OMI Crypto: Everything You Need to Know
Posted by Frank Gogol
Updated on April 26, 2022
When it comes to cryptocurrency trading, everyone wants to make sure they find the best token and the best crypto platform. Buying, selling and trading crypto are serious matters, and one has to ensure they have found their ideal coin if they want to have the best experience.
OMI crypto is one of the tokens available, and while it is not the most popular cryptocurrency out there, it is slowly becoming more and more appreciated and well-known. It is also listed on several crypto exchanges. But what exactly is OMI crypto and how do you buy or sell it? Let’s find out!
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What Is OMI Crypto?
OMI is the cryptocurrency offered by ECOMI. ECOMI is a blockchain project that was developed in Singapore, and it also represents the company that started this project. David Yu is the CEO of the company, while Joseph Janik and Daniel Crothers are the co-founders.
ECOMI had a collaboration with ORBIS Blockchain Technologies Ltd., which ended up with them creating the VeVe platform. This platform would offer digital collectibles like digital streaming, gaming, in-app purchases, and many similar products. Previously, the name of the VeVe app was ECOMI collect.
Ever since it was launched in 2020, VeVe was available on most smartphones, whether they were iOS or Android. Moreover, over half a million digital collectibles have been sold since the application was launched. Even some of the most popular and powerful brands were attracted to the app, such as Cartoon Network, Warner Brothers, Universal Studios, and many others.
ECOMI’s Initial Coin Offering (ICO) was launched back on May 12, 2019. It also ended the next day. ECOMI managed to secure 15 licenses that year, and they also established their NFT support and cryptocurrency wallet. That is also when they added their OMI token support.
According to ECOMI, they have created the best platform in the world for buying, protecting, and collecting many licensed digital collectibles, and all of this is done through Distributed Ledger Technology. At the moment, OMI’s Coinmarketcap rank is 2404. Not long ago, the token surged 110.94%.
Why Is OMI Different?
OMI is available on various crypto exchanges. However, it is different from other main cryptocurrencies, and that is because you cannot use fiat currencies to buy it. In order to obtain it, you will have to purchase Bitcoin from a larger crypto exchange and then transfer it to the exchange where OMI is offered.
How to Buy OMI Crypto
Are you interested in buying OMI crypto? Well, we are here to help you figure out the entire buying process. Here are the steps you will go through to buy this cryptocurrency:
Register on a Crypto Exchange
First things first, you will have to register on a cryptocurrency exchange to get OMI. Coinbase is a great option as it is one of the most popular ones.
But you won’t be getting the cryptocurrency directly from Coinbase. Instead, you will buy another cryptocurrency that can then be traded for OMI. Bitcoin and Ethereum are two cryptos that can help you obtain OMI.
So, register on Coinbase. Then, confirm your account with the confirmation email. Click the link in the email, and then offer a valid phone number. This will let you set up 2-factor authentication. Then, you will have to follow the next step to complete your identity verification.
When the registration process is finished, you will have to purchase your cryptos. First, you should add a payment method, which can either be a bank transfer or credit/debit card.
Bank transfers are slower and cheaper, whereas card transfers will be faster but will charge you some fees. It all depends on a series of factors, such as your location.
To purchase cryptocurrencies, you will have to click the “Trade” button that can be found at the top left. Select the crypto you wish to purchase and then confirm your transaction.
Transfer the Amount to an Altcoin Exchange
When you have your cryptos, you should go to an Altcoin Exchange and trade your funds for OMI. OMI is an altcoin, so you can only get it using this method. Gate.io is a good platform for this.
You will first have to sign up on Gate.io. The registration process is similar to the one on Coinbase. Also, you should set up 2FA authentication here for extra safety.
Deposit Crypto to Make the Exchange
Another KYC process may be necessary depending on the exchange’s policies, which may take between 30 minutes or a few days. This should let you access your exchange wallet once it’s done.
There will be a BTC address at the box on the right of the screen, and you can use this to receive Bitcoin. To transfer Bitcoin to it, you should click on “Copy Address” or you can just right-click on the full address and then click copy in order to grab the address to the clipboard. Then, you should go to Coinbase, then to the Portfolio page. When you find Bitcoin, you should click on “Send”.
There will be a Recipient field where you can paste the address of the wallet from the clipboard. To continue, click “Send”. Then, click the confirmation link from the email you receive and you can obtain your coins. When your deposit has arrived at Gate.io, you will get a confirmation notification.
Now, you should go back to Gate.io and then to the “Exchange” section. You will then find a search bar in the right column and you should select “BTC” or whichever crypto you want to trade. After clicking on it, you should type “OMI” and “OMI/BTC” will pop up. Choose that pair.
There will be a “Buy OMI” button, and from inside the box you should pick the “Market” tab. Type the amount you want to spend on this and click “Buy OMI”.
How to Sell OMI Crypto
Selling OMI can be done using the same exchange you used for buying it.
First, you will have to sign in on this exchange. If your amount is stored in a digital wallet, you should compare crypto exchanges you can sell it on. Then, you should choose the amount you wish to sell and place the sell order. Next, all you have to do is confirm the price and fees of the action and close the sale. Your transaction is complete.
Considerations When Buying OMI Crypto
There are a few things to keep in mind when you buy OMI. For example, the supply is pretty limited, as there are only 750 billion tokens. The first 20% was offered in the first public and private sales, which was 150 billion tokens. Then, 40% of the supply, which is about 300 billion tokens, was locked away in reserves. So, it will never join the main supply.
Also, you should know that ECOMI is becoming more and more popular as it has partnered with reputed brands like Major League Baseball, National Football League, and many others.
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If you wish to purchase OMI, you need to know where you can get it. Since it’s an altcoin, you can only buy it on certain exchanges. Furthermore, you will have to buy another crypto and then exchange it for OMI. Hopefully, this post was informative enough and will help you trade OMI successfully.
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