Bitcoin uses peer-to-peer technology to operate transactions with no involvement of central authority or banks. This is a relatively new currency and has developed at a very fast rate from 2010. There are many ways to make money with Bitcoin such as mining, speculation or running new businesses.
Bitcoin is being moved to Bitcoin Gold (BTG) so enrich the value of Bitcoin. This is done by changing the centralization of the currency through a proof of work change. Now, users can get back to mining with help of their CPU’s and GPU’s.
How to make money with BTG
There are different ways to earn BTG, however the most popular ones that come to mind are mining and speculation. Both requiring time and resources, mining tends to show more promise as BTG is new in market and volatile – making speculation, a riskier option.
Unlike earlier, mining using a CPU at home may not be appropriate as the algorithm of the blocks have become much more complex than earlier. Now, users are resorting to “pools” where they have better chances at success in mining.
Minergate
- Many reviews and experiences as shared by users in different forums suggest that mining Bitcoin Gold with Minergate has been more promising than other pools. Here are a few advantages:
- By joining the pool, you are mining all the time and thereby can tap at the fluctuating highest exchange rate and squeeze more profit.
- Cloud mining enhances process as it has more resources and technology than what a traditional mining with CPU can offer.
- It is one of highest pools with over 1773630 users which will be mining along with you.
- Minergate focuses on two approaches, Hold and Spend. This alternating approach makes the mining, less risky.
Few things to remember in mining Bitcoin Gold:
- BTG is very volatile and users should always remember to take profits.
- Always keep Capital separate from Assets
- Do not over Invest. Always invest only what you can afford to lose.
- Keep a realistic goal for Holding Assets and Spending your Capital.
- Diversify your investments in different assets so that you have at least four to five assets to build on at any given time and reduce the risk factor.
Conclusion
There is no fail safe strategy to mine Bitcoin gold. However the decision to mine Bitcoin gold with MinerGate has its advantages with the Technology, Know-how and Experience that they have to offer.
Eventually, the idea is to earn money with minimum risk and greater returns. The user has to diligently exercise his exercise his options and keep a look out for the news and market swings.
