What is Omgfin?
OMGFIN is a cryptocurrency exchange based in Estonia that obtained its exchange license from Estonian authorities. Launched in 2018, it has gained recognition in the crypto trading space.
Trading Volume Growth
As of October 24, 2019, OMGFIN reported a 24-hour trading volume of USD 8.9 million. Fast forward to December 2, 2021, the trading volume significantly increased to USD 81 million, showcasing substantial growth over time.
US-Investor Restrictions
Unfortunately, as of the latest information, OMGFIN does not allow trading for US investors. Individuals from the United States looking to engage with OMGFIN will need to explore alternative exchanges that currently support US investors.
OMGFIN Trading View
OMGFIN offers a trading view with features common to various exchanges. Users can access the order book, price charts, and order history. The platform provides buy and sell boxes for seamless trading. It is recommended for users to assess the trading view personally to ensure it aligns with their preferences.
Trading Fees
OMGFIN imposes a flat trading fee of 0.10% for both takers and makers. This rate is below the industry average, which has traditionally hovered around 0.25%. The industry trend towards lower fees is evident, with OMGFIN reflecting this shift by offering competitive rates.
Withdrawal Fees
For withdrawals in Bitcoin (BTC), OMGFIN charges a fee of 0.0005 BTC. Comparatively, this fee is significantly lower than the global industry average BTC withdrawal fee, which stands at 0.000812 BTC. Overall, OMGFIN's withdrawal fees are approximately 40% lower than the industry standard.
Deposit Methods
OMGFIN exclusively accepts cryptocurrency deposits. New investors aiming to trade on OMGFIN must acquire cryptocurrencies from another exchange before depositing them into their OMGFIN accounts.
Conclusion
OMGFIN stands out with its below-average trading and withdrawal fees, making it an appealing option for cryptocurrency traders. However, potential users should be aware of the restriction on US investors and the exclusive use of cryptocurrencies for deposits.
What are the trading fees on Omgfin?
OMGFIN imposes a flat trading fee of 0.10% for both takers and makers. This rate is below the industry average, which has traditionally hovered around 0.25%. The industry trend towards lower fees is evident, with OMGFIN reflecting this shift by offering competitive rates.
Does Omgfin offer leverage trading?
OMGFIN does not currently offer margin trading or leverage options.
