ECOMI is another Singapore-based company, just like Zilliqa.
If you are looking to invest in this coin that supports ECOMI’s digital marketplace, you can’t directly buy it from SGD.
Instead, here’s what you’ll need to do.
How to buy OMI in Singapore
Here are 2 ways that you can buy OMI in Singapore:
This is a summary of the methods,
and here is each method explained in-depth:
Gate.io is a Chinese cryptocurrency exchange that was founded in 2013. It has a huge number of cryptocurrency trading pairs (similar to OKEx or Huobi).
Here’s how you can buy OMI on this exchange:
- Deposit ETH or USDT into Gate.io
- Select a trading pair with OMI
- Select the type of order you wish to make
- Select the quantity of OMI you wish to buy
#1 Deposit ETH or USDT into Gate.io
Gate.io does not allow you to use SGD to buy cryptocurrencies on their platform. As such, you will need to deposit ETH or USDT from another exchange to Gate.io.
This is because Gate.io only offers an ETH or USDT trading pair with OMI.
To do so, you will need to go to your ‘Wallet‘ tab,
and select ‘Deposit‘.
You will need to select USDT as the cryptocurrency you wish to deposit, which will bring you to this page.
If you want to reduce the amount of withdrawal fees that you incur, you can send your USDT via the TRC20 network. The amount of fees that you pay is much less compared to the ERC20 network!
You can view my guide on how to buy USDT on XanPool or Liquid and withdraw it to Gate.io.
Alternatively, you can deposit ETH from Gemini, as Gemini offers you up to 10 free withdrawals per month.
Here are some things you’ll need to take note of:
- You are sending via the correct network (there is ERC20, TRC20 etc.)
- The deposit address is accurately copied letter by letter
If you make any mistake during this process, your crypto will be lost forever!
#2 Select a trading pair with OMI
Once you have deposited your USDT into Gate.io, you will need to select either the OMI/USDT or OMI/ETH trading pair. This can be done by going to the ‘Exchange‘ tab,
and then searching for the OMI trading pairs.
#3 Select the type of order you wish to make
After you’ve selected your trading pair, you would need to select the order type that you wish to make:
- Time Condition
- Conditional Order
Limit orders allow you to determine the price you wish to buy or sell your crypto. It is interesting to note that Gate.io does not offer any market orders.
#4 Select the quantity of OMI you wish to buy
After you’ve selected your order, you’ll need to select the amount of OMI you wish to buy.
Once the trade has been executed, OMI will be credited to your account.
Gate.io charges you up to 0.2% in fees for buying OMI. This is rather low compared to some crypto exchanges that can be used in Singapore!
OKEx is another crypto exchange that you can consider buying OMI from.
Here’s how you can buy OMI on OKEx:
- Deposit USDT into OKEx (preferably via TRC20)
- Select the OMI/USDT trading pair
- Enter the details of your trade
- Execute the trade
#1 Deposit USDT into OKEx (preferably via TRC20)
You’ll need to go to ‘Assets → Deposit‘,
and then select USDT as the currency that you wish to deposit.
To reduce the fees, you can try to send USDT via the TRC20 network. However, do remember to check if the platform that you’re sending USDT from supports TRC20 too!
#2 Select a trading pair with OMI
Once you have deposited the currency in your OKEx account, you can start trading OMI.
You’ll need to go to ‘Trade → Basic Trading‘,
which brings you to OKEx’s trading platform.
You will need to select the OMI/USDT trading pair from the search bar:
#3 Enter the details of your trade
You are able to make 5 different types of orders you can make on OKEx:
- Advanced Limit
You’ll also need to enter:
- The price that you want to pay for 1 OMI
- The amount of OMI you want to buy
#4 Execute the trade
Once your trade has been executed, OMI will be credited into your account.
OKEx charges up to 0.1% for their trading fees.
This is slightly cheaper compared to Gate.io!
There is currently no direct way for you to buy OMI directly from SGD.
If you do want to buy this cryptocurrency, you will need to buy USDT from another exchange, and then send it over to either of these 2 exchanges.
If you are able to send USDT via the TRC20 network, this will help you to save on a lot of fees!
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
OKEx Referral (Receive USD $10 of BTC)
If you are interested in signing up for an OKEx account, you can use my referral link. If you make a crypto purchase of ≥ $100 USD via Buy / Sell, we will both receive USD $10 worth of BTC.
Here’s what you need to do:
- Sign up for an OKEx account
- Go to Buy/Sell to buy crypto from a variety of methods (e.g. Credit Card or PayNow)
- Buy ≥ $100 USD worth of crypto
- Receive $10 USD worth of BTC in your OKEx account
If you use OKEx’s Buy/Sell feature, you will be buying your crypto from a 3rd-party payment provider.
The fees may vary, but the $10 USD credit should be able to help to pay for your trading fees!
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