Where and How to buy ALGO (Algorand)?

In this article, we will be covering yet another token that is currently in high demand. ALGO is the native currency of the Algorand mainnet. In this article, we will guide you through the steps on how to buy Algorand coins. We will also talk about the price predictions and some stats you need to know before investing. 

Summary

  • ALGO is the native coin of the Algorand mainnet.
  • Algorand is a blockchain protocol that can help other exchanges and platforms run on top of it.
  • It is secured by proof of stake blockchain. 
  • You can buy ALGO on Pionex, 1inch, Binance, etc.

What is Algorand? 

Algorand is a self-sustained, blockchain-based network. It is decentralized and supports a wide range of applications. Algorand is pursuing a project for a better future and greener future. The Algorand mainnet became life in June of 2019. At that time, it was able to handle one million transactions a day.

Algorand
Algorand

Also, read: Hi Dollar Review: Is it just another Scam?

What is an Algorand coin?

ALGO or Algorand coin is the native coin of Algorand mainnet. It is based on the greenest blockchain, which is also carbon negative. It is growing very fast, and you should keep your eye on it for the best outcome. 

Where to buy ALGO?

Algo is a top-rated coin, and it is available at many exchanges:

How to buy ALGO on Pionex?

  Before you start buying ALGO on Pionex, make sure that your wallet has sufficient USDT to buy ALGO coins. 

  1. Go to pionex or download the app if you are using it on your mobile phone. 
  2. To start trading go to TRADE and it will default at BOT. You have to choose MANUAL.
Start Trading
Start trading
  1. After selecting manual, go to the drop down menu and select ALGO/USDT under the USDT section.
Select Algo/Usdt
Select ALGO/USDT
  1. Now, you will land on the order book, on the buy section you’ll find an option to input your desired amount. 
Choose The Buy Option
Choose the Buy option
  1. Choose limit order in the order type.
Order Type
Order type
  1. Finally click on buy to proceed your transaction. 

Also, read: Best Paid And FREE Crypto Trading Bots

How to buy ALGO on 1INCH network?

  1. It would help if you had a wallet like metamask, coinbase, and trust wallet to keep your coins.
  2. Head over to a 1-inch website or the app if you are using your mobile. 
Buy Algorand On 1Inch Network
Buy ALGO on 1INCH network
  1. In the trade section, you will find two modes: simple and classic. Choose one of those.
Choose The Mode
Choose the mode
  1. Click on the connect wallet button on top right and choose your wallet.
Connect To A Wallet
Connect to a wallet
  1. Select a token from the drop down menu. Put your input coin in you pay section and select ALGO in the you receive section. 
Select A Token
Select a Token
  1. Give permission to swap and then click on swap token. 
Permission To Swap
Permission to Swap

ALGO Price

Just like any other cryptocurrency, the price of ALGO fluctuates from time to time. You can have a better idea if you check out here.

Algo Price
ALGO Price

What makes Algorand unique?

Algorand is trading very highly, and there are specific reasons why it is trading so high. Some of them are given below.

  • Algorand is designed in such a way that the transaction fees are lower.
  •  There are no miners on the network as a permissionless proof of stake blockchain protocol.
  • It is said to be the world’s first proof of stake protocol. 
  • The blockchain is the greenest blockchain, which means it has a very low environmental impact. 
  • The systems working under the blockchain are secured, scalable, and efficient.

ALGO Price prediction

According to our research, ALGO is trading around 2 dollars, and it has a strong demand zone. It has a high chance to retrace its highs and then go back to its normal range.  So when BTC crosses 100k dollars, you can expect it to go to new highs. For the in-depth market analysis, you can follow here.

Algo Market Analysis
ALGO Market Analysis

Algorand Tokenomics

At first, Algorand stated that ten billion ALGO had been minted. The ten billion supply was supposed to end in the year 2030. The long-term ALGO allocations are given below.


Community Incentives

Supply
Participation Rewards2500 M
Early Backers Relay Nodes2500 M
Contingent Incentives1200 M
Total6200 M
Ecosystem SupportSupply
Innovation Fund400 M
Protocol R&D and Capital Markets Innovation400 M
Foundation Algo Grant Program (with community voting)250 M
Research and Social Good Program200 M
Total1250 M
From Initial AllocationSupply
Algorand Inc2000 M
Algorand Foundation500 M
Already Injected for operations and ecosystem50 M
Total2550 M

For more info regarding the supply and allocations click here.

How secure is ALGO?

Algorand is based on pure permission, less proof of stake blockchain. In the case of proof of work blockchain, the root block needs to be validated by the selected validators who are randomly selected. In the case of proof of stake blockchain, the validators are connected and known to each other, and to proceed to the next block order, and they need to agree. In short, ALGO is very secure. 

Is ALGO a good investment?

Algo is the only coin based on a carbon-negative blockchain, so it indeed is one of the unique investments you can make. Moreover, it has low transaction rates and a good gain, too, so you cannot go wrong if you buy ALGO coins. 

Conclusion

Algo is undoubtedly for the people who do care for Earth. It has excellent gains, and it is also available in various exchanges. It can be one of the best purchases you make, but we suggest you do your research before investing. 

Frequently Asked Questions

How many ALGO coins are there in circulation?

  • There are ten billion coins in circulation.
  • How is the ALGO coin secured?

  • Algo is secured by proof of stake blockchain.
  • What is the price of an ALGO coin?

  • Check out this link to get a better idea about pricing
  • Also read,

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    Shubhayan Gupta

    I'm Shubhayan Gupta a 20 years old art and culture enthusiast and an aspiring filmmaker. I believe in Liberty and Freedom and I try to find that through my writings.