A Step-by-Step-Guide on how to buy Algorand (ALGO)
Step 1 – Signup to Coinbase – Get Free $10 You will first need to buy units of the bigger currencies. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below for registration and getting your welcome 10 Dollar.
Step 2 – Send Your ETH (Ethereum) or BTC (Bitcoin) to an Exchange Your Ethereum or Bitcoin will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Algorand (ALGO) is available on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Follow this manual) Make sure you have chosen the correct coin you want to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so on. If you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our manual).
Step 3 – Locate (ALGO) Algorand As soon as your deposit has been affirmed, you'll immediately have access to your assets and you can begin buying and trading. To purchase (ALGO) Algorand on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”. To spot (ALGO) Algorand, you'll need to insert the short name of the asset (ALGO) into the search-box, which is marked in the graphic. Make sure you have selected the correct pairing, we've marked this too. Click on “ALGO/BTC” to progress.
Step 4 – Buying Algorand (ALGO) As soon as you have spotted Algorand (ALGO), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). And now we're creating our Limit Order. The ”Price” field will be filled with the most recent price Algorand (ALGO) was sold for. This can be changed to your favoured price. The field with the “Amount” tag is the quantity of ALGO you like to purchase. The ”Total” field is the total price in BTC that you'll settle for the whole quantity 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 gave.
Step 5 – Withdraw Algorand (ALGO) Unless you are regularly trading, best advise is not to keep your crypto coins on an Crypto Exchange for an extensive period of time. To withdraw your Algorand (ALGO), hover over the tab called “Funds” and mouse click on “Withdraw”. Algorand (ALGO) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Algorand (ALGO) by using the given drop-down box. Put into the amount of Algorand (ALGO) you'd like to withdraw. Don't forget the presented fees/minimums. Also make sure you have entered your right withdraw address. When you are satisfied, make a mouse click on “Submit”. You may be requested for email/phone verification ahead of a take off.