How to Buy OmiseGo
OmiseGo (OMG) is a proof-of-stake blockchain or platform. Its goal is to decentralize the exchange of digital assets to create a financial system that is open to the public. The aim of OMG is to serve as an answer to the issues of coordination that exist between processors, institutions, and gateways.
OmiseGo is based on the Ethereum (ETH) platform. OMGs mission is to become the leading P2P cryptocurrency exchange platform. So lets dig through it and lets learn how to buy omisego!
What is OmiseGo?
OmiseGo claims to be the solution to the coordination issues that exist between payment processors, financial institutions, and gateways. The object of OMG isn’t necessarily to serve as a cryptocurrency, but instead, to provide its users with an option that’s different than online exchanges.
The primary issue with the exchanges that currently exist is that you need to use a fiat currency (US dollars, Euros, etc) to purchase cryptocurrencies, such as bitcoin (BTC) and ETH. When it comes to changing cryptocurrencies, the exchange options are limited.
OMGs parent company is Thailand-based Omise. Essentially, the payment system turns Ethereum coins into a bank account. OmiseGo is supported by the co-founders of Ethereum. The Thai Ministry of Finance and the Bank of Thailand also endorse OMG.
The goal of OmiseGo is to serve as a supplement for its exiting payment network.
Where to Buy OmiseGo
Since OmiseGo is ETH-based, it can be purchased through online exchanges that offer Ethereum. Currently, there are more than 30 online exchanges where OmiseGo can be purchased, including:
Why Buy OmiseGo?
OMG is based on the ETH network, which utilizes decentralized blockchain technology. It offers lighting fast speed, high levels of security, and excellent solutions to the common communication problems that exist in the financial industry.
OMG allows for true peer-to-peer transactions. It also permits the use of decentralized apps, as well as smart contracts. It’s predicted that the value of OMG tokens will increase, so it promises to offer a good return on investment.
How to Sell OmiseGo
OmiseGo can be sold for other forms of Cryptocurrency. To sell OMG, follow these steps:
- Open an altcoin exchange account
- Fund your account with OmiseGo tokens
- Sell your OMG tokens for another form of cryptocurrency, such as ETH or BTC
- Sell your newly purchased cryptocurrency for fiat currency, such as US dollars or Euros
- Withdraw your fiat currency from your exchange account to your bank account
Which Wallets Can I Use for OmiseGo?
Multiple wallets can be used for OMG tokens. Some of the best options include:
- Ledger Nano
- Trezor Model One