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Where & How to Buy Algorand (ALGO) for Beginners in 2025
In this guide
- 1. Where & How to Buy Algorand (ALGO) for Beginners in 2025
- 2. How to buy Algorand quickly in 3 steps
- 3. The easiest way to buy ALGO
- 4. Best exchanges to buy Algorand (ALGO), reviewed
- 5. How to trade ALGO
- 6. What is the best way to invest in Algorand (ALGO)?
- 7. How do I store Algorand (ALGO)?
- 8. Should I buy Algorand now?
- 9. Is Algorand (ALGO) a good investment?
- 10. FAQs
Trade your favourite markets with our top-rated broker, .
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
The safest and easiest way to buy Algorand is through a cryptocurrency exchange, which functions similarly 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 quickly in 3 steps
Copy link to sectionTo get 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 a crypto platform
Copy link to sectionSign up to one of the best crypto platforms to start trading. Alternatively, there are several other options to select from below. Anyway, create an account and supply a copy of your photo ID for verification.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Coinbase
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
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 $100 on most services.
Step 3. Buy Algorand token
Copy link to sectionLocate the search box and type ALGO. Once you locate the coin trading page, enter how much money you want to spend and hit ‘trade now’.
Now you own Algorand tokens! Not a big deal, right?
The easiest way to buy ALGO
Copy link to sectionThe overall best platform to buy Algorand for beginners is eToro .
Here are the top five places to buy Algorand, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
Read more about how we rate, rank and review platforms.
Best exchanges to buy Algorand (ALGO), reviewed
Copy link to sectionWe found 10 crypto platforms for users based in
1. eToro. Best for beginners, copy-trading & demo-account
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Overview
We love eToro because it’s a crypto trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.
The far-reaching catalog of 100 cryptocurrencies includes big names like Bitcoin and Ethereum, as well as smaller crypto tokens with high growth potential. Some supported tokens can be seamlessly transferred to the eToro Money crypto wallet for safekeeping.
One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. eToro crypto’s Smart Portfolios offer a great entry point into digital currencies, an opportunity to learn and potentially benefit from the expertise of more experienced traders.
If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across the 100 crypto tokens available.
Highlights
| No. of tradable assets | 3600+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stock CFDs, ETF CFDs, Forex CFDs, Index CFDs, Commodity CFDs, NFTs, Crypto |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | ASIC, FCA, CySEC, FinCEN |
Fees & Costs
| Trading fees | Yes, on certain assets |
| Inactivity fees | Yes |
| Rollover/overnight fees | Yes, on CFDs |
| Withdrawal fees | Yes |
| Spreads | Yes, on certain assets |
| Conversion fees | Yes, for non-USD currencies |
Pros & Cons
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
2. Coinbase. Best secure trading platform for all types of trader
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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.
Coinbase’s user-friendly platform simplifies the buying, selling, and trading processes, making it one of the top crypto exchanges for all levels of trader. But, Coinbase isn’t just an easy to use platform, it’s one of the safest and most secure.
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. It stores 98% of customer assets offline in cold storage, minimizing the risk of theft. There is also insurance on all cash balances up to $250,000
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.
Highlights
| No. of tradable assets | 150+ |
| Min. Deposit | $10 |
| ID verification required | Yes |
| Free demo account | No |
| Supported assets | Crypto, NFTs |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | FSA, FCA, NFA |
Fees & Costs
| Trading fees | Yes |
| Inactivity fees | No |
| Rollover/overnight fees | No |
| Withdrawal fees | Yes |
| Spreads | Yes |
| Conversion fees | Yes |
Pros & Cons
3. Uphold. Best for building long term wealth
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Overview
We love Uphold because it’s a regulated and transparent digital asset platform. Uphold is an excellent platform for discovering important new tokens early, making it ideal for investors looking to get in on the ground floor of emerging cryptocurrencies.
Uphold offers a broad selection of coins, with over 250 tokens available catering to both seasoned and novice crypto traders. The platform regularly adds new assets allowing users to invest in promising projects before they gain mainstream attention.
Uphold isn’t just a platform for investing early. One of the main advantages of using Uphold is its transparent and competitive fee structure. The platform does not charge for deposits or withdrawals, and trading fees are clearly stated. You can also trade between different asset classes including fiat currencies.
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.
Highlights
| No. of tradable assets | 250+ |
| Min. Deposit | $1 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Crypto, Commodities, |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | FSA, FinCEN |
Fees & Costs
| Trading fees | No | Yes, on certain assets | – |
| Inactivity fees | No | Yes | – |
| Rollover/overnight fees | Yes | Yes, on CFDs | – |
| Withdrawal fees | No | Yes | – |
| Spreads | Yes | Yes, on certain assets | – |
| Conversion fees | Yes | Yes, for non-USD currencies | – |
Pros & Cons
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
4. OKX. Best for futures and margin trading
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Overview
We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.
From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.
The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.
Highlights
| No. of tradable assets | |
| Min. Deposit | |
| ID verification required | No |
| Free demo account | No |
| Supported assets | |
| Mobile trading app | No |
| Web trading platform | No |
| Regulatory bodies |
Pros & Cons
How to trade ALGO
Copy link to sectionYou can trade Algorand on a cryptocurrency exchange using simple steps. Here’s a quick example that clearly lays out how ALGO crypto trading works:
- Monitor the price: For simplicity, 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 USD for 1 ALGO).
- Continue to monitor the price: The following month, 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 countless hours learning to trade, reading charts and technical patterns, and understanding markets and margin trading, which you can do right here on Invezz.com.
What is the best way to invest in 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 a 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 Automated Clearing House (ACH) in the US Faster Payments System (FPS) in the UK, or Single Euro Payments Area (SEPA) in Europe.
- Buy Algorand with PayPal. Some crypto brokers accept deposits via PayPal. Not many exchanges offer this option. However, you can find here the best crypto exchanges that accept PayPal.
- 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 purchase 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.
Should I buy Algorand now?
Copy link to sectionThe answer depends on the current price and your own investment goals. Put simply, purchasing Algorand, selling Algorand, and trading ALGO are all the exact same process in literal terms. It’s just your personal investing intentions that define 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 a coin long-term in the hopes of larger profits. In this sense, any time is a good time to trade 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. Instead, 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 ALGO, then a good time to purchase Algorand is on any significant 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.
How has Algorand (ALGO) performed this year?
Copy link to sectionThe current Algorand price today is $0.18, which is -94.38% versus its all time high of $3.28, which it reached on 21 June 2019. ALGO is +2.86% this year, with a 52-week high of $0.60 and a 52-week low of $0.10.
Regardless, closely following Algorand price news & analysis will help you decide when to pull the trigger.
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.
