Recently, the cryptocurrency world has expanded exceptionally, leading to different crypto coins. When it comes to trading these coins, everyone wants to be sure that they have the best token and the crypto platform. Buying and selling cryptocurrencies is a serious business, and therefore, you need to ensure you have found an ideal currency to have the best experience.
OMI crypto is a good token found in the cryptocurrency market. However, these coins are not among the most popular crypto coins, but they are gaining reputation and acceptance in the market. The OMI crypto has been listed on many crypto exchanges. This article will review this coin and discuss everything you need to know.
What is OMI Crypto?
OMI is a cryptocurrency offered and managed by ECOMI. The managing company, ECOMI, is a blockchain project started in Singapore. David YU is the company’s CEO and works along with the company’s co-founders, Joseph Janik and Daniel Crothers.
ECOMI collaborated with ORBIS Blockchain technology, and together they developed the VeVe platform. This platform would provide digital services like gaming, digital streaming, and online purchases of coins. Initially, the VeVe platform was referred to as ECOMI collect, and for reasons only known to the owners, this name was changed.
Besides the VeVe project, ECOMI has been working tirelessly to solve data protection and security issues. For this reason, they developed ECOMI Secure Storage Wallet, whose aim was to protect the clients’ data and crypto coins from cyberattackers.
In addition, the team is working to make the cryptocurrency user-friendly, and it is doing this by creating a digital assets ecosystem on its blockchain. The platform users will enjoy ownership, privacy, total control, and decentralization with these assets, and this is every investor’s dream.
Moreover, ECOMI aims to create a state-of-the-art platform to purchase, protect and collect crypto coins using Distributed Ledger Technology. The company will make this dream a reality by using its two renowned media; VeVe marketplace and ECOMI Secure Storage Wallet.
VeVe Platform Overview
VeVe platform was initially known as ECOMI Collect, but this name was changed later. VeVe app was launched towards the end of 2020, and it allows users to buy and sell digital collectibles, more specifically OMI coins. The app has more features that make it easy and enjoyable to use.
After the app was released, it was available on iOS or Android smartphones. Additionally, more than half a million digital collectibles have been sold using the app, which has attracted many reputable companies’ attention.
In addition, the VeVe app allows users to show off their crypto coins in the personal showroom. Moreover, users can interact with their friends on the app to comment and appreciate each others’ collectibles display.
ECOMI Secure Wallet Overview
ECOMI Secure Wallet is hardware that serves as a wallet, and it is similar to a ledger used by other cryptocurrencies. This hardware is roughly the size of a credit card, and it is an ideal crypto cold storage room. In addition, this wallet has been designed so it cannot connect to the internet, thus protecting your OMI coins from cyber attackers.
Furthermore, this ECOMI Secure Wallet can connect wirelessly to your mobile app. It has been securely designed, and it employs CC EAL5+ security standards to ensure the security of your digital collectibles. The wallet is not only for storing ECOMI OMI crypto coins but also for storing and securing other digital assets you own.
Why ECOMI Use Blockchain
ECOMI has employed blockchain technology to run its VeVe platform in several ways to make users’ platform experience possible. Below are more elaborate details of all the features found on the forum, making it effective in the cryptocurrency market.
Non Fungible Tokens
Digital collectibles or non-fungible tokens are the main attraction that ECOMI uses to attract more users to the VeVe platform. Blockchain technology enables the company and its users to utilize NFT standards that provide proven authenticity, verifiable ownership, and verifiable digital scarcity.
Blockchain technology has allowed the creation and utilization of OMI tokens. The VeVe platform uses the tokens for stacking, transacting, and accessing premium features. ECOMI minted 750 billion tokens, and they use the G-20 standards for security and effectiveness.
Moreover, the tokens are deflationary to avoid flooding in the crypto market. Deflationary standards are achieved because all the tickets used to purchase new NFT on the VeVe platform are sent to a locked account, therefore removed from circulation and cannot be reused anymore.
To maintain the high value of the cryptocurrency, ECOMI releases its created coins in a limited number series. Blockchain technology and NFT standards play a significant role in ensuring the scarcity of ECOMI coins. Moreover, the limited release of the coins encourages appreciation of the currencies in the market.
One of the benefits enjoyed by cryptocurrency companies when using blockchain technology is protection against forgery or counterfeit currencies in the market. This protection is because each NFT is uniquely generated and recorded in the blockchain and linked to a verifiable owner. Thus, there is no need to worry about counterfeit currencies due to verifying ownership.
With the integration of blockchain technology in the VeVe platform, users can now transfer their crypto coins within the mobile application. Users can now perform a trustless transfer of their crypto coins and other digital assets on a peer-to-peer basis.
Blockchain technology allows the transfer of assets to happen immediately with no delays or complications. After the successful transfer, the new owner gains access to the cryptocurrency, and the old lose access or rights to the assets.
All You Need to Know About ECOMI VeVe Platform
VeVe is a mobile application that ECOMI has employed purchases, sale, storage, and transfer of the OMI coins. Below is a detailed review of the application and its current features that have made it successful in the growing crypto market.
