What is ALGO?
Algorand is a blockchain-based platform that solves problems with scalability, privacy, and security.
Algorand is the next generation cryptocurrency. The goal of this project is to produce a scalable and sustainable digital economy in which goods and services can be exchanged in a trustless manner.
Algorand has great cybersecurity features, can be scaled with ease and is highly efficient when it comes to computation. Additionally, when the blockchain comes into play, trust will finally become a thing of the past when it comes to commerce online.
Algorand’s mainnet went live in June 2019 and can now manage up to 1 million transactions per day as of December 2020. Some metrics for Algorand transactions can be seen here. Algorand, an interesting blockchain project, held their ICO in June 2019.
You can get hold of ALGO in a few easy steps
- Sign up to an exchange which trades ALGO
- Fund it with cryptocurrency
- Trade your crypto for ALGO
Where and How To Buy Algorand (ALGO) In The UK
We recommend Binance? This for a number of reasons, because
Binance is an exchange platform that boasts low fees, fast trading, and a huge selection of coins to choose from. The exchange offers 1-click trading for experienced traders and beginners alike.
Binance is the fastest, most user-friendly, and most secure cryptocurrency exchange. They offer a wide range of cryptocurrencies to choose from, including Bitcoin, Ethereum, Litecoin, and more.
Binance is one of the best cryptocurrency exchanges that can help you buy, sell, and trade all types of cryptocurrencies. With the growing number of new coins and tokens being released each day, it pays to be able to find the best prices on the fly. Binance is currently available in over 190 countries and supports dozens of different cryptocurrency trading pairs.
Fund your Binance account
Now you need to transfer BTC in order to trade ALGO with it.
It’s really easy to buy BTC with your debit card on binance.
You can transfer your funds from your bank account or use our other options to make the process easier for you.
You can also setup recurring orders! which is another great option for Binance which other platforms don’t offer. In order to make it easier for customers to set up recurring orders on Binance, the company released an official guideline which makes it clear.
Trade your BTC for ALGO
We now need to get into our trading section of the guide.
To do this follow the above picture and click on Classic!
Now we have to find the correct pair BTC/ ALGO
Now type ALGO in the top corner like i did.
If you are new to the market, the stock market can be a confusing place. Let’s break down some of the most basic terms you need to know in order to get started.
– Market order: this order type is executed immediately. This means that your trade will execute as soon as possible and the price of the trade will not change.
– Limit order: this order type is put in place so that your trade executes for a specific price and does not execute until it reaches that specified price.
Is ALGO a good investment?
Yes we predict ALGO to have a huge potential in the upcoming bull market.
Algorand was invented to even the playing field in transactions and speed up efficiency. It is faster than Bitcoin or other blockchain because it works differently.
Algorand’s platform is not as energy-intensive as Bitcoin’s. The fees are a lot lower and there is no mining process like Bitcoin’s, but instead a permissionless pure proof-of-stake (PoS) blockchain protocol.