Buy/Sell Bitcoin Gold
Are you interested in buying the new cryptocurrency Bitcoin Gold? Are you located in the UK, Australia? Some other country? Would you like to use PayPal or another payment method to invest in Bitcoin Gold? In this article, we will be teaching you the steps involved in investing in this cryptocurrency. If you are in a hurry and you would like to start trading Bitcoin Gold using CFDs, click here to start buying and selling Bitcoin Gold CFDs with the online broker Plus500 without paying any commissions. If you would like to learn more about this cryptocurrency and how to trade with it, please feel free to read the remainder of this article (76,4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money).
Bitcoin Gold (BTG) was created in the latter part of 2017 when the cryptocurrency Bitcoin (BTC) underwent a hardfork. This is the second BTC hardfork; the first one resulted in the creation of Bitcoin Cash. In this instance, Bitcoin Gold has adopted a series of new and unique characteristics which we will investigate further in this article and which have attracted the attention of many investors who anticipate that Bitcoin Gold will become a highly successful cryptocurrency.
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How to buy Bitcoin Gold in the United Kingdom and the rest of the world
We will start at the beginning. If you are reading this, you are undoubtedly interested in knowing how to buy Bitcoin Gold from within your country of residence. Therefore, we will begin by taking a look at how to buy and sell this cryptocurrency via CFDs. In order to do so, you will need an online broker that allows trading with this cryptocurrency. Since Bitcoin Gold is relatively new, there are still few brokers that include it among their tradable assets. That is why we went in search of the best broker that allows this kind of trading.
The process of buying and selling Bitcoin Gold CFDs is the following:
- Click here to open an account with a broker such as Plus500 (76,4% of retail CFD accounts lose money).
- On the landing page, click the button labeled “Start trading now”
- Fill out the required fields with your personal information
- Your account will now be ready to use
If you have followed these steps correctly, you will have registered an account with the broker that can now be used to trade. Opening an account is free and does not require any financial commitment. That is to say that you can register without having to deposit any funds into your trading account. In this way, you will have an account that is ready to use whenever you decide to start real money trading. If you choose to never use it again, that’s not a problem either; you will not be charged anything or be required to pay any commissions. On the other hand, if you decide to start using your trading account, you will be required to make the minimum initial deposit of 100 euros/dollars.
One of the advantages of a broker such as Plus500 is that it allows its users to make use of leverage. Of course, trading using leverage is risky and while it is possible to turn a nice profit doing so, it is also possible to lose money.
What are the ways in which you can deposit funds to your trading account in order to start trading? There are quite a few payment methods available. In order to be able to trade with Bitcoin Gold you will need to use euros, dollars or the national currency of the country in which you reside. As such, you will need to make a deposit to your trading account before you will be able to begin real money trading. Plus500 accepts many different payment methods.
PayPal is still the world’s primary means of electronic payment. As a matter of fact, PayPal, one of the largest companies within its sector, is a publicly traded entity on the stock market. If you would like to invest money with Plus500, you can buy and sell Bitcoin Gold by making a deposit via PayPal.
Both credit and debit cards issued by either Visa or Mastercard are accepted by Plus500. Depositing funds via a card is one of the fastest ways of funding your trading account; the process is almost instantaneous and there is no waiting time like there is when making a bank transfer.
Bank transfers are still one of the most popular payment methods of investors – despite not being instantaneous. If you enjoy using this payment method, you will be glad to know that it is among the payment methods accepted by this online broker.
We began this list by mentioning PayPal and we will end it by discussing Skrill. If you have never heard of this payment processor, it is one of the most modern and fastest-growing electronic payment methods. More and more people are using Skrill – which is among Plus500’s list of accepted payment methods.
What factors determine the price and value of Bitcoin Gold?
As we started explaining at the beginning of this article, Bitcoin Gold was created as the result of a hardfork of Bitcoin, in much the same way as Bitcoin Cash. In the case of Bitcoin Gold, after block 491406 was mined, there was an exchange rate of 1:1 between BTG and conventional Bitcoin.
In general, an asset’s price is determined by the supply and demand for it. Therefore, it could be useful to analyze the factors that could have an impact on BTG’s supply and demand. As we will see, the most complicated part of this analysis is determining the demand side of the equation.
Supply, in BTG’s case, is limited since the total maximum possible number of coins in circulation is 21 million. There is still time before this number is reached and these coins are produced as a result of mining. Mining requires specific hardware and software and involves a high degree of energy consumption. This is why instead of mining, many people prefer to directly purchase cryptocurrencies or to acquire these currencies by means of CFD trading. Since we have established this currency’s total supply, we can move on to analyzing the demand for Bitcoin Gold.
The demand for a cryptocurrency depends on the number of people interested in buying and using it. This makes it very difficult to undertake an accurate estimate of the current demand for any given cryptocurrency. What can be done, however, is to take a closer look at Bitcoin Gold’s characteristics to see how attractive this cryptocurrency may appear to other investors and consumers. The main difference between Bitcoin Gold and conventional Bitcoin as well as Bitcoin Cash is that the Proof of Work (PoW) algorithm used by Bitcoin Gold is Equihash instead of Sha256. Moreover, the hardware required for mining Bitcoin Gold is GPU-based instead of ASIC-based. These are its main differences, not only with respect to BTC and BCH, but also with respect to Ethereum, Ripple, Litecoin, Nem, Dash, Monero and Zcash. Nevertheless, Bitcoin Gold has other features in common with other blockchain-based cryptocurrencies.
In order to get a sense of Bitcoin Gold’s likely future value, you will need to make your own estimate of whether this cryptocurrency’s value will increase or decrease over the short and long term. One thing is certain, the use of cryptocurrency is becoming more widespread all over the world, which tends to indicate that it may become the dominant form of money in the future. No one can say for sure and it is always possible that things will not turn out this way. As such, you should always remember that there are risks associated with investing.
Trustworthy and inexpensive broker
In order to buy and sell Bitcoin Gold, you will require a broker. However, this cryptocurrency was created in the latter half of 2017 and for the time being, very few brokers have adopted it as a tradable asset. This means that you will have to invest time and energy looking for a broker that allows Bitcoin Gold trading. You should also be aware of the fact that some of these brokers should not be trusted since they are not properly regulated.
One of the possible options is trading via CFDs with Plus500. Plus500 is one of the leading CFD online brokers; it does not charge any commissions and lists Bitcoin Gold among its tradable assets. The question is, can it be trusted? While it is never possible to say with 100% certainty, what is certain is that Plus500 is regulated by bodies such as CySEC and the FCA. And, can these regulatory bodies be trusted? If you have never heard of the FCA, it is the United Kingdom’s regulatory body – a very reputable organization. Moreover, in Australia, Plus500 is overseen by the AFSL.
Furthermore,‘Plus500 Ltd is listed on the Main Market of the London Stock Exchange. This implies that it is overseen by additional regulatory bodies and that it must undergo external audits. All of these factors lead us to believe that this online broker is trustworthy.
We have spoken at length about Bitcoin Gold, and it has come time to end this article. This cryptocurrency has inherent characteristics that make it a potential candidate for widespread use in the future. Nevertheless, due to future uncertainty, investing in this cryptocurrency implies taking a rather big risk. One option for trading with Bitcoin Gold is to do so via CFDs. If you are interested in pursuing this option, you can start buying and selling Bitcoin Gold CFDs without paying any commissions with Plus500 by following this link (76,4% of retail CFD accounts lose money).