How to Buy Algorand

Algorand (ALGO) cryptocurrency ranks at 47 place by capitalization. It’s 14 May 2024 on $1,395,365,317 year. Circulating supply: 8,154,250,459. Maximum supply – 10,000,000,000. The price of ALGO for today – $0.17092 with trading volume of $45,351,443 for 24 hours. The maximum price of Algorand was registered on 20 June 2019 year and was – $3.560. The lowest price of ALGO, $0.08751, was registered on 11 September 2023.
Algorand (ALGO)
$0.17092 -3.87% ↓
24h price change
-0.006876 $
Capitalization
$1,395,365,317
24h trading volume
$45,351,443
on the official website

How to Buy Algorand Price in USD: Convert to US Dollar

ALGO
AlgorandALGOAlgorand
BitcoinBTCBitcoin
EthereumETHEthereum
TetherUSDTTether
BNBBNBBNB
SolanaSOLSolana
USDCUSDCUSDC
XRPXRPXRP
Lido Staked EtherSTETHLido Staked Ether
ToncoinTONToncoin
DogecoinDOGEDogecoin
CardanoADACardano
Shiba InuSHIBShiba Inu
AvalancheAVAXAvalanche
TRONTRXTRON
Wrapped BitcoinWBTCWrapped Bitcoin
PolkadotDOTPolkadot
Bitcoin CashBCHBitcoin Cash
ChainlinkLINKChainlink
NEAR ProtocolNEARNEAR Protocol
PolygonMATICPolygon
US Dollar
USD
US DollarUSDUS Dollar
/wp-content/themes/tgd/assets/images/content/flag_eu.svgEUREuro
/wp-content/themes/tgd/assets/images/content/flag_ru.svgRUBRussian Ruble
/wp-content/themes/tgd/assets/images/content/flag_ua.svgUAHUkrainian hryvnia
/wp-content/themes/tgd/assets/images/content/flag_pl.svgPLNPolish zloty
/wp-content/themes/tgd/assets/images/content/flag_gb.svgGBPPound sterling
/wp-content/themes/tgd/assets/images/content/flag_jp.svgJPYJapanese yen
/wp-content/themes/tgd/assets/images/content/flag_ch.svgCHFSwiss Franc
/wp-content/themes/tgd/assets/images/content/flag_cn.svgCNYChinese Yuan
/wp-content/themes/tgd/assets/images/content/flag_tr.svgTRYTurkish Lira
on the official website
Data updated 5/15/2024

    Algorand blockchain was launched in 2017 by MIT professor Silvio Micali. The ecosystem was conceived as a basis for decentralized applications and solutions development for the real economy. Today, ALGO is considered one of the most promising cryptocurrencies and is available for purchase on many cryptocurrencies exchanges.

    Algorand is a high performance and carbon negative blockchain.

    Read the review from TGDRatings.com experts for details on where and how to buy ALGO.

    What is Algorand (ALGO)?

    How to buy Algorand ALGO
    Algorand website homepage

    The Algorand blockchain supports smart contracts, creating of decentralized applications and digital assets issuance, and is used in the development of NFT, DeFi and Web3 services. Blockchain allows to make cheap and fast transactions, thanks to the use of its own PoS algorythm extension – Pure Proof-of-Stake (PPoS).

    ALGO is the internal currency of the blockchain. It is used for staking, running nodes, paying for transactions, and as a governance token within the ecosystem.

    Where to Buy Algorand (ALGO)?

    The easiest way to buy Algorand is on centralized cryptocurrency exchanges. ALGO is traded on all top platforms and available for buying in pairs with USDT, BTC, ETH, BUSD and other cryptocurrencies.

    In addition, centralized trading platforms have a number of advantages:

    • Best course;
    • High liquidity level;
    • High security level;
    • Wide range of payment options;
    • Provides the possibility to purchase crypto by fiat currencies (some of them, for example, Binance).

    Algorand Step-By-Step Buying Guide

    To purchase ALGO, you can use the guide below, which consists of five steps: determine the level of risk, select a crypto exchange, create an account on it, make a deposit and buy a coin.

    1. Assess the Personal Level of Risk

    The cryptocurrency market is volatile and difficult to predict. Therefore, it is recommended to invest carefully in any projects related to crypto. To reduce the risk of losses when working with cryptocurrencies, take into account the following rules:

    1. Don’t invest your last money;
    2. Do not invest borrowed money;
    3. Do not invest all the funds allocated for investment in one project;
    4. Don’t invest more than you can afford to lose.

    2. Choose a Crypto Exchange

    TGDRatings.com experts recommend using reliable cryptocurrency exchanges to buy crypto. One of such platforms is Binance. This exchange is the market leader in terms of trading volume. Binance provides a high level of security and has a reputation of a trustworthy platform. You can also choose any other platform that supports buying of ALGO.

