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How to retrieve Bitcoin Gold from Electrum?

What is Bitcoin Gold?

Bitcoin gold has been created as an outcome of a hard fork of the actual open-source cryptocurrency which landed on Oct 24, 2017. The hard forks exist for many reasons which include -

  • Scaling of crypto customer base growth
  • Overcoming conflicts of a developer based on their opinions and goals.

The major objective of Best Bitcoin gold is to make them “decentralized again”.

Note: Hard Fork is related to blockchain technology, basically it is a change in a network that makes the previous invalid transactions or blocks a valid one.

The reason behind why the urge of Bitcoin came into existence was due to its mining process. Its originator believed that this new algorithm for BTG mining pool is the world’s famous Cryptocurrency, by its market cap. It requires special and expensive equipment

Things to be kept in mind while purchasing the Bitcoin Gold wallet?

For every new Cryptoconsumer, selecting a wallet for BTG always seems to be overwhelming. There are many Bitcoin Gold wallets available in the market. It is always your prime duty to keep an eye upon its pros & cons and its features before investing upon it. Key points to be kept in mind before purchasing it.

  • Surveillance:

For every new Crypto trader, it is important to store their cryptocurrency in a secure place. Regardless, of any type of wallet chosen by you should always have two-factor authentication and easy backup facility.

  • Transient:

It is always important to check the history of the company of the wallet you are about to use. Prior research on the services provided by the company is a must. The best way to trace them is by checking their Customer base relationship with the company.

  • User Behaviour:

Cryptocurrencies are always complicated and difficult to handle. Holding its handle can always be a confusing task. A wallet that is easy to use, access and understand along with its user-friendly interface is great for the crypto consumer.

Top Best Bitcoin Gold wallet.

1. Bitcoin Gold core

  • It is an official full mode wallet of digital currency.
  • Handles private keys on a computer
  • Available for Linux, Windows, and Mac iOS
  • Best online Bitcoin Gold wallet

2. Exodus

  • Stores variety of Cryptocurrencies mainly bitcoin gold
  • Free to download.
  • Avoids use of technical language.
  • User-friendly for beginners in crypto.

3. Free wallet

  • First wallet developer to announce full support bitcoin gold
  • Available in both iOS and Android
  • Smoothly exchanges the coins with others in a couple of taps
  • Best Bitcoin Gold wallet for iOS.

What is Electrum?

It is a very famous Bitcoin wallet which consists of all the Bitcoin addresses into it. It is fast and easy to use. It has multiple user interfaces like Android, iOS, and Linux. No single entity controls its network. It supports hardware wallets like Trezor, Ledger, Keepkay.

Warning- Older versions of the Electrum wallet can be used for phishing purposes so be very cautious while using the Electrum wallet and keep note if its version.

Ways to extract Bitcoin Gold from Electrum.

  • Open your Electrum wallet, and select your view menu and click to show address.
  • Then, play with your filter in order to find your address which has your Bitcoin Fork date ie 12 November.
  • Follow the further procedure now:
  1. Firstly, right-click on your address and choose your private keys.
  2. If your wallet is encrypted then enter your wallet password in it. Then your private keys will be accessible.
  3. Hit the QR code shown below at the bottom of your screen.
  4. Install your Android app named Coinomi through this you can get hold of your Bitcoin gold.
  5. Keep on repeating this entire process for each of your addresses in Electrum.

Wrapping up:

After taking a glance from the above information now, the concept of what is Bitcoin gold? And what is the Best Bitcoin gold wallet? Along with what is various types of Bitcoin wallets. Concepts about them must have got cleared. Most importantly, you must have acknowledged how one can get hold of their Bitcoin gold if it gets stuck in your Electrum wallet and how you can retrieve from it.