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Bytecoin (BCN) Cryptocurrency | What Is Bytecoin (BCN)

Bytecoin is a private and decentralized cryptocurrency which features an open – source code. It is a peer – to – peer digital cryptocurrency which came into being in July, 2012. It has shown quite a growth since then, putting it in direct competition with other leading and widely used cryptocurrencies like Bitcoin and Ethereum.

Symbol Initial Release Date Algorithm Type Max. Supply
BCN 04 July 2012 CryptoNight 184.47 billion BCN

One of the greatest feature of Bytecoin is it provides users that additional layer of security and anonymity by obscuring the transaction addresses of senders and recipient of BCN.

How to Purchase Bytecoin

You can purchase Bytecoin from the following exchanges:

Name Payment Methods Available Fiat Currencies Available Cryptocurrencies
CoinSpot Cash, BPAY, POLi, Cryptocurrency AUD BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc
Changelly Credit Card, Debit Card USD, EUR BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc
POLONIEX Cryptocurrency BTC, ETH, XRP, DOGE, XLM, ETC, STRAT, LTC, SC, DGB, BCH, LSK, XMR etc

With the rise of this crypto currency, however, it has some problems. One of it is that when one user sends cryptocoins to another, both their addresses are stored on the blockchain as part of a transaction, along with the amount of cryptocurrency sent. The blockchain’s open philosophy then presents a problem: If you know people’s public addresses you can track how many transactions they’re receiving and how much currency they’re getting.

However, Bytecoin provides a solution to this. It wraps the addresses by using a ring signature algorithm called CryptoNote, analyst of transactions and the blockchain would be unable to precisely pinpoint the members involved in a transaction. Because ring signatures are shared by multiple users, one would be able to discern which group of users made a transaction, but not which specific user in that group.

Where to Use BCN

Merchants have started accepting BCN as payments alongside more common cryptocurrencies, but the vast majority of users are early adopters and traders.

How do I Purchase Bytecoin

Follow the below mentioned steps to own a Bytecoin:

  • You can buy BCN at a low value and then sell them off if it gains in value
  • As with other altcoins and bitcoin itself, Bytecoin has since decreased in value and, as of September 2017, its value has settled at approximately $0.0015, while the market figures out this cryptocurrency’s future

How to Store Bytecoin

There are three ways to store Bytecoin:

  • Desktop wallet it is available on Mac, Windows, and Linux
  • Web wallet One can get access to the Web wallet from any web browser
  • Mobile wallet As for now only Android users can use the mobile wallet. The team behind BCN has not announced a release date for the iOS wallet

Also note that with these wallets you are required to set – up encrypted passwords and two – factor authentication. These additional measures will secure your wallet to a greater extent than the default set – up.

How to use Bytecoins to Transfer Money

In order to transfer Bytecoin, it requires both you and the recipient of BCN to own a Bytecoin wallet. You first required installing the wallet and then sending the BCN the same as the other altcoins because the algorithm for anonymity works behind the scenes.

How to Get Bytecoin

At present there are users those who are holding BCN in their wallets. They are also willing to use it to pay for products and services online. It is also advantageous as it requires zero cost to accept payment alongside other cryptocurrencies and fiat currencies like USD cost nothing and give customers the ability to pay their preferred method. After that these Bytecoin assets can then be converted back to fiat currency in online exchanges.

Note:

Bytecoin is still has a long way to go, and its value is still undecided. Traders will need to decide whether purchasing Bytecoin is riskier than buying other, more stabilized cryptocurrencies.

What’s in Store for Bytecoin

Team behind Bytecoin strives to introduce more features in the future, including a more lightweight wallet (for smart phones, for example) and a scripting language that allows users to create smart contracts.

ZCash Cryptocurrency | How To Purchase ZCash Cryptocurrency

ZCash is a cryptocurrency with a strong emphasis on privacy and identity protection. ZCash maintains the features of a public blockchain while enabling completely anonymous transactions.

While Cryptocurrencies are often hailed as anonymous in many cases user identity can be traced by following the transaction history on the blockchain. ZCash was born from a project called ZeroCoin, originally geared towards improving anonymity for bitcoin users. Using a specialised form of zero -knowledge cryptography, ZCash makes it possible for fully encrypted transactions to be validated by the network’s consensus protocol.