    3. Create Your Account

    To buy ALGO on any cryptocurrency exchange, you need to register a user account. For example, let’s create an account on the Binance exchange:

    1. Go to Binance home page and click Register in the top right corner;
      Register button on Binance homepage
      Register button on Binance homepage
    2. Select one of the registration types: by email/phone or through an existing Google or Apple account;
      Available options for registering a personal account on Binance
      Available options for registering a personal account on Binance
    3. To go through registration by email or phone, click the yellow button;
    4. On the next page enter your email address or phone number and create a strong password → confirm terms of use agreement in the checkbox → click Create Personal Account;
      Binance account registration form
      Binance account registration form
    5. The exchange will send a verification code to the specified phone or email → enter one in the next window;
    6. Registration ended.
    Using Binance requires mandatory account verification. When registering by mail or phone, the exchange works only in the familiarization mode. To verify, an account select the Verification option in your account menu and follow the instructions.

    4. Top Up Your Account

    ALGO trades in pairs with several cryptocurrencies on Binance, including the USDT stablecoin. For example, let’s make a deposit in this cryptocurrency. For this:

    1. Click Wallet → Fiat and Spot on the main page of the exchange;
      Deposit button on home page
      Deposit button on the main page
    2. Select USDT from the list of cryptocurrencies and click Deposit button next to the coin icon;
      Deposit
      Selecting USDT from the list
    3. Select a network in the Network field in the next window. The exchange will generate an address for replenishing a deposit in USDT in the Address field → copy the address and paste it into the required field in your crypto wallet (make sure that the name of the network in the wallet and on the exchange matches);
      USDT ERC20 Wallet Replenishment Application
      USDT ERC20 wallet top up request
    4. Confirm the transfer of funds to the exchange in your wallet.

    5. Buy Algorand (ALGO)

    To buy ALGO, you need to use the trading terminal of the Binance exchange. We will buy a coin by USDT (cause we replenished the account in USDT before). For this:

    1. Click Trade → Spot on the main page of the exchange;
      Trade Menu
      Trade menu
    2. Enter ALGO in the search box in the right part of the trading terminal and select trading pair ALGO/USDT;
      Binance Trading Terminal
      Binance trading terminal
    3. Switch to the Market order creation mode at the bottom of the terminal (to buy Algo at the current market price);
    4. Enter the amount of USDT to spend on buying ALGO in the Total field → Buy ALGO;
    5. Coins purchased.

    How to Sell Algorand?

    To sell ALGO, you will need to repeat the same steps as when buying coins, but fill up in the fields above the red Sell ALGO button (while in the Total you should indicates the amount of ALGO to be sold).

    Sell order fields
    Fields for placing a sell order

    How to Store Algorand (ALGO)?

    Due to security reasons, it is not recommended to store purchased coins in the exchange wallet. A smarter solution would be to use external software or hardware wallets that support ALGO.

    Hardware wallets are convenient because they provide quick access to cryptocurrency. They are installed as an application on a PC or smartphone or as a browser extension. Reliable software wallets for storing ALGO include:

    As for hardware wallets, you can consider purchasing Ledger or Trezor devices. They are used for long-term cryptocurrencies storage.

    Read also: Best crypto wallets.

    How to Withdraw Algorand to My Wallet?

    For example, let’s transfer ALGO coins from the Binance exchange wallet to Trust Wallet. For this:

    1. Click on Wallet → Fiat and Spot on the exchange website;
      Fiat and Spot menu location
      Location of the Fiat and Spot menu
    2. Select ALGO from the list of cryptocurrencies → click Withdraw next to the coin;
      Withdraw Button
      Withdraw button
    3. In the Address field in the next window, enter the address from the Trust Wallet. To get one go to Trust Wallet app;
    4. Click on Receive in the wallet app and select the ALGO coin from the list;
      Trust Wallet Receive Button
      Trust Wallet receive button
    5. Copy the address and paste it into the Address field in the exchange window;
      Address for ALGO in Trust Wallet
      ALGO address in Trust Wallet
    6. Fill in the application field Amount → Withdraw;
    7. Wait until the coins are in the wallet.

    FAQ

    What is Algorand (ALGO)?
    ALGO is the internal currency of the Algorand blockchain. Within the blockchain, it is used for supporting nodes work, staking, paying transaction fees, and as a governance coin.
    Where can I buy Algorand crypto?
    The best way you can buy ALGO is on cryptocurrency exchange. Exchanges have some advantages over the other buying options, for example: better market rates, high level of liquidity, a lot of available trading pairs (including fiat ones), purchasing by cards and through the payment systems, etc. The most reliable exchanges are Binance, OKX and Bybit.
    Is it good to buy Algorand now?
    Algorand is a promising blockchain with low fees and high transaction speed. The Algorand ecosystem is actively developing, however, only user himself can decide on buying ALGO. Advice and opinions of market experts, professional traders and investors, as well as studying the current state of the project, can help you make a decision.
    What wallet stores Algorand (ALGO)?
    Tgdraings.com experts recommend using trusted cryptocurrency wallets, e.g. Trust Wallet and Exodus for storing ALGO.
    Was this article helpful?
    Thanks for your opinion!
    Your opinion is important for us
    Voted: 117
    96% Yes
    No 4%
    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
    Read more
    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
    Read more

    Comments (0)

    Add a comment to the article

    Other users will see your name. Your email won’t be shown.
    Clicking the button “Leave a comment” I give my consent to the processing of personal data and agreed with privacy policy.
    Your comment sent successfully!
    Now it’s on moderation and will be published after checking by our specialists.