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The OmiseGO project can become a bridge between cryptocurrency and legal tender. This technology, subject to a successful implementation, will be very popular in the market. In this article we will talk about the OmiseGO project, we will discover its strengths and weaknesses, storage options, key figures and understand if it is worth investing in it.
Contents:
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- What is the OmiseGO cryptocurrency?
- Main advantages of money
- Main disadvantages of money [19659005] OmiseGO in figures
- Where to buy and how to store OMG?
- Conclusion [19659010] 1. What is the OmiseGO cryptocurrency?
OmiseGO is a platform solution that you can use to make exchange transactions and online money transfers.The main feature of the platform is the simultaneous support of cryptocurrency and ordinary money (dollar, yuan, euro, etc.).
How can it be used in practice? For example, a buyer from the UK who has British pounds want to buy something from a US seller who accepts payment only in Bitcoin . Through this platform, the buyer sends pounds, OmiseGO converts them almost instantly into BTC and transfer them to the seller's portfolio. It should be noted that the platform takes a minimum commission in OMG tokens.
2. The main advantages of money
The prospects for OmiseGO are enormous, as the project has a series of strengths, which we will reveal to you:
– an open protocol and a simple integration with almost all blockchain networks;
– high yield
– high level of protection against hacker attacks
– supply with large national legal currencies
– the demand for technology in the market
– strong partners (Bitcoin Suisse AG, Founder of Ethereum Vitalik Buterin main developers of MakerDAO, GOLEM, etc.)3. Main disadvantages of money
Those who follow the news of OmiseGO recalls that the main disadvantage of the project is that the development team did not follow the road map originally presented by them. During the ICO period of January 2017, developers indicated the deadline for the launch of the OmiseGO Network platform by the end of the year. Subsequently, the road map was changed and the current deadline dates back to the fourth quarter of 2018. This has significantly affected the mood of investors, which led to a sharp drop in the exchange rate.
In addition, some experienced traders declare that traces of manipulation can be found in the chart of the fluctuation of the value of money, since sometimes a sudden increase or decrease can not be explained either by the market stage or by the background of the news.
4. OmiseGO in numbers
- the number of tokens is 140 million, was issued only once, the OmiseGO extraction is not available,
- the exchange rate (as of August 8, 2018) is $ 4, 12;
- market capitalization is $ 579 million;
- 21st place in the global Coinmarketcap ranking.
5. Where to buy and how to store OMG?
This currency can be purchased on almost all the most widespread cryptocurrency exchanges (Binance, Bithumb, OKEx, Cryptopia, etc.). However, the storage problem has not yet been completely solved. The fact is that the developers claim that making transfers or exchange transactions will only be possible with the help of an official portfolio. But there is a small nuance, the wallet has not yet been launched. Only the first beta version was released at the beginning of spring, which has yet to be tested and modified.
Now the only option for storing OMG is the wallets that support the ERC20 token format. The most reliable are:
- MetaMask;
- MyEtherWallet;
- Exodus.
You should know that the above portfolios do not support this default currency. To start using them, you need to go to settings and add "OMG". If the list does not appear, you must manually enter the address of the coin, which can be found here .
6. Conclusion
This project has good prospects for the future, as long as the development team can successfully implement its plans on time. Some experts give an optimistic forecast for OmiseGO – about $ 100 per currency. If you decide to invest in this project, you should probably adapt to a long-term perspective, as the platform still requires many improvements.
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