Last update: Jun 6, 2022

How to Buy OMG Network (OMG)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy OMG Network. Depending on your country, you’ll have a few crypto exchanges to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Omg network

How to Buy OMG Network – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have OMG Network of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto exchanges.

4. Buy OMG Network

Now that you have what you need to buy OMG Network, head over to the market or buy section of the cryptocurrency exchange and buy some OMG.

If the crypto exchange doesn’t have any OMG Network on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has OMG Network first), and trade your Ethereum for OMG Network.

Where to Buy OMG Network (OMG)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell OMG Network

  1. Sign into the crypto exchange where you bought OMG Network.
  2. Move your OMG Network to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell OMG Network.

 

Crypto trading

How to Buy OMG Network (OMG) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy OMG Network in Australia, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy OMG Network if it’s available. If the exchange doesn’t have OMG Network. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has OMG Network), and trade your ETH for OMG Network.

If you’d like to learn more about the exchanges we recommend, look at our comparison of the top crypto exchanges in Australia.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy OMG Network (OMG) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy OMG Network in Canada, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy OMG Network if it’s available. If the exchange doesn’t have OMG Network. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has OMG Network), and trade your ETH for OMG Network.

You can also check out our comparison of the most secure crypto exchanges in Canada If you’re curious to know more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy OMG Network (OMG) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy OMG Network in the UK, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy OMG Network if it’s available. If the exchange doesn’t have OMG Network. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has OMG Network), and trade your ETH for OMG Network.

Also, take a look at our analysis of the best bitcoin brokers in the UK If you’re interested in learning more about which exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying OMG Network? OMG Rundown

OMG Network (formerly OmiseGo) is a layer-2, non-custodial scaling solution for the Ethereum Blockchain. OMG Network, an Ethereum scaling solution is designed to make it easier and more affordable to transfer ERC20 and ETH tokens.

MoreViable Plasma is a new scaling solution that uses sidechain architecture to group transactions off-chain into a batch. This batch can then be verified on the Ethereum root chains as one transaction. OMG Network claims that this technology can scale Ethereum up to thousands of transactions per seconds (TPS), instead of the current 10-14 tps Ethereum 2.0.

OMG utility token is the main power source of the network. It can be used to pay fees on OMG Network and it will eventually become stakable. This will help secure the network in return.

OMG Network believes that Ethereum's high speed and high cost will have to be overcome before mainstream companies will consider building products or applications on the network.

The OMG Network project was created to make Ethereum more appealing to businesses and projects looking to scale up while reducing their carbon footprint. This is possible thanks to its plasma-based sidechain solution. It can reduce electricity consumption by up to 99 percent compared to Ethereum, and fees by approximately two-thirds. Assets are still protected by the underlying Ethereum network.

Funding from the ICO 2017 initial coin offering has provided $25 million to support the platform. OMG Network parent company SYNQA raised $80 million more in Series C funding. This was supported by several investment firms including Sumitomo Mitsui Banking Corporation and Toyota Financial Services Corporation.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.