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 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader

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

Make sure you've selected the right coin you want to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our how-to).

Step 3 – Find Algorand (ALGO)

Once your deposit has been confirmed, you will directly have access to your funds and you can launch buying and trading. To buy Algorand (ALGO) on Binance, you will want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”.

In order to find Algorand (ALGO), you will need to insert the short name of the asset (ALGO) into the search-box, which is highlighted in the picture. Make sure you have choosen the proper pairing, we have highlighted this too. Click on “ALGO/BTC” to continue.

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

Once you've discovered Algorand (ALGO), you'll be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). And now we are making our own Limit Order.

The field with the “Price” tag will be filled with the most recent tariff Algorand (ALGO) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the quantity of ALGO you wish to purchase. The field with the “Total” tag is the whole price in BTC that you will settle for the complete amount of ALGO.

If you are glad, make a mouse click on “Buy ALGO”. Your order will be filled as soon as a Vender trades their ALGO for the price you submitted.

Step 5 – Withdraw Algorand (ALGO)

Unless you are frequently trading, you should never keepyour crypto on an Cryptocurrency Exchange for an longer time frame. In order to withdraw your Algorand (ALGO), go to the tab called “Funds” and click on “Withdraw”. Algorand (ALGO) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Algorand (ALGO) by using the provided drop-down box. Drop in the volumen of Algorand (ALGO) you would like to withdraw. Don't forget the presented fees/minimums. Also make sure you have filled your correct withdraw address.

When you are glad, make a mouse click on “Submit”. You could be requested for verfication via phone/email before a take off.

Binance Withdraw

Congrats! You have successfully purchased and stored Algorand (ALGO).

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (rely on network usage). Once you've proved your withdrawal with Ethplorer.io or Etherscan.io and the (ALGO) Algorand is safe in your wallet, you are done.

Some other Guides on How to buy Coins

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