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How to buy MANTRA DAO (OM) in the US

Learn how to buy MANTRA DAO (OM) easily by following a step-by-step guide and comparing 10+ crypto exchanges.

MANTRA DAO
OM- USD
$0.12
- $0.01 ( - 6.33%)
DEFI

Where to buy MANTRA DAO

It looks like OM may not be available to purchase on an exchange in the US.

You can still purchase OM by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.

How to purchase OM using a decentralized exchange.
  1. Find OM on a decentralized exchange and make sure MANTRA DAO can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for OM using an exchange like Gemini. You will need to purchase enough ETH to swap for OM as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for OM on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalize and the OM tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.

What to consider when buying MANTRA DAO

As investing in volatile assets like cryptocurrencies can often be a risky endeavour, here are the aspects you can consider before adding OM to your portfolio:
  • DAO: This protocol operates as a Decentralised Autonomous Organisation (DAO) which entails that its operations don’t reside in a single location and there is no need for human intervention for its governance as autonomous smart contracts govern the protocol. This is seen as a highly-coveted way of running a protocol for cryptocurrency purists as it highly reduces the chances of biased malicious activity.
  • USDOM Stablecoin: The development team is currently working on USDOM, the native stablecoin of the platform. It is touted to be similar to MakerDAO’s DAI stablecoin in the way that it will also be pegged 1:1 to the US Dollar in a multi-collateralised manner, through collateralised debt positions (CDPs). In addition to DAI’s capability of using only ERC-20 assets to back it, USDOM could be backed by any asset supported by the Polkadot network, including BTC, ADA, ETH, EOS, XTZ, OM, etc. The assets chosen to back the stablecoin will depend on the asset’s liquidity and votes in the governance process. The launch of this stablecoin could increase the prominence of the protocol and its token in the market.
  • Supply and tokenomics: The OM token has its maximum supply capped at 889 million tokens and currently has a circulating supply of 350 million tokens. The largest proportion of the tokens – that is, 30% – are reserved for staking rewards indicating their focus on staking. The second-highest portion – 17.5% – is reserved for the team and advisors, while 12.5% each is reserved for referrals and grants, and 10% of the tokens are held as reserves. The remaining 17.5% is for sales, with 9% being given out at private sales and 8.5% at public sales.

How to sell MANTRA DAO

You can cash out your OM with the same exchange you bought it through:

  1. Sign in to the exchange you have OM on.
    If you store your MANTRA DAO in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of OM you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of MANTRA DAO.

Disclaimer: Cryptocurrencies, including MANTRA DAO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of OM is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the MANTRA DAO or any other cryptocurrency discussed.

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