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We live in the world of cryptocurrency trading and believe it or not, it would be foolish of you not to give the market a chance. The new generation of technological advances make it easy to everyone to profit, and all you need to do is actually get acquainted with the main players on the market and invest wisely and according to a well developed plan, through a regulated broker. With the changing world and nature of Bitcoin, more and more people are looking into other viable options for investment that would be safer for their money, and Bitcoin Gold actually distinguishes itself as being among the more viable options lately.
What’s Bitcoin Gold and why is it important
Like so many of the new cryptocurrencies appearing on the market today, Bitcoin Gold was created through a fork from the main chain. The fork occurred on 24 October 2017, which makes Bitcoin Gold one of the new and exciting players on the market. It all happened at block height 491407.
There are a few vital differences between Bitcoin Gold (BTG) and the original Bitcoin is that BTG uses SHA-256 proof-of-work algorithm to the Equihash ASIC-resistant algorithm – originally used by Zcash, which allows for faster mining – approximately 8,000 blocks at 12.5 BTG per block.
Naturally, there were a few controversies and concerns in the community, mainly related to potential fees that could have been imposed on transactions. The thing is that every new token that appears on the market these days comes into a lot of scrutiny, which is actually a good thing. When it comes to proof-of-work, open source algorithms, it falls into the hands of users to detect potential treats and scams, and eliminate the risk, so everyone involved in the trade with the certain coin, Bitcoin Gold in this particular case, is safe from harm. Since BTG is a relatively new cryptocurrency, it is more than certain that the in the future the technology will become better and better. Open thing is certain, at the present moment Bitcoin Gold is a viable and very promising alternative to the original Bitcoin.
This is how you decide whether a broker is worth it
The main factors to be weighed in when deciding on the viability of a certain broker or a trading platform include:
- Regulation – the most important one, because a regulated broker means that it is checked for scams and the results are negative.
- Client support – since the cryptocurrency market operates around the clock, your broker/platform needs to offer 24/7 client support service as well
- Tradable assets – the more tokens the platform offers, the better
- Liquidity – this one determines how fast you can cash out or transfer your assets from one cryptocurrency to another while trading and can make all the difference when you want to optimise your profits
- Account types – when a broker offers multiple account options, it is usually suitable for both newcomers to the world of cryptocurrency trade and hardened traders who have extensive experience in the field. It shows professionalism as well.