How To Quickly Sell Your Airdropped Bitcoin Gold - In Four Easy Steps

in #bitcoingold • 6 years ago

In this tutorial I will show you how you can easily and quickly sell Bitcoin Gold that you have got airdropped after the hardfork.

I assume that you have got some amount of Bitcoin stored in a wallet of which you hold the private keys at the time of the fork.

You want to get hold of your Bitcoin Gold and sell it as soon as possible to cash it out while it still has some worth.

image.png

The Gist

You will need:

  • access to the private keys of your Bitcoin wallets
  • Coinomi app
  • access to HitBTC exchange
  • this tutorial

0. Hardfork Time

The Bitcoin Gold hardfork has happened on October 24th 2017 at around 6 AM UTC at the block height of 491407.

If you had at that time any amount of the Bitcoin in any of your wallets then you can get hold of the equivalent amount of Bitcoin Gold.

If you hold the private keys to these wallets then BTG is within your reach.

Let's see how you can drop it without any fuss.

1. Create Bitcoin Gold local wallet

There aren't many wallets that support BTG. I found it easiest to install Coinomi app on your Android or iPhone device.

Go ahead. Download and install the wallet. It is a straightforward process.

After the installation is completed enable the wallet for dealing with Bitcoin Gold.

In the menu tap on + COINS and choose Bitcoin Gold.

2. Sweep your BTC wallets into BTG on Coinomi

Now you can sweep your Bitcoin wallets into Coinomi. This will actually enable the wallet to see and store BTG. You BTC will remain untouched!

You can do that even if you don't have BTC in these wallets any longer. As long as you've held the BTC at the time of the fork you can import them.

In Coinomi Overview page tap on BitcoinGold icon, choose upper right menu icon, choose Sweep wallet, enter or scan private key, tap NEXT and you're done.

The wallet now shows your BTG. Congratulations!

3. Transfer BTG to an exchange

This was actually the hardest part of the whole procedure. The challenge was to find the exchange which supports BTG deposit.

I started from Coinmarket's list of exchanges and tried the ones with decent prices and BTG/BTC trade pair supported.

I didn't have any luck with:

Fourth time lucky on HitBTC

Finally, I was successful with HitBTC.
image.png

Go ahead and register if you don't already have an account with them.

Then open Coinomi again and transfer you BTG from local wallet to HitBTC.

The transaction itself took around 10 minutes to complete. However, there was an additional lag for the amount to be actually available for trading on HitBTC. This lasted around fifty minutes.

Anyways, within an hour you are ready to trade your BTG.

image.png

4. Sell your BTG and run away with BTC

The last step is the easiest. On HitBTC transfer BTG from the main account to trading account .

Go to BTG/BTC trading page and sell it whichever way you like.

I did play a bit with prices but it doesn't really matter. The focus here is on dropping BTG and not on margin trading.

After several minutes I've had my BTC and was left with peanuts in BTG.

Now you can leave the BTC on the exchange or run away with it. I transferred it to my local wallet immediately.

image.png

A success!

As you can see I got away with approximately 2.6% of original BTC value. Well, it is better than nothing.

At the time of concluding this tutorial Bitcoin Gold price on HitBTC has fallen another 20%. I don't believe that it will recover anytime soon if ever.

I do hope that you will find this tutorial useful. Feel free to ask me any questions about the whole procedure.

And share the article, please. Resteem, repost, share on your favorite social media. Help others to profit from this airdrop. Thank you!

Disclaimer
Images used in this article are screenshots from the respective websites.
You transfer and trade your crypto assets at your own risk.

#bitcoin #hardfork #busy #teamslovenia
6 years ago in #bitcoingold by
$3.08
  • Promotion Cost $1.00
  • Past Payouts $3.08, 0.00 TRX
  • - Author $2.58, 0.00 TRX
  • - Curators $0.51, 0.00 TRX
48 votes
Reply 26
Sort:  
  • Trending
    • [-]
     6 years ago 

    @cryptohustlin has voted on behalf of @minnowpond.
    If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

                To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo
            To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo
            To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memo
    $0.00
      Reply
      [-]
       6 years ago 

      Great and interesting post. You have a lot of awesome posts, but this is by far one of your best ones man. I needed this one today! Thanks.

