Bitcoin Gold (BTG) was an outcome of Bitcoin Hard Fork
Bitcoin Gold (BTG) was an outcome of Bitcoin Hard Fork which took place on 24 October 2017 on the 491,07th block. The said update resulted in the formation of two new cryptocurrencies Bitcoin Gold (BTG) and Bitcoin Cash (BTC). So, anyone in possession of any BTC before 24 October will also receive an equal amount of BTG, against their BTC private key.
Now, one might think, how someone can make use of their private key to store two different forms of cryptocurrency. What if I want to pay using BTG and wallet sends BTC instead? Well, the security is a huge part of the cryptocurrency world, and unless you are using malicious software to generate private keys, you are well in control of your digital riches. Your wallet will only be used, for which you have assigned it.
Enough, of the wallet and how to manage your Bitcoin gold, let us dive into, how you can sell it and enjoy the dividend of your investment.
An Interesting Read: Pros & Cons of Bitcoin Gold
Different Modes of Transactions to Sell Your Bitcoin Gold
If you are not sure about the future of your Bitcoin Gold and want to cash it out, you can use different ways and methods to do so. In this section, I will try to put forward some different modes of transactions through which you can sell your Bitcoin Gold.
Use Paper Wallet
Paper wallets get its name for creating a secure and independent private key which are not stored on any other devices. If you are worried about your Bitcoin fortunes, we would recommend using a separate paper wallet for BTC as well as BTG. So, transfer your BTG to a different purse, generate a private key for the wallet and then use it to sell your Bitcoin Gold to whomsoever you wish to do. Its safe, secure and one of the most elegant ways to market your BTG. This paper wallet can be used to buy stuff payable in BTG. Electrum & Coinomi are some of the better Wallets currently available.
Crypto exchange
If you are not certain about the future of BTG, you can make a trade for it against something which is more reliable and stable. People prefer to either sell it our for USD or even trade it for a different currency. The best way to perform this task is through Crypto Exchanges which provides you with numerous options to choose from. Different crypto exchanges like Binance, changley, allows you to sell your Bitcoin Gold against the USD and also against other cryptocurrencies like Bitcoin, Ethereum, Ripple, etc.
Peer-To-Peer Sale
If you jumped into this crypto world just for the trend and not certain whether you can cope up with Ups and Downs in the market, then selling your Bitcoin Gold is the best option. However, let’s say you are in an urgent need of money and you are not familiar with the complexities involved in the Crypto exchanges. In this scenario, you can opt for a Peer-to-peer sale, where you contact or put up an advertisement regarding the BTG you hold. Anyone looking forward to investing in BTG would contact you, and you can negotiate the price.