What is OMG Network?
The main purpose of OMG Network is to decentralize payment networks and create a new public financing system across various applications and geographies. Ever since its ICO, OMG Network has been heavily involved in different products such as a white-label wallet (Software Development Kit) and it’s own unique version of a decentralized exchange called ODEX. Ideally, through this OMG Network suite, business customers, retail customers and more can be linked to the digital marketplace without many roadblocks.
Big names such as Burger King in Thailand used the OMG eWallet suite for its own eWallet solution in addition to the popular video game Plasma Dog which is using the OMG Network network for its decentralized digital asset marketplace inside the game itself. Despite the big name partnerships, OMG remains under the radar and a solid investment with a long history in the cryptocurrency industry.
Pros and Cons of OMG Network
- Developed by Omise, an experienced payment processor active in South East Asia
- When the plasma infrastructure comes out, OMG could massively disrupt the idea of a decentralized exchange and start to challenge Bitcoin dominance
- Publicly supported by Vitalik Buterin and Dr. Gavin Wood
- The full potential of OMG is yet to be realized. Slow development
- The success of the project is almost entirely dependent on the team, leaving little room for error.
- OMG is not as volatile as some other cryptocurrencies
How to get an instant OMG loan on YouHodler
YouHosle clients can use OMG as collateral for an instant fiat or stablecoin loan. This represents a great opportunity to keep HODLing ON while it increases in growth without actually having it sell it. Here’s how to get an OMG loan right now:
- Sign in/sign up on the YouHodler app or website
- Find your OMG wallet and click “deposit” to deposit OMG
- Follow the deposit instructions
- Once the OMG has arrived to your wallet, click the “loan” on the left
- Choose a loan plan that’s right for you and decide how much OMG to use as collateral.
- Click “get loan”
- Find your loan in your fiat or stablecoin wallet
Multiply OMG with Multi HODL
OMG loans can be used to hedge crypto, diversify and multiply one’s crypto portfolio using the variations of the crypto market. Clients can multiply OMG up to x30 using the platforms Multi HODL tool. Simply click the “Multi HODL” button, choose which direction you think OMG price will go and set your multiplier level. If you choose the right direction, your OMG holdings will multiply as a result. Give it a try today!
How to borrow OMG Network - How does it work?
With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow OMG, you first must convert one of the above to fiat and convert it to OMG using our exchange service.
OMG Network loan calculator
You can use our OMG loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan OMG Network, please check the calculator first to see which plan works best for you.
OMG Network lending process
OMG Network lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future OMG loans.
It's worth trying! Forget selling your
with instant crypto backed loans on YouHodler
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