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- 1. How & where to buy Algorand (ALGO) online
- 2. How to buy Algorand instantly in 3 simple steps
- 3. Where to buy ALGO easily
- 4. Best exchanges to buy Algorand (ALGO), reviewed
- 5. How to trade ALGO
- 6. What is the best way to pay for Algorand (ALGO)?
- 7. How do I store Algorand (ALGO)?
- 8. Is Algorand (ALGO) a good investment?
- 9. Is now a good time to buy Algorand?
- 10. FAQs
How & where to buy Algorand (ALGO) online
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Trade your favourite markets with our top-rated broker, .
10/1077% of retail CFD accounts lose money.
Algorand tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Algorand this way. Follow our quick step guide below.
How to buy Algorand instantly in 3 simple steps
Copy link to sectionTo buy Algorand you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.
Step 1. Sign up to eToro
Copy link to sectioneToro is the simplest crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification.
77% of retail CFD accounts lose money.
Step 2. Make a deposit
Copy link to sectionAdd funds via a card payment, bank transfer or an alternative payment method. You can start with as little as $10.
Step 3. Buy Algorand token
Copy link to sectionType ALGO into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.
Now you own Algorand tokens! It’s as simple as that.
Where to buy ALGO easily
Copy link to sectionThe overall best exchange to buy Algorand token for beginners is eToro .
Here are the top three places to buy Algorand, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
77% of retail CFD accounts lose money.
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
Read more about how we rate, rank and review platforms.
Best exchanges to buy Algorand (ALGO), reviewed
Copy link to section1. eToro. Best for beginners, copy-trading & demo-account
1500
No. assets
$10
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. Public. Best for sharing beginner trading ideas
...
No. assets
...
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Uphold. Best for building long term wealth
...
No. assets
$1
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD.
Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.
The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
4. Coinbase. Best secure trading platform for all types of trader
4
No. assets
$1
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.
A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.
The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.
5. KuCoin. Best social trading altcoin exchange
1
No. assets
...
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.
KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
How to trade ALGO
Copy link to sectionYou can trade Algorand on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how ALGO crypto trading works:
- Monitor the price: Let’s say the price of ALGO/USDT is $1. You read the price charts and decide that now is a good time to start purchasing ALGO.
- Open a trade: You trade one USDT for one ALGO ($1 for 1 ALGO).
- Continue to monitor the price: The next day, one ALGO token is now worth $2, a 100% increase.
- Close your trade: You trade your ALGO token back to USDT for $2.
In this example, you buy and sell Algorand, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.
77% of retail CFD accounts lose money.
What is the best way to pay for Algorand (ALGO)?
Copy link to sectionThe simplest way to buy Algorand cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for ALGO.
- Buy Algorand with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
- Buy Algorand with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
- Buy Algorand with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
- Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.
How do I store Algorand (ALGO)?
Copy link to sectionMost people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Algorand then you should move it to a crypto wallet.
A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Algorand wallets to use are MetaMask and the Ledger Nano S.
Is Algorand (ALGO) a good investment?
Copy link to sectionWhether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Algorand and its token to help you decide whether to invest in ALGO.
- Algorand can process transactions at a fast rate. It can process transactions faster than its leading competitor, Ethereum, and has many more possible uses than pure cryptocurrencies like Bitcoin.
- Many other crypto projects are trying to solve the same problems. Its long-term investment prospects are complicated by the number of competitors trying to do a similar thing. There has been an explosion of new cryptocurrencies in recent years, and the likes of Polkadot are trying to solve the same problems in a similar way.
- You can earn interest by simply holding ALGO in a wallet. Algorand pays rewards through interest payments to anyone who holds it in a wallet. These rewards are paid when a new block is added to the blockchain.
- It’s one of the largest cryptocurrencies. Algorand is approximately the 30th large crypto by market capitalisation. This means it has a lot of volume and confidence from the wider crypto community.
- The more ALGO you own, the higher your chance of being selected as a validator. Algorand uses a proof-of-stake consensus algorithm. This means that other users on the network validate all transactions. If you own a large number of ALGO tokens, there’s a higher chance that you’ll be selected to validate transactions and receive a reward for doing so.
Use this quick summary of pros and cons to compare Algorand with other, similar projects.
Pros
Copy link to section- Algorand is ideal for beginners as an inexpensive starter coin
- You can earn interest by storing ALGO in a wallet
- It was founded by respected MIT professor Silvio Micali
Cons
Copy link to sectionUltimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.
How has Algorand (ALGO) performed this year?
Copy link to sectionThe current Algorand price today is $0.17, which is 94% below its all time high of $3.27, which it reached on June, 2021. ALGO is down 90% this year, with a 52 week high of $1.83 and a 52 week low of 40.16.
Is now a good time to buy Algorand?
Copy link to sectionThe answer depends on the current price and your own investment goals. Put simply, buying Algorand, selling Algorand, and trading ALGO are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.
- If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Algorand.
- As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of Algorand and its decentralised aggregator platform, then a good time to purchase Algorand is on any major dip.
In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Algorand and selling it the next day probably isn’t why you’re here either.
Regardless, closely following ALGO price news & analysis will help you decide when to pull the trigger:
Algorand (ALGO) displays strength as bulls target a breakout rally
Algorand (ALGO) partners with Clinton Foundation to address climate change
Australian market regulator sues eToro over high-risk investment products
FAQs
Copy link to sectionMore altcoins to buy
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >