How to buy, sell and trade OmiseGO (OMG) in Australia

Learn more about where you can buy the OMG token, how it works and what you need to know before buying.

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Omise, the team behind OmiseGO (OMG), aims to create a blockchain-based electronic payments platform that accepts all kinds of fiat and cryptocurrencies. Omise seeks to facilitate exchanges around the world at lower costs than traditional payment platforms. Although trading activities on the platform will take place on existing blockchains, primarily the Ethereum (ETH) blockchain, Omise plans to create its own blockchain to streamline cross-blockchain transactions. With the OMG token, you can participate in validating transactions on the OmiseGO blockchain and earn fees in the process.

If you want to learn more about buying OMG, how OMG works and things to consider before buying it, keep reading.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
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Quick guide: How to buy OMG

  1. Register for an account with a cryptocurrency exchange like CoinSpot.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click “Deposit AUD”.
  5. Transfer funds into your account.
  6. Click “Buy/Sell” at the top of the screen.
  7. Search for the cryptocurrency you want and click “Buy”.
  8. Enter the amount you want to buy, or the amount of AUD you want to spend.
  9. Review the transaction details.
  10. Click “Buy”.
Go to CoinSpot's site

This is our quick guide to just one way to buy OMG. Compare some other options in the table below.

Where to buy OMG in Australia

You can buy and trade OMG on several cryptocurrency exchanges, including the following:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

270
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

297
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

262
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
CoinJar Cryptocurrency Exchange
Cash, Credit card, Cryptocurrency, Debit card, Bank Transfer (PayID/Osko/BPAY)
AUD, GBP

24
cryptocurrencies

CoinJar offers a simple way to buy, sell, or trade cryptocurrency with AUD. Enjoy free and instant deposits, fees start from 0.05% and withdrawals are free to your bank account
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

158
cryptocurrencies

Finder Exclusive: New members get $10 bonus after first trade. T&Cs apply.
Buy 150+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

266
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Easy Crypto Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi
AUD

53
cryptocurrencies

Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

119
cryptocurrencies

Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, earn up to 8% on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

212
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Independent Reserve Exchange
Cryptocurrency, SWIFT, Osko, PayID, EFT
AUD, NZD, USD

15
cryptocurrencies

Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
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Compare up to 4 providers


A step-by-step guide to buying OMG

If you want to know how to buy OMG on an exchange, you might follow this example:

Step 1. Create an account on a cryptocurrency exchange that lists OMG

Select a cryptocurrency exchange that enables trading with OMG using either fiat currencies or cryptocurrencies. One such exchange based in Australia is Coinspot, where you can pay in AUD.

When you create an account at an exchange, you might have to provide your email address and password. On Coinspot, you first provide your email address to create an account.

To keep your coins secure, you should enable two-factor authentication on your account. Some exchanges require you to submit additional documents, such as photo ID, before you can begin trading.

Step 2. Deposit funds into your account

The process of depositing funds to your account varies between exchanges. This process typically involves using the exchange’s deposit feature, where you choose the currency you want to deposit. You may then be prompted to enter the receiving address of your exchange wallet.

When logged into Coinspot, your dashboard should have a “Deposit AUD” button. After clicking this button, you can select your payment method as well as how much AUD you wish to deposit.

Note that if you wish to buy OMG from an exchange which does not accept fiat currency, you will have to acquire cryptocurrency in the first place to be able to deposit cryptocurrency funds into this exchange. To learn how to get started with this, check out our guides:

You would then transfer your cryptocurrency bought with fiat currency (such as AUD) to your wallet on an exchange which lists OMG.

Step 3. Buying OMG

Ensure that you have received your deposited funds in your wallet. After this, you can proceed to buy OMG. Again, the process may vary slightly between exchanges, but the usual way involves navigating to the trading page. Then, you would select the appropriate trading pair (such as OMG/ETH if you wish to exchange ETH for OMG, or OMG/AUD if you wish to buy OMG with AUD). Next, you would specify the details of your order, such as the amount you wish to exchange, before hitting a buy button to purchase OMG.


How to sell OMG

Depending on the exchange, there might only be slight differences in the buying and selling processes. In many cases, you are only required to enter a trading pair, such as ETH/OMG or USD/OMG. You would then specify the selling details such as the quantity to be sold before you hit the sell button to sell your OMG holdings.


Which wallets can I use to hold OMG?

OMG is ERC20 compatible as it is based on the Ethereum (ETH) network. Wallets that can hold ERC20 coins should hence be able to support OMG as well. The following are some of the available ERC20-compatible wallets:

Name Product Wallet Type Supported Cryptocurrencies Price (USD) Disclaimer
Ledger Nano S Wallet
Hardware wallet
BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA & 1,330+ more
$59
Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
TREZOR One Wallet
Hardware wallet
BTC, ETH, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
$59.90
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
ZenGo Cryptocurrency App
ZenGo Cryptocurrency App
Mobile wallet
BTC, ETH, USDT, LINK, BNB, UNI, WBTC, XTZ, OKB, LEO & 30+ more
Free download
Take advantage of ZenGo's unique self-custody system to buy, sell and spend and earn cryptocurrency in your own wallet.
Exodus Wallet
Mobile wallet,Hardware wallet,Desktop wallet
BTC, BCH, BTG, LTC, ETH, DASH, ETC, VTC, FUN, DCR, EOS, ANT, GNO, OMG, BAT & 15+ more
Free download
Founded in July 2016, this free desktop wallet offers support for multiple cryptocurrencies including live chart tracking features.
MyEtherWallet
Mobile wallet,Hardware wallet,Web browser wallet
ETH, ETC, EOS & ERC20 tokens
Free download
MyEtherWallet (MEW) is a free, open source tool for creating wallets that work with the Ethereum platform.
Eidoo Wallet
Mobile wallet,Desktop wallet
BTC, ETH, EOS, TRX, FUN, VET, REP, OMG, ERC20 tokens, ERC223 tokens
Free download
Offering support for nearly 500 cryptocurrencies, this HD mobile wallet is user-friendly and gives you full control of your private keys.
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Compare up to 4 providers


How OMG works

OmiseGO is a subsidiary of Omise, a leading payment gateway in East and Southeast Asia. Established in 2013, the developers of OmiseGO recognised that the blockchain had the potential to address interoperability problems among payment services. It counts Ethereum founders Vitalik Buterin and Gavin Wood among its advisors. Joseph Poon, the creator of the Lightning Network and Plasma, wrote the OmiseGO whitepaper and is the designer of the OmiseGO blockchain.

To send money to someone else in another country using traditional financial systems, senders have to pay transaction fees. Moreover, the money is converted to local currency before it reaches the recipient’s hands.

While mobile wallets have the capability to address this issue, mobile wallet platforms are not interoperable. This means that if the sender and recipient are on different mobile platforms, sending and receiving money remains virtually impossible.

OmiseGO aims to change all this with a global platform that offers real-time, peer-to-peer value exchange and payment services, regardless of the currency and asset type used.

Note that Omise does not own the OmiseGO platform, which will remain freely available to anyone, just like the bitcoin and Ethereum blockchains.

Learn more about OMG in our introductory guide.


Real world applications for OMG

OmiseGO’s wallet Software Development Kit (SDK) is already available to other payment gateways interested in a decentralised exchange. The SDK is designed for other companies to be able to create their own wallets capable of validating transactions on the OmiseGO network. These wallets can be used for payment, loyalty and reward programs and for various other financial services.


What to consider if buying OMG

There are inherent risks in trading cryptocurrencies such as OMG since cryptocurrencies are speculative and coin prices are volatile. Consider the following factors before buying OMG.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

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