If you have read our beginners’ guide to Bitcoin Gold,
If you have read our beginners’ guide to Bitcoin Gold, you may be wondering if you have enough reasons to buy Bitcoin Gold, (BTG) this new year.
This very extensive period of a continuous bearish market has, in all likelihood put many investors off investing at all in cryptocurrencies. Moreover, Bitcoin Gold probably is an altcoin which does not attract as much attention as its siblings forked from the Bitcoin blockchain.
You may also read: Best Altcoins To Invest In 2019
However, many issues factor in while making a choice about investing in any sort of digital assets, and here are 10 reasons why one should consider investing in BTG in 2019.
1. It is backed by Bitcoin
Bitcoin, as we all know, is the largest cryptocurrency by market cap, which is also the most acceptable and widely used. Being a fork of Bitcoin ensures that Bitcoin Gold can maintain the legacy of Bitcoins while improving on their drawbacks.
2. Supply
The maximum supply of BTG is capped at 21,000,000.
According to CoinMarketCap, at press time, the circulating supply of the currency was 17,413,924 BTG. Being able to keep the supply of the BTG coin in check is a good thing because coins with unchecked supply, in the long run, will not be able to function effectively as ‘money’, as digital assets must be scarce to do so.
3. Mining decentralization
The centralization of mining among specialized and expensive ASIC hardware operators has one of the most central criticisms against bitcoin in recent years.
By giving ordinary users the chance to mine BTG with GPUs, the coin’s developers are well placed to achieve their goal to “make bitcoin decentralized again”.
4. Lightning Network integration.
This is designed to enable near-instant payments and reduced fees through dedicated side channels, as well as to enable a much greater number of transactions between large entities at minimal costs.
5.Transparency:
The Bitcoin Gold network is a fork of the Bitcoin network, which is known to be the most secure and transparent blockchain.
Right from the month of October, in 2017, BTG has been performing other small-scaled forks to ensure that the network remains one of the most secure as well as one of the most transparent ones.
You may also read: Top 50 Richest Bitcoin Gold Addresses
6. Scalability
That Bitcoin Gold is scalable is understood from the fact that, only months back it was trading at much higher rates than it is now, and such volatility has been a common enough occurrence from which it always seems to bounce back.
7. Accessibility
By mid-January 2018, just two months after its launch, Bitcoin Gold was listed in 46 markets on 26 exchanges and was also supported by exchange platforms ShapeShift and Changelly. This availability makes it easy to access for a wide variety of buyers and also increases its credibility in the eyes of the public.
8. Wide distribution
Everyone who held bitcoin before the fork received BTG at a ratio of 1:1.
This distribution among the cryptocurrency community can be considered an effort to increase the chances of Bitcoin Gold achieving widespread adoption.
9. Security
Replay protection protects users from malicious attacks by preventing transaction replay & funds loss by making transactions on one chain invalid on others. Deviation in the total amount of hash power is prevented by the difficulty adjustment algorithm which protects against big swings in hash power. Bitcoin Gold has also changed the format of its addresses to prevent confusion with Bitcoin address in order to prevent the unintended transfers of Bitcoin to a Bitcoin Gold address and the consequent loss of coins.
10. Current Price
The crypto market has been going through a tremendous bearish phase now, and as the prices of assets dip every passing week, Bitcoin Gold has been no different. At press time, it had been trading at 13.56 USD. Bitcoin Gold is one of the most affected digital assets, the current value of the BTG coin is miles away from its value early into 2018 but, buying and holding Bitcoin Gold (BTG) now can prove to be very profitable in the future when the crypto market resumes its bull run and Bitcoin Gold (BTG) ascends in value.
That the crypto market will bounce back is a given, and if this guide helps you, you also might want to check out our article about Pros & Cons of Bitcoin Gold, before going ahead with that investment.
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