Best OmiseGO (OMG) Wallets for 2019
Even though there’s still a lot of uncertainty surrounding the future of cryptocurrencies and the fact that the crypto market is still very much detached from the traditional financial field, investing in crypto projects can still be a very productive business.
Of course, choosing is not as simple as there are numerous interesting and appealing projects out there. However, projects that aim to solve real-life problems, with strong communities behind them, and with technology to match their aspirations are the ones you definitely need to aim for.
Although OmiseGo is not a very popular crypto project, and its coin is not widely supported in the crypto field, the project has seen an increase in popularity during 2018, making investors very optimistic for the project’s prospects for 2019 and beyond.
The most important reasons why OmiseGo is worthy of your attention and possible investment is related to the project’s goal, that of unbanking the banked, its Wallet SDK, the OmiseGO exchange platform, the Plasma network, and numerous noteworthy partnerships.
That said, if you’re thinking of investing in OmiseGo and you want to get your hands on some OMG tokens, then you’ll need a secure wallet. Fortunately, there are numerous good options out there, but before we list them, here are some of the main things you should look for in a wallet.
Things to Consider Before Choosing an OMG Wallet
Because OMG is an ERC-20 token (runs on the Ethereum blockchain), the first thing you need to ensure when looking for a wallet is its compatibility with the said token. Security should also be at the top of your priority list when choosing a new wallet.
As a general rule, you should always look for wallets with as many advanced security features as possible. If possible choose a hardware wallet as they offer the best possible protection of your private keys. Also, you’ll want a wallet that is HD (hierarchical deterministic), and does not store your private keys on any servers, and has two-factor authentication, as well as password login.
A good wallet (just like most software packages) needs to be constantly updated to remain relevant. In the case of crypto wallets, this is arguably even more important as each new day brings a series of new threats. Finally, choosing a wallet that has a modern and friendly user interface will not make your work easier, but it will also help you save a lot of time.
Here’s a list of the best OmiseGo wallets:
Ledger Nano S Wallet
Ledger Nano S is definitely one of the most well-regarded products currently on the crypto wallet market. It’s a hardware wallet that comes with support for over 800 cryptocurrencies (OMG included), and it has the full package of security features.
It’s very easy to use, as it can be connected just like any other portable device to your computer via USB, keeping your private keys protected via a PIN code, and two-factor authentication. The design is quite minimalistic, with a simple, tiny OLED display and two control buttons that allow you to quickly manage transactions.
Trezor ONE Wallet
Trezor is probably the biggest competitor for the aforementioned Ledger Nano S, and for good reason, as they cost almost the same (usually Trezor is a bit more expensive), have pretty much the same features, and boast support for almost the same number of crypto coins.
Just like the wallet mentioned before, your private keys are not exposed to the online environment. The wallet can be connected to your computer via USB, and it allows you to generate a 24-word recovery seed.
MyEtherWallet is without a doubt the most popular OmiseGO wallet for Ethereum aficionados. During the years, MyEtherWallet has created a respectable image for itself thanks to its interesting mix of versatility, accessibility, and security.
What makes this wallet better than most web wallets is the fact that it doesn’t store your private keys on its servers, but, instead, it allows you to store them on your own device (computer). It’s true that the wallet’s interface is not the most user-friendly one out there, but if you’re looking for a good web wallet for your OMG tokens, it’s worth having the patience to learn your way around.
Exodus is a popular and highly accessible, multi-currency desktop wallet. Besides OMG tokens, Exodus is capable of holding over 100 other cryptocurrencies. It’s available for all the popular OSes out there such as Windows, Linux, and macOS.
The wallet is renowned for its outstanding interface, probably the most aesthetically pleasing one in the industry. It’s not all looks and no show, as the wallet provides you with a ton of useful information, especially the stylish charts which can be personalized to perfectly suit your needs. As a bonus, Exodus boasts ShapeShift integration which means that you can easily exchange between coins without having to leave the app.
Eidoo is a multi-currency, multi-platform wallet that supports well over 500 cryptocurrencies, including ERC-20 and ERC-223 tokens like OMG. Besides the good levels of security it provides (it’s an HD wallet which allows you to store your private keys on your device), the wallet is especially appealing for its system compatibility. It comes with bespoke clients for Windows, macOS, and Linux, as well as mobile platforms such as iOS and Android.
Eidoo also has a built-in, hybrid exchange that looks like a centralized exchange, but it uses a DEX highly specialized in ERC-20 trading, making it a very good choice for OMG holders, or users who are investing in the Ethereum ecosystem.
OmiseGO Paper Wallet
Despite the fact that there is no official paper wallet generator for OMG tokens, you can very easily use the previously mentioned MyEtherWallet to generate a paper wallet. Even though they might seem useless, paper wallets actually offer a high level of protection (considering the fact that they are by no means connected to any device or to the online world). Of course, the easiest and simplest way to create a paper wallet is to take a piece of paper and write your private keys on it. Just make sure you store it properly.
We hope our list of the best OmiseGo wallets proved useful to you, and we wish all the best in your future endeavors as a crypto investor in 2019.