Where and How to Buy OmiseGo(OMG)?
After reading this article you will be available to buy OmiseGO. Read every Step and be careful.
After reading this step by step beginners guide you will be available to buy/invest in OmiseGo(OMG). I would also like to point out, that I’m not giving out a financial advice, investing is still considered risky, especially in cryptocurrencies. I’m purely showing you how you can purchase OmiseGo in a very simple way. If you read the guide carefully, you will own OmiseGo in a couple of minutes.
P.S There are multiple ways how to buy OmiseGO(OMG) and any other cryptocurrency, I’m just showing you one of the ways. In my opinion, it’s rather easy. So let’s get to it.
Step 1 – Create an account in Coinbase
If you don’t know how to do it already, We’ve prepared a blog post similar to this that explains how to create an account at Coinbase – How to use Coinbase to buy and sell cryptos and bitcoins.
If you read the post you will understand, that, before you actually can buy OmiseGO, you’ll have to invest in another cryptocurrency and you can choose – Bitcoin, Ethereum, Litecoin, Bitcoin cash, those are the options Coinbase is giving you. In near future, Coinbase might add other ERC-20 Coins, and it could be OmiseGo(fingers crossed), but for now…
I would suggest you start with Ethereum or Bitcoin since they have the highest trading volumes. It will just make it easier to invest in OmiseGo In summary that’s step 1 – create an account in Coinbase and buy Ethereum or Bitcoin. I’m going to use Ethereum in this tutorial for this guide as an example. (If you’re new users and you’re signing up for Coinbase now, I would suggest you to use the link at the bottom, we will both receive $10 if you’re going to deposit at least $100)
Step 2 – Choose a Crypto Exchange
You will have to find a crypto exchange that allows to trade/buy OmiseGO(OMG). You can find the full list of exchanges that trade OmiseGo on coinmarketcap. I would suggest choosing an exchange that has high trading volume and definitely check out if it trades OMG otherwise you will have to signup at multiple exchanges, which is not bad, but…my suggestion – go with Binance, most comfortable design and it’s beginner friendly.
If you don’t know which cryptocurrency exchange is the best for your you can read our blog post on how to choose the best crypto exchange. It will give you the fundamental understanding of how to choose the best exchange that suits your needs the most. It also gives you criteria on which should you choose exchange. Not every exchange works for everyone. Follow our guide, follow our criteria and find the crypto exchange that suits you. We are going to use Binance Exchange and Ethereum as an example of this step by step guide.
Step 3 – Transfer your Ethereum to Binance
This part is based on the assumption that you chose Binance. Since it has the biggest volume of all exchanges, seems like a perfect exchange for this example. It would work the same way with any other exchange, just the interface will be a little different that’s all. If you have picked other cryptocurrency exchange, you will still be able to use this guide. The main goal is to transfer your current digital assets – Ethereum to your new exchange so you can buy and invest in OmiseGo(OMG)
These are the Following things you will need to do:
- Create an account on Binance.
- Transfer your coins from Coinbase to Binance.
Like I mentioned before we’re going to use Ethereum and Binance as an example.
When you press “Send” Coinbase will ask you for an Ethereum address. Remember you can only send Ethereum to Ethereum wallet, don’t mix it up. Otherwise, you will lose all of your Ethereum.
So now you have to log into Binance Exchange and find your Ethereum Address.
After you’ve logged in press Funds>Deposit>Find Ethereum (Top Right corner)
So all you have to do now is to Copy that address, I suggest you use the “Copy Address” Button. (Better safe than sorry)
Go back to Coinbase, enter the address, double check if you have added the right address because if you make a mistake, there’s no turning back, you will lose all of your Ethers/coins. When you have done that and you’re sure it’s the right address – press send.
It will take around one hour for the funds to be displayed and be available at your Binance Account.
Also, Coinbase and Binance might ask you to confirm your identity, ID or Passport and a picture of yourself holding a date, just for security measures.
I can’t stress this enough – You can only send ethereum to ethereum address and you can only send bitcoin to a bitcoin address, don’t mix this up, guys. So make sure everything is in order. You will only have yourselves to blame. I would suggest if it’s your first try on crypto, send test amount of like $5-10. That might take the edge off. Be carefull, and double check everything, always.
Step 4 – Trade Ethereum for OmiseGo
Go to Binance Exchange (top left corner) and pick Advance (I use advance exchange since it has a better interface) Which of course is a subjective opinion. You pick whichever interface suits you the most.
Now that you’re in the advance exchange pick Ethereum in the top right corner and find OMG and click on it.
When you will have done that, Binance will show you OMG’s price against Ethereum, if the price suits you, then you will have to set up an order. Down in the right corner above the green “buy” button, you can set up the price, whichever suits you, if the current price is okay and you’re ready to buy, enter the amount of OmiseGO(OMG) you’re willing to buy. If you’re willing to spend all 100%(Ethereum), then just click the “100%” button and click buy. Simple as that.
After that, your order should be filled and you should have OMG tokens in your Binance Account.
Make sure to check if the order went through.
This is how to buy OmiseGO(OMG) One of many options. If you’re willing to know other ways, how to buy OMG, then leave a comment below and I will find the time to write another blog post.
If you don’t like to keep your digital assets on CryptoCurrency Exchanges you can also transfer your OMG to your Ethereum Wallet. If you would be interested in learned how to transfer OMG to your Wallet, leave a comment below.
After signing up for any service I would highly recommend setting up 2FA(2-factor authentication) to any account, try to keep your account safe. Both of the platforms allow you to do so (Binance and Coinbase). I would suggest activating 2FA to all of your crypto accounts. You can never be too safe when it comes to money. Better safe than sorry.
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