How to Buy OMI on AscendEX

The OMI token is the native utility token of the ECOMI ecosystem, which powers the VeVe digital collectibles platform. VeVe allows users to buy, sell, and trade licensed digital collectibles from popular brands, and OMI plays a key role in these transactions. Many people are interested in purchasing OMI either to participate directly in the VeVe marketplace or as part of a broader cryptocurrency portfolio. One of the main exchanges where OMI is available is AscendEX, previously known as BitMax.

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What Is the OMI Token?

OMI is the utility token of ECOMI, a blockchain-based company focusing on digital collectibles and security solutions. Its flagship app, VeVe, offers a platform where users can purchase officially licensed digital collectibles in a virtual marketplace. OMI is used to facilitate transactions within the VeVe app, such as buying collectibles, covering fees, and ensuring a seamless trading experience. While the VeVe marketplace primarily operates with in-app credits called “Gems,” OMI supports the underlying tokenomics and provides a connection between the app and the wider crypto ecosystem.

Why Buy OMI on AscendEX?

AscendEX is one of the key exchanges that support OMI trading. There are several advantages to using this platform:

  • Liquidity: AscendEX provides a market with relatively strong liquidity for OMI, which helps ensure smoother trading and less slippage.
  • Accessibility: The platform is user-friendly and available to traders worldwide, subject to regional regulations.
  • Reputation: Formerly BitMax, AscendEX has established itself as a reputable exchange since 2018, offering a variety of cryptocurrencies and trading features.

These factors make AscendEX a practical choice for those looking to buy and trade OMI.

Steps How to Buy OMI on AscendEX

If you are new to the exchange, here is a straightforward process to purchase OMI:

1. Create and Verify an AscendEX Account

Visit the AscendEX website or download the mobile app. Sign up using your email address, set a strong password, and complete the verification process. Depending on your location, identity verification (KYC) may be required for deposits, withdrawals, or higher trading limits.

2. Deposit Funds (Fiat or Crypto)

You can fund your AscendEX account in two ways:

  • Fiat deposit: Depending on availability in your region, you may deposit local currency via bank transfer or credit/debit card.
  • Crypto deposit: Alternatively, you can deposit a widely used cryptocurrency like Bitcoin (BTC), Ethereum (ETH), or Tether (USDT) from another wallet or exchange.

3. Search for the OMI Trading Pair

Once your account is funded, go to the trading interface. Use the search bar to look for OMI trading pairs, such as OMI/USDT. Select the pair to proceed.

4. Place a Buy Order

Choose the order type that suits your needs:

  • Market order: Buys OMI immediately at the current market price.
  • Limit order: Lets you set a specific price at which you want to buy.

Enter the amount of OMI you wish to purchase and confirm the transaction.

5. (Optional) Withdraw OMI to a Personal Wallet

For long-term storage, many users prefer to withdraw tokens from the exchange. You can transfer your OMI to a compatible external wallet to maintain control of your holdings.

How to Store OMI Safely

Once you own OMI, storage is an important consideration:

  • Hot wallets: Software wallets connected to the internet, such as mobile apps or browser extensions. These are convenient for frequent access but may be more vulnerable to hacking.
  • Cold wallets: Hardware or paper wallets that remain offline. These provide stronger security for long-term holdings.

Whichever method you choose, keep your private keys and recovery phrases secure and never share them with anyone.

Things to Consider Before Buying OMI

Before making a purchase, be aware of the following:

  • Fees: Trading, deposit, and withdrawal fees vary depending on your method of funding and trading activity.
  • Volatility: Like most cryptocurrencies, OMI’s price can fluctuate significantly in short periods.
  • Regional restrictions: Availability of OMI and fiat deposit methods may depend on your country of residence.
  • Security practices: Use two-factor authentication (2FA) and follow safe password management practices to secure your Exchange account.

Buying OMI on AscendEX is a relatively straightforward process: set up an account, deposit funds, trade for OMI, and, if desired, transfer it to your own wallet for safekeeping. As with any cryptocurrency purchase, it’s important to be mindful of fees, risks, and security. Always do your own research (DYOR) before making financial decisions and choose storage methods that align with your goals.