How To Buy Algorand (ALGO)
A Step-by-Step Guide
Step 1 -
Login/Register to Coinbase
You’ll first need to purchase one of the major currencies. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click the button below to register and receive your first $10.
Step 2 -
Send Your Funds To An Exchange
You’ll now need to send your Bitcoin (BTC) or Ethereum (ETH) over to an exchange. All exchanges have a similar deposit method. Algorand (ALGO) is available on Binance, so we’ll use that as an example. Unsure about how to send funds from Coinbase? (Follow this guide)
Make sure you’ve selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, etc. If you are dealing with a Decentralized Exchange such as IDEX, these steps may be different (Follow Our Guide)
Step 2 -
Send Your Funds To An Exchange
You’ll now need to send your Bitcoin (BTC) or Ethereum (ETH) over to an exchange. All exchanges have a similar deposit method. Algorand (ALGO) is available on Binance, so we’ll use that as an example. Unsure about how to send funds from Coinbase? (Follow this guide)
Make sure you’ve selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, etc. If you are dealing with a Decentralized Exchange such as IDEX, these steps may be different (Follow Our Guide)
Step 3 -
Locate Algorand (ALGO)
Once your deposit has confirmed, you’ll now have access to your funds and you can begin purchasing/trading. To purchase Algorand (ALGO) on Binance, you’ll want to hover over the “Exchange” tab and click on “Basic”.
To locate Algorand (ALGO), you’ll need to type the coins “ticker” (ALGO) into the search box highlighted in the picture we have provided. Make sure you have selected the correct pairing, we’ve highlighted this too. Click on “ALGO/BTC” to proceed.
Step 4 -
Purchase Algorand (ALGO)
Once you’ve located Algorand (ALGO), you’ll be presented with a Price Chart (Center) and some Order Books (Left). For now, we’re going to create our own Limit Order.
The “Price” field will be automatically filled with the most recent price Algorand (ALGO) was sold for although this can be changed to your desired price. The “Amount” field is the amount of ALGO you wish to purchase. The “Total” field is the total price in BTC that you will pay for the whole amount.
When you’re happy, click “Buy ALGO”. Your order will be filled when a Seller sells their ALGO for the price you submitted.
Step 4 -
Purchase Algorand (ALGO)
Once you’ve located Algorand (ALGO), you’ll be presented with a Price Chart (Center) and some Order Books (Left). For now, we’re going to create our own Limit Order.
The “Price” field will be automatically filled with the most recent price Algorand (ALGO) was sold for although this can be changed to your desired price. The “Amount” field is the amount of ALGO you wish to purchase. The “Total” field is the total price in BTC that you will pay for the whole amount.
When you’re happy, click “Buy ALGO”. Your order will be filled when a Seller sells their ALGO for the price you submitted.
Step 5 -
Withdraw Algorand (ALGO)
Unless you’re trading, never keep your coins on an exchange for an extended period of time. To withdraw your Algorand (ALGO), hover over the “Funds” tab and click on “Withdrawals”. Algorand (ALGO) can be safely stored on any ALGO compatible wallet. Visit Algorand for more details
Locate Algorand (ALGO) by using the drop-down box provided. Enter the amount of ALGO you’d like to withdraw taking into account the fees/minimums shown and make sure the withdraw address you have entered is yours and is correct.
When you’re happy, click “Submit”. You may be asked for phone/email verification before a withdrawal can be processed.
Congratulations!
You've Successfully Purchased & Stored Algorand (ALGO)
That’s it!
Withdrawals from Exchanges can take anywhere from 1-30 minutes depending on network usage. Once you’ve confirmed your withdrawal using a Algorand compatible exporer and the ALGO is safe inside your wallet, you’re all done.
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