Step-by-Step Guide to Buy MANTRA (OM) on CEX.IO

Mantra is a decentralized (DeFi) platform focused on governance, staking, and lending. Its native cryptocurrency, OM, used for incentives, staking rewards, and governance, is now available at CEX.IO. 

Those interested in acquiring OM can register and verify at CEX.IO in under six minutes via our desktop web platform or iOS and Android mobile apps and receive a free crypto wallet for buying, selling, trading, and storing OM, as well as 200+ other vetted assets. 

In this article, we explore the Mantra project in more detail and how to obtain OM at CEX.IO. 

What is Mantra (OM)?

Mantra (OM) is a community-governed, decentralized finance (DeFi) platform. It is focused on staking, lending, and governance. Built on Ethereum (ETH) and compatible with Polkadot (DOT), it aims to provide secure, transparent, and user-driven financial services. 

OM, its native token, is used for governance, staking rewards, and ecosystem incentives. Mantra aims to position itself as a self-sustaining, user-focused DeFi ecosystem, emphasizing transparency and decentralized decision-making.

The Founders and People Behind Mantra

Mantra was co-founded by John Patrick Mullin, Rodrigo Quan Miranda, and Will Corkin. The team comprises blockchain experts focused on building a secure, decentralized financial ecosystem.

What Makes Mantra Potentially Unique?

Mantra aims to differentiate itself through its community-driven governance and multi-chain compatibility. Unlike Ethereum-based DeFi platforms, which typically come with high gas fees, Mantra is designed for interoperability with Polkadot, potentially allowing faster and cheaper transactions. 

Compared to Aave (AAVE) — also available at CEX.IO — which focuses purely on lending, Mantra aims to integrate staking and governance features, which could give users more control over protocol decisions. Its reputation-based Karma system also incentivizes long-term participation, which could make it engaging for committed users.

Potential Use Cases for Mantra

Mantra provides lending for liquidity access and governance participation for ecosystem decision-making. Institutions can use it for decentralized financial services, while retail participants can earn rewards through staking and yield farming, similar to what users can find within our Staking program, though OM is currently not supported. 

How to Buy Mantra (OM) on CEX.IO: A Step-by-Step Guide

Buying Mantra (OM) on CEX.IO is straightforward with the Instant Buy feature, which allows eligible users to purchase OM at market rates using various payment gateways. Follow these steps to get started:

1. Sign up for an account on CEX.IO.
2. Complete identity verification as required by KYC/AML policies.
3. Log in and navigate to the Instant Buy section.
4. Select Mantra (OM) as the cryptocurrency you wish to buy.
5. Choose your preferred fiat currency (USD, EUR, or GBP).
6. Enter the amount you want to spend or select from preset allotments.
7. Pick a payment method from the list of available funding pathways.
8. Carefully review the transaction details.
9. Follow the on-screen instructions to finalize your purchase.

How to Fund Your Purchase of Mantra (OM) on CEX.IO

CEX.IO provides multiple funding methods to help users buy Mantra (OM) quickly and securely. Users can choose from:

• Banking gateways – Credit cards, debit cards, and direct bank transfers.
• E-wallets – PayPal (for U.S. users only), Skrill, Neteller, Google Pay, and Apple Pay.
• Other alternatives – MoneyGram, Faster Payments, and prepaid cards.

Since payment methods vary depending on your country, we recommend checking which funding gateways are available in your region before completing your OM purchase.

FAQs

How can I track the price of OM on CEX.IO? 

Our cryptocurrency prices page offers a seamless way to track the real-time value of Mantra (OM) alongside 200+ carefully vetted digital assets you may be interested in. Additionally, you can explore the 24-hour price change and the current market capitalization of OM to stay informed about its market performance.

How to send and receive OM?

Once you set up a wallet on CEX.IO, you can transfer OM from external wallets to your CEX.IO Wallet. The same process applies when receiving OM from other users. Here’s how:

1. Go to your wallet and select OM as the cryptocurrency you want to receive.
2. Under the Add Funds section, find your OM deposit address.
3. Copy this address and share it with the sender.

Sending OM from your wallet is just as simple, whether you acquired it on CEX.IO or transferred it from another wallet. Follow these steps to send OM to other users or wallets:

1. Open your wallet and select OM as the asset you want to transfer.
2. Navigate to the Withdraw tab.
3. Choose the amount of OM you wish to send.
4. Enter the recipient’s address manually or scan their QR code.
5. Finalize the transaction by following the on-screen instructions.

What are the fees for buying Mantra (OM) on CEX.IO?

There are two key cost factors to consider when purchasing Mantra (OM) on CEX.IO. First, our transparent fee schedule outlines the charges associated with buying and selling cryptocurrencies, usually a small percentage of the transaction amount. Second, your chosen payment method may have additional fees. For instance, some credit card providers may apply a cash advance fee for crypto transactions.