What is OmiseGo? 

OmiseGo is a financial technology platform built on top of the Ethereum network. 

OmiseGo provides the ability to exchange OMG token for fiat currency.

The main idea of ​​the project is the ability to send and receive payments in real time. At the same time, it will be possible to do without the participation of banks, and the commission will be minimal.

What is OmiseGo?
What is OmiseGo?

Platform operation scheme 

The principle of the platform is as follows: the buyer pays for a product or service in a currency convenient for him (crypto or fiat), and the seller receives payment in the money he needs. A similar scheme is relevant for financial communication between foreign companies and individuals in the field of partnerships and online purchases. In addition, on this platform, you can implement mechanisms such as social payments and salaries.

The platform uses OMG cryptocurrency to optimize the process of issuing electronic money and exchanging assets.

OMG Network users use OMG cryptocurrency to pay for the work done by the blockchain. This means that every time you use an OMG Network contract, you have to pay to OMG, which is then allocated to the nodes on the network that make the network work properly.

How did OmiseGo start? 

OmiseGo is an offshoot of the Thai payment system Omise, which was founded in 2013.

At the beginning of its existence, Omise's main focus was fiat-based transaction and settlement services. However, after virtual coins began to gain popularity, the company decided to change how it worked and gradually moved to digital finance.

In 2017, Omise announced that they are working on the blockchain, and are also preparing to launch a new project - OmiseGo. It was then that the company announced the start of the ICO. Since the demand for coins was very high, the ICO had to be completed ahead of schedule. After all, almost all the coins were scattered at the very beginning of trading.

On the exchange, the OMG ticket was assigned to the OmiseGo cryptocurrency. At first, the currency worked on Ethereum. However, it was later transferred to its own blockchain. Due to this, many positive reviews about the reputation of the coin followed in the world of cryptocurrency, and all this had a beneficial effect on its value in the market.

OmiseGo is more than just a payment service. Over the years of its activity, Omise has acquired many partners in the face of large companies. In 2020, OmiseGo rebranded from testnet to mainnet. From that moment on, the company became known as OMG Network.

OmiseGo network
OmiseGo network

The main differences between OmiseGo and other systems 

Among similar systems, OmiseGo is distinguished by the following points:

  • High level of security. The platform works with decentralized currencies, the storage of which is organized according to the same principle.
  • Wide availability. To work with Omise, you do not need a bank account, the company itself will have a certain reserve of national currencies.
  • No scalability issues. All calculations will be carried out efficiently and quickly, regardless of the network load.

As a result, we can invest in OmiseGo in Qatar, which will allow us to conduct fast transactions with low commission costs.

Token OmiseGo 

The OMG cryptocurrency is the native token of the OmiseGo network, based on the Ethereum protocol. Tokens are needed to work within the network. If you want to conduct a transaction or fulfill a contract, you must pay with OMG Coin.

The token became the first in the history of ICO, which raised more than a billion dollars of capitalization.

Every time someone uses the network, they pay with OMG coin. The token is then sent to nodes or validators that enforce smart contracts according to the rules of the network. These nodes link the OMG coin to the smart contract. If you create your own contract, you can earn income from staking your tokens. In case of non-fulfillment of the terms of the contract or violation of the rules, the coins can be withdrawn. Such a system helps to limit the number of tokens in circulation, while maintaining their value, and to protect against spam.

Buy OMG 

OMG is rapidly gaining popularity, the project team is constantly releasing new services that attract the attention of large investors. The number of exchanges and specialized services where you can buy OMG cryptocurrency is increasing.

To get OmiseGo tokens, you need to buy them on a cryptocurrency exchange. Going into your account in the search, specify the OMG ticker and select the desired currency. Then create an OMG sell or buy order, select the order type, specify the amount and rate. After all this, click "Buy" or "Sell". So after the above steps, you will start investing in OmiseGo in Qatar.

OMG tokens are highly liquid and can be purchased or sold on over 200 different exchange platforms.

OmiseGo mining is not provided, as the system uses the PoS algorithm. Mining has been replaced by rewarding the most active users as an incentive.

The amount of remuneration for confirming a transaction according to the Proof of Stake model (PoS, proof of ownership) depends on the activity of the node and the size of the balance. This is the only way to get OMG for free.