Symbol Initial Release Date Algorithm Type Max. Supply
ZEC 28th October Zk – SNARKs 21 million ZEC

How is ZCash Different From Bitcoin

ZCash itself is an extension of Bitcoin. However, it is a separate cryptocurrency that maintains its own blockchain, the infrastructure is built on top of bitcoin’s core code. In addition to the concealed code that are specific to ZCash which includes updating the proof – of – work (PoW) consensus model and introducing zero – knowledge proofs to enhance user privacy.

In order to identify users, Bitcoin and many other cryptocurrencies depends on private keys (private keys are also a form of cryptography that allows a user to access his or her cryptocurrency. It is one of the prominent aspects of bitcoin and altcoins. It is provided to the users to send and receive coins or tokens).

The bitcoin blockchain records every transaction details, which includes the addresses of both parties involved and the amount of the transaction, which is accessible to the public. Whereas, ZCash blockchain, only shows that a transaction occurred, without disclosing the amount exchanged or information about the identity of either the sender of the recipient.

Where to Use ZCash for Payment

ZCash can be used as a payment with anyone who is willing to accept it. Also note that, multi – currency Jaxx Wallet, which is available for both iOS and android supports ZCash.

How to Purchase ZCash

ZCash is available in most of the famous exchanges which includes Bittrex, Poloniex and Shapeshift. Read the table below to find out the exchanges which offers ZCash:

Name Payment Methods Available Fiat Currencies Available Cryptocurrencies
Changelly Credit card, Debit card USD, EUR BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc
CoinSpot Cash, BPAY, POLi, Cryptocurrency AUD BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc
Mercatox OKPay, PerfectMoney, YandexMoney, Payeer, QIWI, Cryptocurrency USD, EUR, RUB BTC, XRB, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, VERI, LOC, NUA, PKT, PPT, ICO etc
Binance Cryptocurrency BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC etc
ShapeShift Cryptocurrency BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, DOGE, EDG, EOS, FCT, GAME etc

Things to Keep in Mind Before Purchasing ZCash

  • ZCash can be used as a privacy enhancement tool; however, it is not anonymous by default. Moreover, protecting from transaction data from the public blockchain which is also an optional feature, it is also possible that only a minority of users will take advantage of this ability, potentially making it easier to trace the history of private transactions on an otherwise largely transparent blockchain
  • It also utilizes a new form of cryptographic algorithm. However, it is still being tested, explored and developed. Hence, a user should be aware of the unknown vulnerabilities attached to it
  • Different from other cryptocurrencies, ZCash is run by a company. Zooko Wilcox is generally considered to be the creator of ZCash Company. 10% of all ZCash mined within the first four years, called the “Founders Reward”, goes to stakeholders in the ZCash company

Future of ZCash

  • Collaboration with Ethereum

In order to combine the algorithms behind ZCash’s privacy features into the Ethereum platform, the team behind ZCash is working with the developers. It also aims to create a larger bridge between the ZCash and Ethereum blockchains

  • Cross – Chain Atomic Swaps

Cross – chain atomic swaps also known as XCAT are on the development roadmap for ZCash. These permits instant trades between cryptocurrencies and blockchains. These allow instant trades between cryptocurrencies and blockchains. Adding to the integrating with the Ethereum blockchain, ZCash is also working on developing interoperability with bitcoin and other blockchains.

Verge Cyptocurrency | Unique Features & Information About Verge Wallets

Verge is a cryptocurrency that aims to keep transactions anonymous and untraceable while allowing for higher throughput and fast confirmation times. It utilizes anonymity – centric networks such as TOR and i2P in order to make the IP addresses of its users are obscured and the transactions are completely untraceable.

The aim of this cryptocurrency is to provide security and privacy to the users, just like other privacy – focused coins like DASH and Monero. Privacy in a cryptocurrency is also considered to be one of the prominent features of crypto.

Verge also known as XVG was started as DogeCoinDark back in 2014 which also make it one of the oldest anonymous crypto coins.

