Which Wallet Does Support Bitcoin Gold?

Which are the best wallets for Bitcoin Gold?

With the technological breakthrough, everything today is moving towards a digital eco-system at a fast pace. Everything is turning paperless and going digital. Same is the case for the economy. The most promising addition to this sector is Cryptocurrency.

Definition | Cryptocurrency

A cryptocurrency or digital currency is simply a medium of exchange like local or fiat currencies. It uses the method of cryptography to secure financial transactions, control additional units’ creation, and validate the transfer of the assets of a user. Cryptocurrencies are not controlled by a decentralized network of users and are not subject to the whims of government or central authority. Moreover, the cryptocurrency is not issued by a central authority hence, the government cannot take it away from you.

Today, we have hundreds of cryptocurrencies that are in use such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Bitcoin Gold. By far, Bitcoin is the most popular and widely used cryptocurrency that gave rise to the other digital coins and altcoins.

Why digital currencies are quickly gaining the public eye? Some of the compelling reasons are that they are easy to use, decentralized, can be used internationally, offer low operational fees as well as fast transactions, transparent, anonymous and highly secured.

In this blog, we are going to get familiar with one of the popular cryptocurrency i.e. Bitcoin Gold and some of the safe wallets for Bitcoin Gold.

Bitcoin Gold | For everyone | For everything

Cryptocurrency forks have become quite common. One of the biggest bitcoin forks that took place in October 2017 is Bitcoin Gold. The key reason behind the launch of Bitcoin gold has been to make bitcoin decentralized again.

In fact, it is aimed to be more decentralized than Bitcoin. The main difference between Bitcoin and Bitcoin Gold is the use of the Equilash hash algorithm instead of SHA 256 to prevent Bitcoin Gold mining. Just like Bitcoin Cash, Bitcoin gold forked off from the Bitcoin in October of 2017. Now that the currency is becoming more and more popular, let us take a look at a few of the best Bitcoin Gold wallets.

Bitcoin Gold | Wallets

Listed below are some of the best wallets you can find in the crypto sphere for your Bitcoin Gold. Check them out.

  • Trezor
    Trezor is a well-known and the most secure wallet for the cryptocurrency enthusiasts. For anyone who wants to store their crypto offline, Trezor is the best choice. The wallet provides protection against keyloggers. Trezor does this by creating a randomized PIN code every time you wish to access your wallet. It displays the code on the LED screen of the device, so it’s revealed only to the owner.
  • Ledger Nano S
    Ledger Nano S is the most popular hardware wallet right now. It looks like a USB drive which features a built-in screen and transaction confirmation buttons. It is a simple and secure platform that allows you to control your private keys/seed. Hence, you yourself are in charge of your funds. Just plug it into the USB port to access your crypto holdings.Its main feature is the small LED screen built into the device which provides additional protection whenever you display your private keys.
  • Exodus
    Apart from Bitcoin Gold, Exodus supports more than 30 other cryptocurrencies. A desktop wallet, Exodus is free to download and mainly designed for people who are beginning in crypto. The interface avoids the use of technical jargon and is a user-friendly wallet.No ID verification is required to begin with Exodus.
  • Bitcoin Gold Core
    You should have guessed by the name that the Bitcoin Gold Core wallet is the official full-node wallet of Bitcoin Gold. It lets you store, send, receive and even mine your digital coins (BTG). You even store your private keys on your computer.It is a secure storage option through which you can manage and control your BTG holdings. Presently, it is one of the best bitcoin gold wallets online.

Some of the other best bitcoin gold wallets are Atomic BTG wallet, Coinomi, Guarda, Ledger Nano X and Freewallet.

Please note that the information is solely based on research and reviews. We kindly recommend the users to understand their requirement and conduct their own research before taking off.

Key parameters to look for in a Bitcoin Gold (BTG) wallet-

If you’re a new admission to the university of crypto, finding the most reliable wallet for your Bitcoin Gold can be overwhelming. Though the above mentioned are the best, the section will assist you in picking the right one. The crypto sphere is littered with different types of wallets, so make sure you look for the listed key features whilst finding the perfect BTG wallet choices:

Security: The most paramount feature for crypto enthusiasts is the security of its digital coins. The most reliable wallets in terms of security are the hardware wallets. These USB-style wallets store your private keys offline. Regardless of this, look for other security features like two-factor authentication and easy-to-use backup facility.

Transparency: Make sure to find out everything about the company behind the wallet you are thinking to use. Check for whether the company had any security or customer service breaches or not.

User experience: Managing cryptocurrencies can be daunting as well as confusing. To save yourself from hassles or complications, pick a wallet that is easy to use, comprehend and access.

