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OMG Network (OMG) price, chart, coin profile and news

Find the latest OMG Network (OMG) price, coin profile, news and history to get you started with OMG Network trading and investing.

OMG Network
OMG- USD
$4.47
- $0.67 ( - 12.98%)
SCALING

Built on the Ethereum platform, OmiseGO’s vision is to become the No. 1 peer-to-peer cryptocurrency exchange platform. OmiseGO is much more than an altcoin. It’s designed to be a financial platform, with the intent of disrupting current financial institutions and methodologies. It’s all built on top of Ethereum, one of the most popular decentralized application platforms on the market today.

Learn more Buy OMG

What is OmiseGO?

IconSymbolInitial release dateAlgorithm typeMax. supply
OMG2013N/A~140 million OMG

OmiseGO describes itself as “the answer to a fundamental coordination problem among payment processors, gateways and financial institutions”. The goal of the platform is not so much to be a cryptocurrency such as bitcoin or Dogecoin but rather to offer users an alternative to online exchanges.

The problem with current exchanges is that in order to buy a cryptocurrency like bitcoin, it’s always necessary to start from a fiat currency, for example USD. There are very few options and little variety available in exchanges, especially when it comes to converting one cryptocurrency to another.

Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. And make sure the provider you're interested in is available in your state.

Where can I buy, sell and trade OmiseGo in the US?

Name Product Deposit methods Fiat Currencies Cryptocurrencies
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

494
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Debit card, Wire transfer
USD, AUD, CAD, EUR, GBP, SGD, HKD, COP

95
cryptocurrencies

Get USD 25 in BTC when you trade USD 100 within 3 days of signing up. T&Cs apply.
Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

190
cryptocurrencies

Buy 165+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

962
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Bitstamp Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Credit or Debit Card, SEPA, Faster Payments (FPS)
USD, EUR, GBP

45
cryptocurrencies

A global cryptocurrency exchange that facilitates crypto to fiat transactions, where you can use EUR or USD to buy bitcoin and popular altcoins.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
USD

66
cryptocurrencies

New users earn up to USD 500 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Revolut Cryptocurrency App
Revolut Cryptocurrency App
Bank transfer (ACH), Bank transfer (SEPA), SWIFT, Credit or Debit Card
USD, EUR, GBP, CAD, NZD, JPY, HKD, NOK, DKK & 9 more

20
cryptocurrencies

Buy and sell several popular cryptocurrencies through your Revolut account, set up recurring purchases and transfer it to other US users. You can’t transfer cryptocurrency to anyone who does not have an active Revolut account. Service not available in Tennessee.
Bitfinex Professional Trading Exchange
Cryptocurrency
USD, EUR, GBP, JPY

177
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.
Coinbase Digital Currency Exchange
Bank transfer (ACH), Debit card, PayPal, Wire transfer, Apple Pay
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

82
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
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How is OmiseGO different from standard exchanges?

OmiseGO aims to disrupt the current method of buying and selling cryptocurrencies from exchanges. It does this by connecting currently existing cryptocurrency wallets to a central OmiseGO blockchain, over which users can exchange cryptocurrencies quickly and easily. OmiseGO differentiates itself by being decentralized and currency agnostic in the following ways:

  • Decentralized

Exchanges today are centralized operations. This means that the databases containing all transactions carried out on the exchange are stored on a server (or group of servers) owned by the exchange, alongside all the data available for a particular user, and often including identification like a passport and driving license.

OmiseGO offers the same exchange functionality but keeps all its transactions decentralized and stored on the blockchain. This keeps the data secure because a hacker cannot access one location to tamper with, say, the available funds of one person. A hacker would need to convince every user of the blockchain, making hacking attempts virtually impossible.

  • Currency agnostic

Most exchanges allow users to exchange money from fiat to cryptocurrency and back. This restriction causes a lot of fees to be taken out of a user’s account. For example, if I wanted to convert my BTC (bitcoin) to ETH (Ether), I would first need to find an exchange that trades in both BTC and ETH. Next, I would have to send BTC from my wallet to the exchange. Then I’d convert my BTC to a common fiat currency (e.g. USD). Finally, I would have to convert the USD back to ETH.

Throughout this whole process, exchanges would take fees, often when selling the BTC and again when buying the ETH.

OmiseGO circumvents the process by claiming that it’s currency agnostic. It doesn’t matter whether you’re converting ETH to USD, or ETH to BTC. The process and fees remain the same: one direct conversion with one tiny fee.

Where can I use OMG?

At the time of writing in September 2017, OMG are not coins you can use outside of holding them in your wallet as assets in OmiseGO.

How do I purchase OmiseGO (OMG) coins?

To acquire some of its valuable OMG coins, you should create an account with a reputable online exchange and convert some USD into OMG. Once the OMG coins are in your wallet, their value will rise or fall depending on whether OmiseGO’s value rises or falls. You can sell back to the exchange at any time, for example if you make a profit.

Using OmiseGO

As of September 2017, OmiseGO’s exact operational method remains unclear. However, the vision as described by the developers is to bring together service providers and help them bridge the gaps between them by using the OmiseGO currency agnostic blockchain.

For this reason, OmiseGO is not a platform that can be used on its own. It requires other service providers to plug into it for users to reap its benefits. If it sees widespread adoption, most users might not even know that they’re using OmiseGO’s platform as they go about using their own cryptocurrency’s platform.

What to watch out for

OmiseGO is a very young platform, still in its early stages both in terms of development and adoption as of September 2017, so not a lot is known about it other than a general, bird’s eye view of its team’s vision.

What’s next for OmiseGO?

The future of OmiseGO is unpredictable, and a lot remains to be seen. This is both a good thing, as the community has a lot of power over where the platform will go next, and a bad thing, since potential purchasers might be wary of putting money into the coin.

Market and cryptocurrency experts seem confident that OmiseGO has good things in its future, but nothing is guaranteed.

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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