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.
Table of Contents
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.
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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.
- Go to pionex or download the app if you are using it on your mobile phone.
- To start trading go to TRADE and it will default at BOT. You have to choose MANUAL.
- After selecting manual, go to the drop down menu and select ALGO/USDT under the USDT section.
- Now, you will land on the order book, on the buy section you’ll find an option to input your desired amount.
- Choose limit order in the order type.
- Finally click on buy to proceed your transaction.
Also, read: Best Paid And FREE Crypto Trading Bots
How to buy ALGO on 1INCH network?
- It would help if you had a wallet like metamask, coinbase, and trust wallet to keep your coins.
- Head over to a 1-inch website or the app if you are using your mobile.
- In the trade section, you will find two modes: simple and classic. Choose one of those.
- Click on the connect wallet button on top right and choose your wallet.
- Select a token from the drop down menu. Put your input coin in you pay section and select ALGO in the you receive section.
- Give permission to swap and then click on swap token.
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.
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.
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 Rewards | 2500 M |
| Early Backers Relay Nodes | 2500 M |
| Contingent Incentives | 1200 M |
| Total | 6200 M |
| Ecosystem Support | Supply |
|---|---|
| Innovation Fund | 400 M |
| Protocol R&D and Capital Markets Innovation | 400 M |
| Foundation Algo Grant Program (with community voting) | 250 M |
| Research and Social Good Program | 200 M |
| Total | 1250 M |
| From Initial Allocation | Supply |
|---|---|
| Algorand Inc | 2000 M |
| Algorand Foundation | 500 M |
| Already Injected for operations and ecosystem | 50 M |
| Total | 2550 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?
How is the ALGO coin secured?
What is the price of an ALGO coin?
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