ALGO is the cryptocurrency token of the Algorand blockchain.
Algorand is a public blockchain that also offers a smart contract platform. It was founded in 2017 by Silvio Micali, an MIT professor who won the Turing Award in 2012.
In this guide, we’ll teach you how to buy ALGO cryptocurrency safely and easily.
How to Buy ALGO – Step By Step Guide
ALGO is the native cryptocurrency of the Algorand blockchain. It is used to pay for transactions and running smart contracts on the network. It can also be traded in a number of cryptocurrency exchanges. We’re going to show you in this article how to purchase ALGO cryptocurrency.
Step 1: Open an account with a bitcoin exchange
By registering with a cryptocurrency exchange, you will be able to purchase, sell, and hold cryptocurrency. It is typically recommended that customers utilise an exchange that allows them to withdraw their cryptocurrency to their own personal wallet for safekeeping.
Step 2: Get Your Crypto Wallet Ready
Then you must ensure that you have a safe crypto wallet in which to keep your ALGO. The wallet will also produce your crypto address, which you may share with others in order for them to send you payments.
Step 3: Buy Bitcoin or Ethereum
The most common way to purchase BItcoin is by far the most popular, but if you don’t already have some, you’ll need to purchase some before you can purchase any altcoins. To do so, utilise a real-money exchange such as Coinbase to acquire Bitcoin or Ether (USD or EUR). Then, using your Coinbase wallet, send your newly bought BTC or ETH to an exchange such as Binance or Changelly.
Step 4: Use your Bitcoin to buy ALGO
Transfer your BTC or Ether to your wallet, or purchase ALGO on the same exchange right now. That’s all; you now have ALGO Crypto in your hands.
Step 5: Deposit your ALGO into a hardware wallet (optional)
Finally, to withdraw your ALGO Crypto, navigate to Funds -> Withdrawals and input the quantity of ALGO Coin you want to withdraw, as well as the address of your ALGO Coin wallet or any other hardware wallet for further security.