Where to buy algorand

Algorand is considered one of the most scalable blockchain networks on the market.This guide focuses on how and where new investors can buy Algorand, and we also discuss the best wallets to store Algorand cryptocurrency.

How to buy Algorand - a quick guide

Step 1: Open an eToro account

Open an account with eToro - Start by entering some personal information.

👨🏻‍🦰Step 2: Verification

Verification - Have your passport on hand to verify your ID card, as well as documents proving your address.

💳  Step 3: Deposit

eToro supports multiple payment methods, which means you can easily deposit a minimum of 10$.

🔎 Step 4: Search for cryptocurrency

Search Algorand - Search directly by typing "ALGO" in the top toolbar of eToro.

🛒 Step 4: Buy cryptocurrency

You can invest in Algorand from as little as $10.

The following sections of this guide explain the process of buying Algorand in more detail. 

Where to buy Algorand

There are several cryptocurrency platforms that offer Algorand as a viable investment option. However, this guide focuses on the best cryptocurrency platforms for investing in Algorand with respect to fees, assets, diversity and regulation.

What is Algorand?

What is Algorand

Algorand is a pure proof-of-stake (PPoS) blockchain that solves the scalability, speed and security dilemma plaguing blockchains. The Algorand blockchain is distinguished by advanced capabilities that mean it is a carbon-neutral, fast and cost-effective blockchain.

Blockchain can process thousands of transactions in seconds with instant finalization using just a fraction of a penny.

Algorand is one notable infrastructure layer on which other cryptocurrency networks and decentralized applications (DApps) and tokens can be built.

Using the PPoS mechanism, Algorand randomly selects committees from among the holders to validate and approve the next block in the chain. The randomized system stems from a cryptographic tool known as the Verifiable Random Function (VRF). The Algorand tool selects only a few miners to reward its ALGO token after successfully lending its computing power to the network.

Is Algorand a good investment?

Algorand is consistently ranked as one of the best altcoins to buy by traders and analysts - here's why cryptocurrency enthusiasts are asking whether Algorand is a good investment for the future.


The Algorand blockchain is known to work in other blockchains, enabling developers to create digital assets and smart contracts. Algorand's tier one network provides a blockchain-based ecosystem that enables interaction between fungible tokens and Non-fungible tokens (NFT)..

The interoperable nature of the Algorand blockchain allows developers to build a range of applications that can work well in other blockchains. Cryptocurrency investors enthusiastic about connectivity in a decentralized ecosystem may look toward Algorand as a worthwhile option.

Smart contracts

The Algorand network uses two special types of smart contracts to execute transactions without a centralized third party. Algorand uses stateless smart contracts and stateful smart contracts. Stateless smart contracts facilitate various transactions when various conditions are met that are agreed upon. Stateful smart contracts are stored forever and can be used for other purposes.

Impressive growth potential

Algorand has impressive growth potential due to its numerous asset use cases for both developers and users. With the growing adoption of cryptocurrencies, investors looking to build a high-yield portfolio should Consider Algorand as an investment option.


Algorand blockchain can be used in a variety of sectors to improve transaction processes, such as finance, gaming, infrastructure and business. Blockchain provides scalability for processes related to these sectors, making it one of the most diverse networks in the industry.

Storage of values

Unlike most assets, Algorand is a great store of value because it is a decentralized digital currency and does not require an authoritative body to oversee its transactions. Blockchain rewards investors for closing funds by giving them voting rights to voice their opinions in communities and receive a reward after a certain period of time.

1. eToro - The best platform to buy Algorand

eToro is undoubtedly the best Algorand buying platform on the market. Top regulators around the world have granted operating licenses to the platform.

The Australian Securities and Investments Commission (ASIC), the Financial Industry Regulatory Authority (FINRA) in the United States and the Financial Conduct Authority (FCA) in the United Kingdom are among the key regulators that govern its activities.

eToro offers multiple deposit options, while withdrawals are instant. The platform uses a spread model that ranges from 0.75% to 5% depending on the cryptocurrency asset.

Where to buy ALGO

As for the minimum deposit balance, eToro provides a range from $10 to $50. This depends on the location of the investor. However, after that, the minimum deposit is $10. There is a withdrawal fee of $5 for each of the platform's 120 cryptocurrencies.

Because of the CopyTrade technology of the eToro platform, traders can earn a sizable ROI from investing in ALGO.

The CopyTrade feature allows inexperienced traders to make profits by imitating the trades of more experienced traders. Users who want to buy Algorand on eToro, they can do so through a number of payment options. eToro offers payment options such as bank transfer, wire transfer, Skrill, PayPal or credit/debit cards.

Buy Algorand

Crypto.com - The perfect platform for buying Algorand (ALGO)

Crypto.com is a platform that provides consumers with access to a variety of assets at reasonable prices. The cryptocurrency exchange provides consumers with access to at least 250 cryptocurrency assets, including Algorand.

