The OMG network token is currently trading at $11.02 and has managed to break the crucial resistance located at the $10 level. The coin was consolidating between the region of $8—$10 for the past two weeks before the current rally lead to a breakout. The coin could possibly 2X from the current levels and this would open the doors for breaking the all-time high (ATH) located at $25.62.
How & where to buy OMG Network in the UK and elsewhere
The OMG token is a popular cryptocurrency and is easily available on most brokers/exchanges. To start trading in crypto tokens, create an account on a broker/exchange platform. Simply, submit a username, password and email address to open a new account. You will receive a verification email and you will be asked to complete a Know Your Customer (KYC) process that requires submission of proof of identity and address. Standard documents such as a driving license and utility bill can be provided to pass KYC.
It is recommended that you avoid decentralised exchanges as they are unregulated and you could lose all your funds if you’re not careful. For your benefit, we have handpicked two of the best sites where you can trade securely.
As OMG is such a new asset, it’s yet to be listed on major exchanges. You can still purchase OMG using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy OMG right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and ‘connect’ your wallet to it.
4. You can now swap your ETH for OMG
Now that you’re connected, you’ll be able to swap for 100s of coins including OMG.
What is OMG Network?
The OMG network is a scalable solution provider for the Ethereum blockchain. The growing realisation that Ethereum would continue to need more sidechains in future has led to a resurgence in interest among investors for scalable solutions such as the OMG network. The OMG token has seen a fresh burst of trading activity driven by a huge rise in volumes.
Should I buy OMG today?
The coin is currently enjoying a rally that has arrived after a two week consolidation period. The early holders of OMG could possibly be looking at handsome gains in the future. The coin has the potential to rally further and could retest its ATH if the current rally extends and the bulls retain control.
The coin could establish another support zone near the $14 region before moving to test the $20 level and beyond.
This article is informational only—none of the contents should be construed as financial or investment advice.