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Well, you’ve realized the NFTs hype and are considering taking advantage of it, hum? So, how to buy OMI on Coinbase? This is what I’m about to share with you, step by step
If you’re a non-tech beginner who has never purchased crypto before, this quick guide could be of great help and can help you avoid any losses!
In this article, I will be showing you the exact process of buying OMI tokens by using the Coinbase and Bitforex platforms.
If you find this post inspiring and useful, share it with your friends, please! (Virtual high fives and awkward hugs to all my sharers out there ✋)
The 6-Step Process Of Buying OMI On Coinbase
We’ve recently been featured on ECOMI’s official Twitter page for writing a thorough step-by-step guide on how to buy OMI. However, we’ve been receiving many requests for a quick tutorial on purchasing OMI on Coinbase, and we’ve taken the call!
Below is a quick illustrated overview of how to buy OMI tokens using Coinbase and Bitforex:
Step 1 – Create A Coinbase Wallet & Fund It
Coinbase is one of the biggest and most trusted crypto wallets out there! It’s easy-to-use, is designed quite well, and will protect your coins with multiple security features (i.e. 2-FA).
Creating a Coinbase wallet is fairly easy and can be done in a matter of minutes. You simply go to Coinbase.com and click the “Get Started” button in the top right. Alternatively, you can click the button below this image to receive $10 in free Bitcoin if you spend over $100!
After creating your Coinbase wallet, you would need to link a payment method and fund your account with some cryptos. And this what takes us to the next step.
Step 2 – Sign Up For The BitForex Exchange
Currently, the ECOMI token is listed and can be traded only on two exchanges; BitForex and AscendEX. We’ve been using Bitforex for purchasing OMI and everything is always fast and smooth.
Being said, in order to be able to buy some OMI, you would need to have a BitForex account, which is free to sign up for. First, you would need to go to Bitforex.com and then create a free account.
You can register to Bitforex using this link and claim a 30% discount on your trading fees! Alternatively, you can click the image or scan the code below to claim your discount.
eComDimes would like to invite you to join BitForex.
Scan the QR code to register.
Our invitation code: 2686953
Step 3 – Transfer Your Crypto From Coinbase To BitForex
In this step, you would need to go ahead and transfer the crypto you’ve purchased on Coinbase (be it Bitcoin, Etherium, or any other cryptocurrency) and move them to Bitforex, in order to be able to purchase OMI.
Below is a quick illustration with screenshots to help you visually understand how the process exactly works:
First, you would need to go to your BitForex dashboard – Assets – Deposit, and select the coin or token that you’ve purchased on Coinbase.
Important Tip: Make sure to select the right cryptocurrency or otherwise, you’ll lose them forever! For example, if you’ve purchased Bitcoin on Coinbase, you would need to select BTC in your BitForex account. The same applies to any coin or token you want to transfer from.
Once you’ve done that, a deposit address will populate for you, and you need to go ahead and copy that big combination of alphabets and numbers because here’s exactly where you want to transfer your crypto at!
After then, you would need to your Coinbase account and hit the “Send/Receive” button in the top right area.
- To – Here, you would need to paste the digital asset address that you’ve copied from your BitForex account. The address that you will transfer your crypto to.
- Note – This note is for your own reference, to understand what you’ve purchased and transfered.
- Pay with – Here you will select the digital asset, coin or token that you have in your account.
Generally speaking, sending Bitcoin can take anywhere from seconds to over 60 minutes. Typically, however, it will take 10 to 20 minutes.
You’ve got your wallet filled with BTC on BitForex, now what?
Now, you would need to convert those Bitcoins into OMI. Let me show you how easy it is to do exactly that.
Step 4 – Transfer Your Coins To The Spot Account
By default, when you receive coins on Bitforex, they will land in your main wallet. In order to be able to trade them, you would need to go ahead and transfer them to your spot account.
To do that, go to your BitForex panel, and click on “Transfer”. Check the screenshot below!
Luckily, transferring digital assets from/to wallet and spot accounts doesn’t have any fees, and below are the 5 insider steps for doing so:
- Step 1. Select your coin/token that’s in your wallet. If you transfer BTC from Coinbase then it’s BTC.
- Step 2. Select where you’re transferring from, which in your case is “wallet.”
- Step 3. Select where do you want to transfer your assets to, which is the “spot account” in this case.
- Step 4. Select the amount you want to transfer into your spot account.
- Step 5. Hit confirm and you’re good to go.
A quick recap of what we’ve done so far. We’ve purchased our coin/token on Coinbase, transfered them to our BitForex wallet, then to our BitForex spot account. Now, we would need to go ahead and purchase some $OMI 🙂
Step 5 – Trade Bitcoin For USDT
To convert your coins to OMI, you would need to firstly convert them to USD Tether. This is the final step before purchasing OMI, and it’s so simple. Just follow along!
What you need to actually do is to go to your spot account and select the BTC/USDT pair.
After then, you would need to scroll down to the bottom of the page, select the amount you want to sell, and hit the sell BTC option.
Now, you’re completely done with BTC, and that what takes us to the final step; purchasing some OMI babe…
Step 6 – Trade USDT For OMI
In this final step, you would need to switch the pair to USDT/OMI. Here’s how to do it:
Again, scroll to the bottom of the page and trade your USDT for OMI.
Welcome to the family baby! You’re officially an OMI token holder, congratulations 🎉
What you would need to do next is to transfer them from your spot account to the wallet again, sit on them and just watch your investment grow over time.
Is OMI A Good Investment?
There’s a great company behind the OMI token that has a solid vision and huge potential. Currently, Veve is only competing with itself, and I believe that the team behind it is building something awesome that will last forever.
Please remember that this is not a piece of financial advice, but I will personally be holding on to this for years as I believe in the company’s vision!
With the fact that NFTs are growing in popularity day after day, investing in a company that is just becoming the leader in this industry could be a wise decision that might yield huge profits in the next couple of years.
So, are you considering holding some OMI tokens and investing in this ever-growing company? This article shows the exact step-by-step process of doing exactly that!
Finally, if you’ve purchased OMI tokens and are looking forward to learning how to safely save them, here’s a quick guide by ECOMI that takes
Generally speaking, MetaMask is just the optimal option for saving your tokens safely, and this is what I’ve personally done. Here’s a screenshot from my personal MetaMask wallet!
- Create a Coinbase account and receive free $10 in Bitcoin.
- Create a BitForex account and receive a 30% trading fee discount.
Finally, if you find this post inspiring and useful, share it with your friends, please! (Virtual high fives and awkward hugs to all my sharers out there ✋)
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