Private-key ownership: Some of the wallets do not allow you to retain ownership of your private keys. This leaves your coins vulnerable and open to threat. Choose a wallet that doesn’t require you to put your private keys in the hands of a third party.

Blockchain | Everything You Need To Know

Everything About Blockchain & Blockchain Wallets

The evolution and rise of cryptocurrencies or digital currencies and related activities are changing an array of industries such as finance, healthcare, and many more with the speed of light. Cryptocurrencies are causing a spur with their skyrocketing value. And due to this, the demand for a safe, secure and reputable wallet is also escalating.

Blockchain wallet is one such wallet that meets the criteria of the best cryptocurrency wallet. Most of the people are doubtful about how exactly these blockchain wallets should work, how secured transactions are, how they store digital currencies and so on. The following blog shares insights about Blockchain, Blockchain wallets and its related aspects (How does it work, security, development, etc). 

What is blockchain? A brief look.

In the most simple terms, blockchain is a chain of blocks. The ‘blocks’ are the digital information whereas the ‘chain’ is the public database. The blocks in the blockchain are made up of digital pieces of information which are stored in a public database. Specifically, they consist of three parts:

  1. Blocks have all the information about the transactions (like date, time, and amount).
  2. Blocks consist of all the information of the user participating in transactions. Your purchase does not use your actual name but using a unique ‘digital signature’, like a username.
  3. Each block stores different information that distinguishes them from other blocks. The block stores a unique code known as ‘hash’ that separates it from every other block. Though the details of each transaction are nearly identical but can be identified as a separate because of their unique codes.

When a block stores new data, it is added to the blockchain and it becomes available for anyone to view. On the whole, Blockchain tries to improve information security as well as transparency by sharing encrypted data amid peer-to-peer (P2P) networks.

What are Blockchain Wallets?

A Blockchain wallet is a software program that allows users to buy, sell, and monitor their digital currency (or assets or cryptocurrencies). If you are ardently into cryptocurrency exchange, then you must use a Blockchain wallet. Blockchain offers different types of wallets that are discussed in the next section.
Blockchain wallets keep a record of all the transactions (sell, buy, exchange) related to the cryptocurrency and store them on Blockchain. 

How do Blockchain Wallets work?

Public and private keys (non-identical pairs of large numbers in which one key can be shared with anyone and the other is kept a secret) are stored in a cryptocurrency wallet for the transaction. This wallet interacts with various Blockchains to confirm or accept a transaction, thus enabling users to purchase or sell one or more than one cryptocurrencies.

A blockchain wallet is widely recognized and preferred due to its best in class security. It makes sure that your crypto is fully secured giving you full control, backs up your funds, and protects them from unauthorized access. You become your own bank with the blockchain wallet.

What are the types of blockchain wallets?

Basically, there are three types of cryptocurrency wallets which store and reflect a transaction on the Blockchain.

1. Software Wallets
These wallets can be downloaded on a device or can be accessed online. Further, these wallets are categorized into three types depending upon the type of device. They are as follows-

Desktop: You can download these wallets on a PC or a laptop. This can only be accessed from the system they are installed on. They are a safe choice given that your system stays protected against virus attacks. 

Online: These wallets run on the cloud and hence you have the advantage of accessing them from any device through a web browser. However, since the private keys for a transaction in these wallets are saved online and controlled by the third-party, it becomes a vulnerable option to pick them.

Mobile: Mobile wallets are available as a mobile application making them accessible anytime and anywhere. Also, the ability to scan QR codes offers easier and faster transactions. It is the most popular choice amongst the three software wallet categories.

  1. Hardware Wallets
    Hardware wallets keep private keys of the users on a hardware device. The hardware wallets are compatible with various web interfaces and offering support to multiple cryptocurrencies. In order to use them, you need to connect them to any internet-enabled device, enter the pin, and confirm. Hardware wallets store all currencies offline and hence, are the securest wallet options available.
  2. Paper Wallets
    The public and private keys are generated with a software application and then printed to make a transaction in the paper wallets. To buy and sell assets, paper wallets generally work with software wallets. The assets are transferred from software wallets to a public address on paper.
    To unlock the funds, the cryptocurrencies are transferred from paper to software wallet. You can either scan the QR code or add the keys manually. 

While, in the crypto sphere, there is no such thing as 100% secure. All you need to adopt is adequate security measures, pick any of the three software wallets and sit back and relax. Moreover, the number of cryptocurrencies is growing at a fast rate. If you are dealing with multiple currencies for receiving or transferring funds, there is no need to have a separate wallet for every currency. It will be daunting to handle so many wallets. It is highly recommended to go for a multi-currency wallet which is a better and flexible choice.  
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