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.

Updated

Fact checked

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

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.
Promoted

Quick guide: How to buy OMG

  1. Register for an account with a cryptocurrency exchange like Swyftx.
  2. Verify your account.
  3. Go to the deposits section
  4. Select your preferred payment method and confirm.
  5. Go to the buy section and select the cryptocurrency you want to buy.
  6. Enter how much you want to buy, or how much you want to spend.
  7. Double check the details and confirm your purchase.
Go to Swyftx'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
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, POLi, PayID
AUD

234
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 150 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

225
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

263
cryptocurrencies

Finder Exclusive: Get $5 cashback when you make your first PayID/Osko deposit on Binance.com/au.
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.
Digital Surge Cryptocurrency Exchange
Bank transfer, POLi, Osko, PayID
AUD

225
cryptocurrencies

A digital exchange based in Brisbane where users can pay in AUD to buy their BTC.
CoinJar Cryptocurrency Exchange
Bank transfer (ACH)
AUD, GBP

15
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
Easy Crypto Cryptocurrency Exchange
Bank transfer (ACH)
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.
Cointree Cryptocurrency Exchange
Bank transfer (ACH)
AUD

132
cryptocurrencies

Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
Independent Reserve Exchange
Cryptocurrency, Electronic Funds Transfer, POLi, SWIFT, PayID
AUD, NZD, USD

15
cryptocurrencies

Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
Crypto.com App
Bank transfer, BPAY, Osko, PayID, NPP, Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Poloniex Digital Asset Exchange
Bank transfer (ACH)
USD, EUR, AUD, CAD, CHF, CZK, DKK, GBP, HUF, ILS & 20+ more

115
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
Bittrex Global
Bank transfer (ACH)
USD

278
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Bitfinex Professional Trading Exchange
Bitfinex Professional Trading Exchange
Cryptocurrency
USD, EUR, GBP, JPY

164
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
CoinSwitch Cryptocurrency Exchange
Bank transfer (ACH)
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Changelly Crypto-to-Crypto Exchange
Bank transfer (ACH)
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
YoBit Cryptocurrency Exchange
Bank transfer (ACH)
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Bibox Cryptocurrency Exchange
Cryptocurrency
EUR, GBP

111
cryptocurrencies

Trade crypto to crypto with a choice of over 100 currencies on this global exchange based in China.
KuCoin Cryptocurrency Exchange
Bank transfer (ACH)
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
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.
BitBay Cryptocurrency Exchange
Bank transfer (ACH)
USD, EUR, PLN, GBP

41
cryptocurrencies

This Polish-based exchange offers a variety of accessible payment methods, including Express Polish Post Office 24/7 service and Express DotPay.
Kraken Cryptocurrency Exchange
Bank transfer (ACH)
USD, EUR, GBP, JPY, CAD, CHF, AUD

53
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.
Zipmex Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi
USD, AUD, SGD, IDR

15
cryptocurrencies

Buy, sell and trade BTC, LTC, ETH, XRP, BCH, USDT, OMG, MKR & 5+ more on this Singapore-based exchange.
Indacoin Cryptocurrency Exchange
Bank transfer (ACH)
USD, EUR, RUB

158
cryptocurrencies

Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

290
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
HitBTC Multi-currency Exchange
HitBTC Multi-currency Exchange
Bank transfer (SEPA), SWIFT
USD, EUR

212
cryptocurrencies

Buy crypto with fiat (USD/EUR) and trade over 150 other digital assets on this Europe-based exchange platform.
CoinField Cryptocurrency Exchange
Bank transfer (ACH)
USD, EUR, CAD, GBP, JPY, AED

24
cryptocurrencies

Canadian-founded Bitcoin and cryptocurrency exchange available in 193 countries.
Liquid Cryptocurrency Exchange & Margin Trading
Bank transfer (ACH)
AUD, EUR, JPY, USD, SGD, PHP, HKD

132
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Liquid is a unified, globally-sourced trading platform that bridges the worlds of fiat and crypto.
Bithumb Cryptocurrency Exchange
Bank transfer (ACH)
KRW

118
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
OKEx Cryptocurrency Exchange
Bank transfer (ACH)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

269
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies

A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
Bitit Cryptocurrency Marketplace
Bank transfer (ACH)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
CoinBene Cryptocurrency Exchange
CoinBene Cryptocurrency Exchange
Cryptocurrency
-

50
cryptocurrencies

Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
AdvCash, Cryptocurrency, Payeer, Perfect Money
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
loading

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
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.
Guarda Wallet
Desktop Client,Mobile,Web
BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, XLM, DASH & 60+ more
Free download
A multi-platform wallet with a user-friendly interface designed to store, manage, transfer and receive digital assets.
TREZOR One Wallet
Hardware
BTC, ETH, XRP, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
$55
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
ZenGo Cryptocurrency App
ZenGo Cryptocurrency App
Mobile
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
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
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
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.
loading

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.

Picture: Shutterstock

More guides on Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site