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What is ALGO?

Algorand is a decentralized network created in 2017 by MIT Professor and cryptography scientist Silvio Micali, most renowned for his contributions to zero-knowledge proof. Algorand aims to solve the blockchain trilemma of achieving scalability, security and decentralization at the same time.

Algorand functions similarly to the Ethereum blockchain, but with much faster transactions and a larger focus on immediate transaction finality. For example, it can process more than 1,000 transactions per second. Algorand uses ASA, the Algorithm Standard Protocol, which has been compared to Ethereum’s ERC-20 protocol.

Algorand uses a Pure Proof-of-Stake (PPoS) mechanism, where participation nodes are randomly selected with direct proportionality to the amount of ALGO staked. The current annual staking reward is between 4-6% with a zero lock and unlock period. Anyone holding ALGO in their wallet can act as a participation node and earn staking rewards.

ALGO is Algorand’s native coin and is used for staking, transaction fees, and governance. Algorand has immense real-world value and is already powering SOV in the Marshall Islands, the first national digital currency.

Why buy ALGO with OKX?

What can I do after I buy ALGO?

Algorand is ranked amongst the top 40 crypto assets in the market and is considered a leading alternative to Bitcoin and Ethereum as it aims to tackle scalability, security and decentralization issues. Buy Algorand to have a stake in the project and reap potential rewards.

Hold Algorand as an Investment

As the first cryptocurrency to power a national digital currency, Algorand is a crypto asset with proven real-world value. On OKX, you can hold Algorand long-term to benefit from its price movements.

Buy and Sell Algorand

You can buy and sell your Algorand holdings whenever you want on OKX. OKX offers the ALGO/USDT, ALGO/USDC and ALGO/BTC trading pairs.

Transfer and Transact with Algorand

You can send Algorand to anyone worldwide with a compatible wallet securely and easily with OKX.

Earn Passive Income on Algorand

OKX Earn allows you to use your Algorand holdings to generate high-interest APYs. Choose from flexible staking periods and earn competitive percentage rewards.

How to buy Cryptocurrency and store it safely?

Guide on how to buy Algorand (ALGO)

Buy Algorand with Debit/Credit Card

OKX facilitates seamless crypto purchases via debit/credit card payments. Buy Algorand tokens with any of our supported fiat currencies using Visa, Mastercard or other credit cards. In addition to USD, OKX supports over 90 fiat currencies for simple and direct transactions.

Buy Algorand via Third-Party Services

OKX has onboarded various third-party payment partners such as Banxa, MoonPay, Advcash and Mercuryo for you to buy Alogrand easily and quickly. Buy Algorand using your preferred third-party provider in just 2 to 10 minutes.

Trade Algorand on OKX

You will find popular Algorand trading pairs on the OKX trading dashboard, including USDT, USDC and BTC pairs. Trading on OKX is easy and instant. At the same time, you can gain exposure to decentralized finance and opportunities to earn passive income on your Algorand holdings. If you are new to crypto trading, you may take advantage of the free resources in OKX Academy.

Convert Your Crypto to Algorand

Buying Algorand may not be possible with some crypto assets or payment options, but OKX has you covered in such a scenario. OKX Convert offers free, instant, slippage-free swaps for over 100 different cryptocurrencies, including Algorand.

FAQs

Where can I buy Algorand?
You can buy Algorand securely on the OKX platform using major cryptocurrencies like BTC and USDT. Additionally, you can also buy Algorand with fiat. OKX supports flexible payment methods in 90+ fiat currencies. Create an OKX account or sign in to buy ALGO today.
Can I buy Algorand with a debit/credit card?
Yes, you can use your debit/credit card to buy Algorand with over 90+ fiat currencies on OKX. We support Visa, MasterCard, Apple Pay and more.
How do I buy Algorand with BTC?
We offer the ALGO/BTC and ALGO/USDT trading pairs on OKX. You can instantly swap your BTC or USDT for Algorand using the spot trading markets. Alternatively, you can also use OKX Convert.
Why should I buy Algorand on OKX?
OKX is a secure, easy-to-use, trusted cryptocurrency exchange platform with over 20 million crypto traders. Available on both web and mobile, the OKX trading dashboard is well-organized and loaded with features, such as advanced trading charts, live order book, multiple chart views, basic as well as advanced order types, and trading bot strategies.
Is it safe to invest in Algorand?
All cryptocurrencies, including Algorand, are considered a risky and volatile asset class. Before investing in Algorand, it is important to conduct sufficient research into the project.
What are the most popular cryptocurrencies to invest in today?
Top crypto, based on market capitalization or total circulation value, include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and XRP (XRP).
However, like all other crypto, the above are also featured with volatility and risks. You should do your own research (DYOR) and evaluate your risk appetite before investing in any crypto.
What are the top cryptocurrencies I can buy on OKX now?
OKX provides access to hundreds of crypto and trading pairings. Some of the most popular crypto on OKX include BTC, ETH, USDT, DOGE, SOL and OKB. You can visit our brand-new OKX Crypto Calculator. Select a crypto and a fiat currency to check the estimated real-time price.