A Step-by-Step-Guide on how to buy Algorand (ALGO)
Step 1 – Signup to Coinbase and recieve 10$ for free You'll first need to buy one of the bigger currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for Altcoins. Click the button below to register and receive your welcome $10.
Step 2 – Transfer Your BTC (Bitcoin) or ETH (Ethereum) to an Crypto Trader Your Ethereum or Bitcoin has to be sent over to an Exchange now. All exchanges have a deposit form that is similar. Algorand (ALGO) is accessible on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this how-to) Make sure you've chosen the precise coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).
Step 3 – Find (ALGO) Algorand Once your deposit has been affirmed, you will now have access to your finances and you can launch purchasing and trading. To purchase (ALGO) Algorand on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. In order to spot (ALGO) Algorand, you'll need to insert the cointype (ALGO) into the search-box, which is marked in the graphic. Make sure you have selected the right grouping, we have highlighted this too. Click on “ALGO/BTC” to go on.
Step 4 – Purchasing (ALGO) Algorand As soon as you have discovered (ALGO) Algorand, you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). And now we are going to make our own Limit Order. The field with the “Price” tag will be automatically filled with the most recent valuation (ALGO) Algorand was traded for. This can be changed to your desired price. The “Amount” field is the quantity of ALGO you like to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will settle for the whole quantity of ALGO. When you are satisfied, make a mouse click on “Buy ALGO”. Your plan will be filled as soon as a Vendor trades their ALGO for the price you introduced.
Step 5 – Withdraw Algorand (ALGO) Unless you're frequently trading, never keep your crypto on an Cryptocurrency Exchange for an longer time frame. In order to take off your (ALGO) Algorand, hover over the “Funds” tab and click on “Withdraw”. Algorand (ALGO) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find (ALGO) Algorand by using the given drop-down box. Drop in the amount of Algorand (ALGO) you would wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have filled your right withdraw address. When you're happy, make a mouse click on “Submit”. You may be asked for verfication via email/phone ahead of a withdrawal.