OmiseGo Trading - How To Trade OMG

The newly developed platform was created by fintech. And that company that was established out of Thailand is called Omise. They recently rose over $15 mill USD through their first ICO to create the token called MOG. The company gives user abilities similar to Stripe with the same type of functionalities. It's primarily used to receive payments, with the hopes of it becoming the Stripe of Asia. 

Why OmiseGO (OMG) Vs. Bitcoin?

One of the main differences is that OmiseGo was developed on the Ethereum network - not the same technology as that of Bitcoin. They have the goal of being a decentralized platform that processes payments for retailers with the primary purpose of disrupting the more traditional payment methods and processors.

It's said to be the answer to the fundamental coordination issues that have arisen throughout the payment processors, financial institutions and other gateways. The main idea behind the platform is to give the user access to shared funds without the need for a bank account. Also, they are attempting to eliminate fees that happen when people try to process payments across borders. Often processing international payments can cost a tremendous amount in fees. Omise is seeking to remove that problem with the OmiseGo platform. They also want the platform to help providers get paid out as well. It's a promising approach in the cryptocurrency market.

What Makes OmiseGO Unique Vs. Other Cryptocurrencies?

The Best Cryptocurrency Brokers + Trading Platforms

Our Rating Description Minimum Deposit Regulation Visit
5
  • The leading Social Trading platform with 4.5m traders
  • Follow other traders or be a leader
  • Personal service and VIP perks

$200

FCA, CySec, ASIC

Visit Broker
eToro Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5
  • Free forex signals + market research
  • Online education and webinars
  • Fee free withdrawals and deposits

$5

CySEC, FSP, ASIC

Visit Broker
XM Review
Risk Warning: Your capital may be at risk
5
  • No commissions and low spreads
  • Advanced trading tools
  • Minimal account fees

€100

FCA, CySec :

Visit Broker
Plus500 Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4.5
  • Stylish & Powerful Platform
  • Trade Bitcoin + 12 Other Top Cryptocurrencies
  • Plus Forex, Options, Stocks & ETF Trading

$10

CySec

Visit Broker
IQOption Review
Risk Warning: Your capital may be at risk
4
  • Tight spreads without commissions
  • Advanced charting tools

$100

CySec

Visit Broker
Markets.com Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4
  • Choice of two professional trading platforms – TraderPro and MT4
  • Free trading course for deposits over £1,000
  • Choice of Forex, CFDs, Spread Betting and Cryptocurrencies

€100

FCA

Visit Broker
ETX Capital Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2

10

Visit Broker
OLYMP TRADE Review
Risk Warning: Your capital may be at risk

One of the main reasons OmiseGo stands out is because it's backed by Omise. This is important because Omise is already a well-established company. It’s a respected company that a lot of people trust and has the capital to take Go to a new height in the payment processor/cryptocurrency industries.

To put it into perspective, Omise was founded back in 2013. It's a joint venture-backed company that processed payments out of Thailand, Singapore and Japan as well as Indonesia. The platform has a board of advisors that is made up of people from Ethereum like the creator – Vitalik Buterin and Joseph Poon. Poon is regarded as the computer scientist who co-wrote the influential Lightning Network white paper report and even the white paper for OmiseGO.

Why would these powerhouse giants help so much? Because the payment processing industry is massive; it's one of the largest on the planet that is moving into the realm of more than $3.6 trillion a year. Processors typically get a percentage for processing orders, so you can imagine how many hundreds of billions a year are getting paid out to processors.

You already know, have used and are quite familiar with the most massive payment processor, Visa. Other's include Mastercard, Alipay, and Wechat, just to name a few. They process billions every day on a global scale. The main issue with them all is that they operate on a close-talked system that makes communication between them impossible. Here's an example, if a customer has a PayPal account, he can't send money to his AliPay account. OmiseGo is looking to change the way processing payments work with the help of blockchain technology.

OmiseGo is a platform that, like Ethereum, allows it to make other projects build on top of it. It has the potential to be a very profitable system for investors who get in while it's still in the early stages of development. 

There are millions of mainstream users on one of the largest economies in the world who would be able to make the transition from fiat money to ETH, BTC and the other cryptocurrencies with the help of a platform like OmiseGo.

Best OmiseGO Trading Strategies

The OMG platform is designed to run on a permissionless proof of stake network. This means that token holders would be able to put their holdings down for securing the system. In return, they'd receive OMG tokens.  This would apply to all ETHER holders who have a balance of 0.1 eth or more in their wallet. They do this to help make the network more secure, stronger and attractive. It's possible for hundreds of thousands of ETHER holder to become validators on the PoS system used by Omise Go.

It looks like a great project for people of all levels to get behind. There is a large team, made up of some of the most important names in the industry. And it offers real-life applications for people all over the world. And even though the price has gone up since the ICO, there is still time to invest and grow your holdings exponentially. 

Undefined

Related Articles

  • Company Overview ETX Capital was originally established in 1973. ETX is the brand name used for the holding company Monecor Ltd. Currently, this...
  • Founded in 2007, eToro is the world’s leading social trading platform. During its inception, eToro’s founders set out to create an online trading...
  • Markets.comCompany Overview Markets.com is a brand and trademark used by Safecap Investments Ltd. Markets.com provides an online Forex and CFD...
  • Company Overview Olymp Trade is a universal online trading platform where you can trade currency pairs, commodities, stock indices, companies’ shares...
  • XMCompany Overview XM is a trademark that has been registered by Trading Point Holdings Ltd., a company which owns a number of other trading...
  • Company Overview Due to standing out in the financial world for years as a popular and customer-friendly binary options trading site, we took it upon...
  • Company Overview The company was established in 2008 and this company offers an online CFD service. Currently, Plus500 has a platform that has...

Risk Warning

Your capital is at risk. Trading in Forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss.  The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This website is provided for informational purposes only and in no way constitutes financial advice. A featured listing does not constitute a recommendation or endorsement.

About ForexTrading.Company

Forex Trading.Company was established to provide global traders a deep and insightful source of information on forex trading strategies and indicators. With guides for everyone from beginner traders in Bangladesh to advanced strategists in Hong Kong we want the world trading community to benefit from our in-depth broker comparison + reviews, features, and commentary. We list the world's top regulated and authorised brokers suitable for a global audience.

We aim to think global, act local with our website, so that whether you're in Asia, Europe or Africa you can gain from our content on the world's biggest market.

About Us & Contact Sitemap