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How to buy Olympus (OHM) in the UK

Learn how to buy Olympus (OHM) in our step-by-step guide.

Where to buy Olympus in the UK

It looks like OHM may not be available to purchase on an exchange in the UK.

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

Decentralised 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 decentralised exchanges first if you're unfamiliar.

How to purchase OHM using a decentralised exchange.
  1. Find OHM on a decentralised exchange and make sure Olympus 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 OHM using an exchange like CoinJar. You will need to purchase enough ETH to swap for OHM 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 OHM 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 finalise and the OHM 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 UK.

Best Olympus wallets to store your OHM

You can keep your OHM on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your OHM below.

Ledger Nano X Wallet

Trezor Model T Wallet

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Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is Olympus a good investment?

OHM is the token that is required to facilitate any internal operation taking place within the Olypus ecosystem. Here are a few key pointers to bear in mind before investing in the asset:

  • Unique value proposition:As per the official project whitepaper whitepaper Olympus’ reserve asset ‘OHM’ is designed to help weaken the crypto market’s overt reliance of the US dollar by pegging it to alternative stores of value, all while affording users the many benefits afforded by famous stablecoins such as USDT, USDC, etc.
  • Novel liquidity creation mechanism:While a number of DeFi platforms suffer from the issue of ‘liquidity migration’, causing their financial mechanisms to time and again be faced with various operational issues, Olympus is able to mitigate this problem by owning its liquidity pool via a process call bonding — wherein the platform generates liquidity from its users in return for discounted OHM tokens.
  • No details about dev team available: Even though the project is self-governing, thanks to its use of a DAO-centric framework, it should be mentioned that there are no details about any of Olympus’ core team members.
  • Crypto-based pegging model: As per the project websitewebsite Olympus works as ‘decentralized reserve currency’ that is governed by the OHM token, with each coin being backed by a number of different cryptos including DAI, FRAX, amongst others. As a result, the asset cannot ever fall below a set intrinsic value, giving it a unique economic framework that regular stablecoins cannot achieve.

    Today's Olympus price versus ATH

    Compare today's price of Olympus ($10.53 USD) against its all-time-high price of $1415.26 USD on 25 April 2021. The closer the bar is to 100%, the closer OHM is to reaching its ATH again.

    Olympus's price: $10.53
    ATH date: April 25, 2021
    0.74%

    Olympus ATH: $1415.26


    How to trade, convert or sell Olympus

    You can convert or sell your OHM with the same exchange you bought it through:
    1. Sign in to the exchange you have OHM on.
    2. If you store your Olympus in a digital wallet, compare crypto exchanges to convert or sell it on.
    3. Choose Sell or Convert and place a sell order.
    4. Choose the amount of OHM you'd like to convert or sell.
    5. Confirm the sell price and fees and close your sale of Olympus.
    6. Complete your transaction and move your OHM to a wallet for storage.
    1. Data by CoinGecko

    * Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

    Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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