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Earning Algorand with Algorand (Algo) Mobile Wallet.

Earning Algorand with Algorand (Algo) Mobile Wallet.

By SAGE84 | I-Love-Crypto | 26 Nov 2020


 

" Earning Algorand with Algorand (Algo) Mobile Wallet. "

 

 Binance exchange ended its flexible staking program in September. Of course, I was also benefiting from this award because I kept Algorand in my wallet. When Binance switched to the locked staking system since September, I was no longer receiving additional algo rewards. I didn't want to participate because I had to lock my Algo balance for at least 30 days in locked staking to get the Algo reward. (Because I love freedom :)). I continued to keep Algorand in my Binance wallet for about a month. I knew that the Algorand system was an undiscovered treasure and it seemed clearly that it was not taking its rightful place in the current market as it was not discovered. Then “I have a gut feeling that I need to do some more research on Algorand”. Because I wanted to increase my Algorand balance. While continuing the research, I saw that Algorand has a wallet for Android and Ios systems and I decided to install it on my phone. I sent a small amount of Algorand for the first trial. The transaction fee was very low 0.01 Algo was interrupted and in less than a minute the Algo transfer from my Binance account to my Algorand wallet was successful very quickly. Then I started waiting to clarify how many minutes and how many rewards I would receive from the Algo I deposited. And I got the first Award in proportion to my balance. I was really excited to win my first Algo award by testing the possibility of Algo staking in the wallet. I quickly transferred 940 Algorand from my Binance account to my Algorand wallet without wasting any time to enlarge the reward. Now I will tell you what I learned about the wallet with pictures.

First, you need to download the wallet application from the play store as Android or ios.

After installing the application on your phone, you must create your own wallet. In these parts, I assume you know that you need to keep your wallet key very secret, especially if you are dealing with crypto business. After creating a wallet, you need to create a pin code consisting of 8 digits to open the wallet. Please write down this special key and your pin code as a precaution against forgetting. Let's say you entered your pin code and you're in the wallet.

You will see the main screen as in the picture. In fact, instead of Tether, Algorand will appear on this screen.

Algorand Wallet

 

Select and add Tether from the new window that opens when you click "Add new asset". What you add will be added under the Algorand as below. Of course, do not forget that there is a 0.001 Algo transaction fee for these additions ..!

Algorand Wallet 2

 

Algorand Wallet 3

 

We reach the screen below when we click on the place where Algos is written in the first picture above. When you press the Receive green button, your wallet address and or code will appear. You can transfer Algo or Tether here from another exchange or wallet to top up your zero balance using either of these two. Note that Tether transfer can only be made on the Bitfinex exchange right now.

Algorand Wallet 4

You can actually access your wallet address and or code anywhere you see this symbol (or code symbol) ..!

When you load the Algorand balance, you will receive a reward every 9 minutes, proportional to your balance. The rewards are first added to "Rewards Since Last Transaction" and over time you will see your main balance increase ..! When you click on the place where it says "Click Here" in the picture below, a detailed window will open ..! We stated that you will receive the award in proportion to your balance. Let's give an example, my balance is 946 Algo. The reward I will receive every 9 minutes will be 0.00946 Algo. Also remember that you must have at least 1 Algo balance to win an Algo reward. And as a result of your transactions, your Reward balance will be added to your main balance and the reward counter will be reset. In the picture below you will see 1.430531 Algo added as an example ..!

Algorand Wallet 5

 

Algorand Wallet 6

Let's explain what the other buttons are. When you press the Settings button, you will see a screen like the one below. You can change your settings here. As you can see, only English is supported as a language, but other language support will be added later.

Algorand Wallet 7

The information about your transactions appears in the Notifications section. This screen will open when you click the Notifications button in the picture below.

Algorand Wallet 8

 

If you have sent Algo to someone or an exchange in the Contacts section and save the contact, it will appear here. You can access the wallet or code and wallet address of the person you registered here. You can add people by clicking the places I marked.

Algorand Wallet 8

 

Finally, I will explain a few features on the Home screen in a single screen shot by numbering them.

1. When you click on the number 1 on the main screen or scan code screen will open.

2. Clicking the green plus sign (number 2) will bring up a screen for adding a new account.

3. When you click on the or code symbol to place number 3, you can easily access the or code of your Algorand wallet and your wallet address.

4. When you click on the three dots, the number 4, the screen will open where you can perform other editing and deletion operations related to the account.

5. Click on place number 5 showing the up and down arrows, and short screen keys will appear to send and receive Algo.

Algorand Wallet 9

 

Yes, I always talked about the positive and beautiful features, and now I will tell you the missing parts.

1. It only supports the English language. I believe multi-language support will be added soon.

2. Currently it only allows sending and receiving Tether on Bitfinex exchange. When the studies are completed, it will be appropriate to send and receive Tether from other major exchanges.


The link to download Algorand mobile wallet is https://www.algorand.com/wallet

I told you about the Algorand mobile wallet and its features. I will definitely share articles about new developments and news about Algorand. Thank you for reading.

These are my thoughts. If you disagree just read and smile and pass.  :)

 

 

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SAGE84
SAGE84

Youtuber and blogger and crypto money.


I-Love-Crypto
I-Love-Crypto

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