crypto news

To begin with let’s look at what OmiseGO (OMG) coin really is; its origin and how it operates.

OMG is a “next generation” cryptocurrencies developed by Omise, which was established in 2013 and operates in Indonesia, Thailand, Singapore and Japan.

The OmiseGO’s network and that of Ethereum are connected in a way and thus the reason as to why it is referred as ‘Ethereum based’. In linking the network of the two cryptocurrencies, the company ensures that there is a platform for investors to financial transactions such as payroll deposits, payments, B2B commerce, remittances and trading among many other transactions. All this is carried out in a completely decentralized environment with no central regulating body like a Central Bank or so.

OmiseGO is built on Ethereum and this has helped in making it one of the fastest growing crypto coins in the market as we speak.

OmiseGO (OMG) features?

There must be something special about this coin which is making investors attracted to it.

Sure!

First of all, it doesn’t require the investor to have a bank account to own OMG coins as is the norm with almost every other cryptocurrency in the world, where the investor starts with exchanging some fiat money for a specific number of cryptocurrency tokens. With OmiseGO, all the existing cryptocurrencies are interlinked in such a way that if an investor wishes to own OMG coins, they only have to exchange their already owned cryptocurrencies for OMG coins. In this way, the company network intends to interrupt how the world of digital currencies operates by making it totally decentralized.

Let’s take an example where an investor owns Ethereum coins and wants to own some OMG coins too. After opening an OmiseGO SDK wallet, he/she then exchanges some or all of his/her Ethereum coins for ONG coins at the current market price and that’s all. No bank account required and thus no fiat money involved.

OMG users also enjoy instant settlements as well as very low transaction costs.

OmiseGO performance in the cyrptocurrncy markets

OMG can be described as one of those “new generation” cryptocurrency coins which have done very well in the past years since they were established.

Its coin was first listed in the cryptocurrency financial markets in July, 2017 where it was going for $ 0.534731 per token. Compared to most of the new crypto coins, we can say OmiseGO started very high since most of the coins straggle for even two years to get their value to reach $0.5.

OMG chart
chart by coinmarketcap.com

The most surprising thing with this coins is that even after starting its ‘journey’ at a high note, its value has been constantly appreciating over the period to sell at $23.64 as of 15th January, 2017.

Looking at its chart, it shows a very normal, but strong bullish trend for a period of about half a year since it started trading.

To make things more exciting, the real up-surge in the prices occurred between the month of December and January, 2018, moving up by a cool 16.86. No ordinary digital coin does this!

So is it late to still invest?

No. With the momentum this cryptocurrency coin is having, I would say that this is just the beginning. This is actually the perfect time to invest.

Looking at the past developments of the release of the Priority features for the wallet SDK in the last quarter of 2017, addition of extra loyalty programs to the SDK wallet this month and the release of the progress on the progress on plasma still this month, OMG coin still has got unutilized potential.

Furthermore, 2018 is set to have a number of key activities which am sure will catapult theOmiseGO (OMG) coin even higher. Some of the anticipated activities include enabling the OMG users to move in and out of the Omise and Fiat payment gateway interface with ease and the deployment of the much awaited Plasma chain technology across the OmiseGO network.


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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
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2 comments

  1. OmiseGo is wonderful project with huge potential for future. One of the biggest success is cooperation with ETH developers team. The main advisers of this project are Vitalik Buterin and Joseph Poon and their Plasma (Scalable Autonomous Smart Contracts) will be use in OmiseGO blockchain as first project at all.

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