A Step-by-Step-Guide on how to buy Algorand (ALGO)
Step 1 – Join CEX.io In the beginning you'll need to buy one of the bigger coins. Exchanges commonly accept either Ethereum or Bitcoin in exchange for alternative Coins. Click the button below for registration and receive your Ethereum or Bitcoin.
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Crypto Trader Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. Algorand (ALGO) is available on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow this how-to) Make sure you've selected the correct coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. If you're working with a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).
Step 3 – Locate Algorand (ALGO) Once your deposit has been confirmed, you'll instantly have access to your assets and you can start purchasing and trading. To invest in Algorand (ALGO) on Binance, you'll want to go to the ”Exchange” tab and mouse click on “Basic”. To spot Algorand (ALGO), you'll need to insert the shortname of the coin (ALGO) into the search-box, which is highlighted in the graphic. Be certain of having selected the right pairing, we have highlighted this also. Click on “ALGO/BTC” to continue.
Step 4 – Purchasing (ALGO) Algorand After you've spotted (ALGO) Algorand, you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). And now we are going to create our own Limit Order. The ”Price” field will be filled with the up-to-date tariff (ALGO) Algorand was sold for. This can be changed to your favoured price. The ”Amount” field is the volumen of ALGO you want to purchase. The field with the “Total” tag is the total price in Bitcoin that you will settle for the whole volumen of ALGO. When you're satisfied, make a mouse click on “Buy ALGO”. Your order will be filled as soon as a Seller sells their ALGO for the price you submitted.
Step 5 – Withdraw (ALGO) Algorand Unless you're trading, never keep your crypto coins on an Crypto Exchange for an extended time frame. To withdraw your (ALGO) Algorand, hover over the ”Funds” tab and mouse click on “Withdraw”. (ALGO) Algorand can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate (ALGO) Algorand by using the given drop-down box. Put into the quantity of (ALGO) Algorand you would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your precise withdraw address. When you're glad, click “Submit”. You may be asked for email/phone verification before a take off.