Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy OMG Network. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good number of trusted and regulated cryptocurrency trading platforms, so it’s quite easy finding an exchange that has OMG Network. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy OMG Network in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has OMG Network in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying OMG Network, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer OMG Network.
If you’d like to learn more about the exchanges we prefer, read our comparison of the where to buy cryptocurrency in Australia.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy OMG Network, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy OMG Network
The final step is to go to their asset list, find OMG Network, navigate to the buy section, and then trade your AUD for some OMG. Once you’ve bought OMG Network, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy OMG Network (OMG)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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How to Sell OMG Network
If you’re thinking about selling OMG Network, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on OMG Network in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell OMG Network for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying OMG Network in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy OMG Network with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find OMG Network. Have a look on their site first, you might be lucky.
How to buy OMG Network with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy OMG Network with your credit/debit card.
About OMG Network
OMG Network, formerly OmiseGo, is a layer-2, non custodial scaling solution to Ethereum. OMG Network is an Ethereum scaling solution that makes it simpler and less expensive for users to transfer ERC20 or ETH tokens to the Ethereum network.
MoreViable Plasma is used as the scaling solution for this network. Sidechain architecture is used to group transactions from different chains into one batch, which can then be verified using the Ethereum root blockchain. OMG Network claims this technology can scale Ethereum to thousands upon millions of transactions per second (TPS), rather than the 10-14 tps Ethereum 2.0 currently supports.
The OMG utility token acts as the main power source for the network. You can use it to pay fees for OMG Network. It will eventually become stakable. This will secure the network's return.
OMG Network believes that Ethereum's high price and speed will need to be overcome before major companies consider building applications or products on the network.
OMG Network was established to make Ethereum more attractive to businesses and projects that want to scale up, while also reducing their carbon footprint. Its plasma-based sidechain solution makes this possible. It can cut electricity consumption by as much as 99 percent, and fees by around two-thirds compared to Ethereum. The underlying Ethereum network will continue to protect assets.
The platform has received $25 million in funding from the initial coin offerings (ICO) in 2017. OMG Network parent company SYNQA raised $80 millions more in Series B funding. This funding was also supported in part by several investment firms, including Sumitomo Mitsui Banking Corporation (Sumitomo Mitsui Banking Corporation) and Toyota Financial Services Corporation (Timco Financial Services Corporation).