show you how to create a free desktop wallet and store your BTG on it.
Create a Bitcoin Gold Wallet – that’s how it works!
There are many different wallet providers on the market, each offering different levels of security. We have had very good experiences with the Bitcoin Gold Wallet and have been using the Atomic Wallet for more than 2 years. The user interface is very simple and easy to understand. The wallet can also be restored using a backup phrase. Besides Bitcoin Gold many other cryptocurrencies like NEO, IOTA, Monero or Dash can be stored.
The first step is to go to the official website and download the software. Click on the following link which will take you directly to the landing page where you can download everything. The Atomic Wallet is available as desktop version as well as for the mobile phone for iOS or Android.
Click on the appropriate icon depending on which operating system you are using. The download should not take longer than 2 minutes. Install the software and then start the wallet. In the first step you will be asked if you want to create a new wallet or reactivate an existing one. Click on “New Wallet” as you want to create a new wallet.
The next step is to enter your password and confirm it again. Then click on “Set Password“. The wallet will now be created for you and you will be redirected to the actual wallet dashboard. Now the wallet shows you your “backup phrase”, which consists of 12 words. Write this phrase on a piece of paper that you keep in a safe place.
With this seed you can restore the wallet on another computer if your PC breaks down. When you have successfully written down your seed, click on “Open Wallet“. The wallet supports more than 300 different cryptocurrencies. To find out your Bitcoin Gold Receive address, enter Bitcoin Gold in the upper search field. Now you can display your Receive Address. Both are framed in red in the following screenshot.
To copy the address, simply click on the address with the mouse pointer. Now you can go to Binance or another Exchange and add the Receive Address as your destination address so that you can withdraw your BTG from the Exchange and send it to your Bitcoin Gold Wallet.
If you want to send BTG from your wallet, simply use the destination address below, framed in green in the screenshot.
Buy Bitcoin Gold on Bitfinex
Bitfinex is one of the oldest exchanges on the crypto market and was founded in 2012. Bitfinex now offers over 100 different digital assets for trading on the platform, including Bitcoin Gold. The first step is to create an account on the exchange. Click on the following link which will take you directly to the registration page. Then click on “Sign Up” in the navigation bar. Now you have to assign a username and a password.
When you have entered all the necessary information, click on “Open Account“. You will then receive an email from Bitfinex with a confirmation link. So go to your mailbox immediately and click on this link. Your account will be activated immediately. Now you can log in.
If you want to buy Bitcoin Gold now, there are two options:
- You verify your identity and deposit USD to your account.
- Of course you can also deposit Bitcoin, Ethereum or Tether on the wallet of Bitfinex and trade them against BTG.
Depending on whether you already have cryptocurrencies, both options may be interesting for you. For both options we show how the Bitcoin Gold purchase works in detail.
Buy Bitcoin Gold with USD or Euro
As mentioned before, you must first verify your identity in order to purchase BTG with USD. Click in the upper right corner on “Account” and then on “Verification“. You arrive at this new view:
Upload all necessary documents and enter the necessary information. At this point it is important that you verify your bank account that communicates with Bitfinex. Once you’ve done that, you can proceed to buy Bitcoin gold. Click on “Deposit” in the navigation bar. Now you can choose between different currencies that you can deposit, Euro, Pound, USD or the Japanese Yen. We recommend that you deposit USD as you will need to exchange the other currencies and a small fee will apply.
Click on your local currency and follow the next steps to transfer your chosen amount to Bitfinex. Then click on “Trading” in the navigation bar next to the Bitfinex logo. Now enter BTG in the column “Ticker”. Then select USD, because you want to buy BTG with USD, both are framed in red in the screenshot.
Now you have to click on “Order Form”, which is located directly below. There are three different ways you can buy BTG: “Limit“, “Market” and “Stop Limit“. We will briefly explain what the terms Limit and Market mean:
- If you place a Limit order, your buy order will only be executed if the Limit price you set is reached. If the price cannot be reached, your order remains open. You can either leave your order or delete it and place it again.
