How to Sell OmiseGo (OMG)
As a crypto trader or investor, there may be times when you’ll need to sell OMG.
Fortunately, an exchange like Kraken with a real-time order book can offer you the ability to sell OMG for a wide variety of other assets, as well as a range of government currencies.
That said, OMG is a cryptocurrency, meaning it trades against these assets on an open market. Depending on when you decide to sell OMG, buyers may offer higher or lower prices.
Please note, if you’ve been storing your OMG in a wallet you control, you may also need to buy ether. As OMG runs on Ethereum, sending OMG to an exchange requires costs be paid to its network. (For more on how this works, visit our ‘What is Ethereum?’ guide).
Once you decide to sell OMG, follow the steps outlined below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some OMG!
New to crypto?
For more details on how OMG derives its value, read our official “What is OmiseGo?” guide.
Why sell OMG?
Depending on your risk tolerance and investment allocations, you may also find it advantageous to sell OMG for other cryptocurrencies or fiat.
You might sell OMG if you want to:
- Adjust your long-term crypto portfolio strategy
- Avoid losses in times of sudden price movements
- Capture gains from past OMG purchases
- Exchange OMG for other crypto or fiat currencies
How to sell OMG on Kraken
If you’re ready to sell OMG, follow these simple steps below:
Sign up for a Kraken account.
You just need to create an email address, username and a strong password.
Verify your Kraken account.
Provide your name, birth date, country of residence and phone number.
Send OMG to Your Kraken Address
If you want to sell OMG for another cryptocurrency (like ETC or BAT), first you’ll need to create a deposit address in your Kraken account. Depositing OMG on Kraken is as easy as transferring it to any cryptocurrency address.
If instead you want to sell OMG for a fiat currency (like GBP or EUR), you’ll need to send us identification and proof-of-residence documents. Learn more about our verification levels here.
Once your account has received funding, you can begin selling OMG and other cryptocurrencies on Kraken.
Start selling OMG
Still having trouble selling OMG? You can always let our support specialists assist you.
Available 24/7, they're ready to answer questions large and small via LiveChat or by email regardless of where you are in the world.