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How to buy Algorand (ALGO) in New Zealand
A beginner's guide to buying and selling ALGO in New Zealand.
How to buy Algorand
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Algorand.
- Open an account on an exchange that supports ALGO.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Algorand.
- Buy Algorand.
Complete your Algorand purchase and then find the best wallet to store ALGO.
What is Algorand?
Algorand, founded in 2017, says it’s a permissionless, public and decentralized blockchain. It’s similar to Bitcoin or Ethereum in this respect. It’s designed to serve as a base-level blockchain protocol on which other dapps can be built and smart contracts operated.
One thing that makes Algorand different is that it claims to be highly scalable, so it’s not prone to the same bottlenecks or fee issues that Bitcoin or Ethereum frequently are. It uses a proof-of-stake system that provides immediate transaction finality, which eliminates a lot of the forking problems of earlier blockchains.
Algorand (ALGO) is the 18th largest cryptocurrency in the world by market cap, valued at $10,277,017,470. The current price of Algorand is $1.93, which is -0.155% lower than yesterday. Prices have ranged between $2.14 and $1.94 over the past 24 hours. All prices are listed in US dollars and accurate as of September 18, 2021 04:09 UTC.
Where to buy AlgorandFind an exchange to buy, sell and trade ALGO by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Algorand at a glance
|Total ALGO supply||5,853,221,430|
Algorand price performance over time
How to sell Algorand
You can cash out your ALGO with the same exchange you bought it through:
- Sign in to the exchange you have ALGO on.
If you store your Algorand in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of ALGO you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Algorand.
What to consider when buying AlgorandThere are risks involved in purchasing any cryptocurrency, and even though ALGO aims to offer more assurances through its money-back and Dutch auction system, it still carries many of the same risks as any other cryptocurrency, including a complete loss of funds in the event of hacking or other misadventure:
- The prevalence of protocol-level blockchain tokens. There are a lot of base-level blockchain protocols out there, and Algorand is operating in an extremely competitive area.
- Complications. The Algorand system is complex, and there may be issues with bugs or other errors down the line.
- Regulatory issues. As a public, permissionless blockchain protocol, Algorand occupies something of a regulatory gray area, and it may be unpredictably affected by regulatory shifts.
- User participation. Algorand emphasizes user participation, but this might be lacking if everyone is only interested in it for speculation.
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