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Algorand (ALGO) Current Price, Market Cap, How And Where To Buy Algo.

Byadmin

Jan 29, 2024
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Algorand (ALGO) Current Price, Market Cap, How And Where To Buy Algo: With surge in the Crypto market in the past few years, A lot of developers has come up with their crypto projects and more is still coming as far as the market continue to boom. Without wasting much of your time, we will go directly to the reason you land on our page, which is to know much about “Algorand” and How And Where To Buy Algorand.

Algorand has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Major Crypto Currency like Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade Algorand coin.

What Is Algorand (ALGO)?

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.

The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.

ALGO Current Market Cap.

The current CoinMarketCap ranking is #20, with a live market cap of $12,598,137,037 USD. It has a circulating supply of 6,242,922,970 ALGO coins and a max. supply of 10,000,000,000 ALGO coins.

Where Can I Get Algorand & Current Market Cap.

If you would like to know where to buy Algorand, the top exchanges for trading in Algorand are currently Binance, Mandala Exchange, OKEx, FTX, and Huobi Global. The current CoinMarketCap ranking is #20, with a live market cap of $12,598,137,037 USD as of this writing. It has a circulating supply of 6,242,922,970 ALGO coins and a max. supply of 10,000,000,000 ALGO coins.

Who Are the Founders of Algorand?

Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world.

What Makes Algorand Unique?

Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is designed so that there are lower transaction fees, as well as no mining (like Bitcoin’s energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol.

How And Where To Buy Algorand ALGO.

With the recent hike in the price of ALGO, there has been a demand from potential investors on getting Algorand, A lot of crypto investors are online trying to get the right information on how to how & where to get their Algorand asset as well as storing them in a secured wallet. According to data gathered from CoinMarketCap and many other crypto websites, It’s clear that Algorand is not available on many on many Crypto-Exchanges but as of the time of this writing Algorand is available on Binance, Mandala Exchange, OKEx, FTX, and Huobi Global.

NOTE THAT: Algorand cannot be directly purchased with fiats currency. However, You can still easily buy this coin by first buying USDT or any major Crypto Currencies like BITCOIN from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy Algorand.

Quick Steps

Register on Fiat_to_Crypto Exchange

Since you can’t buy Algorand directly with Fiat Currency, You will have to first buy one of the major cryptocurrencies (BTC, USDT, ETH). But in this case let’s consider USDT (USDT). You can perform this transaction on fiat-to-crypto exchanges, Uphold.com and Coinbase.com you can decide to use any of them as they are widely adopted in the crypto world, They are rated among the largest crypto exchanges that accept fiat deposits in the world.

All you need to do, create account with them ( ensure you keep your password safely) after creating an account then move to the next step which is to buy USDT.

Buy USDT with fiat Currency

Once you finished with account creating and verification process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer.

NOTE: You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer attract lower charges but slower purchases, Though it sometimes depends on the country of your residence, some countries will offer instant cash deposit with low fees.

Transfer USDT to an Altcoin Exchange

After buying your USDT, it’s worthy of note that since Algorand is an altcoin that can’t be traded in all Crypto exchange, we need to transfer our USDT to an exchange that Algorand can be traded. Many exchanges has their own policies and some has restrictions to some certain countries, for example Binance does not allow investors from USA as customers. So you have to choose an exchange that suit your location and create an account with them before proceeding to the next steps.

PLEASE NOTE: It will always be advised to set up 2FA authentication as it adds extra security to your account.

Deposit USDT to Your Preferred exchange

Depends on the policies of the exchange you might be required to go through another verification process, this usually takes minimum 0f 30 minutes and a maximum of a day, After the whole verification process you are now good to go.

Since we are now transferring our previously bought USDT on Coinbase to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard. Now head back to Coinbase, go to Portfolio page and click on the USDT on your asset list, then click on ‘Send’ on the right.

Under the Recipient field, paste the wallet address from your clipboard, for security and accuracy reason, you should always check if both addresses are matching and Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to your prefered exchange.

Now go to your exchange to confirm your USDT arrival, don’t worry if you haven’t seen your deposit almost immediately, It might be undergoing some network verification in the blockchain network and this should take a few minutes for your coins to arrive. Depending on the network traffic condition of the USDT network, during busy times it may take even longer.

You should receive a confirmation notification from your exchange once your USDT has arrived. guess what? You are now finally ready to purchase your Algorand.

 Trade Algorand (ALGO)

At this stage which is the final of your purchase, held to your exchanging platform where ALGO can be traded for USDT, then go to ‘Exchange’. make sure “USDT” is selected to be able to trade USDT to altcoin pair of your choice, in this case Algorand. You should see Algo/USDT, select that pair and you should see a price chart of ALGO/USDT in the middle of the page. All you need to do is to execute your order and you are done getting your Algorand asset.

Some Top Exchanges You Might Love Base On Your Location Or Base On Their Services.

BitMart
Bitmart

BitMart – Is one of the most trusted cryptocurrency trading platform which provides real-time trading services including Bitcoin (BTC), Ethereum (ETH) and other Altcoins. It accept American customers unlike BINANCE that doesn’t  support American customers.

Binance
binance-landing

 

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.

Gate.io
gateio-landing

Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here.

The Last Part And Conclusion.

After Purchasing your Algorand, and your plan is to hold it for long. You will have to open a secure wallet online or you make use of appropriate “Cold Wallet” as there had been too many hacking incidents associated with online and funds had lost severally.

Thank you for your time, note that this page is open for update and corrections. Please Note That, buying of crypto currencies is at your own risk, all our post is for education purpose and it’s advisable that you buy according to the dollars you can afford to lose.

 

By admin