In this booming era of cryptocurrency, the market is now completely acquired by paper currency alternatives including Bitcoin, Ethereum, and Litecoin. A new digital currency is on the charts nowadays, known as Bitcoin Gold.
For those who are looking to get Bitcoins in return for Bitcoin Gold, online services such as Godex.io allow users to convert BTG to BTC easily. The service works 24/7 and is trusted by a number of users on the internet.
In this post, we will be discussing Bitcoin Gold in brief detail, how it is mined, and how you can convert your Bitcoin Gold to Bitcoins conveniently.
What is Bitcoin Gold
Before we can define what BTG is, you may want to know some things about Bitcoin. Bitcoin is a digital form of currency that can be used to carry quick peer-to-peer transactions online. The price of 1 BTC is around 23,000 USD at the moment.
Of course, the price rises and falls frequently during the day. This is why some people say that Bitcoin is much more volatile than any other form of currency.
How is Bitcoin and Bitcoin Gold Mined
Bitcoin mining is done using powerful hardware such as GPU (Graphics Processing Unit) or ASIC (Application-specific Integrated Circuit). While mining, bitcoin is awarded to those who find solutions to complex hashing puzzles first.
The probability of finding a bitcoin during mining depends on the portion of the total mining power that you own on the network. This makes it obvious that not everyone can mine Bitcoins because of the heavy demands and prerequisites required for the process.
On the other hand, Bitcoin Gold is an improved version of bitcoin that is mined using system pools collectively. The pools consist of numerous computers that process terabytes of information around the clock.
This allows even individual users to mine Bitcoin Gold because of this slight change in the mining process. Right now, the value of 1 BTG is equal to 0.0029839 BTC.
As Bitcoin Gold is the latest and has yet to see its growth curve, not every wallet supports storing BTG. Although there are many wallets that do support it. Bitcoin Gold has potential for sure and the success curve of Bitcoin will be repeated in the future if people start using it.
How to Convert BTG to BTC
As we mentioned above, you can easily convert your Bitcoin Gold currency to bitcoins using services available on the internet. One such service is Godex.io BTG to BTC converter. Anyone can use it for free and the best part – it is available 24/7.
Just follow the steps given below to convert your BTG to Bitcoins in an instant.
- Head over to the official Godex.io Bitcoin Gold to BTC converter webpage.
- Enter the amount in Bitcoin Gold that you would like to convert with this service. The minimum amount that you can convert is 11.9 Bitcoin Gold.
- On the right-hand side, you will be able to see the value of the BTG you entered in BTC.
- Enter the Bitcoin wallet address where you’d like to get the payment.
- Click on Exchange.
- You will be presented with a Deposit Address and a QR code that you can scan to. Transfer the amount of BTG you entered to the Deposit address provided.
- The transaction will be confirmed by Godex.io. As soon as the transaction is confirmed, the BTC amount equivalent to BTG will be sent to the Bitcoin wallet address you specified.
That’s how you can easily convert your BTG to BTC using Godex.io.
So that was our take on How to convert Bitcoin Gold to Bitcoin. There are many online services that allow the conversion but the one that stands out the most is Godex.io.
Godex.io is completely free to use and is available 24/7 for everyone. Just head over to the webpage, enter the BTG amount, enter your Bitcoin wallet address, and transfer the BTG to the address that is provided to you. As soon as the transaction is verified, Godex.io will send you the amount in Bitcoins quickly.