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How & Where to Buy Algorand A Step-by-Step Guide to Buying ALGO

  1. Sign up at Binance.US, the #1 rated ALGO exchange.
  2. Fund your account with cash or crypto.
  3. Buy AlgorandALGO
  1. STEP 1Find the Best ALGO Exchange
    • binance.us logo
      Ease of use
      Easy
      Time to 1st Buy
      24 hrs
      24h Volume
      $27,986,487
      Coins
      66

      Founded in 2019 as the USA-focused branch of the Binance family of exchanges, Binance.US supports trading in over 50 cryptocurrencies and has the same industry standard low 0.1% fees as the original international Binance exchange. American users can buy crypto directly with a debit card, but Binance.US is not available in 7 states, including New York & Texas.

    • fLpdtiaZ
      Ease of use
      Easy
      Time to 1st Buy
      2 hrs
      24h Volume
      $
      Coins
      57

      No platform has been able to attract first-time cryptocurrency investors quite like Coinbase. Each quarter, millions of new users sign up and take advantage of the simplest and smoothest customer purchasing journey in the market. Coinbase also aims to educate beginners, paying them in crypto to learn about different projects.

    • Current Coinbase Pro Review
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume
      $-1
      Coins
      48

      Coinbase’s advanced cryptocurrency trading platform has lower fees and far more functionality. Formerly the highly popular GDAX, Coinbase Pro was purchased and rebranded with great success, now boasting one of the highest daily trading volumes and average liquidity. Highly secure with zero hacks. You can connect accounts to Coinbase to access wallet holdings.

    • kraken exchange
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume
      $189,010,906
      Coins
      91

      A decade of security, honesty, and transparency has given San Francisco’s Kraken an impressive reputation and helped it become the fourth-largest cryptocurrency exchange in the business. The brokerage service offered by Kraken has more coins to buy and sell directly with cash than most of their competitors. In addition, debit and credit card purchases are permitted with comparably low fees. Well-suited for beginners and those who want to buy and hold coins long-term.

    • 102
      Ease of use
      Average
      Time to 1st Buy
      2 hrs
      24h Volume
      $1,042,022,137
      Coins
      298

      China’s biggest cryptocurrency exchange and the second-biggest exchange in the world. Huobi is highly respected and well designed, with a stunning trading platform, more than 50 fiat currencies accepted, and fair trading fees. Now based in Seychelles and listed in Hong Kong, it serves a primarily Asian customer base.

    Go to Binance.US and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Algorand AlgorandALGO quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy ALGO with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for ALGO.

Frequently Asked Questions About Buying & Selling Algorand (ALGO)

How do I Buy ALGO with Crypto?

If you want to buy ALGO with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for Binance.US and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to Binance.US.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Algorand (ALGO)?

To sell ALGO, simply reverse the buying process described above. You will likely need to trade your AlgorandALGO into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Algorand Research Center

Algorand Technical Details & Statistics

Tokenomics
  • Market Rank28
  • Market Cap2,190,581,071
  • Circulating Supply6,972,613,467
  • Total Supply7,373,852,414 ALGO
  • Max Supply10,000,000,000
Yesterday's Trading
  • 24 HR Volume69,642,677 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

How and Where to Buy Algorand (ALGO)

Silvio Micali founded Algorand in 2017 as a platform to build products and services for a “borderless economy”. From 1983, he worked in the Electrical Engineering and Computer Science Department at the Massachusetts Institute of Technology. His research interests include zero-knowledge, cryptography, mechanism designs, secure protocols, pseudorandom generation, and blockchain.

Micali is one of the foremost crypto creators globally. He has won multiple awards, including the Turing Award for Computer Science, for his contributions to electronic cash, the theory and practice of secure two-party computation, cryptocurrencies, and blockchain protocol. He also won the RSA prize in cryptography and the Gödel Prize in theoretical computer science.

Micali oversees all research for Algorand, including security, theory and crypto finance. He is the co-inventor of: –

  • Probabilistic encryption
  • Verifiable Random Functions
  •  Zero-Knowledge Proofs
  • Many other protocols at the foundation of today’s cryptography

Algorand’s vision is “A world where everyone creates and exchanges value efficiently, transparently, and securely.” – Algorand’s website

Algorand has a mission to build global trust through decentralization, create simple designs and elegant technology to eliminate barriers to prosperity and drive the adoption of cryptocurrency to billions of people globally.

What Is Algorand (ALGO)?

Algorand is a decentralized, autonomous blockchain-based network. The Algorand systems are scalable, secure, and efficient, supporting a broad range of real-world applications, and can support computations requiring dependable performance guarantees for creating new forms of trust.

“We are the world’s most decentralized, scalable, and secure blockchain infrastructure. From decentralized finance to generative NFT art (and everything in between), our sustainable blockchain is powering economic models of the future.” – Algorand website.