ECOMI uses the GoChain network for its NFT program instead of the Ethereum network. The company’s high officials reached this decision to avoid congestion and delays associated with the Ethereum network. This decision has enabled the oMI coin to be competitive in the market.
GoChain network was chosen for its high operation speed and low cost of operation. Moreover, the officials decided to use the GoChain network because it is easily compatible with the Ethereum smart contract. This compatibility means the ECOMI NFT smart contract can be integrated with the Ethereum ERC-721 token standard.
New digital collectibles are generated in the VeVe platform through a process referred to as minting each NFT in the central blockchain contract. After its creation, each NFT is given a unique URL that links its metadata, including the licensor, brand, and links to any associated digital assets.
Once the NFL is minted, ownership information is sent to ECOMI’s database for security and professional management on behalf of the owner. VeVe operates under a hybrid model that allows ECOMI to retain centralized ownership of the traded NFTs even after the users’ transaction.
VeVe store is also referred to as the marketplace. Users browse NFTs or purchase new NFTs in the secondary market. The app has been programmed with a good search tool that enables the quick and easy finding of the desired assets.
Each user has a personal VeVe store, and the store can deliver personalized content based on previous actions or searches. The purchases on the platform are paid using the stable coin OMI coin.
Moreover, the platform allows users to review unique collectibles in the VeVe store and learn more about their condition. Users’ information when inspecting the store includes its transaction history, ownership history, associated user assets, and many more.
The secondary marketplace of the VeVe platform allows the users to meet with one another and buy or sell or put their NFTs into the auction. People willing to sell their digital collectibles can indicate the number of OMI coins they want to complete the transaction.
Moreover, ECOMI puts the items auctioned on the users’ watchlist, making the monitoring easy and effective. In addition, users can view most of the things set to public and place their bids in the items available in the secondary market platform.
As its name suggests, a showroom is a place in the users’ accounts to show the digital collectibles they possess. They are customizable, and users can choose the NFTs to display and select the background and layout of the displayed NFTs.
Moreover, these VeVe showrooms can be set as either private or public. Any VeVe platform user using the public version of this platform can view all items placed here without validation from the account owner. In addition, users can comment or share their likes on the public showrooms or share them across social media platforms.
ECOMI launched its Initial Coin Offering (ICO) on May 12th, 2019. Moreover, ECOMI secured 15 licenses the same year and established their NFT support and a cryptocurrency wallet. In addition, they were also able to develop and launch their famous OMI crypto support.
According to reports released by the ECOMI team of management, they have developed one of the best platforms in the world for collecting and protecting licensed digital collectibles. They can do this through Distributed Ledger Technology and the employment of blockchain technology. OMI’s crypto cap currently stands at 2404, and there is more hope that it will continue to increase.
How is OMI Different
OMI crypto coins have been featured on several crypto exchanges over the years. However, it differs from other cryptocurrencies because you cannot use fiat currencies to purchase it. To obtain OMI crypto, you need to use other cryptocurrencies like Bitcoin.
How To Buy OMI Crypto
This section will help you figure out the entire process of buying OMI crypto. Below are the steps you need to follow to purchase this cryptocurrency.
Register on a Cryptoexchange Market
To purchase the OmI crypto, you first register on a cryptocurrency market like Coinbase. However, you will not purchase OMI coins here, but you will have to buy another cryptocurrency like Bitcoin or Etherium. These cryptocurrencies are the ones you will need to purchase the OMI crypto.
After registering on a cryptocurrency market, you will need to purchase your preferred crypto. In this step, you have to choose the payment method you are willing to use because several ways are available to you in the market. Choose your crypto and confirm the transaction.
Transfer Your Cryptocurrency into an Altcoin Exchange
Once you have acquired cryptos, you should register to an Altcoin Exchange and exchange them for OMI crypto. OMI is an altcoin, and thus it can only be attained using this method. You will need to register to an altcoin market similar to the cryptocurrency market. After the transfer of the cryptos, you will be able to purchase the OMI coins, and the process may take 30 minutes to a few days.
How to Buy OMI
You will click on the exchange section to trade your cryptos on the altcoin market. There is a search bar, and you can fill in the cryptocurrency you want to change; it may be either BTC or Etherium. After selecting your preferred crypto, you should type OMI, and an OMI/BTC or OMI/ETH will pop up.
It would be best if you chose the pair you want to transact. There is another section written Buy OMI, and you should click there and type the amount you wish to spend and finish the transaction.
How to Sell OMI Crypto Coins
The process of selling OMI crypto is similar to the one used to purchase it. You have to register to the exchange market first. Then you should check the amount of OMI you have in your VeVe store and compare it with the amount of cryptocurrency you can sell it on.
Finally, you should choose the amount you wish to sell and initiate the sale process. Confirm the price and fee of the transaction and close the sale for the day your transaction is complete.
The crypto market is at a young age, and there is a big room for expansion. ECOMI is a new company in the business, but we can confidently say the company has excellent potential to succeed. The leading team has encouraged innovation and continues improving their products.
Moreover, ECOMI is also working towards forging alliances with other experienced cryptocurrency companies like Bitcoin and Etherium. ECOMI has all that it takes to take over and dominate the cryptocurrency market in the coming years, and it is thus a good investment you should consider.