The OmiseGo ( OMI ) Token Sale is a one-of-a-kind opportunity to purchase early access to the token that will power the next-generation digital financial services. With 5 billion tokens, this token sale is unlikely to be done. Use this article as your cryptocurrency buying guide if you plan on investing in OmiseGo.
The omi crypto is set to revolutionize online retail and e-commerce in Southeast Asia. OmiseGo will also emerge as one of the most popular payment methods for online services such as Uber, Airbnb, and Github, thanks to its ability to work with any blockchain technology.
OmiseGo is built on the Ethereum blockchain and uses Ethereum smart contracts, which have proven themselves time and time again to be the gateway for decentralized applications (dApps). The sale will be held on the Ethereum blockchain, but there are several steps you need to take to prepare yourself.
There are three steps you need to take before participating in the omi token sale. The first is making an Ethereum wallet, purchasing ether, and finally exchanging ether for omi tokens.
Here Is How to Purchase Ether
Go to https://www.coinbase.com and sign up for an account. After creating your account, you can go to https://www.coinbase.com/join/5267e7t and follow the steps to purchase ether.
Please read the terms and conditions before purchasing any cryptocurrency on any online exchange, as they should be clearly stated before your purchase. CoinBase is an exchange that works similarly to LocalBitcoins, where the price is set by the buyer and seller directly. CoinBase does not sell its token, but you can use the account to purchase ether for the omi token sale.
Here Is How to Exchange Ether for OMI Tokens
After you have purchased ether, make sure your Ethereum wallet is funded with at least.07 Ethereum (1/10 of an ether). Go to https://www.myetherwallet.com and create a new wallet from the menu on the left side of your screen. Enter your password, email and create a password to encrypt your wallet. After you have saved your password, you can now claim your Ethereum wallet by clicking on the “claim” button in the upper right corner of your screen.
A new window will pop up with several different colored buttons, which correspond to different wallets on different blockchains. You will want to click on the button that says “claim” next to “Ethereum wallet.”
Now that you have an Ethereum wallet funded with at least .07 ether, exchange your Ethereum for omi tokens in the following way:
Go to https://www.myetherwallet.com, create a new wallet, and enter a password you will use to access it. After you have saved your password and clicked on “claim,” you will be taken to the “Claim” page on your Ethereum wallet. You will be asked for a deposit address.
The deposit address will be a long string of numbers and letters that start with “a” and end with an encrypted string of characters. You can use several exchanges to exchange your Ethereum for omi tokens. To view a list of exchanges and their associated deposit address, go to https://tokensale.omisego.network/sale/get-tokens. Enter your Ethereum deposit address into the appropriate input box on each exchange, then click “buy OMI.
Once the transaction is confirmed, you are now a proud owner of some OMI tokens!
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OMI’s technology utilizes a decentralized bank account system that allows users to make quick, transparent, and inexpensive transactions without relying on a middleman. It will be compatible with fiat currencies (e.g., USD, EUR, and GBP) and digital currencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
The OmiseGo network does not rely on a middleman or central authority to operate. Unlike Bitcoin and other blockchain-based cryptocurrencies, where miners provide computing power to maintain the blockchain network, the OmiseGo network is powered by validators (aka voters). Each validator has their own “OMI” balance-reserve account, which they can use to vote on smart contract proposals and issue new tokens. It is impossible to purchase or earn OMI tokens, as they must be earned through validation.
OMI tokens will be exchangeable for other cryptocurrencies and even fiat money on cryptocurrency exchanges. The initial tokens are not divisible, so users will not transfer an amount smaller than one token. The developers are currently working on a fix that will allow users to transfer any token amount.
OMI tokens are an integral part of the OmiseGo network and will be used to pay fees for the OMISE payment gateway and issue new tokens. The issuance of OMI will be limited to no more than 2 billion tokens.
When someone submits a transaction, the service provider can select which validators will participate in that transaction. If your service provider is not one of the validators, you will not be able to use the exchange function on OmiseGo’s website.
The OmiseGo network also contains a decentralized exchange where users can trade tokens directly, and transaction fees are paid with these tokens. Transaction fees for the OMISE payment gateway will be paid in OMI. On the OmiseGo site, users can create a wallet to operate their OMI tokens on their Ethereum and other cryptocurrencies.
Conclusion
In conclusion, we believe that OmiseGo is a great technology that utilizes a new decentralized bank account system and blockchain. The technology will be usable for many different applications, including the financial world. We would recommend investors take part in the token sale of OmiseGo and look forward to seeing these tokens become widely accepted in the future.