- In contrast to the limit order, the market order is executed immediately at the current market price. Therefore, the Market Order is particularly suitable for beginners and investors who bring little time with them.
Choose “Market” and enter in the right column how much BTG you want to buy. In the left column you will see the corresponding amount in BTC, which you will spend for BTG. When everything is entered, click on “Exchange Buy“.
Your market order will be executed immediately and you are the proud owner of Bitcoin Gold.
Trade Bitcoin Gold vs. Bitcoin
You can either buy Bitcoin gold as just described with USD or you can deposit Bitcoin on the wallet of Bitfinex and trade BTC against BTG. We will show you below how it works.
If you already have Bitcoin, you can simply send it to Bitfinex’s Bitcoin Wallet. If you have yet to buy Bitcoin, please see our instructions on how to buy Bitcoin. During the purchase process you enter the address of the Bitfinex Bitcoin Wallet in the correct place as “Receive Address”.
To find out the address, proceed as follows:
- Go with the mouse pointer into the navigation bar and click on “Deposit”.
- Now search the list for Bitcoin and click on it.
- Now you can copy your Bitcoin Wallet address and paste it on another wallet from which you want to send the Bitcoin to the Bitfinex Wallet. Bitfinex charges a small fee of 0.0004 BTC for deposits of less than 1,000 USD.
When your Bitcoins have arrived on your Bitfinex wallet, you can start trading now. Click on “Trading” in the navigation next to the Bitfinex logo. Then type BTG into the search field in the “Tickers” tab and click on BTC because you want to trade BTC against BTG. In the screenshot both are marked red twice.
The next step is to click on “Order Form“. Here you select “Market”, because your purchase order should be executed immediately. In the right column, enter how much BTG you want to buy. Directly next to it in the left column you will see how much BTC your Bitcoin Gold purchase will cost.
If now everything fits you can click on “Exchange Buy” and your order should be executed immediately.
Buy Bitcoin Gold on OKEx
The Bitcoin Gold Exchange OKEx was founded in 2014 and is now one of the largest exchanges in the world. We’ll show you how to deposit Bitcoin on OKEx and then trade BTC against Bitcoin. If you don’t own a Bitcoin yet, you can read how to buy Bitcoin on Litebit in our Bitcoin Buying Guide. You can then send your Bitcoins directly to OKEx.
The first step is to create an account on OKEx. Click on this link which will take you directly to the registration page. When you register, you must enter your email address. Right next to it there is a field you have to click on, “Get Code“, marked red in the screenshot. OKEx will immediately send you a mail containing a confirmation code. You have to enter this code in the field “Email Code”.
Click on the “Account” tab and then on “Deposit“. In the column “Token” you have to select Bitcoin, because you want to deposit Bitcoin on your wallet. Then you will see your Bitcoin Receive Address, also called “Deposit Address“. You have to copy and paste this address to another Exchange or Wallet to send your Bitcoin to OKEx.
When your Bitcoins have arrived on OKEx, you can trade them immediately for Bitcoin. Click in the navigation on the tab “Spot Trading” and then on “Crypto“, marked red. Now enter BTG in the search field. Then select Trading BTG/BTC, marked orange. In the field “Amount” you have to enter how much BTG you want to buy, marked green.
In the column “Total BTC”, you can see the current total price for your BTG. Now select the “Market” option. When you have set up and entered everything you can click on the green button “Buy BTG“. There are also different types of orders how you can buy BTG. We explain the two most important ones below.
The “limit” order is a buy order that is only triggered when the market price you have set reaches it. If this is not the case, your order remains open. In this case you can delete your order and place it again.
In contrast, with a “market” order, your buy order is executed immediately and the trade is executed at the current market price. There shall be no delay or possibility of non-performance. Therefore, this type of purchase option is particularly suitable for beginners and investors who bring little time.
If everything worked successfully, you are now the owner of BTG Coins. If you want to bet on the rate of Bitcoin Gold and other cryptocurrencies, you can also trade with 3-fold leverage. Be aware, however, that the risk of losing everything increases significantly.
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