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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

Pros

  • 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

Cons

  • 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!

It's worth trying! Forget selling your

OmiseGo

with instant crypto backed loans on YouHodler

If you would like to learn more about crypto credits, please continue to the app. Start boosting your crypto portfolio now with YouHodler's crypto lending, convert, buy and sell options.

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