How To Get Your First ONG

This article was first published on OntologyNetwork - Medium
-----

This guide was prepared by your Telegram admin & Ontology Harbinger Dumont.

I decided to create this guide to ensure that everybody knows how to obtain ONG without asking for donations. We have an awesome community which is always helpful to those in need, but requests for ONG encourage spam that harms our community chats and threads. Some users also expose their wallet addresses. Wherever you are based, there is a way to get your first ONG, so let’s dive in!

First, let’s recap Ontology’s dual token model:

The Ontology dual-token design uses ONT for staking and ONG as gas. ONT is used as the staking tool, and the time cost of staking and the operating costs of the nodes are considered to be inputs, with ONG distributed as revenue. ONG is the utility token used as a value anchoring tool for on-chain applications (source).

In short, you can get ONG as a reward for staking ONT. However, you also need 0.05 ONG per transaction on Ontology’s chain. The same goes for staking or claiming staking rewards. So the question you might be asking yourself is, “Where do I get my first ONG tokens to start staking or to just move my stuck ONT tokens?”

Where to get ONG?

1. Centralized Exchanges (easiest)

You can always check available markets at coinmarketcap or coingecko, but the most popular option is definitely Binance. With Binance, you can buy any amount of ONG and withdraw it to your wallet with only a 0.1 ONG withdrawal fee. Binance does not require KYC and for unverified accounts offers a 2 BTC daily withdrawal limit. The easiest method is to deposit some crypto (listed on Binance) and trade it for ONG.

If you cannot access a centralized ONG markets due to your geographical location, see the alternative ...

-----
To keep reading, please go to the original article at:
OntologyNetwork - Medium

Comments (No)

Leave a Reply