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260+ fiat/cryptocurrencies
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Debit card for spending crypto
Earn 1% GBP cashback
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Algorand (ALGO) is a cryptoasset that currently ranks as the 41st largest by market cap (that's the total value of Algorand in circulation – $3.9 billion).
Like all cryptoassets, it's highly volatile, and capable of major price swings in a single day. As of 16 January, ALGO is trading for $0.46 (£0.38), an increase of 19.27% against $0.39 24 hours earlier. Over the past year, Algorand's price has seen a barnstorming increase of 141.48%.
How to buy Algorand in 4 steps
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Compare crypto exchanges
The easiest way to buy Algorand is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
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Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
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Make a deposit
Once verified, you can deposit funds using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
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Buy Algorand
You can now exchange your funds for Algorand. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking "Buy". If you like, you can now withdraw your Algorand to your personal wallet.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Best for beginners
Capital at risk. T&Cs apply.
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Simple 1% trading fee
Ready-made crypto portfolios
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Capital at risk. T&Cs apply.
200+ cryptocurrencies
Free pro-trading tools
Flexible deposit methods
Free pro-trading tools
Flexible deposit methods
Where to buy Algorand
Find an exchange to buy, sell and trade Algorand by comparing deposit methods, supported fiat currencies and fees. Select "Go to site" to sign up directly with the exchange.
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Finder Score for crypto exchanges
To make comparing even easier we came up with the Finder Score. Fees, features and asset-support across the most popular platforms are all weighted and scaled to produce a score out of 10. The higher the score the better the exchange – simple.
These exchanges cover a wide range of cryptocurrencies, but we can’t guarantee they’ll all offer this coin.
Is it a good time to buy Algorand?
Only you can make the decision about when is the best time to buy Algorand. However, here are some things to consider as part of your research.
Take a look at the fundamentals of Algorand. What type of coin is it? Utility, payment or governance token etc? How large is its market cap? How many coins are in circulation? All this will help you to understand how Algorand works and how much risk is involved.
Also consider how has performed so far. Our charts below show you Algorand's performance over time as well as its all time high.
Algorand to USD and GBP calculator
Our calculator works out how much Algorand would be worth in USD and GBP, depending on how much you hold or are looking to purchase.
ALGO price last updated 16 January 2025, 12:01 UTC.
Frequently asked questions
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
More resources on Finder
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