Omgfin Review 2024

Our veredict

OMGFIN is a centralized cryptocurrency exchange based in Estonia, known for its user-friendly interface and social networking features tailored to enhance the trading experience. Launched in 2018, OMGFIN offers trading in over 47 cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Litecoin. The platform’s trading fees are competitive, with a flat rate of 0.10% for both makers and takers, which is below the industry average. Additionally, the withdrawal fee for Bitcoin is 0.0005 BTC, also below the global average.

However, there are some drawbacks. OMGFIN does not support fiat currency deposits, which can be a barrier for new investors who need to convert fiat to crypto elsewhere before trading on the platform. Furthermore, US investors are not permitted to trade on OMGFIN, limiting its accessibility to a broader audience. Despite these limitations, OMGFIN is well-suited for experienced traders who appreciate its social trading features and lower transaction fees.

Pros

1. Low Trading Fees OMGFIN charges a flat rate of 0.10% for both makers and takers, which is below the industry average, making it a cost-effective platform for traders.
2. Wide Range of Cryptocurrencies The platform supports over 47 different cryptocurrencies, allowing users to diversify their portfolios and take advantage of various market opportunities.
3. User-Friendly Interface OMGFIN's interface is designed to be intuitive and easy to navigate, providing real-time market data and trading tools that cater to both beginners and experienced traders.

Cons

2,5

Threenvest Score

Fees

0.20% per transaction

U.S Legal

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Why choose Omgfin?

First, OMGFIN offers low trading fees of just 0.10% for both makers and takers, which is below the industry average. This makes it a cost-effective platform for frequent traders. Additionally, the withdrawal fees are also relatively low, making it economical for users to move their assets.

Second, OMGFIN supports a wide range of cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Litecoin, as well as many other promising digital assets. This variety allows traders to diversify their portfolios easily and take advantage of different market opportunities. The platform’s user-friendly interface, which includes comprehensive market data and trading tools, makes it accessible for both beginners and experienced traders.

Lastly, OMGFIN’s unique social trading features create a supportive trading environment. Users can form trading teams, follow and learn from more experienced traders, and engage with a community of like-minded individuals. This social aspect is particularly beneficial for new traders who can gain insights and strategies from the community, enhancing their trading experience and potentially increasing their success rates.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend OMGFIN for its competitive trading fees and extensive range of supported cryptocurrencies. The platform’s unique social trading features make it an excellent choice for both new and experienced traders looking to learn from and engage with a community. With its robust security measures and user-friendly interface, OMGFIN provides a secure and efficient trading environment.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.