Top Reasons to Invest in OmiseGO (OMG) in Australia
Recently, a number of people have started to invest in OmiseGO (OMG). The number continues to grow today in Australia and the rest of the world. It’s not a surprise though, since this altcoin is offering a lot of potentials and advantages.
Now to help you decide whether or not the choice to invest in OmiseGO (OMG) is interesting enough, we’ll talk about it.
Let’s start with the basic.
What is OmiseGO (OMG)?
OmiseGo is a project that the Thai company Omise created as one of the leading online payment processors in Asia, similar to US-based platforms such as the popular payment method Paypal.
The project describes itself as: “the answer to a fundamental problem of coordination between payment processors, gateways and financial institutions.” Although it is obviously a cryptocurrency, its objective is not especially this, what OmniseGo intends is to offer users an alternative to online exchanges.
OmiseGo is an eWallet electronic tag, a smart contract platform and an ERC-20 token, which uses a Proof-of-Stake (PoS) algorithm. Although they use the Ethereum network for their operational processes, they are developing a symbiotic relationship with the network by acting as a scaling solution.
The exchanges mostly require their users fiat money when acquiring any cryptocurrency. OMG can be defined as a decentralized bank, an exchange and a blockchain gateway at the same time with asset backing. Plus, investing in OMG is a great plan from a profit perspective.
How does OmiseGO work?
One of the main functions of OmiseGO is to act as a decentralized exchange (DEX) platform. That is, as a publicly distributed system that allows peer-to-peer transactions that are not limited by OMG tokens. Since decentralization is a key aspect of the project, neither Omise nor OmiseGo will influence the network.
Thanks to this system, the cryptocurrencies of any wallet as well as the keys of the users are not stored in the Exchange servers, but in its blockchain and therefore, in all the nodes of the network. The gas that drives this entire ecosystem is its OmiseGO (OMG) token.
Through these parameters, OmiseGO uses a peer-to-peer network of computers where each user represents a node and in which servers and clients operate simultaneously with respect to the other network nodes, thus allowing the easy and fast exchange of information between interconnected users.
A short history of OmiseGO (OMG) price
OMG has brought juicy returns to everyone who invested since the token’s launch. Debuting with a price tag of AUD $0.94 in 2017, OMG would hit $32 in less than a year, which surprised everyone in the market.
After this upward trend, the price began to fall periodically until it lateralized between $1 and $2.67. OMG’s current price is $2.57 and it is expected to hit higher price levels again. This is not so far-fetched considering that it has already happened and that market fluctuations seek previously experienced levels.
This token could hit $30 again this year if a strong bullish trend can be consolidated. Notably, the cryptocurrency market has been making higher highs for a couple of months now, so now is an excellent time to invest in OmiseGO (OMG).
Why should we invest in OmiseGO (OMG)?
Investing in OMG can result in receiving benefits in the short, medium and long term, although it is not only about the money as this network is designed to make life easier for users.
Here are some reasons why we should invest in OmiseGO (OMG) as soon as possible:
- When paying with OmiseGO you will not need to have a bank account because your digital wallet will suffice.
- It offers a free programming framework (SDK Wallet) this is used to develop digital wallets for companies and banks. OmiseGO provides the technology for them to develop the wallets in such a way that they are easy to program and easy for users to use.
- OmiseGO also offers us a solution so that we can instantly redeem and / or exchange anything that has economic value on the same platform, as is the case with loyalty points.
How to start investing in OmiseGO?
OMG is a popular cryptocurrency, so you can get them practically in any of the best-known exchange houses worldwide: Binance, Huobi, Bittrex, Kucoin, etc … However, it is not very common to find exchange companies that allow you to buy OMG tokens with AUD directly, as the most used pairs are OMG / ETH and OMG / BTC.
If you want to buy OmiseGO (OMG), we are happy to inform that Australian residents will be able to use Easy Crypto Australia (AU), an exchange platform where you can buy OMG through bank wire transfers with AUD. After creating an account and completing KYC requirements, you can buy this cryptocurrency and many others available.
Now you know what OmiseGO (OMG) is, what do you think about it? Are you going to purchase OMG tokens in Australia today?
We are always happy to help 🙂