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How to buy, sell and trade OmiseGO (OMG) in New Zealand

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

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.
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Quick guide: How to buy OMG

  1. Register an account with a cryptocurrency exchange like Easy Crypto.
  2. Upload ID to the platform to verify your identity.
  3. Wait a moment for Easy Crypto to confirm your identity.
  4. Create a cryptocurrency wallet on Easy Crypto if you don’t already have one.
  5. Select the cryptocurrency you want in the “Buy” section.
  6. Enter how much you want to buy and your wallet address.
  7. Check the amount and confirm the purchase.
  8. Pay for the purchase with a POLi payment or bank transfer.
  9. Receive your cryptocurrency to the wallet address provided.
Go to Easy Crypto'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 OMG in New Zealand

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

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Easy Crypto Cryptocurrency Exchange
Bank transfer, POLi
NZD

104
cryptocurrencies

Based in New Zealand, Easy Crypto enables users to simply pay in NZD through POLi or bank transfer to access a range of cryptocurrencies.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

304
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance 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.
Independent Reserve Exchange
Cryptocurrency, SWIFT, Osko, PayID, EFT
AUD, NZD, USD

15
cryptocurrencies

Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

67
cryptocurrencies

Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, 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.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

273
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

270
cryptocurrencies

Promo: Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

164
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
KuCoin Cryptocurrency Exchange
Cryptocurrency, Interac e-Transfer, PayPal, Wire transfer, Credit or Debit Card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

211
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
CoinSwitch Cryptocurrency Exchange
Credit card
USD, JPY, RUB, EUR

386
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
BitPrime Cryptocurrency Retailer
Bank transfer, Credit card, Cryptocurrency, POLi
NZD

96
cryptocurrencies

Based in New Zealand, BitPrime trades around 90+ of the world’s top cryptocurrencies, including bitcoin, Ethereum, Ethereum Classic, Litecoin and Ripple.
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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

It’s not currently possible to buy OMG with New Zealand dollars, so you will have to select a cryptocurrency exchange that enables trading with OMG using cryptocurrencies. One such exchange is Binance.

When you create an account at an exchange, you might have to provide your email address and password. On Binance, you select Registerfrom the main website and follow the steps to create a new account. You will likely need to verify your email address to activate your account.

To keep your coins secure, you should enable two-factor authentication on 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.

When logged into Binance, navigate to the “Funds” tab and choose “Deposits/Withdrawals”. From there you will see a list of supported currencies. Find the currency you wish to deposit (bitcoin is typically near the top) and click the “Deposit” button.

Note that if you wish to buy OMG from an exchange which does not accept fiat currency, you will have to acquire cryptocurrency in the first place 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 NZD) to your wallet on an exchange which 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). 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 ETH/OMG or USD/OMG. 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.
TREZOR One Wallet
Hardware
BTC, ETH, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
$59.90
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
ZenGo Cryptocurrency App
ZenGo Cryptocurrency App
Mobile
BTC, ETH, USDT, LINK, BNB, UNI, WBTC, XTZ, OKB, LEO & 30+ more
Free download
Take advantage of ZenGo's unique self-custody system to buy, sell and spend and earn cryptocurrency in your own wallet.
Exodus Wallet
Desktop Client, Mobile, Hardware
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, Mobile, Hardware
ETH, ETC, EOS & ERC20 tokens
Free download
MyEtherWallet (MEW) is a free, open source tool for creating wallets that work with the Ethereum platform.
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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 recognised 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 whitepaper 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 decentralised 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 and for various other financial services.


What to consider if buying OMG

There are inherent risks in trading cryptocurrencies such as OMG since 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 is 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 utilise the wallet SDK to develop their own applications. On 28 February 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 or on schedule. Find out more about OMG through reading their 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.

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