Primarily verge offers two types of advantages which are as follow:

  • Security Verge provides complete privacy by being anonymous in transactions
  • Functionality Verge also provides extra functionality in the form of compatibility across multiple blockchains and future smart contract functions

What is the Purpose of Verge Cryptocurrency

The team behind Verge says that “Our mission is to empower people around the world by bringing blockchain transactions into everyday life. Verge currency makes it possible to engage in direct transactions quickly, efficiently and privately. With Verge currency, businesses and individuals have flexible options for sending and receiving payments. With the flip of a switch, we offer helpful integrations and tools that enable them to handle large – scale transactions between merchants and small – scale private payments”.

Where can one Purchase Verge

If you wish to purchase Verge, you can do so from the following exchanges:

Name Payment Method Available Fiat Currencies Available Cryptocurrencies
CoinSpot Cash, BPAY, POLi, Cryptocurrency AUD BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc
Binance Cryptocurrency BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC etc
Changelly Credit card, Debit card USD, EUR BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc
Cryptopia Cryptocurrency BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT etc
Bittrex Cryptocurrency BTC, ETH, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, QTUM, ZCL, RDD, LTC, NEO etc

What are the Unique Features of Verge

Verge consists of various features which are as follows:

  • Optional Transparency

The user of Verge gets the “Wraith protocol” which is also an optional feature. This lets users to decide whether they want to have a transaction kept entirely invisible, or recorded visible blockchain

  • Stealth addressing

Stealth addressing is a feature which lets senders create an unlimited number of one – time addresses for recipients. And only a recipient can get the access to it, and cannot be linked to either the sender or the receiver. This lets senders easily offer more security and privacy for receivers

  • Multi – algorithm mining

Verge is one of the cryptocurrencies which offers multi – algorithm mining, which also supports 5 hash algorithms on one blockchain. This also indicates that a greater variety of people and devices can profitably mine it

  • Atomic Swap inter – chain operability

Once Verge will come into being completely across multiple blockchains, users will be able to seamlessly convert and transact currencies across multiple other blockchains that offer Atomic Swap functionality.

  • Rootstock Smart Contracts

In coming years, Rootstock will also integrate smart contracts as well

Which are the Verge Wallets

In this section we will list out three best Verge wallets for storing, sending and receiving Verge (XVG):

Name Wallet Type Supported Cryptocurrencies
Coinomi Mobile BTC, ETH, ETC, BTG, DOGE, LTC, LCC, BCH, DASH, NBT, PPC, RDD, MONA, DGB, DGC, NEOS, XVG, VTC, BTA, ABN
Verge Electrum Wallet Desktop Client XVG
Verge QT Wallet Desktop Client XVG

Features of a Verge Wallet

Following are the features of a Verge Wallet:

  • Make sure to look for the compatibility as there are only limited range of wallets that are compatible with Verge
  • To make handling your crypto coins easy, look for a wallet that’s simple to operate and understand
  • It is important to check the security measures before start storing your crypto coins such as if the wallet has encryption, two – factor authentication and a secured PIN
  • After that, check the reputation of the wallet. Also, the development team behind the wallet is also important. Rather than moving on to other projects once the wallet has been released, do they continue working on it to provide improvements and upgrades?
  • Good reviews. Finally, take some time to read reviews from other users to find out how they found the wallet. Was it easy to use? Did they ever have any problems? Would they recommend it?

How to Purchase Verge

Once you have chosen your wallet, it is time to purchase some verge to hold in it. If you are not able to make the purchase with a “fiat currency”, you are required to first purchase another currency. The easiest to buy are Bitcoin and Ethereum, which you can get it at Coinbase using a bank transfer or debit / credit card purchase and then swap that for XVG at Changelly or Binance.

How to Register at Coinbase

If you are buying crypto currency for the first time, you can use Coinbase to make your first purchase. It is easy to use, especially for the first time crypto currency buyers, it is also fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.

You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines

Bitcoin Gold Cryptocurrency (BTG) | What Is Bitcoin Gold (BTG) Cryptocurrency

Bitcoin Gold (BTG) is a part of the authentic Bitcoin Cryptocurrency. It is aimed at breaking down the Bitcoin mining monopoly.

