In the second half of 2017, a new terminology “Forks” started going around the cryptocurrency market and was getting a lot of attention. Forks are basically conducted to create an improved version of coins from a popular cryptocurrency. Bitcoin has got several successful forks like Bitcoin Gold (BTG) which was conducted in October 2017.
The main purpose of BTG fork was to cut the dependency on ASIC and large miners to mine the coins. Bitcoin Gold uses a completely different algorithm “Equilash” that utilizes more RAM power than processing power of CPU or GPU to mine the coins and is available to a much wider range of miners.
The BTG fork happened on block 491407 on 24th Oct. 2017. All holders of the BTC back then were entitled to BTG in the equal ratio but the credit of all BTG coins back then was not processed because all exchanges didn’t support the hard fork and not credited the new coins to the wallets of their users. Also, till now there is no convenient option available to claim the free BTG coins. In this article, we will discuss on how to claim it and even exchange BTG for BTC conveniently.
Until recently, there was no browser version of wallet available for Bitcoin Gold, one had to either download software wallet or mobile wallet. btgonline.io is a browser wallet, that lets users receive free BTG coin after the fork and also allows them to exchange it. If you have not received your free BTG coins, then this article is for you. We will guide you step by step in this article to receive your free BTG coins.
You can easily get access to free BTG coins if you have possessed BTC in your wallet at fork start using the passphrase or private key for it. It is advised to transfer all your coins to any of your other wallets during this process and always use an empty wallet to receive such free coins.
- On the website, we will start with the authorization to the wallet in the middle tab “Send/Receive Bitcoin Gold”;
- From the drop-down menu, we will select the wallet type where you held Bitcoin at fork start. For eg: Blockchain.info, Electrum, WIF Private Key;
- In the next field, enter the passphrase which is usually consists of 12, 18 or 24 English words. In case, you have selected WIF Private Key, instead of the passphrase you will be asked for the private key;
- Click the “Next” button and you will already find your BTG coin balance received from hard fork.
By completing four easy steps, you can receive your BTG Coin. btgonline.io also facilitate the exchange of BTG coins to BTC at a fair rate. In order to exchange BTG coins to BTC, we will select “Exchange BTG to BTC” tab and will repeat the whole process as discussed in the earlier part. After clicking “Next” button, select the commission type and specify the address where you want to get BTC. When you click “Send” button, your BTG coins will be converted and credited to the specified wallet.
Creating a BTG wallet is also a simple operation on btgonline.io. By selecting the tab “Create wallet” and clicking the orange “Generate” button you will instantly receive all data you need to use a new wallet.
BTGonline.io is the best available option to receive your free BTG coins from the Bitcoin hard fork within a minute. With convenient interface and opportunity to exchange BTG to BTC, it makes the whole process of wallet control and making transactions quite easy even for beginners, because all operations are directly performed in the browser, without syncing up to software wallet and installing applications for local wallets.
Also, if you’re planning to use BTG as a currency, BTGonline.io is the most suitable online wallet for it.