The minimum to trade on crypto.com varies for each cryptocurrency, but the average is $ 1. Users are not charged for trading or simple transactions on the platform. However, if debit/credit cards are used to make payments, a transaction fee of 2.99% is required to complete the transaction.

buy Algo at crypto.com

The Crypto.com platform is ideal for consumers who like to buy assets using traditional currencies, as the site supports a wide range of fiat currencies. The platform offers an easy-to-use interface and is available for iOS and Android phones. Crypto.com offers numerous financing options. This includes such as credit/debit cards, bank transfers, and more.

Buy Algorand

3. Binance - The best place to buy Algorand for a low fee

Binance is the world's largest cryptocurrency exchange in terms of trading volume, showing an abundant supply of liquidity for all investors.

Binance also offers some of the lowest trading fees in the cryptocurrency industry, with fees set at 0.10% flat. For investors who hold the platform's native token, Binance Coin (BNB), the fee is reduced by a quarter. This encourages investors to hold BNB and reduce trading fees from Algorand Investment.

buy algorand on binance

With a minimum deposit of $10, users can trade spots, margins, futures and perpetual contracts on Binance.

In addition, Binance allows cryptocurrency investors to earn passive income from their holdings by staking and saving for higher returns.

Although the platform operates as largely unregulated, Binance is known for adhering to strict know-your-customer (KYC) standards that keep users' funds and information safe. Users can buy ALGO cryptocurrency via PayPal, bank transfer, peer-to-peer (P2P) and e-wallet alternatives.

Buy Algorand

4. Coinbase - The best platform to buy Algorand for newcomers

Coinbase is a cryptocurrency exchange that allows users to buy, sell and store digital assets. It is one of the best places to buy Algorand because of its user-friendly interface that caters to the needs of new investors.

The website provides many resources and tools to help cryptocurrency novices understand key ideas and apply them to their advantage. Customers can use Coinbase To buy, sell more than 100 different cryptocurrencies.

Buy Algorandna coinbase

The Financial Conduct Authority (FCA) oversees E-Money Coinbase services protect customer information and assets.

The site charges a deposit fee of 3.99% on debit card deposits. Other fees are generated based on transaction size, with transactions under $10,000 incurring a 0.50% taker and 0.5% maker fee.

Users who want to buy Algorand on Coinbase, will find that the platform offers Apple Pay and Google Pay, among many other options. The platform also offers popular payment options, such as bank transfers, and debit cards.

Buy Algorand

What is Algorand used for?

Algorand serves many purposes in the cryptocurrency space. A list of Algorand's most important uses is discussed below:

To improve scalability, speed and security

Most blockchains struggle to create a balance with solving the problems of scalability, speed and security without sacrificing one for the other. Algorand was created to provide a sustainable solution to these problems without sacrificing any of them.

Pure Proof of Stake

Algorand blockchain takes it a step further to use a more democratized pure proof-of-stake consensus mechanism. This upgrade allows Algorand to process smart contracts on subchains and then add them to the main chain.


The Algorand blockchain processes up to 1,300 transactions per second (TPS), which is significantly higher than Ethereum and Bitcoin. In addition to speed, Algorand improves its speed with an instant finality feature that instantly adds verified data permanently to the block.

Ways to buy Algorand

Let's take a look at the various options that allow you to Algorand purchase :

Buy Algorand with PayPal

PayPal needs no introduction. This San Francisco-based service is the world's most popular online payment processor, with hundreds of millions of customers and merchants using it to settle payments.

PayPal's biggest advantage is its seamless combination of security and convenience. PayPal is a convenient payment option, and it is ubiquitous. Every broker we've reviewed above allows you to use this form of payment to purchase Algorand.

Buy Algorand with a credit or debit card

Purchase Algorand by card is also possible. Like PayPal, credit cards are popular because they are ubiquitous. Almost every adult in the developed world has access to a card that they use to process payments whenever they want.

Currently, most of the top cryptocurrency exchanges offer card purchases. But, as with PayPal, the most important issue regarding credit cards is fees. Different card manufacturers charge different fees, and they may take into account factors such as the size of the transaction and your location when determining these fees. So pay attention to the applicable fees for card purchases and follow them.

Algorand's best wallets

It is also crucial to understand the right storage solutions for ALGO cryptocurrency. In general, the best way to store Algorand is through a wallet. Cryptocurrency wallets work the same way as traditional wallets. They help you store your cryptocurrencies and keep them from hackers. At the same time, they also allow you to send and receive cryptocurrencies, removing any complicated steps.

Cryptocurrency wallets are directly connected to the blockchain of assets. So, every time a transaction involving the wallet is made, the wallet's balance is automatically updated. The wallet also stores two types of keys - your private key and your public key. Your public key is basically the wallet's address. It is a long alphanumeric combination that you give to anyone who wants to send you money, and functions as your identity on the blockchain. Your private key is used to authorize outgoing transactions.

Although there are different types of portfolios, these are the most significant categories.

