How to Buy Algorand (ALGO)

Step 1 – Signup to CEX.io

You'll first need to buy units of the top-tier currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below for registration and to get your BTC (Bitcoin) or ETH (Ethereum).

Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Exchange

Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Algorand (ALGO) is available on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this guide)

Make sure you've selected the correct coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etcetera. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Locate Algorand (ALGO)

Once your deposit has been affirmed, you will immediately have access to your assets and you can commence buying and trading. To buy Algorand (ALGO) on Binance, you will want to hover over the tab which is called “Exchange” and then mouse click on “Basic”.

To spot Algorand (ALGO), you will need to put the shortname of the coin (ALGO) into the search-box, which is marked in the graphic. Make sure you have choosen the right pairing, we have highlighted this also. Click on “ALGO/BTC” to proceed.

Step 4 – Buying Algorand (ALGO)

As soon as you have found Algorand (ALGO), you'll be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). And now we are going to create our own Limit Order.

The ”Price” field will be filled automatically with the most up-to-date tariff Algorand (ALGO) was sold for. You can change this to your favoured rate. The ”Amount” field is the quantity of ALGO you want to purchase. The ”Total” field is the aggregated price in BTC that you'll settle for the complete volumen of ALGO.

If you're satisfied, click on “Buy ALGO”. Your order will be filled as soon as a Vender sells their ALGO for the price you offered.

Step 5 – Withdraw Algorand (ALGO)

Unless you're regularly trading, best advise is not to keep your crypto coins on an Crypto Trader for an extensive time period. To withdraw your Algorand (ALGO), go to the ”Funds” tab and mouse click on “Withdraw”. Algorand (ALGO) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Algorand (ALGO) by using the provided drop-down box. Enter the amount of Algorand (ALGO) you'd like to take off. Don't forget the demonstrated minimus/fees. Also make sure you have filled your correct withdraw address.

If you're happy, click “Submit”. You may be asked for email/phone verification ahead of a take off.