Please note that Crypto Trading is only available to Professional Traders
Bitcoin Gold (BTG) for Professional Traders
Bitcoin Gold resulted from a hard fork in the Bitcoin blockchain, on 24 October, 2017. The purpose of the hard fork was to ‘decentralise’ Bitcoin again. The raison d’être for the creation of Bitcoin Gold was rooted in the mining process itself. The developers behind Bitcoin Gold believed that the new algorithm – Equihash – a proof of work algorithm would not give preference to large-scale mining operations. By democratising the mining process, Bitcoin Gold essentially stays true to the original concept of a decentralised, democratised cryptocurrency.
Bitcoin Gold a.k.a. BTG occurred in a block height of 491,407. All of Bitcoin’s transaction history still exists on the Bitcoin Gold blockchain. Adoptees who owned Bitcoin (BTC) prior to the hard fork also own an equal amount of Bitcoin Gold. The new mining algorithm of BTG is ostensibly less prone to ASIC-based optimisation. Bitcoin Gold users can now earn more during their computer cycles. Since BTG is mined on common GPUs, rather than specialised ASICs, many more people around the world can mine Bitcoin Gold and enjoy the rewards. The BTG ecosystem is fast approaching $40 billion in total transactions, with more to come!
How to Trade Bitcoin Gold CFDs in 4 Easy Steps
As a professional trader, you can trade Bitcoin Gold CFDs with confidence at AvaTrade. To get started, you will be required to input your level of experience, for example 1-10, or greater. UK regulations now allow all professional traders to buy and sell Bitcoin Gold CFDs. These steps must be completed during the registration process. In line with current legislation, only professional traders are allowed to trade Bitcoin Gold CFDs.
- Open a professional trading account with AvaTrade UK
- Fund your account
- Fill in your preferred investment amount
- BUY (go long) or SELL (go short) Bitcoin Gold
Why Trade Crypto CFDs With AvaTrade UK?
- Uncompromised Safety – With 7 regulatory authorities and segregated accounts, your money is protected at all times.
- Many Cryptos to Choose From – Trade on the wide variety of cryptos available on our trading platforms.
- No Hidden Fees – We offer 0 commissions and no bank fees on transactions!
- Crypto Never Sleeps – AvaTrade UK is one of the few brokers who offer around-the-clock service and support in 15 languages.
- Generous Leverage – Increase your initial capital with generous leverage and get far more exposure to trade than your account balance. Up to 2:1 (for EU residents) 25:1 (for non-EU residents).
- Limit Your Risk – You can preset profit and loss levels by using stop losses or take profit limits when you trade. Determine the maximum amount you are prepared to risk when speculating on the price, or set a price at which you want to take profits. Future orders like Buy Stops and Buy Limits are also available. Also, use our incredible AvaProtect™ risk management tool to protect your trades from losses.
- Trade Cryptos Against Fiat Currencies – Unlike many exchanges out there, who are restricting their clients to trade only Crypto to Crypto, our clients can trade Cryptos against Fiat currencies (USD, EUR, JPY etc.), as well.
Bitcoin Gold in the markets
Yet another Bitcoin offspring that did not have a very promising start – Immediately after its launch in late October, its website had to force a shutdown after a severe DDOS attack. This battered the Bitcoin Gold price substantially. According to finance leaders CoinMarketCap, Bitcoin Gold started trading at $479 at 20:00 UTC, and by 16:11 UTC it plummeted to $274.44.
This is an extremely volatile asset and continues to dance among the bulls and the bears:
5 Facts you should know about Bitcoin Gold
- This BTG coin was created by Jack Liao, founder of Lightning ASIC (a computer mining firm in Hong Kong). Liao made the project public in July 2017.
- Equihash is Bitcoin Gold’s new protocol. Bitcoin uses Secure Hash Algorithm (SHA-256 bit). BTG will be replaced by PoW algorithm, Equihash, which some say is superior, with vast memory and even faster execution.
- To ensure the safety of the Bitcoin ecosystem, BTG implements unique cryptocurrency wallet addresses and replay protection system – double the protection from hackers and malicious threats.
- Full transparency through a free open-source software project. This project is built by volunteer developers and avid Bitcoin enthusiasts worldwide.
- As Bitcoin Gold uses decentralised mining, it gives ordinary users a fair opportunity to mine with ubiquitous GPUs (Graphic Processing Units).
We Are Here to Help You Trade Bitcoin Gold
AvaTrade UK offers you the opportunity to BUY (go long) or SELL (go short) on all Bitcoin Gold trades, so you can use your preferred trading strategies regardless of which way the currency is moving.
Due to price fluctuation, certain crypto pairs may be suspended and/or removed from our trading platforms periodically.
When trading with AvaTrade UK you are trading on the price changes of the digital coin, and not physically purchasing it.
The maximum accumulated position size for Bitcoin Gold is $50,000 notional value, details in our Conditions and Charges page.
Bitcoin Gold FAQ
- Where can I trade Bitcoin Gold?
There are many online exchanges where you can trade for Bitcoin Gold, but these cryptocurrency exchanges are unregulated and pose the danger of losing your cryptocurrency coins either through hacking attacks or by simply entering a receiving address incorrectly. Those who aren’t technically savvy will probably prefer to trade on Bitcoin Gold CFDs at AvaTrade. When you’re trading CFDs you don’t have to worry about losing coins or having them stolen from you. You are trading just on the price change of the Bitcoin Gold, which is a far simpler process.
- Is Bitcoin Gold related to physical gold?
Despite the name, there is absolutely no relationship between Bitcoin Gold and real physical gold. Instead Bitcoin Gold took its name to denote that it is a better or more valuable offshoot of the original Bitcoin. If you are interested in cryptocurrencies based on gold those are available too, but not from AvaTrade yet. However, we do offer trading in CFDs of actual gold, so if you are looking for a place to trade on gold you’ve found it here at AvaTrade. And you can trade Bitcoin Gold too if that’s what you prefer.
- What is Bitcoin Gold used for?
Bitcoin Gold was created as a fork of the original Bitcoin. That’s when a code change is made so that the blockchain is no longer backward compatible, creating what is in essence a new blockchain from an existing blockchain. In the case of Bitcoin Gold the intention was to decentralize mining and to create a transactional cryptocurrency that is faster and more secure. Anyone holding Bitcoin when Bitcoin Gold was forked off the original blockchain was eligible to receive an amount of Bitcoin Gold equal to their Bitcoin holdings.