      $0.00
        Reply
        [-]
         6 years ago 

        Waw, this is such a wonderful compliment. I am humbled by your words. Thank you a million.

        $0.00
          Reply
          [-]
           6 years ago 

          Shared on Twitter.

          $0.00
            Reply
            [-]
             6 years ago 

            ErvinLemark Ervin Lemark tweeted @ 14 Nov 2017 - 23:29 UTC

            How To Quickly Sell Your Airdropped Bitcoin Gold - In Four Easy Steps

            steemit.com/bitcoingold/@e… / https://t.co/xCbfY8vz9W

            @steemit #BitcoinGold #BTG #bitcoin #hitbtc

            Disclaimer: I am just a bot trying to be helpful.
            $0.00
              Reply
              [-]
               6 years ago 

              did you have verify your account on hitbtc to ask a widthdraw in btc in your external wallet please ?

              $0.00
                Reply
                [-]
                 6 years ago 

                No. You don't have to verify for small amounts.I am on a general level:

                [-]
                 6 years ago (edited)

                finally i succeed in get and sold all my BTG, thank you very much for you help !

                $0.00
                  Reply
                  [-]
                   6 years ago 

                  Excellent, congratulations!

                  Have a great day.

                  $0.00
                    Reply
                    [-]
                     6 years ago 

                    The browser wallet for claiming BTG given on the official Bitcoingold.org website https://mybtgwallet.com/ does not seem to work. Looks like coinomi is the best bet.

                    Also, Yobit prices are insane, almost 50% more than HitBTC! Too bad they don't allow deposits yet.

                    $0.00
                      Reply
                      [-]
                       6 years ago 

                      use coinomi with the method of ervin lemark is better secure ! if you have ios and not android you can install an emulation with android or use the android phone of a friend. Good luck

                      [-]
                       6 years ago 

                      Planning to do this soon with coinomi. The problem is that i am still transferring the previous bitcoins out of the wallet, where confirmation is taking very long due to the bitcoin network congestion.

                      I Will only claim the bitcoin gold once the original bitcoin wallet is empty. it's not worth the risk with such a low BTG to BTC exchange rate, although I suspect it to rise to at least 0.7 BTC before the end of the year.

                      $0.00
                        Reply
                        [-]
                         6 years ago 

                        BTW, here is the claim that BTG has implemented replay protection. I do hope that we can trust them.
                        https://www.reddit.com/r/TREZOR/comments/7cwd6x/key_facts_concerning_replay_protection/

                        [-]
                         6 years ago 

                        Good for you and good luck with transactions. I hope that they confirm as soon as possible.

                        [-]
                         6 years ago 

                        yes insane but deposit is available, so sad

                        [-]
                         6 years ago 

                        It is insane because deposits don't work.

                        The second that they enable deposits the price will drop like rock.

                        $0.00
                          Reply
                          [-]
                           6 years ago 

                          please tell me which is best btc or bgt.

                          $0.00
                            Reply
                            [-]
                             6 years ago 

                            btc is the best but bch is good too

                            and we will see for btg :)

                            [-]
                             6 years ago 

                            I used one of the bitcoin gold wallets officially endorsed by the developers & almost lost all my bitcoins https://steemit.com/bitcoin/@petrmisan/bitcoin-gold-wallet-mybtgwallet-could-steal-your-bitcoin

                            $0.00
                              Reply
                              [-]
                               6 years ago 

                              Thank you very much for letting us know about it. I am glad that it turned out OK for you.

                              So far so good with Coinomi and transactions out of it. My bitcoins are intact.

                              I did use private keys of individual addresses instead of the Electrum wallet seed. This approach seems somewhat safer to me.

                              [-]
                               6 years ago 

                              Yes, greed can sometimes do strange things to my rational judgment. I'm just glad I transferred my bitcoins out first before doing anything with mybtgwallet. The slowness of the bitcoin network is starting to be a major problem.

                              $0.00
                                Reply
                                [-]
                                 6 years ago 

                                They will increase the block size eventually. They have too!

                                Coin Marketplace

                                STEEM 0.30
                                TRX 0.12
                                JST 0.032
                                BTC 63878.79
                                ETH 3133.72
                                USDT 1.00
                                SBD 3.85