OmiseGO is a decentralized exchange and payment platform built on top of Ethereum. It gives users the ability to create peer-to-peer marketplaces, build decentralized apps and issue their own digital assets.
The coinbase is a platform that allows users to buy and sell cryptocurrency. This article will walk you through the steps on how to use coinbase to purchase OmiseGO (OMG).
OmiseGO is an open-source, blockchain-based platform for immediate peer-to-peer transactions that has received backing from Ethereum’s creators, Vitalik Buterin and Gavin Wood. It is one of the most successful projects built on the Ethereum blockchain. If you’re reading this, you’re presumably already familiar with the project.
Maybe you’re a crypto aficionado who’s been following the project, or maybe you’re a total newcomer to the cryptocurrency world who simply typed OMG when you realized how many different tokens are available. It doesn’t matter. In this tutorial, we’ll show you how to buy OmiseGO in a step-by-step manner (OMG).
QUICK GUIDE: BUYING OmiseGO
- Create a Binance account and log in.
- To obtain your Binance BTC address, go to Wallets – Spot wallets.
- Binance is where you should send your money.
- You’ve arrived at the Binance Markets website.
- Find the OMB/BTC trading pair’s Market page.
- Enter the amount of BTC you wish to spend and click “Buy OMG.”
Top 5 Exchanges to Purchase OmiseGO
Finding out where to purchase OmiseGO is the first step in figuring out How to Buy OmiseGO. There are hundreds of cryptocurrency exchanges, ranging from well-known, well-respected sites like Binance or Coinbase to obscure exchanges like Criptolago. There isn’t a single exchange that lists every single token. Simply put, there are just too many of them. So we’ll need to figure out which ones list OMG first.
Sites that monitor cryptocurrencies, such as cmc.io and coincodex.com, can help us figure this out. We may go to coincodex, enter OMG in the right-hand search box, and then choose the “Exchanges tab.” According to coincodex, the following are the OMG exchanges:
By default, the list is sorted by 24-hour trading volume and includes not only the exchanges but also the trading pairs available. This informs you how much you can spend on your OMG.
Binance (with by far the highest volume), Huobi Global, OKEx, Coinbase Pro, and UPbit are the top five exchanges for OMG, as seen in the picture above. OMG may be purchased on Binance using Bitcoin (BTC), USD Tether (USDT), Ether (ETH), and their own Binance Token (BNB)
Let’s compare and contrast the top five OmiseGO exchanges:
Buying OmiseGO: A Step-by-Step Guide
Binance is the best location to purchase OmiseGO based on the information provided. It boasts the most trading pairings and the greatest trading volume for OMG. Although Binance accepts credit card payments for crypto token purchases, it is limited to Bitcoin and a few other coins. Only BTC, USDT, ETH, and BNB may be used to purchase OMG.
Now we know where to look. Let’s look at how to buy OmiseGo now (OMG). Let’s pretend you have some Bitcoin in your own wallet (as you should) and wish to purchase 0.0003 BTC worth of OMG tokens. Let’s take them one at a time:
Step 1: Open a Binance account.
You may skip to the next step if you already have a Binance account. If not, continue reading.
Go to www.binance.com and click the yellow “Register” button in the top banner to get started.
Fill in your e-mail address and a strong password, then click “Create account” and complete the verification and activation procedures. For additional protection, don’t forget to enable two-factor authentication (2FA).
Step 2: Make a deposit
After you’ve set up your Binance account, you’ll need to deposit the money you’ll need to purchase OmiseGO. You must move Bitcoin from your personal wallet to your Binance BTC wallet in order to do so.
To begin, log in to your Binance account and choose “Wallet” from the top ribbon, followed by “Spot Wallet.”
This page displays your overall financial situation. To put it another way, the total worth of the tokens in all of your wallets. From the left-hand menu, choose “Deposit.”
