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How to buy Olympus (OHM)

Learn how to buy Olympus (OHM) on 3+ crypto exchanges in our step-by-step guide.

Olympus (OHM) is the 177th largest cryptocurrency by market cap, valued at US$355,301,773.

Olympus is a highly volatile asset capable of major price swings in a single day. Today the price of OHM is $21.68, which is higher than yesterday's trading price of $21.46. Over the past year, Olympus's price has seen an increase of 81%.

So before you buy Olympus, make sure you understand these unique risks as well as its legal and tax status here in the US.

If you're ready to get started, read on for step-by-step instructions on how you can buy Olympus.

How to buy Olympus in 5 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy Olympus is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit USD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy Olympus
    You can now exchange your funds for Olympus. On beginner-friendly exchanges, this is as simple as entering the USD or OHM amount you want to purchase and clicking "buy".
  5. Secure your Olympus
    Consider transferring your OHM to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy Olympus

Find an exchange to buy, sell and trade OHM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

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What is Olympus?

Olympus is a Decentralized Autonomous Organization (OHM) that operates within the fast evolving decentralized finance (DeFi) landscape. It has helped facilitate the creation of a stablecoin that is backed by various cryptos (much like how DAI functions) instead of a fiat asset such as the US Dollar, Euro, etc. According to reports available online, available online Olympus makes use of two separate reward-centric protocols — namely staking and bonding — as a means of incentivizing users to deposit/sell their collateral to the Olympus treasury in exchange of OHM tokens (that are provided to them at a highly discounted rate).

How do I find the best places to buy Olympus?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy Olympus?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Olympus.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing OHM with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy Olympus?

Once you've created an account, you will need to deposit funds to buy OHM with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy OHM:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase OHM by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for OHM on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy Olympus?

The easiest way to buy OHM is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying OHM, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Olympus has been performing recently.

Best Olympus wallets to store your OHM

You can keep your OHM on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your OHM below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,000+

Price (USD)

$149

Price (USD)

$129

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Olympus a good investment?

OHM is the token that is required to facilitate any internal operation taking place within the Olypus ecosystem. Here are a few key pointers to bear in mind before investing in the asset:

  • Unique value proposition:As per the official project whitepaper whitepaper Olympus' reserve asset 'OHM' is designed to help weaken the crypto market's overt reliance of the US dollar by pegging it to alternative stores of value, all while affording users the many benefits afforded by famous stablecoins such as USDT, USDC, etc.
  • Novel liquidity creation mechanism:While a number of DeFi platforms suffer from the issue of 'liquidity migration', causing their financial mechanisms to time and again be faced with various operational issues, Olympus is able to mitigate this problem by owning its liquidity pool via a process call bonding — wherein the platform generates liquidity from its users in return for discounted OHM tokens.
  • No details about dev team available: Even though the project is self-governing, thanks to its use of a DAO-centric framework, it should be mentioned that there are no details about any of Olympus' core team members.
  • Crypto-based pegging model: As per the project websitewebsite Olympus works as 'decentralized reserve currency' that is governed by the OHM token, with each coin being backed by a number of different cryptos including DAI, FRAX, amongst others. As a result, the asset cannot ever fall below a set intrinsic value, giving it a unique economic framework that regular stablecoins cannot achieve.

    Today's Olympus price versus ATH

    Compare today's price of Olympus ($21.68 USD) against its all-time-high price of $1415.26 USD on 25 April 2021. The closer the bar is to 100%, the closer OHM is to reaching its ATH again.

    Olympus's price: $21.68
    ATH date: April 25, 2021
    1.53%

    Olympus ATH: $1415.26


    How to trade, convert or sell Olympus

    You can convert or sell your OHM with the same exchange you bought it through:
    1. Sign in to the exchange you have OHM on.
    2. If you store your Olympus in a digital wallet, compare crypto exchanges to convert or sell it on.
    3. Choose Sell or Convert and place a sell order.
    4. Choose the amount of OHM you'd like to convert or sell.
    5. Confirm the sell price and fees and close your sale of Olympus.
    6. Complete your transaction and move your OHM to a wallet for storage.

    Disclaimer: Cryptocurrencies, including Olympus, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of OHM is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Olympus or any other cryptocurrency discussed.

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