BCH or Bitcoin Cash and BTG or Bitcoin Gold are part of the Bitcoin blockchain. Developers are always concerned about Bitcoin’s accessibility, mining speed, and, most importantly, security. They had different ideas regarding this.
But, they are unable to reach an agreement. That is when the forks have been created. These are new cryptocurrencies but with the same goals and strategies.
Before coming to these two cryptocurrencies, you should know the strategies to make the best profit from cryptocurrencies. You should try crypto arbitrage for the best profits.
Bitcoin Cash
Bitcoin Cash was introduced to transact cryptocurrency. It was not designed to give rewards. The main intention was to make transactions without regulations. People can make international transactions as well. And the transactions happen within seconds.
In the year 2018, Bitcoin Cash split into two different currencies. The first one is Bitcoin Cash, and the second one is Bitcoin SV.
Bitcoin Gold
The main purpose of making Bitcoin Gold was to stop certain groups from controlling Bitcoin. After every industry was into Bitcoin mining with expensive mining rigs, Bitcoin mining became slow. So, for normal people, it became hard to mine Bitcoin.
Bitcoin Gold is the new path for digital mining. Bitcoin Gold mining needs regular computers with dedicated graphics cards. For normal people, it is an opportunity to mine Bitcoin Gold with their computers.
Bitcoin Cash And Bitcoin Gold: Different Features
Although the source of these two cryptocurrencies is the same, there are a lot of different features.
1. Hashing Function
Bitcoin Cash uses the SHA-256 mining algorithm, and Bitcoin Gold uses the Quihash mining algorithm.
2. Mining
ASIC miners can mine Bitcoin Cash. But they can not mine Bitcoin Gold.
3. Protocol
These two cryptocurrencies use different protocols. Bitcoin Cash uses SecureSigs and Bitcoin Gold uses SegWit.
4. Where To Find
Bitcoin Cash can be found in almost every popular exchange, but only a few exchanges have Bitcoin Gold.
5. Total Supply
There are a total of 19 million Bitcoin Cash in circulation. On the other hand, Bitcoin Gold has 17.5 million in circulation.
Bitcoin Cash And Bitcoin Gold: How To Mine
You can mine both cryptocurrencies. If you are an ASIC miner, then you are able to mine Bitcoin Cash. But you should know that ASIC mining is too fast for average miners.
If you have a regular computer, then ASIC mining is not compatible with that regular mining. So, you need expensive machines to mine BCH. If you can not afford those expensive machines, then there is only one way left. You need to buy BCH from a cryptocurrency exchange.
On the other hand, Bitcoin Gold doesn’t need any expensive machines. You can mine Bitcoin Gold with your personal computer. But the computer needs mining software and a modern graphics card. But, if you think that ASIC miners can mine Bitcoin Gold easily, that is not true.
The Equihash mining algorithm will make it difficult to solve the hash. But if you want to mine both BCH and BTG, then you need to join a mining pool. Through that, you can make your choice. There are different mining contributions, fees, and different pools, you need to choose wisely.
Bitcoin Cash And Bitcoin Gold: How To Buy
Both of these cryptocurrencies are quite famous in the crypto community. For example, you can find Bitcoin Gold on several centralized exchanges. And, if you want to buy BTG from decentralized cryptocurrency, you will find it in HitBTC, Bitfinex, and other platforms as well. But there are some restrictions if you are a US citizen.
You can find Bitcoin Cash on exchanges between Kraken, BinanceUS, Coinbase, FTX US, Gemini, and many more. Cryptocurrency is volatile, so that the prices can change anytime.
So, if you want to day trade, then FTX US is one of the best platforms to do that. The prices fluctuate quickly. On the other hand, if you want to buy and hold your cryptocurrency for a long time, then Coinbase is a good choice.
Do not get confused between these two and moon Bitcoin. This cryptocurrency has no relation to Bitcoin. Although it is not a bad investment, you still need to know the basics.
Bitcoin Cash And Bitcoin Gold: Should I Invest
For me, both cryptocurrencies are credible and trustworthy. Also, blockchain technology is similar to Bitcoin. And there is no unlimited supply of these two cryptocurrencies. So, you can see that the prices of these two cryptocurrencies can not decrease significantly.
Now, the question is should you buy those or not? From my perspective, yes, you can either buy them or mine them. I can’t predict how much you can make, but I can say that you will surely be in profit.
To Conclude
I think that is all about Bitcoin Cash and Bitcoin Gold. If you still have any queries, feel free to ask in the comment section below
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