GoBear is now part of Finder

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

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

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.

Where to buy OMG in Singapore

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

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

314
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.
Coinbase Digital Currency Exchange
Bank transfer (ACH)
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

71
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

279
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

165
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.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

225
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Cryptocurrency
KRW

191
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Bitstamp Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Credit or Debit Card, SEPA, Faster Payments (FPS)
USD, EUR, GBP

33
cryptocurrencies

A global cryptocurrency exchange that facilitates crypto to fiat transactions, where you can use EUR or USD to buy bitcoin and popular altcoins.
ShapeShift Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Banxa
-

50
cryptocurrencies

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

50
cryptocurrencies

Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

810
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens 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.
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies

A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
Liquid Cryptocurrency Exchange & Margin Trading
Bank transfer, Cryptocurrency, SWIFT, Credit or Debit Card, SEPA
AUD, EUR, JPY, USD, SGD, PHP, HKD

125
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Liquid is a unified, globally-sourced trading platform that bridges the worlds of fiat and crypto.
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.

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 two-factor authentication on your account. Some exchanges require you to submit additional documents, such as a photo ID for verification 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 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 USD) 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, 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.

At the time of writing (23 March 2018), there are no exchanges that offer OMG/SGD pairing.


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:


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


Picture: Shutterstock

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.

More guides on Finder

Ask Finder

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 Policy and Terms.

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