As per the Bitcoin Gold’s website bitcoingold.org

Any secure Bitcoin wallet that gives the user exclusive control of cryptographic private keys is a suitable location to store your coins prior to the October 25 fork. Some wallets may offer you direct access to your BTG, while others may require you to take additional technical steps. Verified wallets that support BTC and BTG side – by – side will be listed on the Bitcoin Gold home page. We will publish guides for retrieving BTG from the most popular wallets, including Bitcoin Core, Electrum, Mycelium, Hardware Wallets, Paper Wallets, and more
.

Since its inception, mining is one of the key features of Bitcoin and Cryptocurrencies. It strives to fix the domination of mining by professional businesses by changing the algorithm used to solve blocks.

What is Bitcoin Gold

Bitcoin Gold (BTH) was first announced on 23rd October 2017 and launched on 12th November 2017. Bitcoin Gold (BTG) is a free open source cryptocurrency project that is developed by the volunteer Bitcoin enthusiasts.

It is also known as a hard fork of the Bitcoin blockchain. It is a new branch of the bitcoin blockchain that contains the same transaction history as bitcoin up until the fork, however, exists in parallel with the bitcoin blockchain after the fork.

Symbol Initial release date Algorithm type Max. supply
BTG 12th November 2017 Equihash 21 million BTG

How is Bitcoin Gold if Different From Bitcoin

There are a lot of similarities between Bitcoin Gold and Bitcoin. Both of these take 10 minutes as a transaction – processing time (i.e. it takes approximately 10 minutes to confirm a transaction after cryptocoins have been transferred). Also, the maximum supply of both of these coins is 21 million (i.e. there will never be more than 21 million BTG in circulation).

However, there are few differences in them, which are as follows:

Differences Bitcoin Gold (BTH) Bitcoin
Total Supply 21 million 21 million
PoW (Proof of Work) Algorithm Equihash SHA256
Mining Hardware GPU based mining hardware ASIC mining hardware
Block Interval Block interval of 10 minutes Block interval of 10 minutes
Block Size (Actual) Block size of 1 MB (2 to 4 MB actual) Bitcoin blockchain is also able to contain 1 MB of data, meaning that the block size of bitcoin is 1 megabyte
Difficulty Adjustments Difficulty is adjusted with every block Difficulty adjustments takes place in every two weeks on

How to Get Bitcoin Gold (BTG)

You can get Bitcoin Gold (BTG) from the (a) hard fork and (from an exchange):

  1. From the hard fork

If you hold Bitcoin on your wallet, at the time of the fork and not in any exchange, then you are in luck because the Bitcoin Gold fork awarded you BTG at a rate of 1 BTC = 1 BTG.

  1. From an Exchange

You can also purchase Bitcoin Gold (BTH) from an exchange as well. Bitcoin Gold (BTH) is available on the following exchanges:

  • Bittrex
  • HitBTC
  • Gate.io
  • Changelly
  • Abucoins
  • CoinSpot
  • Bitfinex
  • Binance
  • Coinnest
  • YoBit
  • Bleutrade
  • BitStar
  • OKEx
Name Payment Methods Available Fiat Currencies Available Cryptocurrencies
Changelly Credit Card, Debit Card USD, EUR BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc
Indacoin Credit Card, Debit Card USD, EUR, RUB BTC, BTG, BURST, BYC, CANN, CFI, CLAM, CLOAK, CLUB, COVAL, CPC, CRB, CRW, CURE, CVC, DASH, DCR, DCT, DGB, DMD, DNT, DOGE, DOPE etc
CoinSpot Cash, BPAY, POLi, Cryptocurrency AUD BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG
Cryptopia Cryptocurrency BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT
ShapeShift Cryptocurrency BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, DOGE, EDG, EOS, FCT, GAME etc

How to Get Paid in BTG

You can be paid in BTG if you provide a service or product online. Because as of November 2017, the currency is still in its infancy, you might want to offer the customers the option to pay with BTC or other altcoins, alongside Bitcoin Gold, however, if the cryptocurrency does gain more acceptances, you might see more people willing to pay you for services and products using BTG.

