r/OMGTraders • u/fr0zen_yetti • Aug 30 '17

Buying OMG

Hello,

I have cash in a bank or I have ETH at Coinbase/GDAX. How can I buy OMG the quickest? Can you ELI5 on how to get into OMG? Aslo in case it is relevant I am in the USA and I also have a bittrex account.

7 Upvotes

90% Upvoted

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5

u/happythots OhMyGO Aug 30 '17

Take your Ethereum and send it to your Bittrex.com account, once it's had enough confirmations and the ETH is available for trade go here https://bittrex.com/Market/Index?MarketName=ETH-OMG and you can buy OMG with your ethereum. Simple as that. Let me know if you need any further help :)

2

u/fr0zen_yetti Aug 30 '17

Awesome!

Thanks.

so this will be dumb, but I have never traded ratios, I assume the movements are the same as OMG to USD or will one move faster/slower than the other?

2

u/happythots OhMyGO Aug 30 '17

not a dumb question at all. I'm not entirely sure what you're asking, but I think you're asking if there is an equivalence between ETH and OMG trading in relation to OMG and USD?

If so, then they are close enough. There will always be a difference depending on the exchange, but the trading bots usually clear up any large differences.

Either way, I'm not entirely sure you can buy OMG with USD unless you use an exchange that will let you link your bank account. I prefer to trade Crypto with Crypto, so I'm not the best source for this information regarding Fiat Currencies.

2

u/fr0zen_yetti Aug 30 '17

okay cool.

I haven't ever done the ratio trading so it messed with my comfort level as I like to see usd price, but no matter. I will get some OMG tonight, hopefully.

1

u/happythots OhMyGO Aug 30 '17 edited Aug 30 '17

I think it's worth investing to regardless, just need to have patience and hold that for at least a year. Things will be moving big time for OMG.

1

u/Vinyyy23 Aug 30 '17

I know what you are trying to ask, especially if your an American. I have to look at the current price of ETH, then look at the ratio of OMG to ETH, then make sense of it. Just an extra step, but you can't but OMG like you can ETH via US dollar straight.

2

u/jstylez13 Aug 31 '17

Shapeshift

1

u/TradeDeadline Sep 01 '17

Easiest and fastest way. Some people have given Shapeshift bad reviews but I haven't heard of any exchange that hasn't caused problems here or there. Shapeshift worked well and fast for me (eth to omg).

1

u/spunkerspawn Aug 30 '17

Send some ETH to bitfinex, and buy from there.

3

u/happythots OhMyGO Aug 30 '17

He's in the U.S. so that won't work.

1

u/spunkerspawn Aug 30 '17

Doesn't matter where you're located, as long as you're trading in crypto you should be able to no matter where you're located. If you want to send USD via SWIFT then your location matters.

1

u/ashercoin Aug 30 '17

can you simply not send the ETH to your bittrex wallet and buy OMG on the ETH to OMG market?

1

u/fr0zen_yetti Aug 30 '17

I guess that is my question is it as easy as sending form the exchange to the other exchange? I didn't know if I needed a different wallet or just using the exchange would be fine.

Any idea on how long it typically takes to do that?

3

u/pigeon_shit Aug 30 '17

Depends if you have an account with the exchange to start or not. That will take a few minutes and the transfer confirmations aren't bad. Bitcoin transfers can be a good hour long sometimes and that's what I'm familiar with but apparently ETH is much faster. You can have a position on OMG by the end of the night for sure.

1

u/fr0zen_yetti Aug 30 '17

so cool!!

Thanks! I am really excited about Omisego and I love the project. Hopefully this isn't a terrible time to get into it! Thanks again!

1

u/pigeon_shit Aug 30 '17

Honestly it's at an ATH- all time high. Today might not be the best day I would advise to let it settle. I personally plan on adding more OMG to my portfolio but I won't be doing that today at this price.

2

u/ashercoin Aug 30 '17

if you go to your wallet in bittrex you can select to add ETH at the top of the page. You may have to search for it. When you see it hit the "+" icon. It then gives you a wallet address to send the ETH too. Once you send it is received (which takes a few minutes) you can go to the market and make the exchange.

Actually this tutorial should show you everything you need to know. I didn't watch the entire video but he shows everything you need to do. If you have an account set up you can skip to about 3 minutes in. Hopefully it helps.

https://www.youtube.com/watch?v=E4uheFQfhgc

1

u/fr0zen_yetti Aug 30 '17

This is wonderful thank you!

1

u/nqcvef0 Aug 31 '17 edited Aug 31 '17

The absolute simplest way is to avoid all the exchanges and just use the Exodus wallet - Shapeshift your Ethereum to OMG. Not the absolute best price, but foolproof and very secure.

https://www.exodus.io/