Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

How to buy, sell and trade OmiseGO (OMG) in the US

Learn more about where you can buy the OMG token, how it works and what you need to know before buying.

Updated

Fact checked

Omise, the team behind OmiseGO (OMG), aims to create a blockchain-based electronic payments platform that accepts all kinds of fiat and cryptocurrencies. Omise seeks to facilitate exchanges around the world at lower costs than traditional payment platforms. Although trading activities on the platform will take place on existing blockchains, primarily the Ethereum (ETH) blockchain, Omise plans to create its own blockchain to streamline cross-blockchain transactions. With the OMG token, you can participate in validating transactions on the OmiseGO blockchain and earn fees in the process.

If you want to learn more about buying OMG, how OMG works and things to consider before buying it, keep reading.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Promoted

Quick guide: How to buy OMG

  1. Go to the Coinswitch website.
  2. Select your payment currency in the “You Send” box.
  3. Select your desired cryptocurrency in the “You Get” box.
  4. Click “View All Offers”.
  5. Select the offer that’s best for you.
  6. Enter your cryptocurrency wallet address.
  7. Click “next”.
  8. Follow the steps Coinswitch provides to complete your purchase.
Go to Coinswitch's site

This is our quick guide to just one way to buy OMG. Compare some other options in the table below.

Where to buy, sell and trade OMG in the US

You can buy and trade OMG on several cryptocurrency exchanges, including the following:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Bank transfer (ACH),Credit card,Debit card,Bank transfer (SEPA),Wire transfer
USD, EUR, GBP

24
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

43
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Gemini Cryptocurrency Exchange
Cryptocurrency,Wire transfer,Bank transfer (USA only)
USD

27
cryptocurrencies

Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
AdvCash,Bank transfer,Cryptocurrency,Debit card,Payeer
USD, EUR, GBP, RUB, PLN, TRY, UAH, KZT

53
cryptocurrencies

A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies

A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
Bitit Cryptocurrency Marketplace
Cash,Credit card,Debit card,Neosurf,Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
CoinBene Cryptocurrency Exchange
CoinBene Cryptocurrency Exchange
Cryptocurrency
-

50
cryptocurrencies

loading

Compare up to 4 providers


A step-by-step guide to buying OMG

If you want to know how to buy OMG on an exchange, you might follow this example:

Step 1. Create an account on a cryptocurrency exchange that lists OMG

Select a cryptocurrency exchange that enables trading with OMG using either fiat currencies or cryptocurrencies. For US dollar exchanges, both Mercatox and YoBit allow you to pay in USD.

When you create an account at an exchange, you might have to provide your email address and password.

To keep your coins secure, you should enable 2-factor authentication for your account. Some exchanges require you to submit additional documents, such as photo ID, before you can begin trading.

Step 2. Deposit funds into your account

The process of depositing funds to your account varies between exchanges. This process typically involves using the exchange’s deposit feature, where you choose the currency you want to deposit. You may then be prompted to enter the receiving address of your exchange wallet.

Note that if you wish to buy OMG from an exchange that does not accept fiat currency, you will have to acquire cryptocurrency first to be able to deposit cryptocurrency funds into this exchange. To learn how to get started with this, check out our guides:

You would then transfer your cryptocurrency bought with fiat currency (such as USD) to your wallet on an exchange that lists OMG.

Step 3. Buying OMG

Ensure that you have received your deposited funds in your wallet. After this, you can proceed to buy OMG. Again, the process may vary slightly between exchanges, but the usual way involves navigating to the trading page. Then, you would select the appropriate trading pair (such as OMG/ETH if you wish to exchange ETH for OMG, or OMG/USD if you wish to buy OMG with USD). Next, you would specify the details of your order, such as the amount you wish to exchange, before hitting a buy button to purchase OMG.


How to sell OMG

Depending on the exchange, there might only be slight differences in the buying and selling processes. In many cases, you are only required to enter a trading pair, such as OMG/ETH or OMG/USD. You would then specify the selling details, such as the quantity to be sold, before you hit the sell button to sell your OMG holdings.


Which wallets can I use to hold OMG?

