Buy OMG
in South Korea

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 South Korea. The South Korean government has taken a
cautious but supportive approach to the development of the cryptocurrency industry, and has
implemented a number of regulations to promote the growth of the sector while protecting
consumers and investors. The legality of trading cryptocurrency in South Korea is governed by
the Virtual Currency Act. The mentioned act defines virtual currency as a type of electronic
asset that can be used as a medium of exchange, but does not have legal tender status.
According to the same act, in South Korea, individuals and businesses can legally buy, sell,
trade, and hold cryptocurrencies such as Bitcoin, Ethereum, and others. However, the use of
cryptocurrency as a means of payment for goods and services is still limited.
It is important to keep up to date with the latest developments and regulations in the
cryptocurrency sector in South Korea, as the legal and regulatory framework for cryptocurrency
may change over time.

Yes. According to the the Virtual Currency Act, in South Korea, cryptocurrency is taxed as
income under the Income Tax Act and the Corporate Tax Act. According to these laws, profits
derived from the sale or exchange of cryptocurrency are considered taxable income and are
subject to both personal income tax and corporate income tax. The tax treatment of
cryptocurrency in South Korea depends on the individual's or company's status and the purpose
of the transaction. For individuals, cryptocurrency gains are taxed at a flat rate of 20% for short-
term gains (held for one year or less) and a graduated rate for long-term gains (held for more
than one year). For companies, cryptocurrency gains are subject to corporate income tax at the
standard corporate tax rate.
It is important to note that individuals and companies are responsible for reporting their
cryptocurrency-related income on their tax returns. Failure to accurately report and pay taxes on
cryptocurrency-related income can result in penalties and fines. Also, the regulation and
taxation of cryptocurrency in South Korea is subject to change, and it is advisable to stay
informed of the latest developments and seek professional advice on tax matters related to
cryptocurrency.

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 South Korea, any individual or entity, including residents and non-residents, can buy
cryptocurrency as long as they have a valid bank account and comply with the applicable laws
and regulations. There are no restrictions on who can buy cryptocurrency in South Korea, and
anyone with the necessary resources and knowledge can participate in the market. The best
way to buy cryptocurrency in South Korea depends on your specific needs and preferences but
the most common way to buy cryptocurrency in South Korea is through a cryptocurrency
exchange. Our platform allows you to buy, sell, and trade cryptocurrency using Euros. In
addition, our exchange is a trustworthy and safe choice for buying cryptocurrency in South
Korea. It operates within the law and offers a range of convenient payment options, including
Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal, without any
transaction fees to keep costs low.