Where to Buy Osmosis Crypto (OSMO)

Osmosis (OSMO) is a decentralized exchange built atop the Cosmos blockchain, much like UniSwap is built on Ethereum (ERC-20) or PancakeSwap is built on Binance Smart Chain (BSC) network. That said, in this guide, we’ll share some general information about the token, as well as where to buy Osmosis crypto.

All-in-One Crypto Exchange - Get Your First Coins in 2 Minutes

• Multiple Licenses - Reliable and Regulated

• Service Diversification - One-Stop Trading Platform

• Copy Trading - Get Copied, Get Paid

• Easy Deposit & Withdrawal - From Fiat to Crypto, Fast and Easy

500,000+ Users

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What is Osmosis (OSMO)?

Osmosis stands as one of the pioneering AMM Decentralized Exchanges (DEXs) built on Cosmos, a network referred to as the “Internet of Blockchains.” This network, or ecosystem of interconnected blockchains, is engineered for scalability and cross-functionality, enabling developers to construct interoperable decentralized applications (DApps). 

Osmosis particularly focuses on promoting the InterchainDeFi movement (blockchains based on Tendermint) within the Cosmos ecosystem and is also responsible for about 40% of all transactions moving between blockchains on Cosmos.

Where to buy Osmosis (OSMO)? 

To buy or trade OSMO, you’ll need to register with a cryptocurrency platform. We recommend using a regulated crypto exchange like BYDFi. 

BYDFi is a cryptocurrency exchange that offers a broad selection of cryptocurrency trading pairs, from popular coins like Bitcoin (BTC) and Ethereum (ETH) to more niche altcoins. The platform also provides a comprehensive array of financial tools, including spot transactions, crypto derivatives like contracts for differences (CFDs), and leveraged tokens, as well as margin trading and copy trading.

For a more detailed view of the cryptocurrency exchange, check out our in-depth review of BYDFi here.

All-in-One Crypto Exchange - Get Your First Coins in 2 Minutes

• Multiple Licenses - Reliable and Regulated

• Service Diversification - One-Stop Trading Platform

• Copy Trading - Get Copied, Get Paid

• Easy Deposit & Withdrawal - From Fiat to Crypto, Fast and Easy

500,000+ Users

Get Started

How to buy Osmosis (OSMO) in 2 minutes: Step-by-step

Next, we’ll guide you through the step-by-step process of buying Osmosis using BYDFi.

Step 1: Create a free account on the BYDFi website or app 

You can create an account with BYDFi via their mobile app or website. There are two options for registering with BYDFi: 

Email registration:

1. Input your email address;
2. Click on “Send” to receive the verification code delivered to your registered email address;
3. Enter the email verification code sent to you;
4. Create a password;
5. Click on “Get Started” to finalize your registration.

Mobile registration:

1. Choose your country/region and provide your mobile number;
2. Click on “Send” to obtain the verification code;
3. Input the SMS code sent to you;
4. Create a password;
5. Click on “Get Started” to finalize your registration.

Step 2: Fund your account with USDT

Since you cannot buy OSMO directly with fiat currency on BYDFi, you must first top up your account with Tether (USDT) stablecoin.

For this, navigate to “Buy Crypto” on BYDFi’s main page. Note that third-party service providers, not BYDFi, process fiat deposits. 

Next, select your preferred fiat currency (currently, 54 fiat currencies are supported), and specify the amount you wish to deposit. You can determine the deposit sum based on the cash or USDT amount you’re comfortable with, provided that you meet the purchase limit requirements set by the service provider. Now, pick the service provider. You can use Visa, Mastercard, SEPA, as well as Apple Pay and Google Pay.

Upon clicking “Buy Now,” you’ll redirect to the service provider’s page. At this point, you will be asked to complete the service provider’s KYC procedure (be aware that the KYC information from BYDFi cannot be directly transferred or applied to the service provider’s KYC process).

Step 3: Use USDT to buy OSMO

Once you have deposited USDT into your account, proceed to the “Spot” section located on the main interface of BYDFi. Despite BYDFi offering an advanced variant of their spot trading platform, our focus will be on the classic version, as most users, particularly new ones, will likely be more comfortable with it.

There are two types of orders available to you:

1. Limit order: The order carries out once the designated price is reached, assuming there’s adequate liquidity. Bear in mind that limit orders may be partially filled;
2. Market order: This order type will execute instantly at the most favorable market price currently available.

