Last update: Jun 6, 2022

How to Buy Algorand (ALGO)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Algorand. Depending on where you live, you’ll have different crypto trading platforms to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Algorand

How to Buy Algorand – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Algorand of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency exchanges.

4. Buy Algorand

Now that you have what you need to buy Algorand, head over to the market or buy section of the cryptocurrency exchange and buy some ALGO.

If the crypto exchange doesn’t have any Algorand on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Algorand first), and trade your Ethereum for Algorand.

Where to Buy Algorand (ALGO)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Algorand

  1. Sign into the crypto trading platform where you bought Algorand.
  2. Move your Algorand to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Algorand.

 

Crypto trading

How to Buy Algorand (ALGO) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Algorand in Australia, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Algorand if it’s available. If the exchange doesn’t have Algorand. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Algorand), and trade your ETH for Algorand.

Also, check out our comparison of the top crypto exchanges in Australia If you’re looking to learn more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Algorand (ALGO) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Algorand in Canada, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Algorand if it’s available. If the exchange doesn’t have Algorand. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Algorand), and trade your ETH for Algorand.

You can also check out our comparison of the best sites to buy bitcoin in Canada if you’re curious to know more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Algorand (ALGO) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Algorand in the UK, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Algorand if it’s available. If the exchange doesn’t have Algorand. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Algorand), and trade your ETH for Algorand.

You can also take a look at our analysis of the best places to buy bitcoin in the UK If you’re interested in learning more about which ones we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Algorand? ALGO Rundown

Algorand, a decentralized, self-sustaining network that uses blockchain technology, supports a variety of applications. These systems have all the critical properties needed for effective applications in real life. They are secure, scalable, and efficient. Algorand supports computations that need reliable performance guarantees in order to build new forms of trust.

Algorand's mainnet was launched in June 2019 and was capable of handling almost one million transactions per day by December 2020. You can view the Algorand transaction statistics here. Algorand's initial coin offering (ICO), was held June 2019 at a price of $2.4 per token.

Algorand was created to speed up transactions and increase efficiency in response to slow transaction times on Bitcoin and other blockchains. Algorand has lower transaction fees and no mining, unlike Bitcoin's energy-intensive process. It is based upon a permissionless proof-of-stake (PoS), blockchain protocol.

The Algorand Foundation announced a $10M grant for Applied Blockchain to build the London Bridge. This trustless bridge will bring Ethereum compatibility into the Algorand Blockchain. Algorand has had difficulty attracting liquidity to its ecosystem despite promising low costs transactions, low latency, and high scaling. Algorand would be able to connect to Ethereum's DApp ecosystem and draw more liquidity by having a bridge to it. The Algorand Foundation hopes to see verification of other chains performed on Alogrand smart contracts in the long-term. This will be done by incorporating state proofs, such as Compact Certificates, into the Algorand Consensus. The foundation's goal will be to consolidate the DeFi ecosystem on Algorand.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.