In June 2019, the Algorand mainnet went live, and by December 2020, it was handling almost 1 million daily transactions. These metrics continue to increase. At the same time, Algorand launched their ICO with the $ALGO token. This native coin helps secure the Algorand platform, and it rewards operators.

What Makes Algorand (ALGO) Unique?

The purpose of Algorand (ALGO) is to improve blockchain efficiency, speed up transactions, and lower transaction fees. It uses a PoS (proof of stake) consensus mechanism – a permissionless blockchain protocol requiring no miners.

The Algorand protocol is built on a carbon-negative network. In October 2021, Envision Racing announced a multi-year partnership with the Algorand Foundation “Greenest blockchain’ Algorand partners with ‘the Greenest Team on the Greenest Grid’ Envision Racing to ensure the next generation of blockchain adoption and innovation is environmentally friendly.” –  Algorand Foundation website.

In February 2022, the Algorand Foundation announced the intention to develop the virtual “London Bridge” with a $10 million grant. Previously, the Algorand blockchain has had liquidity issues, despite fast transaction speeds and high scalability. Therefore, this trustless bridge introduces Ethereum compatibility with its robust ecosystem for DApps. As a result, Algorand’s blockchain liquidity will improve via the bridge.

In March 2022, Algorand introduced “Algorand State Proofs” (ASPs), a new interoperability standard that connects blockchains securely to the outer world without trust in an intermediary. The website states that “All Proof of Stake chains can implement State Proofs to remove trust from the cross-chain equation.”

  1.   It’s fast – It takes less than 4.5 seconds to send $ALGO tokens to another wallet. Confirmation is instant
  2.   Scalability – The Algorand blockchain can support billions of users, and the enhanced scalability does not affect transaction speeds
  3.   Trustworthy – the design of the Algorand blockchain prevents forking, thus preventing the risks of a blockchain splitting and a user not knowing if their transaction was successful. Algorand states, “no forks ever.”
  4.   Transparency – on 19th June 2019, the Algorand blockchain created 10 billion $ALGO tokens. All transactions are visible in the Algorand blockchain
  5.   Security – transparency does not compromise security. The highly advanced cryptography ensures users’ payment information remains private at all times

 

How and Where to Buy Algorand (ALGO)?

The most crucial step when buying cryptocurrency is choosing the right platform. The world’s largest crypto exchange is Binance. It’s a popular choice for crypto beginners, traders and investors.

So, when you’re ready to buy Algorand (ALGO), this is how you do it: –

  1. Open the Binance website and click on “Register”
  2. Submit your verification documents, such as passport, utility bill etc
  3. Once your account is confirmed, click on “Deposit”
  4. Binance accepts Mastercard, Visa, wire transfers or crypto deposits
  5. Click on the “Exchange” tab. You have several choices of currency pairs for buying $ALGO: ALGO/USDT, ALGO/BUSD, ALGO/BTC, ALGO/BNB, ALGO/RUB
  6. Complete your purchase
  7. It’s essential now to store your new purchase of $ALGO tokens. Binance has the Trust Wallet mobile wallet app you can download to your phone, or you can use the exchange wallet. Alternatively, if you already have an off-ramp wallet that supports $ALGO tokens, you can send them to that

How do I Sell Algorand (ALGO)?

Selling your Algorand (ALGO) tokens is an easy process

  1. Convert your $ALGO tokens to a stablecoin such as $USDT
  2. Transfer the $ALGO from Binance to an off-ramp platform, like Gemini or Coinbase
  3. Log in to the off-ramp platform and convert the $USDT to the fiat currency of your choice, and then request a withdrawal to your bank account
  4. Enjoy the profits you made from your $ALGO tokens

 

Should I Buy Algorand (ALGO)?

We advise doing your due diligence when purchasing cryptocurrency. We aren’t qualified investment experts, so we cannot provide advice. Still, if you are ready to add Algorand (ALGO) to your investments, we recommend choosing a reliable crypto exchange like Binance, KuCoin or Coinbase. All three platforms are established and popular with crypto enthusiasts, traders and investors. They have good liquidity and a good range of markets and coins

How do I invest in Algorand (ALGO)? Safely?

The cryptocurrency market is highly volatile, and all investments come with risk. If you want to invest in Algorand (ALGO), you must buy from a crypto exchange with a proven reputation, such as Binance, Coinbase and KuCoin.

After purchasing, never leave your $ALGO tokens floating on the crypto exchange. Before buying, open a secure wallet that supports $ALGO tokens. Binance has an exchange wallet and an industry-leading mobile wallet app, the Trust Wallet. KuCoin has non-custodial and custodial options, and Coinbase provides a self-custody wallet.

 

Algorand (ALGO) pairs on Coinbase and KuCoin crypto exchanges

  • Coinbase – ALGO/USD, ALGO/EUR, ALGO/GBP, ALGO/BTC
  • KuCoin – ALGO/USDT, ALGO/BTC, ALGO/ETH, ALGO/KCS