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. Call us Now! – 18669060703
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 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.
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.