The Easiest Way To Buy Algorand (ALGO) – Details Inside

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By Crypto Vibe

How To Buy Algorand (ALGO)

The Algorand mainnet surfaced live in June 2019 with a capacity to handle almost 1 million transactions per day. ALGO is a self-sustaining, decentralized, blockchain network that supports a wide range of applications. The network is secure, efficient, and scalable. If we talk about the key goal of the ALGO creators, Algorand was designed to speed up and enhance the transactions across digital platforms. Other cryptocurrencies and blockchain protocols like Bitcoin offered a rather slow transaction system. With very low transaction fees and no mining, Algorand is a permissionless PoS blockchain network. Interested to buy Algorand (ALGO)? Here is the method to do it!

Buy Algorand (ALGO)

Register On Crypto Exchange

Since ALGO is an altcoin, it can not be purchased directly with money. You will first need to buy Bitcoin (BTC) or Ethereum (ETH). To do that, you need to register on any of the credible crypto exchanges like Coinbase.

Buy Cryptocurrency With Cash

Once registered on the crypto exchange, you can buy BTC or ETH by paying cash through bank transfer or using an instant cash deposit (applicable in some countries).

Transfer Cryptocurrency To Altcoin Exchange

You will need to transfer your purchased cryptocurrency to an exchange that allows ALGO trading. Some of the popular altcoin exchanges include, Binance, HotBit, and Poloniex. Just like other crypto exchanges, you will need to register on any of these first. While this may be valid, you may need to first check which of the altcoin exchanges allow ALGO trading.

Deposit Your Crypto

After registering for altcoin exchange, you will be eligible to exchange your cryptocurrency. However, the exchange policies may vary depending upon the alt exchange you are using. If you want to deposit BTC to an exchange, you will find a string of random numbers saying ‘BTC address’ in the exchange app. Once you locate it, click on ‘Copy Address’ or simply select the address by right-clicking and copying the address.

Now, head to your crypto exchange e.g. Coinbase, and go to the Portfolio page. Once the page is open, click on your assets list and then click ‘Send’.

You can now paste the copied wallet address to the ‘Recipient’ field and click on ‘Send’ to proceed.

Once your exchange is successfully through, you will receive a confirmation email from your altcoin exchange.

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Purchase ALGO

You can now open your altcoin exchange and select BTC from the options above the search bar. We choose BTC because we are trading bitcoins to purchase ALGO. Now, type “ALGO” in the search bar and you will find the available sets of pairs.

Select the pair to see the price chart. Once you are ready to make the purchase, click on the green button ‘Buy ALGO’.

Following the above-mentioned steps, you can easily buy Algorand (ALGO) with your BTC or ETH on any of the altcoin exchanges.