How to Buy Algorand (ALGO)

A Step-by-Step-Guide on how to buy Algorand (ALGO)

Step 1 – Signup to Kraken

You will first need to purchase one of the bigger currencies. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below to register and to get Bitcoin (BTC) or Ethereum (ETH).

Binance Signup
Step 2 – Transfer Your Funds to an Crypto Trader

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Algorand (ALGO) is accessible on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow this manual)

Make sure you have chosen the correct coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our how-to).

Step 3 – Locate Algorand (ALGO)

Once your deposit has been verified, you'll directly have access to your assets and you can launch purchasing and trading. To invest in Algorand (ALGO) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”.

To locate Algorand (ALGO), you will need to put the shortname of the coin (ALGO) into the search-box, which is marked in the picture. Be certain of having selected the right grouping, we have highlighted this too. Click on “ALGO/BTC” to advance.

Binance Hot To Buy Algorand (ALGO)
Binance How to Buy (ALGO) Algorand
Step 4 – Purchase Algorand (ALGO)

As soon as you've spotted Algorand (ALGO), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). And now we are creating our own Limit Order.

The field with the “Price” tag will be filled with the most latest price Algorand (ALGO) was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of ALGO you like to purchase. The field with the “Total” tag is the aggregated price in BTC that you will settle for the whole volumen of ALGO.

When you are happy, make a mouse click on “Buy ALGO”. Your plan will be filled as soon as a Vendor trades their ALGO for the price you offered.

Step 5 – Withdraw Algorand (ALGO)

Unless you're frequently trading, best advise is not to keep crypto on an Crypto Exchange for an extensive time frame. In order to withdraw your Algorand (ALGO), hover over the ”Funds” tab and mouse click on “Withdraw”. Algorand (ALGO) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Algorand (ALGO) by using the provided drop-down box. Put into the amount of Algorand (ALGO) you'd wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your precise withdraw address.

When you're happy, click “Submit”. You may be asked for phone/email verification ahead of a take off.

Binance Withdraw

Kudos! You have successfully bought and safed Algorand (ALGO).

That's it!

Withdrawals from Exchange can take between 1 – 30 minutes (rely on network usage). As soon as you have confirmed your withdrawal with Ethplorer.io or Etherscan.io and the (ALGO) Algorand is safe within your wallet, you are finished.

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