How to Make Payments with Bitcoin Gold (BTG)

In order to transfer money with Bitcoin Gold (BTG), one requires a BTG wallet, some BTG on your account and a destination address. Follow the below mentioned steps for the same:

  1. Install a Bitcoin Gold wallet

Firstly, you are required to install a wallet that is compatible with Bitcoin Gold and through which you can access your BTG

  1. Get the Recipient’s Wallet Address

You should get a destination address by the recipient of your BTG. The destination address should be made of letters and numbers. Make sure to type this address correctly.

  1. Enter the Amount of BTG to Send

Enter into your wallet the value in BTG that you want to send the recipient, making sure you have enough funds

  1. Send the Crypto Coins

In order to send the BTG to the recipient, click on the “Send” button on your wallet application. Funds can be transferred almost immediately, however shall take up to 10 minutes to be entirely confirmed

How Safe is it To Trade BTG

Security is one of the prime concerns which stop the immediate trading of BTG. To be specific, BTG may not have replay protection. Hence, it is better to check out the exchanges that have clearly explained how they plan on handling this.

What is the Future of Bitcoin Gold (BTG)

As per the official roadmap of Bitcoin Gold (BTG), the developers aims at continue pushing towards making Bitcoin Gold a standalong cryptocurrency. It says it will develop new features on top of the Bitcoin blockchain, but an exact detail is yet to be seen.

What Is OmiseGo | OmiseGo Cryptocurrency Uses

OmiseGo is structured on the Ethereum platform. It is a venture – backed payment service company which operates in Thailand, Japan, Singapore and Indonesia.

OmiseGo was introduced with the aim to become the top most, peer – to – peer (P2P) cryptocurrency exchange platform. Other than an altcoin, OmiseGo has been designed to be a financial platform with an aim to disrupt current financial institutions and methodologies.

OmiseGo recount itself as “The answer to a fundamental coordination problem amongst payment processor, gateways and financial institutions”.

Symbol Initial release date Algorithm type Max. supply
OMG 2013 N / A 140 million OMG

Other than being a cryptocurrency such as Bitcoin or Dogecoin etc, but also to offer users an alternative to online exchanges. As with current exchanges, to purchase a cryptocurrency like Bitcoin, it is important to start from a fiat currency. There are very few choices and little variety available in exchanges, especially when it comes to converting one cryptocurrency to another.

Name Payment Method Available Fiat Currencies Available Cryptocurrencies
Changelly Credit Card, Debit Card USD, EUR BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM, 1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC
CoinSpot Cash, BPAY, POLi, cryptocurrency AUD BTC, BCH, ETH, XRRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc
MERCATOX OKpay, PerfectMoney, Yandex Money, Payeer, QIWI, Cryptocurrency USD, EUR, RUB BTC, XRB, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, VERI, LOC, NUA, PKT, PPT, ICO
BINANCE Cryptocurrency BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC etc
ShapeShift Cryptocurrency BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, DOGE, EDG, EOS, FCT, GAME etc

How is OmiseGo Different From Other Standard Exchanges

The main motive behind OmiseGo is to disrupt the current method of buying and selling cryptocurrencies from exchanges. This can happen by connecting present existing cryptocurrency wallets to a central OmiseGo blockchain, over which users can exchange cryptocurrencies quickly and easily. OmiseGo is different by consisting the below mentioned steps:

  • Decentralized

Other present exchanges are a centralised operation which means that they are located, stored, and maintained in a single location which is owned by the exchange.

On the other hand, OmiseGo offers the same exchange functionality, however, keeps all its transactions decentralized and stored on the blockchain. With this the data is secured as the hacker cannot access one location to tamper with, say, the available funds of one person.

  • Currency Agnostic

In most of the exchanges, there are options where you can exchange money from fiat currency to cryptocurrency and back. However, it charges a lot of fees from the users for the same. For instance, if a user wishes to convert their BTC (Bitcoin) to ETH (Ether), you will first need to find an exchange that trades in both BTC and ETH. After that you will have to send BTC from your wallet to the exchange. Then you will be able to convert your BTC (Bitcoin) to a common fiat currency (e.g. INR or USD). And at last you will have your crypto converted.

It is also important to note that in this whole process, exchanges would take fees, often when selling the BTC and again when buying the ETH.

