A Step-by-Step-Guide on how to buy Algorand (ALGO)
Step 1 – Join Coinbase and recieve 10$ for free You will first need to purchase one of the bigger currencies. Exchanges usually accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click the button below to register and to get your welcome 10$.
Step 2 – Transmit Your Funds to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Algorand (ALGO) is available on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Follow this how-to) Make sure you have chosen 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 are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our guide).
Step 3 – Find (ALGO) Algorand As soon as your deposit has been approved, you will instantly have access to your assets and you can start invest and trading. To invest in (ALGO) Algorand on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”. To find (ALGO) Algorand, you will need to put the cointype (ALGO) into the search-box, which is highlighted in the picture. Make sure you have choosen the correct pairing, we've highlighted this also. Click on “ALGO/BTC” to go ahead.
Step 4 – Buy (ALGO) Algorand After you've spotted (ALGO) Algorand, you'll be given a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). Next we're making our Limit Order. The ”Price” field will be filled with the most recent valuation (ALGO) Algorand was sold for. You can change this to your desired price. The ”Amount” field is the amount of ALGO you like to buy. The ”Total” field is the whole price in Bitcoin that you will settle for the whole amount of ALGO. If you are satisfied, click on “Buy ALGO”. Your order will be filled when a Seller sells their ALGO for the price you introduced.
Step 5 – Withdraw Algorand (ALGO) Unless you're trading, you should never keepyour coins on an Crypto Trader for an extensive time period. To withdraw your Algorand (ALGO), go to the tab called “Funds” and mouse click on “Withdraw”. Algorand (ALGO) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Algorand (ALGO) by using the given drop-down box. Drop in the volumen of Algorand (ALGO) you would like to withdraw. Take into account the displayed fees/minimums. Also make sure you have entered your right withdraw address. When you're satisfied, click “Submit”. You could be asked for verfication via phone/email ahead of a withdrawal.