Ever since Bitcoin Gold’s developers launched the mainnet, people have been wondering if this cryptocurrency would gain any traction. So far, things have been relatively quiet as far as BTG is concerned. Few wallets support it, and trading it across exchanges is problematic. FreeWallet has announced it will offer built-in Bitcoin Gold support as of this week. It’s an interesting development, even though FreeWallet doesn’t have the best of reputations.
FreeWallet and Bitcoin Gold
It is evident the Bitcoin Gold launch has not been overly successful by any means. Although there was some initial buzz about this new altcoin prior to launching, things have not gone all that well for BTG so far. The currency is still around, though, and it seems some people are actually mining Bitcoin Gold right now. At the same time, the BTG price is continuously declining, and the circulating supply is still a big unknown.
That being said, there is a growing demand for Bitcoin Gold wallet support. So far, Coinomi is one of the only companies to have finalized this integration. FreeWallet is now the second service provider to do so. It’s an interesting development, although most people have taken a disliking to FreeWallet. There have been multiple rumors that the team steals user funds on a regular basis, although it is always difficult to prove the veracity of such claims.
Regardless of how legitimate this “release” really is, it is a positive sign for the Bitcoin Gold ecosystem as a whole. More specifically, this altcoin is severely struggling for traction, despite the coin being worth over US$100 right now. A lot of people are leaving money on the table by not paying attention to BTG, but the difficult claiming process simply makes it not worth the hassle right now.
According to FreeWallet, the upgrade occurs automatically. Users don’t have to do anything in order to access Bitcoin Gold, as their balances will be credited in the process. It is difficult to gauge how people will handle these funds in the coming days and weeks, as using and spending this money is almost impossible.
FreeWallet co-founder Alvin Hagg commented as follows:
This is the second Bitcoin chain split we’ve supported. FreeWallet succeeded in providing uninterrupted operations during both of these events. There is a great opportunity when a new network is launched, as users are subject to a free airdrop. FreeWallet’s mission is to make sure users can access this money and remain happy.
How the overall cryptocurrency community responds to this change remains to be seen. It is commendable to see companies – even those with shady reputations – pay attention to what is going on around them. It would have been better to see more companies focus on SegWit and Bitcoin Cash rather than Bitcoin Gold. However, airdrops shouldn’t be ignored by any means, as people deserve access to their funds first and foremost.