Buy Algorand (ALGO) UK
Algorand (ALGO) Price in GBP:
Current Price: £0.25 24hr: -3.87%
Algorand was invented as a protocol to have fast transactions. It does that with a permissionless proof-of-stake blockchain protocol. Algorand hopes to emulate both Bitcoin and Ethereum, along with aiming to solve other problems through blockchain.
Buying Algorand Crypto on Binance
Exchanges like Binance have the ability to directly purchase cryptocurrencies with GBP without having to spend for conversion to other currencies such as EUR or USD.
f you are new to the crypto space, Binance is undoubtedly one of the well-known cryptocurrency trading platforms. The massive trade volume and the options for other currencies make it the best.
Here’s how you can buy ETH with Binance:
- Sign up for an account on Binance
- Next, proceed with the verification process
- Once you are verified, you can buy ETH on Binance via Credit/Debit card, Bank Deposit, P2P trading and third-party payment
- You will receive the ETH to your account once you have successfully paid
This is a great option for anyone looking to buy ETH with British Pounds in a simple and safe way.
Exchange Bitcoin for Algorand
The second option is for exchanging your Bitcoin for Algorand. If you already have Bitcoin, head on to Step 2.
Step 1: Buy Bitcoin
You may wish to trade Bitcoin for Algorand on another exchange. This is also a great option if you’re looking to buy other cryptocurrencies, as having Bitcoin makes trading on exchanges easy. In this guide, we will use Binance exchange. Note that you can achieve the same result in an easier manner by depositing GBP to Binance, in accordance with Option 2.
This guide assumes you already have Bitcoin. If you don’t, you can buy Bitcoin at any of the following options:
- Binance (recommended; buy with £GBP or €EUR)
- CEX.io (recommended; buy with £GBP)
- Sign up for an account and buy BTC straight away with your debit or credit card, or bank transfer.
- Local Bitcoins (buy with £GBP)
- Buy BTC from other Brits using bank transfer.
- Coinbase (buy with EUR)
or, click here for a detailed guide on buying BTC in the UK
Waiting for a bank transfer or verification? Get a head-start by signing up for your Binance account while you wait…
Step 2: BTC -> ALGO
1.Register for a Binance account here
2. Deposit Bitcoin to your account (your Binance Bitcoin wallet) by heading to Funds -> Deposits in the top menu.
3. Select BTC from the drop-down menu, and copy your BTC Deposit Address
4. Send your Bitcoin to this address.
5. Use the panel to the right side of the screen (which shows many currency pairs alphabetically, starting AMB/BTC, ARK/BTC, etc.)
6. Type ALGO in the search bar
7. Click the ALGO/BTC link to reach the market page
8. Using the Buy ALGO panel, set your Buy parameters, and click the green buy ALGO button
9. This places an order, which can be monitored via the Orders tab in the top navigation bar, or directly below the Buy box in the Open Orders pane
10. When your order is filled, the exchange is complete, and your ALGO will appear in your Algorand wallet under the Funds -> Balances page.