Buy OMG
in Japan

Trusted by OMG buyers, you can buy and trade OMG in Japan and 100+ countries on Blocktrade without any fees easily. 

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Learn More about buying OMG in Japan

How to buy OMG in Japan

Is OMG a good investment in Japan?

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.

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What is OMG ?

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).

Learn more on OMG official website.

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Is OMG legal to buy in Japan?

Yes. In Japan, cryptocurrency is considered legal and regulated under the Payment Services
Act, which was enacted in April 2017. The Act defines cryptocurrency as a form of property and
also recognizes cryptocurrency as a form of asset and allows individuals to buy, sell, and hold
cryptocurrency as a means of payment. In addition, cryptocurrency exchanges operating in
Japan are subject to government regulation and must comply with anti-money laundering act
(AML) and know-your-customer (KYC) regulations.

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Is OMG taxed in Japan

Yes. According to the official Tax Answer No.1500 released by the Japanese National Tax
Agency (NTA), cryptocurrency is taxed in Japan as a form of property and profits obtained from
cryptocurrency trading will be treated as "miscellaneous income"(or zatsu-shotoku in
Japanese). This means that gains from selling cryptocurrencies will be taxed in a similar manner
to other sources of income, such as employment income. Individuals who trade
cryptocurrencies are subject to taxation on any capital gains they attain from selling their
cryptocurrency holdings. As per the Japanese Income Tax Law for Virtual Currencies, gains
from the sale of cryptocurrency are considered taxable income and may be subject to both
individual income tax and resident tax. In accordance with the two Tax Laws mentioned, the tax
rate for individuals can range from 5% to 55% depending on the amount of the gain, while the
resident tax rate is 10.21%.

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After you've bought OMG in Japan

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.

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Who can buy OMG in Japan?

Anyone. It is worth noting that there is no specific requirement for citizenship or residency in
Japan for purchasing digital assets, so foreign individuals can also buy cryptocurrency in the
country. In order to buy cryptocurrency in Japan, it is advised to research and choose a
reputable cryptocurrency exchange that operates in Japan and supports the cryptocurrency you
want to purchase. For this matter, our exchange is legal, safe, and supports a wide range of any
desired cryptocurrency while providing you with various payment options to choose from like
Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal. Plus, we charge no
exchange fees for these secure transaction services.

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Buy OMG at your ease

Payment methods to buy OMG in Japan

Credit Card

Debit Card

Bank Transfer

Credit Card

Debit Card

Bank Transfer

PayPal

Google Pay

Apple Pay

PayPal

Google Pay

Apple Pay

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Just 3 easy steps to your first investment in OMG

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FAQ

Frequently asked questions

The OMG coin is available on most exchanges. You can buy OMG coins on the Blocktrade exchange at the most affordable price. Since you don’t need to pay an extra amount as a processing fee on this exchange, buying OMG would be more cost-effective for you.

Yes. According to the Virtual Currency Tax Guideline pamphlet by the Japanese National Tax
Agency (NTA), in Japan, using cryptocurrency to pay for goods or services is subject to
consumption tax (消費税). This tax is imposed on the value of the goods or services being
purchased, and the rate varies depending on the type of goods or services. For example, the
standard rate for most goods and services is 8%. This means that if you purchase an item for
100,000 yen and pay with cryptocurrency, you will be required to pay an additional 8,000 yen in
consumption tax. It’s important to note that the seller is responsible for collecting and remitting
the consumption tax to the government, but as a buyer, it’s good to be aware of this tax
obligation.

According to the official Tax Answer No.1500 in Japan, there are currently no tax-free
cryptocurrency transactions. All cryptocurrency transactions, including buying, selling, and using
cryptocurrency to pay for goods or services, are subject to either capital gains tax or
consumption tax, or both. The Japanese National Tax Agency considers cryptocurrency to be a
form of property, and as such, any gains from selling cryptocurrency are taxed as capital gains.
Additionally, using cryptocurrency to purchase goods or services is subject to consumption tax.
It’s important to consult with a tax professional for more information on specific tax obligations
and to ensure compliance with Japan’s tax laws.

The OMG network is a Thailand-based company founded in 2013. Vasana Chatikavanij joined OmiseGo in 2017 after spending 7 years at the World Bank. After two years, he was elected as the CEO of the company.

It’s difficult to estimate the exact number of people in Japan who own crypto assets, but it was
estimated by some sources that in Japan, about 4.0%, which would be around 5 million of its
population, owned some form of cryptocurrency. However, these numbers can change rapidly
due to frequent movements in the crypto market.

The future of cryptocurrency is not predictable. However, experts believe OMG coin has a bright long-term future. As a future investor, you should still be aware of what’s happening to the market so that you can make a better decision about buying and selling your coins.

Trusted crypto platform in Japan!