5 Reasons to Buy Bitcoin Gold (BTG) While it’s Down
Choosing a digital asset to invest in, purchase for trade or HODL becomes a very difficult decision considering the ever-increasing number of cryptocurrencies in the market (1994 as at the time of this writing) the uniqueness of each project, and the highly unstable nature of the crypto market.
Bitcoin Gold (BTG) doesn’t attract as much attention as its siblings forked from the Bitcoin blockchain, however, it is an altcoin worth a consideration for possible investments.
Many factors come into play when investing in a digital asset, today we have come up with 5 reasons why you should consider investing in Bitcoin Gold today:
1. Current Price of Bitcoin Gold (BTG)
The last few months may go down in the record books as the gloomiest in the history of the market, as prices of assets dink with every passing hour, and Bitcoin Gold (BTG) is no exception.
As at the time of this writing, Bitcoin Gold is trading at $33.17 due to a price drop of 3% over the last 24 hours.
The current price of BTG makes the purchase of the digital asset seem like a steal. 30 days ago, the coin was valued at around $59, and well over $100 in the preceding months.
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.
Buying and HODLing Bitcoin Gold (BTG) now is going to be very profitable in the future. When the crypto market resumes its bull run (which it always does) we could see Bitcoin Gold (BTG) ascend in value, and perhaps scale the $100 mark and reclaim its position high up the crypto ranking.
2. Current Supply of Bitcoin Gold (BCG)
Bitcoin Gold has succeeded in keeping the supply of the BCG coin in check, as at the time of this writing, a total of 17,069,561 BCG coins are in circulation.
Coins with unchecked supply, in the long run, will not be able to function effectively as ‘money’ (a digital asset must be scarce to function effectively as money).
3. Transparency of the BCG Network
The Bitcoin Gold network was forked from the Bitcoin network which is popularly touted as the most secure and transparent blockchain.
Ever since its fork in October 2017, Bitcoin Gold has performed other smaller scaled forks to ensure that the network remains one of the most secure and transparent ones.
4. Bitcoin Gold has its Exchange Listings Right
Another major area where Bitcoin Gold has excelled is in exchange listings. Some major cryptos are not able to hit mainstream adoption because of poor exchange listings.
Exchange listings also increase liquidity ratios and diversify platforms users of a coin can trade. As at the time of this writing, BTG is listed on over 30 digital exchange platforms, including Binance, Bittrex, and Bitfinex.
5. Bitcoin Gold Democratizes Mining
While Mining Bitcoin is undoubtedly lucrative, it is plagued with the issue of being resource intensive.
One of the major reasons Bitcoin Gold was forked from Bitcoin’s blockchain is to put an end to this problem. Bitcoin Gold is popularly flaunted as the most lucrative digital asset to be mined in the cryptoverse.
The algorithm developed by Bitcoin Gold (and the ones to be developed) makes the mining process runs at almost the same speed on different devices, which means rewards from mining pools are not that different. And miners do not have to spend heavily before mining BCG.