Choose the token you wish to deposit from the drop-down menu on this page. Bitcoin, in this instance. On the right, you’ll see your Binance BTC wallet address. You may either copy the address to the clipboard or display a QR code that can be scanned.
Now go to your own wallet and send the appropriate amount to the wallet address you received above. Your tokens will be available for purchase on Binance in a few minutes after all network confirmations have been completed.
Step 3: Investing in OmiseGO
You’ll need to go to the cryptocurrency market now that your BTC is on Binance. In the top ribbon, choose “Markets.”
Because we’re purchasing using Bitcoin, go to the “BTC Markets” tab and enter OMG in the right-hand search box.
In the window, you’ll see the OMG/BTC trading pair. To access the trade page, just click on it.
This is the OmiseGO/Bitcoin trading pair’s market page. The first section will provide some price details. Scroll down to the bottom to see the section where you may make your purchase.
We need to look at the left-hand column since the right-hand column is for purchasing BTC using OMG. Fill in the “Total” box with the amount of BTC you wish to spend. 0.0003 BTC in this case. We can see that we’ll receive 2.48 OMG from this. After you’ve filled in all of the information, click the “Buy OMG” button to finish the transaction. Your OmiseGO tokens will be in your wallet in a matter of minutes.
The best wallets for OmiseGO
You may keep your OmiseGO (OMG) tokens in your Binance wallet now that you know how to purchase OmiseGO (OMG). However, keeping your bitcoins in personal wallets is usually a smart idea. Hardware wallets (physical devices that must be connected into a computer) and software wallets are the two types of wallets available (web, desktop, or mobile).
Because OMG is an ERC20 token, it may be stored in any ERC20 wallet. The best five wallets for holding OmiseGO are shown below. Trust Wallet has just joined with Binance, making it an excellent choice if you intend to trade there often.
[FAQS] for more information about OmiseGO
What exactly is OmiseGO?
OmiseGO is the name of a blockchain-based initiative as well as a cryptocurrency. The OmiseGO project is a peer-to-peer payment and transfer platform that is open-source. Some have compared it to PayPal, but with bitcoins instead. The platform was created in Southeast Asia, where over 75% of the population lacks access to banking services. Unbanked individuals from all around the globe may use this platform to send and receive money transfers and make payments.
The cryptocurrency that drives the OmiseGO payments network is called OmiseGO (ticker symbol: OMG).
Is OmiseGO limited to Southeast Asia?
No. The firm is headquartered in Singapore, but individuals and companies from all around the globe are welcome to join. OMG is available for purchase worldwide. And you may start earning OMG payments right now, no matter where your company is situated.
Is it wise to invest in OmiseGO?
1 OMG is currently worth 1.15 USD at the time of writing. By the end of 2023, some of the most bullish price estimates for the token anticipate that it will be valued between 3.5 and 5 USD. According to the least optimistic estimates, it may reach that 5 USD value by 2025. So, at least in the long run, OMG seems to be a smart investment.
Conclusion on Purchasing OmiseGO
The success of the OMG token is completely dependent on the payment platform’s performance. If OmiseGO really becomes the PayPal of the crypto world, its price will undoubtedly rocket to new highs. There is one more detail: 100% of OMG’s total supply is already in circulation, thus no further tokens can be mined. If the platform takes off, the token’s scarcity will drive up the price. OMG seems to be a worthwhile investment, and now that you’ve read this article, you know how to get started.
Nano is a cryptocurrency that was released in 2017. It is the smallest and cheapest cryptocurrency on the market. The how to buy nano article will provide step-by-step instructions on how to purchase Nano.
Frequently Asked Questions
How do I buy OMG coin?
OMG coin is an ERC-20 token. You can buy it on the Binance exchange or you can use a service like Changelly to convert other coins into OMG coin.
How do I buy OmiseGo?
You can buy OmiseGo by purchasing it on an exchange such as Binance.
How do you trade OMG?
You can trade OMG by using the Trade button on the bottom of your screen. Then you will be able to select which game you would like to trade for it.
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