In this guide you’ll get information about where to buy Mantra, if you are planning to buy OM token – You’re in the right place!
Mantra is a community governed financial protocol aiming at giving financial control back to people in a fully decentralized ecosystem. The team of Mantra that is composed of various crypto experts with backgrounds in entrepreneurship and finance decided to establish a new protocol of DeFi with community-governance functions supported by OM as its native token. Among the team and developer members are John Patrick Mullin, James Anderson, and Stephane Laurent Villedieu.
This community-governed DeFi platform is built on the Parity Substrate for the Polkadot ecosystem in a transparent and decentralized way. Built for the web 3.0., Mantra tries to give financial control back to the people to gain profit together. Its features mainly focus on Lending, Staking, and Governance.
Table of Contents
Mantra (OM) Features
- Multi-asset staking and lending platform. Through Mantra, users are able to perform different transaction types including lending, savings, and governance because this platform provides cross-chain access to other projects of DeFi. Among the tokens users can stake are OM, Polkadot (DOT), and other supported DPoS assets. They will receive OM tokens as staking rewards in return. Users also have the options to collateralize their loans with the OM tokens.
- Merit-based reward system. This incentive system enables users to gain rewards because they use the platform actively. Users’ participation is scored using Mantra’s reputation mechanism called Karma Protocol. The protocol has ten tiers. Each of the tiers unlock various perks that let users to get additional incentives to increase their OM token, gain more rewards, reduce fees, and more.
- DAO. Users can take part in important protocol decisions using their exclusive voting rights. Additionally, they are given to options to lend or stake their assets by depositing the assets on Mantra’s smart contracts. By doing so, they get OM tokens and incentives in return. Other users can loan these assets and in this way the platform’s lending services are powered up.
Where to Buy, Sell and Trade Mantra aka OM
You can basically use debit card, credit card, or even PayPal to buy the Mantra (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Mantra as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin or Tether first. After you get the ETH or BTC or USDT, you can convert it to Mantra. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Mantra currency and exchange your Ethereum / Bitcoin / Tether with the Mantra
- Store your Mantra to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Mantra, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Mantra:
IMPORTANT! Once you are registered to any of the above, find the OM/BTC or OM/ETH or OM/USDT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum/Tether
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Mantra (OM) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Mantra (OM) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Mantra. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Mantra (OM) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Mantra (OM) with Skrill?
You can’t buy OM directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Mantra. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Mantra (OM) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair OM/BTC and begin the transactions.
Can I Buy Mantra (OM) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support OM/ETH trading pair.
What Is the Best Payment Method to Buy Mantra (OM)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Mantra right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Mantra (OM)?
Once you have purchased the Mantra, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Mantra (OM)?
Find a crypto exchange which allow pairing OM with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Mantra (OM) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Mantra is to buy it from a reliable exchange.
Mantra is definitely a project with a lot of potential as it tries to provide accessibility, autonomy, and ownerships to anyone who want to start using DeFi. As the community gets larger, the OM token will rise in value. Therefore, Mantra’s team should drive its growth by enhancing the growing adoption of the token as a payment method at least within Mantra’s platform. It is because the value of OM depends on the demand for the platform’s services.