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OmiseGO Exchange

Based on Ethereum, OmiseGO is a public financial technology that is used in mainstream digital wallets. You can perform OmiseGO exchange on our website, BestRate.org. It enables payment services and peer-to-peer real-time value exchange using both fiat and digital currencies, as the OmiseGO network is agnostic between different types of currencies. The project aims to solve the issue of coordination among financial solutions and payment processors with the help of decentralized exchange on a public blockchain with low costs. Such financial operations as payments, payroll deposits, remittances, loyalty programs, asset trading and other on-demand services will be available in the OmiseGO network.

How to buy OmiseGO

If you want to buy OmiseGO using some other cryptocurrency you possess, first select the currency you own and put in the amount.

Select the OMG price rate that works best for you.

Type your OMG wallet address to the textfield. After that BestRate.org will generate the address for you. Copy it, and after that you will see that the transaction was created, its status will be on your screen.

How to sell OmiseGO

If you want to sell OmiseGO and buy another type of digital currency, first select the currency you want to buy and put in the amount. Then repeat all the steps described above.

BestRate.org provides you with the best OMG exchange rates so that you could maximize your profits.

What is OmiseGO

OmiseGO is an open-source financial technology based on Ethereum smart contracts. It allows its user to exchange value in real time directly without any third-party to govern transactions in a secure and transparent way.

It has strong support from the mainstream financial companies in Asia that plan to use it as the backend for existing online wallets, such as Google Wallet and WeChat Pay, and also to host digitized fiat money for their payment network.

Advantages of using OmiseGO

Security

OMG crypto currency is based on blockchain which makes its network hacker-resistant. The blocks where transactions are written to can’t be altered. This is why the OMG payments are much more secure than traditional ways of money transferring.

Decentralization

OmiseGO network is completely decentralized, there’s no authority to govern it and to third-party to rely your funds to. You are the only one who possesses your funds and has control over them.

Digitalization

OmiseGO aims to make the world’s economy digitized and give the advantages of financial services to those who have no access to traditional banking services.

OmiseGO definitions

Cryptoasset

This is a digital asset that’s based on cryptography to secure transactions, verify them and control creation of new units. Security of cryptoassets is based on the blockchain technology in most cases.

Exchange

The website where many cryptoassets are presented and can be exchanged for BTC, ETH or fiat currencies.

Node

This is a public ledger where the whole transaction history is kept.

Market cap

The market cap of this or another coin is calculated by multiplying the total value of the coin supply by the price per coin.

OMG investment strategy

In 2017, cryptocurrencies have shown the world incredibly high profit in the very short terms. As they use of digital assets is getting more and more widespread, there is a very good chance that they price of all this creature assets will only grow in time.

This applies to OmiseGO as well. As it’s been already stated above, huge financial institutions in Asia are very much interested in implementing this cryptocurrency. That’s why OmiseGO has a very good potential on the long run. The best investing strategy for OmiseGO is just “buy and hold”. Once its price gets to the needed level, you can withdraw your coins to any OmiseGO exchange, sell them there and count your profits.

The service TradingView can help you here. Set up email notifications for the OmiseGO price reaching specific numbers so as to know when it’s time to sell OMG.

Where to keep OmiseGO

If OmiseGO is the cryptocurrency of your choice and you’ve decided to make money on long-term investments, you should first of all to decide where you’re going to store your coins. There are many wallets supporting OMG crypto, and we will review the most popular ones.

Hardware wallets

Ledger Nano S

This is one of the most secure wallets that are currently available in the market. It’s a hardware wallet and nobody but you has access to it. It works with all the popular operating systems, such as Windows, Linux and Mac and allows you to keep unlimited amount of funds.

Trezor

This is also a hardware wallet with enhanced level of security. It’s compatible with encrypted password managers and has a 2-factor authentication feature.

Desktop / Mobile wallets

Exodus

This is a software wallet that works on Windows, Apple and Android. You can store most major altcoins and tokens on it, including OmiseGO

How to transfer OMG securely

With cryptocurrencies, there is no third-party to control the transfer of your funds. If you make a mistake and send your coins to a wrong address you will never be able to restore them. That’s why you should always will be very careful when making payments with OMG crypto or any other digital coin. Check the best practices to  make your crypto transfers secure.

Never type a wallet address manually

In most cases, cryptocurrency wallet addresses are a huge mix of numbers and letters. If you try to type an OMG wallet address manually there is a very high chance to make any mistake and send your coins to the wrong direction. This is why you should always follow a copy-paste procedure to avoid any mistake.

Check the transaction fee

Every time you make a transaction with OMG you should also pay a transaction fee. Always check the fee before sending your coins and see if it is reasonable enough.

Double check the address

On the internet, there are many types of malware that are designed to steal your crypto coins. Some of these viruses are created in such a way that once they are injected into a victim’s PC thet change a recipient’s wallet address to the one that belongs to a hacker. And if you try to send your coins to somebody they will be lost. Before you make a transaction always check that the first and the last few items of the recipient address are correct in order to protect your funds.

Test before sending

If you want to send a huge amount of OMG coins to somebody, you’d better make a test transaction with a small amount first. If everything works smoothly, then you can send the rest and be sure that the transaction was successful.