Hardware wallets

A hardware wallet is a physical device that stores your keys offline. These wallets are advertised for their security because they store your keys offline - something known as cold wallet storage. Because they are offline, hardware wallets are relatively much harder to hack. For people who take security very seriously, these wallets are the gold standard.

But at the same time, hardware wallets are generally less convenient for day-to-day transactions. They are also more expensive, so price-conscious investors may not be attracted to buy them.

Program portfolios

A software wallet is like an application that is downloaded and installed on your computer. These wallets make it easy to send and receive money because they are always online and available at the click of a button. However, because they are hosted on an Internet-connected device, they are more susceptible to malware and viruses than physical wallets.

Mobile wallets

Mobile wallets work similarly to software wallets - the only difference is that they are used on mobile devices. With mobile wallets, sending and receiving money is quite convenient.

Investors who want to send and receive money on the go will love these. But, as with software wallets, it's also important to keep mobile wallets secure. Be careful with your keys and regularly scan your device for malware.

eToro MoneyWallet - The safest ALGO wallet

If you are looking for a wallet that will allow you to store cryptocurrencies safely and conveniently, we recommend using the eToro Money wallet. This wallet was built by eToro and offers a seamless combination of security and convenience.

etoro wallet

eToro Money uses security features such as two-factor authentication (2FA) and machine learning behavioral analytics to keep your funds safe. The wallet also offers multiple levels of encryption to protect against unauthorized access to your data.

While the wallet doesn't allow you to store your private keys, this is nothing to worry about. There is a recovery process you can use if you ever lose access to your keys, and eToro Money takes care of almost everything else on your behalf.

Buy Algorand on eToro

How to buy Algorand - a guide

Let's consider, how to buy ALGO. eToro is our recommendation for the best place to buy Algorand. We highlight tips on how to buy cryptocurrency on eToro without stress.


Go to home page eToro and click "Join Now.", enter your email and password, and then confirm your account by clicking on the link sent to you. This process should not take more than a few minutes.

Verify your identity

As a regulated exchange, eToro requires you to verify your identity before using it. If you fail to do so, you will not be able to use all the broker's features.

Go to the "Verify" prompt on your profile page and click on it. To verify your identity, you will need to share your information and upload both your government-issued ID card and proof of residence.

Deposit of funds

On the home page, there is a blue "Deposit" button. Click on it to proceed. eToro allows you to deposit funds through various channels - including bank transfers (in some countries), cards and payment processors. Choose the best option for you and proceed.

In most countries, the minimum eToro balance is 10$. You can also check their support page to see the corresponding balance in your country.


With your wallet funded, go to the search bar and search for "ALGO." Click on the result and on the "Open Trade" button. Enter how much you would like to buy and click "Trade."

Buy Algorand on eToro

How to sell Algo

Selling cryptocurrencies on eToro is even easier than buying. To close your position, follow these steps:

Click on the "Portfolio" button to view available cryptocurrencies.
Choose "ALGO" among the assets in your portfolio
Click on the red cross on the right to close the deal
eToro will display a box with the value of the cryptocurrency and your profit or loss if you close the deal
Click on "Close Transaction."


Above is your complete guide how to buy Algorand. For those who would like to know where to buy ALGO, we recommend using eToro. This broker is known for many things, including its user-friendly interface and quick setup process. For an easy, stress-free experience, eToro is your best choice.

FAQ - when buying Algorand cryptocurrency

Different brokers allow you to buy Algorand. We, however, recommend buying this asset on eToro. This broker is famous for its commission-free trading, as well as its easy-to-use interface, which allows you to make a purchase easily.

If you are looking for how to buy Algorand, your best choice would be eToro. This broker is regulated and available in more than 50 countries. With a low minimum balance, you will find that it is easy to buy ALGO. Selling is also easy, as shown in our example above.

Algorand appears to be a good investment. The asset is tied to the Algorand blockchain, which advertises itself as a blockchain for FutureFi. Combining centralized and decentralized finance, Algorand operates in a very lucrative space. So, investors looking to buy into this can invest in Algorand.

Algorand appears to be a good investment at the moment. Linking the asset to the Algorand blockchain is very valuable, and market participants expect Algorand should see gains as both the centralized and decentralized financial spaces continue to grow.

We recommend using eToro. The broker is easy to use and even offers a Copy Trader feature so you can use your best traders and make money. eToro also offers an eToro wallet, allowing you to store cryptocurrencies after investing in Algorand.

Yes. eToro listed Algorand in 2021.

Yes, Coinbase has listed Algorand in July 2020.

The views and opinions expressed here are solely those of the author and should not be taken as financial advice either. Every investment and transactional activity involves risk, so you are advised to do your own research when making any trading, investment or financial decisions.

TOP 3 Most Popular Crypto Offers.

You will receive $10

Registration bonus 

Our assessment 5.0


You will receive $25

Registration bonus

Our assessment 5.0


20% Discounts

Innovative crypto exchange

Our assessment 5.0

4.6/5 - (13 votes)