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The OMG Foundation (formerly known as OMG Network and OmiseGO) is a decentralized network that allows high-throughput with low-cost peer-to-peer transactions. It acts as a value transfer network that runs off Ethereum and any ERC-20 token, meaning anyone can exchange value across regions, asset types, and apps via their network. OMG is the utility token used for the OMG Network.
Zengo is a straightforward app that is user-friendly for both beginners and those experienced with crypto trading. The app offers you an easy-to-use way to buy, trade, and store your OMG tokens.
The Zengo wallet uses cutting-edge security technology to make sure your coins are always secure, no matter which device you use, making it a portable solution for trading on the go. You can access your OMG and other cryptocurrencies by simply swiping and tapping on a few icons from anywhere in the world. It’s that easy!
With cryptocurrencies being volatile, investors need an easy way to access their coins and make the most out of the highs and lows. Zengo’s wallet gives you access to various coin types, security, multiple payment methods, and total transparency.
Online portfolio trackers are outdated and a thing of the past. With Zengo, you can view your OMG portfolio at any time! This will help you take advantage of positive markets by giving you the ability to sell your crypto as value climbs or buy when prices are low, making it the easiest and quickest way of keeping track of OmiseGO.
You shouldn’t need a degree to send or receive OMG tokens. With the Zengo app, it’s easy to send and receive your OmiseGO and other supported currencies to a different wallet, friend, or exchange with just a single tap.
Zengo makes it easier than ever for people new to investing in crypto to buy OmiseGO or other cryptocurrencies for the first time. You can simply swipe the asset and follow the step-by-step prompts, and with multiple currencies as well as payment options available, it’s easier than ever to get started.
It is standard procedure to buy cryptocurrencies with other cryptocurrencies. However, with Zengo, in addition to trading your OmiseGO, you also have the option to purchase OmiseGO with real fiat currencies like Euros, US Dollars, and pound sterling.
Zengo offers a variety of different payment methods that are accessible by tapping on the buy icon. You can pay via Visa, Mastercard, mobile payment apps, SEPA, and Swift transfer, with there being a minimum amount of transfers applicable when using bank transfers (EU and UK only).
If you want to hold your OMG tokens for an extended period of time to profit from their long-term value appreciation, you can rest assured that Zengo allows its users to leverage the power of their cryptocurrency holdings.
Another great feature offered by the Zengo wallet is the crypto savings service feature. Savings can be found in its own separate tab in the wallet, and it lets you earn yield by lending or staking certain cryptocurrencies. This feature is limited to specific coins at the moment; however, more cryptocurrencies will be added in the future.
The OMG Foundation (OmiseGO) is a decentralized network; processing online payments is its main line of business. It strives to separate payment networks and create an open, public financial system.
OMG is the utility token used for the OMG Network, which was built on Ethereum’s blockchain with the aim to make Ethereum transactions quicker and cheaper by handling them off of Ethereum’s main network.
OmiseGO works as a subsidiary of SYNQA – a Thailand-based fintech company, formerly known as Omise Holdings. The key players in the OMG Network are Vansa Chatikavanij, Jun Hasegawa, and Ezra Don Harinsut.
The aim of OmiseGO is to allow its users to send funds over the network without going through a bank or paying a fee. It’s an alternative financial and digital commerce tool for everyone to use without having to deal with traditional banks, institutions, or card networks.
OmiseGO has been through a few name changes since it was first created in 2013. Originally known as Omise, a fintech company that was founded in Bangkok, Thailand, in 2013, it would later change its name to OMG Network in 2017 after a Hong Kong-based firm subsidized it. After partnering with Enya, the largest provider of security multiparty computation, OMG Network changed names again and is now known as OMG Foundation.
A total supply of 140.2 million OMG tokens was released during the initial launch. Out of the total supply, 65.1% was a public ICO, another 5% had been freely shared with users, and 20% was held as a reserve for the OMG Network. The remaining 9.9% has been stocked for the team.
OMG Foundation (also formally known as OmiseGO and OMG Network) is a sidechain scaling solution built on top of the Ethereum public blockchain. It is fully compatible with ERC-20 tokens and Ethereum.
Omise has several official partnerships with McDonald’s, Alipay, and even the Government of Thailand. When the Financial Minister of Thailand announced they would promote e-payments, they rolled out Omise’s FacePay, which allows users to use facial recognition to confirm payments.
With the OMG Network, you can conduct financial transactions like payments, remittances, payroll deposits, supply chain finance, loyalty programs, trading, and other on-demand services in a decentralized and inexpensive way.
As Omisego uses the Proof of Stake (POS) system, tokens cannot be mined. A POS system rewards users who already have their cryptocurrencies stored in a Wallet by generating new blocks and verifying the transactions and assigning them to users, taking into consideration the amount owned and wagered.
Zengo makes crypto transactions simple and intuitive. Zengo is the best app for new and veteran investors, providing multiple features to simplify trading and provide valuable insight into the market.
On top of its exceptional security, Zengo is a featureful app that enables its users to manage their cryptocurrency portfolios from a single dashboard, all with one easy tap of an icon. Offering the possibility to buy, sell, trade, and earn interest, Zengo goes beyond the classic storage capabilities of a crypto wallet.
Instead of only storing the private key on the user’s phone (and risking a lost device), Zengo splits the private key into two. One part is stored on its server, while the second one is kept on the user’s phone. The private key will be computed, and a transaction will take place only when the two parts of the key interact. Zengo’s wallet makes use of three-factor authentication as well as threshold key signatures and facial recognition to keep your crypto safe.
Zengo allows you to trade, buy, send, and receive crypto, all without additional transaction fees, meaning you get to stay in control of your OMG.
As Zengo uses state-of-the-art facial biometrics, you do not need passwords, seed phrases, or private keys. As a result, you don’t have to worry about your coins if you lose your phone.
The 24/7 support from the Zengo team will assist you with any questions you might have. Its live support function can help you sign, buy, sell, trade, and withdraw with ease.
You can learn more about our OMG wallet by reading some Frequently Asked Questions below.
Starting in crypto can be a scary thing when you don’t know where to begin or what to do. Luckily the Zengo app is user-friendly. All you need to do is download the app from your app store and follow the prompts. From there, you will verify your details, and once that is done, you can start buying crypto right away.
Zengo helps you avoid the hassle faced while timing the market when engaged in buying and selling in the short term by allowing you to store your OMG tokens for an extended period of time.
Think of the blockchain as a monetary safe that needs a password to open. Your OmiseGO (OMG) wallet acts as this password, allowing you to access your funds.
Your OmiseGO (OMG) wallet is your proof of ownership that is required to access your coins. We can compare the blockchain with a safe that keeps your token secure and which requires a combination password to open it. The wallet is the combination that unlocks the safe and allows you to access your tokens.
Your wallet address is automatically created the moment you create your Zengo account. Simply tap the asset on the home screen and swipe left for your QR code, followed by a series of numbers and letters that make up your wallet address.
If someone has sent you OMG tokens to your Zengo wallet, you will get a notification with a request. You then go onto your Zengo app, tap on the asset, and hit the receive button.
Disclaimer: The information provided herein is for educational purposes only. Zengo does not provide any investment or financial advice whatsoever. As with any financial or investment decision, conduct your own research and due diligence to properly evaluate the benefits and risks of any investment or financial transaction and seek the advice and guidance of qualified financial professionals, in connection with any investment or financial transaction.
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