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OmiseGo (OMG) is an Ethereum-based blockchain ecosystem that offers investors a variety of ways to earn profits. Specifically, OmiseGo is a decentralized exchange, a liquidity provider mechanism, a messaging network and a blockchain gateway with digital assets. The platform has earned a reputation for its alternative financial and digital commerce tools. These systems work together to enable cross-chain asset transfers without the need for a crypto exchange.
From the start, it was clear that OmiseGo was going to be different. Both the Bank of Thailand and the Thai Ministry of Finance alluded to the project with a nod of approval. The project also saw support from the Ethereum camp, Vitalik Buterin and Gavin Wood.
OmiseGo (OMG) – An experienced team
Furthermore, the lead developer of the project is none other than Joseph Poon. He is best known for developing both Lightning Network and Plasma. Both of these second level protocols have the potential to revolutionize the market going forward. His experience has contributed to making OmiseGo a unique project on the market.
OmiseGo Homepage
Notably, OmiseGo was the first Ethereum project to pass a $ 1 billion valuation. Impressively, the project secured the support of a myriad of established investors right from the start. These investors include Japan’s Toyota Financial Services Corporation, Sumitomo Mitsui Banking Corporation, SMBC Venture Capital, and Aioi Nissay Dowa Insurance Corporation. These developments have helped build the trust of people looking to participate in the OmiseGo platform.
What problems does OmiseGo (OMG) try to solve?
OmiseGo seeks to revolutionize the world through its open approach to financial services. The goal of the project is to create a more inclusive financial system. To carry out this monumental task, OmiseGo works directly with banks to help promote greater financial inclusion globally.
According to recent reports, there are 1.7 billion people around the world who lack access to basic financial services. These individuals include a wide variety of people. There are people who may live in an area that does not have the infrastructure to support banks. There are also people, such as refugees, who are unable to benefit from banking services due to a lack of paperwork.
OmiseGo’s goal is to create a product that benefits those who use traditional banking services and people who don’t have access to banking services at the same time. It is this philanthropic aspect that makes OmiseGo different from many other projects on the market today. It’s also one of the main reasons the platform continues to see growing adoption.
Benefits of OmiseGo (OMG)
OmiseGo facilitates cross-platform payments on the blockchain. This open payment and decentralized exchange platform resides on the Ethereum blockchain and provides a scalable and fully open alternative for users. OMG enjoys low fees, fast transaction times and withdrawal options. In June, OMG introduced a new scalability solution that improved transaction speed on par with global payment processors such as Visa.
Global
The OmiseGo team built the platform to be inclusive globally. Anyone can use its value transfer services. The platform operates in different currencies and asset types. This way, users can send funds over the network without having a bank account or paying a commission.
OMG – Twitter
Blockchains work together
At the heart of OmiseGo is an interoperability protocol. OmiseGo acts as a decentralized exchange of other blockchains and between multiple blockchains directly without a reliable token gateway. Cross-chain functionality is a key feature found in new blockchains. It reduces competition and allows purpose-built blockchains to focus on improving services rather than competing-based spending like marketing.
Endless use cases
OmiseGo is extremely flexible. Users can make payments, money transfers and manage payroll accounting. The platform supports B2B trade commerce, supply chain financing, loyalty programs, asset management and trading. Few blockchains match OmiseGo’s capabilities right now.
How does OmiseGo (OMG) work?
OmiseGo enjoys the security of Ethereum (ETH) with some advantages. The platform introduces features such as a white label wallet, zero fees, and near-instant transaction times.
White label electronic wallet
OmiseGo’s white label eWallet is a big draw for users. This SDK wallet makes it easy for users to freely trade in fiat and cryptocurrencies. The wallet includes access to the Omise payment gateway. You also have a digital credit and debit card at your disposal.
OMG Token
OMG is the utility token for the OmiseGo project. Users and developers can use OMG to pay for services on the network. The token consistently ranks as one of the ERC-20 tokens with the highest market capitalization globally. Wisely, the developers have set a total limited supply of only 140.245 million OMG coins. This decision ensures that OMG will hold its value for years to come.
OmiseGo (OMG) via CoinMarketCap
History of OmiseGo (OMG)
OmiseGo was founded by Jun Hasegawa and Donnie Harinsut. These two entrepreneurs were already well known for their role in the creation of the famous payment processing company, Omise. In 2017, OmiseGo hosted an ICO which received international coverage. OmiseGo secured $ 25 million during the event to further develop the network.
How to get OmiseGo (OMG)
OMG is easy to find nowadays. One of the best exchanges to find OMG is Binance. Binance is a great exchange for new users due to its simple interface and large selection of coins. You will need to register with the account before you can trade. Registration will require you to meet KYC requirements.
Once your account has been approved, you will need to fund it. You can choose to upload fiat currency or, if you already have cryptocurrencies, you can send it directly to the exchange wallet. Now that you have loaded some Bitcoin or Ethereum, you can choose the OMG trading pair according to your needs.
How to store OmiseGo (OMG)
You will need to decide what your investment strategy will be in order to determine the best way to file your OMG. If you are trading casually to familiarize yourself with the cryptocurrency market and are not trading much value in cryptocurrency, the exchange wallet will suffice. It is always best to download a personal portfolio such as reports. Mobile wallets will give you more flexibility and are a little more secure than exchange wallets.
If you plan to make major investments in OMG, we recommend that you purchase a hardware wallet. Both Ledger and Trezor support this cryptocurrency. Hardware wallets protect your cryptocurrencies by introducing a “air gap.“This means that your encryption isn’t stored online. It stays in the cold room safe from hackers.
OmiseGo: a noble cause with great support
OmiseGo is one of those projects on the market that help you understand that blockchain technology has the power to improve everyone’s life. You can expect OmiseGo to see continued adoption as a token, and the platform remains a firm favorite with investors.
