What Is Algorand Cryptocurrency?
Algorand is a project aimed at expanding the possible uses of cryptocurrency by increasing the speed of transactions. This platform was officially launched in 2019.
Algorand has identified the key goal as creating a blockchain that brings real value to the economy. According to the team, it will improve the efficiency of existing financial institutions and open up new markets that cannot exist without a decentralized, unrestrictedly scalable tool, and it should increase the ALGO price.
What Is ALGO Coin?
The ALGO crypto is introduced into the system with each new block and goes to all currency holders. Algorand cryptocurrency allows users to create smart contracts and tokens that can represent new or existing assets.
The Algorand Foundation, the nonprofit organization that oversees and funds the development of the protocol, says a total of 10 billion ALGO tokens will be created.
The ALGO coin runs on the Pure Proof of Stake algorithm. Thanks to it, any participant who has ALGO in their account can be selected by a validator. The amount of cryptocurrency associated with the address affects the probability. Validators are chosen randomly and by secret ballot.
For storage of an Algorand coin, users can get the official Algorand wallet for both Android and iOS devices, which can be integrated with hardware wallets. Except for it, this app lets users always be aware of Algorand price and news.
Is Algorand A Good Investment?
Algorand seems to be a reliable project first of all because of the team working on it and a good idea. Successfully completed private token sales only strengthen this impression and make the Algorand price prediction more positive daily.
Where To Buy ALGO?
To buy ALGO coin, it's better to access StealthEX. It allows you to purchase this crypto with fiat money (EUR, USD, RUB, GBP). StealthEX is a convenient and user-friendly cryptocurrency exchange.
How To Buy Algorand?
To start this process, a user just has to:
- Switch from Swap Crypto to the Buy Crypto section.
- Select a fiat currency, for example, USD, from the left drop-down list and ALGO coin from the right list of coins.
- Enter the amount of fiat money he wants to exchange. Then the estimated amount of Algorand that a user will receive appears in the right column.
- Press the START EXCHANGE button.
As the second step, you need to provide the Algorand recipient address. The recipient address must match the cryptocurrency you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.
As soon as you have carefully checked all the details, you can press the NEXT button and you will be redirected to the CONFIRMATION page with the information about the exchange.
Here you can revise the address provided and the amount of ALGO cryptocurrency you will receive.
Pressing the NEXT button you will be redirected to the Exchange page.
Before purchasing crypto, read the Terms of Service of StealthEX and agree with them. By doing this, you confirm that you understand that our platform is not responsible for any claims, damages, or costs arising from your use of Mercuryo services.
After pressing the PROCEED WITH THE EXCHANGE button, the Mercury service will be opened inside the StealtEX interface.
Firstly, agree with the Terms of Service provided by Mercuryo and click Buy.
If you purchase crypto via Mercuryo for the first time, you have to verify your identity. You aren’t required to go through this procedure again if you’ve already used these services.
To verify your identity, you need to provide your phone number, email, enter confirmation codes that you’ve got to your phone and email. Then insert your personal info, including your first name, last name and date of birth.
After that, provide your card details, such as your card number, expiry date, cardholder name with capital letters and click Buy.
Mercuryo accepts ONLY Visa and MasterCard: virtual, debit and credit cards. Mercuryo holds and immediately withdraws 1 EUR to check if your bank card is valid.
If you swap fiat money to crypto via Mercuryo for the first time, you should also pass the KYC procedure. As soon as you complete it, Mercuryo sends crypto to the blockchain address you have indicated earlier.
After buying crypto, you’ll also receive a letter from our partner Mercuryo to your email with all data about this transaction, including the amount of fiat debited, the amount of crypto sent, Mercuryo ID of the transaction, top-up address.
From here you can either create a new exchange on StealthEX.io or leave the page and check your Algorand wallet to be surprised at how fast you got ALGO coin. Usually, the process is quite rapid so you won’t need to wait long.
If you have remaining questions about the StealthEX exchange service you can go to our FAQ section and find all the necessary information there.
We are always ready to give you support if you have any issues with exchanging coins. Our team does our best to protect all members and answer their questions. For all requests message us via [email protected].
You are more than welcome to visit StealthEX exchange and see how fast and convenient it is.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.