Buy OMG
in Cyprus

OMG was released in 2017 with an initial price of $0.53. It rose to $11.38 in September 2017 and started 2018 with a surprise. At the beginning of the year, OMG reached its all-time highest price of $28.35. Although it fell quickly, it was still a wonderful profit for people who had bought this coin one year earlier. 2018 didn’t end well, because OMG's price dropped to $1.25 in December. It also experienced two years of recession in 2019 and 2020. However, it seems that these years were a great time to buy OMG as a long-term investment because in 2021 it rose to $20 and became a profitable investment again. OMG price passed 2022 with almost a stable price and ended the year at $1.02. 

How well might OMG perform in the future? Will its price grow again? These are the questions that no one can answer. But people who want to buy OMG would like to know if their investment might be profitable. Since the cryptocurrency market is volatile, the future is not predictable. However, analysts and crypto experts usually give price predictions based on technical and fundamental analysis of a coin. What they predict about the future of OMG is not bad. Some of them believe OMG's price would rise to $13 by 2026, and it might reach $30 by 2030.

The OMG network is an Ethereum-based centralized payment system that supports different digital assets. It uses the Proof-of-Stake protocol to secure staking on its platform. The company was founded in 2013 and is called OmiseGo. Then its blockchain was launched in 2017, and the company rebranded to OMG network in 2020. The main goal of the OMG network is to facilitate the transfer of assets from different e-wallets. Its vision is also to speed up transaction time and reduce transaction fees. OmiseGo or OMG project allows users to create a wallet on their blockchain; In fact, this cryptocurrency is a software development kit (SDK).

Yes, cryptocurrency is legal to buy in Cyprus. In Cyprus, the Cyprus Security and Exchange
Commission (CySec) has been designated as the competent supervisory authority for matters
relating to crypto asset regulations. CySec has issued its regulatory framework through which it
authorizes the trade, sell, buy, hold and many other cryptocurrency transactions. According to
this above-mentioned framework, Cyprus has embraced the use and trade of cryptocurrencies,
and the government has not placed any restrictions on buying or owning digital currencies.

Yes, cryptocurrency is taxed in Cyprus. The tax treatment of cryptocurrencies in Cyprus is
similar to that of other financial assets. Cryptocurrency is taxed in this country according to the
Income Tax Law, the Corporation Tax Law, and the Capital Gains Tax Law. These laws apply to
all forms of income, including income derived from cryptocurrencies, and set the rules for
taxation of profits from trading or investing in cryptocurrencies. According to the above-
mentioned Income Tax Law, income generated from trading or investing in cryptocurrencies is
subject to income tax. Also, if the trading or investment is considered personal, then the profits
are subject to personal income tax. According to the mentioned Corporation Tax Law, if the
trading or investment is considered a business activity, then the profits generated are subject to
corporate tax. The taxation of gains from the sale of cryptocurrencies, in accordance with the
mentioned Capital Gains Tax Law, is subject to capital gains tax in Cyprus. This tax applies to
profits made from the disposal of assets, including cryptocurrencies.
It's important to note that the exact tax treatment of cryptocurrencies may vary based on the
specific circumstances of each case, and it is recommended to seek the advice of a tax
professional for more information. Additionally, the tax laws in Cyprus and the way in which they
apply to cryptocurrencies may change over time, so it is advisable to stay informed of any
updates or changes.

OMG is mainly usable on the OMG platform as a utility token. People can use this coin for staking or to pay transaction fees. It is not used to pay for services or payments outside the platform.

On the other hand, for investors, the usage of a coin is the least important factor because they want to buy the coin and sell it in the future. However, coin use also can impact its price. Therefore, don’t underestimate it. If you want to keep OMG coins as an investment, read all about its past, predictions for the future, and the updates that might happen to its network. You can also follow crypto experts on social media to know their opinion and comments about OMG. In the end, if you have bought OMG and kept it in a safe and protected wallet, always check the price of the day to find the right time to sell. It is recommended the beginners start with a minimum amount and consider an exit point for their investment to avoid any loss.

In Cyprus, anyone who is legally allowed to own and trade financial assets is able to buy
cryptocurrency. This includes citizens, residents, and non-residents. To buy cryptocurrency in
Cyprus, individuals typically need to open an account with a cryptocurrency exchange or broker
that operates in the country. Using an exchange as your cryptocurrency service provider would
be of most convenience. Our secure and trustworthy exchange platform provides a range of
convenient payment methods, including bank transfer, credit/debit card, PayPal, Google Pay,
and Apple Pay, to buy cryptocurrency in Cyprus. With our platform, you can purchase, sell, and
exchange digital tokens using the Euro. Our exchange operates within the bounds of the law
and doesn't have any extra transaction costs.