What is OmiseGo?
“Unbank the banked” is the mission statement of the open payment platform. OmiseGo was launched as an initial coin offering (ICO) in 2017 with the intention of offering better financial services than traditional banking services to both the markets and those using banks. The project has heavyweights Vitalik Buterin and Gavin Wood from Ethereum as advisors.
How to create a OmiseGo wallet
Sign up for a free Coindirect account and you will automatically get a free OmiseGo online wallet. You can use your OmiseGo wallet to buy, sell, store, send (withdraw) and receive (deposit) OMG.
How to create a OmiseGo address
Once you have signed up for a free Coindirect account all you need to do is press the ‘Receive’ button to reveal your Coindirect OmiseGo wallet address.
How to buy OmiseGo with a credit card
- Sign up for a free Coindirect account.
- Find your OmiseGo Wallet and click the ‘Buy’ button in your OmiseGo Wallet.
- Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
- Enter EUR value of OmiseGo you want to purchase (more than the minimum limit) or the OmiseGo amount you want to buy and then click ‘Preview Buy’.
- You will receive a quote, press ‘confirm’ before the timer runs out (counts down from 55 seconds).
- Type in your credit card details and pay.
- You will be taken to a page to verify your transaction.
- Finally, you will be redirected back to your Coindirect Wallet once the payment is successful.
How do I purchase OmiseGo from my bank account?
If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.
To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:
- Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively, click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
- Select the bank to transfer to from the drop-down menu to get payment details and the reference you should use (highlighted in blue).
- Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
- Once the funds reflect in your ZAR wallet, go to your OmiseGo wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.
Where can I sell my OmiseGo?
You can sell OmiseGo from your Coindirect wallet by clicking the ‘Sell’ button in your OmiseGo wallet.
If you are in a SEPA region or South Africa. You can sell your OmiseGo and instantly get money transferred to your Wallet (ZAR or EUR).
If you are in another region with no local currency wallet. You can sell your OmiseGo by creating a sell offer on the marketplace.
You now know how to buy OmiseGo instantly from almost anywhere in the world. Make sure to download the Coindirect App to trade OmiseGo from the palm of your hands.
Credit card limits
Please note that Coindirect has limits for credit card purchases in place.
Make sure that your account is verified so that your credit card purchase limits are increased.
Currently, the limits for credit card purchases are:
Unverified users – €175 – €500
Verified users – €890 – €1000
Invite your friends to buy OmiseGo using a credit card and you can earn Ripple. Simply share a link to them to start trading through the Earn tab and you will both receive 5 XRP each when they perform their first transaction.