A Step-by-Step-Guide on how to buy Algorand (ALGO)
Step 1 – Signup to CEX.io You will first need to buy units of the bigger coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Follow the Link below to register and getting Ethereum or Bitcoin.
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Algorand (ALGO) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this how-to) Make sure you've selected the correct coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so on. If you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our how-to).
Step 3 – Find Algorand (ALGO) Once your deposit has been approved, you will now have access to your assets and you can begin invest and trading. To invest in Algorand (ALGO) on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. In order to locate Algorand (ALGO), you will need to put the cointype (ALGO) into the search-box, which is marked in the graphic. Be certain of having choosen the right grouping, we have marked this also. Click on “ALGO/BTC” to continue.
Step 4 – Purchase (ALGO) Algorand Once you have located (ALGO) Algorand, you'll be given a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). Next we're going to create our own Limit Order. The field with the “Price” tag will be filled automatically with the recent valuation (ALGO) Algorand was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the amount of ALGO you want to purchase. The field with the “Total” tag is the total price in BTC that you will settle for the whole amount of ALGO. If you are glad, click on “Buy ALGO”. Your plan will be filled as soon as a Seller trades their ALGO for the price you introduced.
Step 5 – Withdraw (ALGO) Algorand Unless you are regularly trading, best advise is not to keep your crypto coins on an Cryptocurrency Exchange for an extended period of time. To withdraw your (ALGO) Algorand, hover over the tab called “Funds” and mouse click on “Withdraw”. (ALGO) Algorand can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find (ALGO) Algorand by using the given drop-down box. Enter the quantity of (ALGO) Algorand you would wish to withdraw. Don't forget the displayed fees/minimums. Also make sure you have filled your right withdraw address. When you are happy, click on “Submit”. You could be asked for phone/email verification ahead of a take off.