OmiseGo is a powerful investment vehicle, which is why many buyers buy and hold in hopes of making a profit. OmiseGo helps you invest with ease and provides all the tools you need for your strategy. Whether you are a newbie or a seasoned investor, OmiseGo has simplified the buying process by offering multiple payment methods to choose from.

How to buy OmiseGo?
How to buy OmiseGo?

Invest in OmiseGo in Qatar 

The cryptocurrency market provides traders with many opportunities. You can invest in OmiseGo in various ways - by buying cryptocurrency on the exchange through a crypto wallet or through the platform (CFD trading).

CFD trading 

Many Qatari citizens are familiar with cryptocurrency trading from personal experience. The basic principle is simple - by buying a cryptocurrency at a low price, you sell it at a higher price and earn on the difference. If investing on an exchange (in other words, spot trading) is not a new phenomenon, then CFD trading on cryptocurrencies has appeared quite recently. Crypto CFDs allow traders to play on fluctuations in the rate without the need to purchase cryptocurrencies. That is why this fact has caused a wave of interest in CFD trading. The advantage of crypto CFDs is the ability to trade without actually having cryptocurrencies.

Buying OmiseGo through the trading platform
Buying OmiseGo through the trading platform

A Contract for Difference (CFD) is a type of financial derivative that acts like a contract between a broker and a trader. In the case of a crypto CFD, a trader does not own a cryptocurrency at the conclusion of an agreement, and the profit depends on the forecast for changes in the exchange rate.

If the forecast turned out to be correct, then the profit will be equal to the sum of the change in the value of the asset plus the interest paid to the broker. The loss is calculated in the same way.

The main difference between CFDs and spot trading is the ability to use leverage. Traders can operate with amounts that significantly exceed their deposit, which allows them to significantly increase their profits. However, in case of failure when trading with leverage, the losses also increase.

Benefits of OmiseGo 

The benefits of OmiseGo include the following:

  • high-performance system and unique technology that significantly increases the speed of transactions. A decentralized platform for exchanging fiat and cryptocurrencies online is the main advantage of OMG, which allows it to stand out from the competition;
  • scalable network makes it possible to enter the blockchain without external permissions;
  • an efficient algorithm that controls the liquidity of financial instruments.

In general, the platform is very high quality and promising. Its capitalization is growing steadily. The coin enjoys great success among users.

The developers have made the use of OMG as comfortable as possible for users. All fiat currency within the system are available for exchange for cryptocurrencies. The exchange process takes place in the shortest possible time. The key features specific to OMG are:

  • Peer-to-peer transactions are performed through a virtual wallet.
  • Blockchain to confirm transactions.

The network scales and efficiently protects money transfers with Proof-of-Stake. Blockchain allows you to reduce the waiting time for transactions. This improves the quality and number of operations. During its work on the market, the service has managed to win the trust of many users who use the platform's services to carry out various settlements. The OmiseGo blockchain is fast. It is optimized so it does not overload the network. Users have the opportunity to conveniently pay for purchases with any, not even the most popular, cryptocurrency. In this case, the seller will receive money in the banknotes of his country.

OmiseGo : trading conditions
OmiseGo : trading conditions

Why buy OmiseGo? 

As soon as the OmiseGo project was launched, it immediately attracted increased attention in the media and received strong support from investors. At the initial stage, this is a very good achievement. The OMG cryptocurrency has tremendous potential. So buy OmiseGo in Qatar in the long run now is the time.

The OmiseGo platform development team has extensive experience in implementing fiat money projects. In addition, among the advisors, and therefore, to some extent, the guarantors of the project, there are individuals widely known in the field of cryptocurrency development, for example, the Ethereum development team.

In a few months since its inception, the value of OmiseGo coins has increased by a little more than 100 times. This suggests that the price will continue to grow further, which means that the OMG currency is a good instrument, at least for short-term investment. Those wishing to make long-term investments in the system can be recommended to observe the situation on the market.

OmiseGo (OMG): current information
OmiseGo (OMG): current information

With the active improvement of the OmiseGo platform, it has every chance of taking one of the leading positions among the competitors of the cryptocurrency market.

So invest in OMG and stay tuned to the latest OmiseGo news for the latest trends, events and project updates.

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