OMG Network (formerly OmiseGo) is a cryptocurrency that, despite its short existence, already has a fairly high exchange rate, which allows it to create a worthy competition for similar assets in its segment. This coin is an attractive object for investment. Leading representatives of the cryptocurrency business, stock traders and institutional investors are adding OMG to the crypto portfolio. The OMG Network project aroused a resonance in the media and almost immediately received serious support from investors. The cryptocurrency has a huge potential, so now is the best time to invest in OMG in the long term, while the project is still under development.
What is OMG?
OMG Network is a decentralized financial ecosystem powered by blockchain. The OMG blockchain is working on the Proof-of-Stake (PoS) consensus algorithm, thereby, the network is secured and scalable. The project has integrated financial instruments that allow you to work simultaneously with fiat currencies and digital money. It is created so that users from all over the world can pay for goods and services via various currencies, without resorting to the services of exchangers and banks. OMG Network converts fiat currency to cryptocurrency and vice versa. The crucial point is that all transactions are processed instantly, and the fees for them are minimal. In its early stages, the price of OMG coin was very cheap – only 50 cents, but by January 2018, the price of the asset had increased to $ 25.72 per coin. To date, OMG Network’s market capitalization has grown to $725,155,854, a significant increase considering where it all started.
The main and final task of the OMG project is to break down the barriers between fiat and cryptocurrencies that will lead to formation of the new financial market. The slogan of the project “Unbank the Banked” very well and concisely describes the goal of OMG.
OMG is created on the basis of the Ethereum blockchain, which allows you to store it on any wallets that support the ERC20 standard. The fact that the main adviser to the OMG Network project is Vitaly Buterin (the founder of Ethereum) made a huge contribution to the popularization and reputation of the project. Like many cryptocurrencies, OMG has a deflationary nature, as its emission is limited to 140,245,398 coins. In May 2021 OMG developers have introduced OMGX – next-generation Layer 2 solution that runs on top of Ethereum’s base layer. By building on OMGX, projects and developers will be able to take advantage of a wide array of tools, including low-cost smart contracts and stacking.
Why should I trade OMG?
The OMG cryptocurrency platform is an ambitious and young project that has managed to gather around itself an impressive community that believes in the growth of the value of this asset. Since the launch in 2017, OMG value rose from 50 cents to $5.35. Thanks to the well-designed platform and its decentralized structure, the maximum convenience of user interaction with it is ensured. OMG cryptocurrency is successfully traded on the largest exchanges and is popular among investors.
OMG Network may be of great interest to investors for its high profitability. The history of the exchange rate growth shows that the OMG coin at the beginning of 2021 was worth only $2.50, and in early May, the price for one coin was already as much as $12.97.
Where to exchange OMG
You can seamlessly exchange OMG via the largest cryptocurrency exchanges and online brokers. One of the most convenient ways is to download an app on your smartphone. The coin is sold and bought for dollars, euros, pounds, and some other fiat currencies. However, it is easier and more profitable to buy it for BTC and ETH. Here are some platforms where you can exchange OMG 24/7:
- Binance – the world’s largest cryptocurrency exchange, where you can buy, sell and trade OMG in a convenient and secure manner.
- Bitfinex – one of the leading platforms for cryptocurrency trading. Founded in 2012, it has become one of the best platforms for traders and institutional investors.
- 7b – the best crypto broker, that provides an opportunity to trade more than 2000 cryptocurrencies at the most competitive rates on the market.
- Huobi – one of the largest crypto exchanges in the world with high reliability rating, founded in 2013.
How to exchange OMG using the 7b crypto broker app?
If you want to exchange OMG instantly, 7b is the best place to buy or sell crypto without a doubt. With our user-friendly interface and round the clock support even a complete novice has an opportunity to trade cryptocurrencies in a smooth and safe manner. To exchange OMG on 7b just follow the given instructions:
- Download the 7b crypto broker app from Google Play.
- Log in to your account or sign up if this is your first time on 7b.
- Deposit the necessary amount of OMG or another cryptocurrency.
- Choose the preferable trading pair, for example BTC/OMG.
- Click the “Buy” or “Sell” button.
- Enter the desired amount of OMG.
- Confirm the transaction.
Is OMG a good investment?
The review of the OMG Network shows that the project is very promising and suitable for long-term deposits. Its founders are successful financiers and entrepreneurs who know everything about modern technologies and blockchain projects.
How do I invest in OMG?
The best and safest way to invest in OMG is to use the services of a reliable crypto exchange. To do this, simply log in/sign up to your account, deposit funds and select the desired trading pair, confirm the transaction and that’s it.
How to trade OMG for beginners?
The most convenient place to trade OMG is cryptocurrency trading app, like 7b. Our user-friendly interface gives an opportunity to newbies in crypto to trade OMG without any struggles. Just sign up for 7b account, select the desired trading pair, enter the required amount, and confirm the transaction.
How to buy OMG cryptocurrency?
On 7b, you can safely and quickly buy OMG at the most competitive rates in the crypto market. Just download the 7b crypto broker app, type “OMG” into the search bar and click “Buy”.
What is OMG Blockchain?
OMG Network is a project that was originally based on the Ethereum blockchain. It runs on the Proof-of-Stake consensus algorithm. The main goal of the project is to decentralize the current financial system and destroy the boundaries between fiat and cryptocurrency.