OmiseGo find a way to disrupt that by claiming that its currency agnostic. Your conversion does not matter, as the fees remains the same; one direct conversion with one tiny fee.

How to Purchase OmiseGo Coins (OMG)

In order to purchase OmiseGo coins, you are required to create an account with a reputable online exchange and then convert some USD into OMG. Once you receive OMG coins in your wallet, their value will rise or fall depending on whether OmiseGo‘s value rises or fall. You can sell back to the exchange at any time if you wish to.

You can also follow the step – by – step guide to buy OmiseGo (OMG):

Steps 1 – Create an account on a cryptocurrency exchange that list OMG

Look for an exchange that trade for OMG and register yourself. However, you may not be able to trade Indian Rupees (INR) directly for OMG. You might have to trade a popular cryptocurrency like Bitcoin (BTC) or Ethereum (ETH) for OMG.

Sign up for an account before you can buy them. To sign up you are required to provide your email address and create a password. You may also required to verify your account by providing your full name, contact information and proof ID before you can make a deposit.

In order 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 deposit process varies between exchanges. This process requires exchange’s deposit feature, where one can choose the currency you want to deposit. You may then be prompted to enter the receiving address of your exchange wallet.

In case the exchange you chose to buy OMG from 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.

Step 3 – Buying OmiseGo (OMG)

Make sure that you have received your deposited funds in your wallet. After that you can proceed to buy OMG. The process may vary slightlybetween exchanges, but the usual way involves navigating to the trading page. Then, you would select the appropriate trading pair (such as OMG / ETH, in case you wish to exchange ETH for OMG). After that, 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 OmiseGo (OMG)

There are slight differences in buying and selling processes, which varies from exchange to exchange. In many cases, you are only required to enter a trading pair, such as ETH / 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.

How to Use OmiseGo

The use of OmiseGo’s exact operational method is still unclear. Nevertheless, the vision as described by the developers to bring together service providers and help them bridge the gaps between them by using the OmiseGo currency agnostic blockchain.

OmiseGo is not a platform that can be used on its own. It requires other service providers to plug into it for users to reap its benefits. If it sees widespread adoption, most users might not even know that they’re using OmiseGo’s platform as they go about using their own cryptocrrency’s platform.

Note: It is important to note that OmisGo is still a young platform, it is still in its early stages both in terms of development and adoption as of September 2017, so not a lot is known about it other than a general, bird’s eye view of its team’s vision.

Which are the Valid Wallets to Store OmiseGo (OMG)

Below mentioned are some of the wallets which supports ERC20, which are as follows:

Name Wallet Type Supported Cryptocurrencies
TREZOR Hardware BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBIQ
Ledger Hardware BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM, HSR, DGB, QTUM, PIVX, POSW
MyEtherWallet Web ETH, ETC, ERC20 tokens
EXODUS Desktop Client BTC, BCH, BTG, LTC, ETH, DASH, ETC, VTC, FUN, DCR, EOS, ANT, GNO, OMG, BAT etc
eidoo Mobile BTC, ETH, EOS, TRX, FUN, VEN, REP, OMG & 500+ ERC20 tokens

Future of OmiseGo

It is too early to predict the future of OmiseGo. However, market and cryptocurrency experts seem confident that OmiseGo has good things in future but nothing is guaranteed.

Things to Ponder Over Before Buying OmiseGo (OMG)

  • Supply – As per a popular source, the circulating supply of OmiseGo (OMG) is 102,042 OMG out of total supply of 140,245,398 OMG
  • Use – The team behind OMG that companies will use the wallet SDK to develop their own application. On February 28, 2018, the team released its wallet SDK code, as well as the code for its server and mobile SDKs , in a Github repository for anyone interested in developing their own wallet applications
  • Partnerships – Significant developments which includes Omsie’s signing of a partnership agreement with McDonald’s Thailand in September 2017 and Thailand’s National Identification (ID) project in February 2018
  • Ongoing new developments and press – Keep a check on the news for any developments on OmiseGo.
  • Adherence to future plans – You should look at how successful OmiseGo is in implementing its roadmap plans ahead or on schedule.

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