For example, say you place a market order to buy OSMO. You enter the USDT amount you want to spend, e.g., 500 USDT. The order will execute immediately when you press the ‘Buy OSMO’ button, after which you will receive OSMO equivalent of 500 USDT. 

Step 4: Review the fees and confirm your order

Purchasing cryptocurrency via BYDFi using fiat money will incur transaction fees imposed by the service providers (for the exact charges, refer to the official website of the corresponding provider).

BYDFi imposes straightforward and competitive fee structures. Depending on the specific cryptocurrency involved, spot trading fees can range from 0.1% to 0.3%.

Step 5: Set up storage

Once you’ve purchased OSMO, you can either move it to your personal crypto wallet or store it in your BYDFi account.

Your digital assets on BYDFi are secure in offline, deep cold storage wallets, thereby mitigating any single point of failure. 

Furthermore, BYDFi incorporates multi-signature technology for deposit and withdrawal transactions, providing an additional layer of protection against potential attacks and loss of access to keys or facilities.

Even in an extreme situation where the entire system, including the web server, transaction engine, and database, is compromised, a potential infiltrator would not have enough keys to steal the funds as no private keys are stored on any of the cloud servers.

OSMO price today

Pros and cons of buying Osmosis (OSMO)

Pros

• Community engagement: OSMO is a governance token allowing its holders to participate in important decisions about the future of the Osmosis protocol;
• Potential for large returns: In contrast to crypto giants like Bitcoin, Osmosis’s relatively lower market capitalization might theoretically offer a superior opportunity for doubling your investment. For instance, it’s comparatively simpler for an entity valued at $1 million to escalate to $2 million than for a company valued at $500 billion to attain a $1 trillion valuation. This principle, known as the law of large numbers, asserts that the potential growth of larger-cap assets is naturally constrained when compared to smaller ones. In other words, as companies mature and expand, their growth rates are anticipated to decelerate.

Cons

• Regulatory uncertainties: Governments worldwide are still in the process of determining appropriate regulatory measures for cryptocurrencies. Unfavorable regulations or outright bans would likely impact the value of OSMO; 
• Closely tied to the broader crypto market: The value of Osmosis, as for any crypto token, is intricately linked to the overall crypto market. A downturn in the market would likely result in a proportional drop in the value of Osmosis. Unfortunately, as we have witnessed, the crypto market is susceptible to significant volatility;
• Lack of adoption: While the project might seem promising, it ultimately depends on the adoption by developers and users. A lack of adoption can decrease the token’s demand and value.

Mistakes to avoid when investing in cryptocurrencies

As newcomers in the investment arena, cryptocurrencies inherently exhibit more volatility than traditional investment vehicles such as stocks or bonds. Moreover, due to a less rigid regulatory framework, these digital assets have a higher risk of fraudulent activities, including pump-and-dump schemes or rug pulls, putting both novice and seasoned investors at significant risk.

Moreover, while cryptocurrency exchanges in the United States need to register with the Financial Industry Regulatory Authority (FINRA)—which enforces certain stipulations, including the implementation and maintenance of anti-money laundering (AML) and customer identification programs (CIPs) — the cryptocurrency assets themselves remain unregulated.

Tips when starting out with crypto

However, you can take steps to lessen the risks associated with cryptocurrency purchases. Here are some common pitfalls to avoid when investing in digital currencies to better protect your assets and finances: 

• Not researching the crypto token you want to buy: Make sure you understand how the particular cryptocurrency works and what the risks are;
• Not using a secure device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
• Using a sketchy exchange: Ensure the exchange has a license from appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where they’ll keep your money and what happens to it if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
• Not securing your account: Use two-factor authentication and a strong password to protect your account;
• Not using a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
• Investing money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
• Forgetting your investments: Because of the extreme volatility of crypto markets, monitoring your investment is crucial. Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

Crypto trading tips

The intrinsic volatility of cryptocurrencies presents an extensive array of trading options. Fundamentally, these price fluctuations pave the way for traders to apply strategies such as cryptocurrency day trading or scalping, empowering them to benefit from the sudden price changes in a particular cryptocurrency.

As such, apart from delving into the crypto market and its trends, it might be valuable to familiarize yourself with a range of advanced trading approaches, which include:

• Understanding technical analysis; 
• Utilizing various technical analysis instruments such as oscillators,  moving averages, Bollinger bands, support and resistance, and so on; 
• Introducing yourself to chart patterns such as the double top pattern, golden cross, double bottom pattern, and head and shoulders;
• Mastering day and swing trading, as well as scalping techniques.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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