OMG is ERC20 compatible, as it is based on the Ethereum (ETH) network. Wallets that can hold ERC20 coins should hence be able to support OMG as well. The following are some of the available ERC20-compatible wallets:

Name Product Wallet type Supported Cryptocurrencies Price (USD) Disclaimer
Ledger Nano S Wallet
Hardware
BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA & 1,330+ more
$59
Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
Guarda Wallet
Desktop Client, Mobile, Web
BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, XLM, DASH & 60+ more
Free download
A multi-platform wallet with a user-friendly interface designed to store, manage, transfer and receive digital assets.
TREZOR One Wallet
Hardware
BTC, ETH, XRP, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
$55
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
Exodus Wallet
Desktop Client
BTC, BCH, BTG, LTC, ETH, DASH, ETC, VTC, FUN, DCR, EOS, ANT, GNO, OMG, BAT & 15+ more
Free download
Founded in July 2016, this free desktop wallet offers support for multiple cryptocurrencies including live chart tracking features.
MyEtherWallet
Web
ETH, ETC, EOS & ERC20 tokens
Free download
MyEtherWallet (MEW) is a free, open source tool for creating wallets that work with the Ethereum platform.
Eidoo Wallet
Desktop Client, Mobile
BTC, ETH, EOS, TRX, FUN, VET, REP, OMG, ERC20 tokens, ERC223 tokens
Free download
Offering support for nearly 500 cryptocurrencies, this HD mobile wallet is user-friendly and gives you full control of your private keys.
loading

Compare up to 4 providers


How OMG works

OmiseGO is a subsidiary of Omise, a leading payment gateway in East and Southeast Asia. Established in 2013, the developers of OmiseGO recognized that the blockchain had the potential to address interoperability problems among payment services. It counts Ethereum founders Vitalik Buterin and Gavin Wood among its advisors. Joseph Poon, the creator of the Lightning Network and Plasma, wrote the OmiseGO white paper and is the designer of the OmiseGO blockchain.

To send money to someone else in another country using traditional financial systems, senders have to pay transaction fees. Moreover, the money is converted to local currency before it reaches the recipient’s hands.

While mobile wallets have the capability to address this issue, mobile wallet platforms are not interoperable. This means that if the sender and recipient are on different mobile platforms, sending and receiving money remains virtually impossible.

OmiseGO aims to change all this with a global platform that offers real-time, peer-to-peer value exchange and payment services, regardless of the currency and asset type used.

Note that Omise does not own the OmiseGO platform, which will remain freely available to anyone, just like the bitcoin and Ethereum blockchains.

Learn more about OMG in our introductory guide.


Real-world applications for OMG

OmiseGO’s wallet Software Development Kit (SDK) is already available to other payment gateways interested in a decentralized exchange. The SDK is designed for other companies to be able to create their own wallets capable of validating transactions on the OmiseGO network. These wallets can be used for payment, loyalty and reward programs, as well as for various other financial services.


What to consider if buying OMG

There are inherent risks in trading cryptocurrencies such as OMG because cryptocurrencies are speculative and coin prices are volatile. Consider the following factors before buying OMG.
  • Supply. According to CoinMarketCap at the time of writing, the circulating supply of OMG was 102,042 OMG out of a total supply of 140,245,398 OMG.
  • Use. Many people might find the promise of payment platform interoperability interesting. It is hoped by the team behind OMG that companies will utilize the wallet SDK to develop their own applications. On February 28, 2018, the team released its wallet SDK code, as well as the code for its server and mobile SDKs, in a GitHub repository for anyone interested in developing their own wallet applications.
  • Partnerships. Significant developments include Omise’s signing of a partnership agreement with McDonald’s Thailand in September 2017 and Thailand’s National Identification (ID) project in February 2018.
  • Ongoing new developments and press. Monitor the news for any developments on OmiseGO. News about OmiseGO attracting more partners and more companies using its SDK wallet and payments platform are of particular interest. For example, while payment platform Stripe announced it planned to phase out bitcoin by April 2018, it praised OMG.
  • Adherence to future plans. You should look at how successful OmiseGO is in implementing its roadmap plans ahead of or on schedule. Find out more about OMG through reading its roadmap.
  • OmiseGO is in the same market as Ripple, the blockchain-based payments platform behind XRP, the world’s third-ranking cryptocurrency by market capital.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

Picture: Shutterstock

Related Posts

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site