How to buy ECOMI (OMI) in Australia
Learn how to buy ECOMI (OMI) on 2+ crypto exchanges in our step-by-step guide.
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You can buy ECOMI (OMI) on a cryptocurrency exchange like Gate.io. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. OMI is the native utility token that supports the underlying economy of the ECOMI Collect ecosystem, now known as VeVe. Here's how to buy ECOMI.
How to buy ECOMI in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy ECOMI is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – cryptocurrency, bank transfer, ideal and PayPal payments are widely accepted.
- Buy ECOMI You can now exchange your funds for ECOMI. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your ECOMI to your personal wallet.
Where to buy ECOMI in Australia
Find an exchange to buy, sell and trade OMI by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy ECOMI?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy ECOMI?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading ECOMI.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing OMI with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy ECOMI with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy OMI with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy OMI on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase OMI by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for OMI on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy ECOMI?
The easiest way to buy OMI is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying OMI, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of ECOMI has been performing recently.
Best ECOMI wallets to store your OMI
You can keep your OMI on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is ECOMI a good investment?Below are the key aspects you need to weigh before you add OMI to your investment portfolio:
- Limited supply. The number of OMI tokens to ever be created in its lifetime is limited to 750 billion tokens. 20% of the total token supply was offered in initial private and public sales, amounting to 150 billion tokens, which is currently in circulating supply. The initial raise had a hard cap of 1,500 BTC. Also, 40% of the total supply, 300 billion tokens, is locked away in reserves and will never be a part of the circulating supply. The reserves are held for the VeVe reserve wallet, VeVe vault wallet, business development teams for long-term initiatives, and the team, advisers and board members of the project.
- Partnerships. The marketplace has partnered with highly reputed brands and organisations like Batman, Superman, Harley Quinn, Ghostbuster, the National Football League (NFL) and Major League Baseball (MLB). These high-profile partnerships provide credibility and trustworthiness to the platform as such brands and companies don’t partner with entities without doing thorough due diligence on them.
- Master Collector Program. This is indirectly a staking mechanism for the OMI tokens. It allows you early access to NFT releases, limited edition collectibles, airdropped tokens and more. The coins are staked in a section of the application wallet called The Powerchest. Eligible users will start at Level 1 of the program and as time progresses, they are segregated into an appropriate level based on factors like the number of tokens held in the wallet, purchase and sale history, community votes, and interactions.
- Augmented Reality (AR). One of the unique features of the platform is the AR tools. These tools enable you to bring your digital collectibles to life, out of your smartphone and project them into virtual reality while using the VeVe mobile application.
Additional information about ECOMI can be found using our OMI analysis tools.
Today's ECOMI price versus ATH
Compare today's price of ECOMI ($0.00147663 USD) against its all-time-high price of $2019-11-04T10:52:42.729Z USD on 01 January 1970. The closer the bar is to 100%, the closer OMI is to reaching its ATH again.
ATH date: November 04, 2019
ECOMI ATH: $0.01343572 USD
How to trade, convert or sell ECOMIYou can convert or sell your OMI with the same exchange you bought it through:
- Sign in to the exchange you have OMI on.
- If you store your ECOMI in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of OMI you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of ECOMI.
- Complete your transaction and move your OMI to a wallet for storage.
Disclaimer: Cryptocurrencies, including ECOMI, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of OMI is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the ECOMI or any other cryptocurrency discussed.
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