25
BB
Expand
Website
www.algorand.com
Documentation
developer.algorand.orgwww.algorand.comwww.algorand.comimage.tokeninsight.com
Explorer
algoexplorer.io
Contract
--
Audited By
--
Code & Community
Investors
Lemniscap Nirvana Capital Bixin Capital Alumni Ventures Group Foundation Capital Visary Capital Multicoin Capital Eterna Capital Pillar VC Union Square Ventures Pillar Project

About ALGO

What is Algorand (ALGO)?

Algorand is a Layer 1, pure Proof-of-Stake blockchain that supports smart contracts and enjoys Ethereum compatibility. It can support decentralized app (dApp) creation thanks to the Algorand Virtual Machine (AVM) and has recently announced a push towards being Ethereum-compatible.

ALGO is the native cryptocurrency of Algorand, allowing its holders to participate in the consensus process of the blockchain and serving as the native currency of the ecosystem. The Algorand blockchain offers a highly efficient ecosystem for dApps that require reliable performance guarantees. The blockchain network enjoys a throughput of over 1,000 TPS, a finality time of fewer than five seconds, meager transaction costs of around 0.001 ALGO, and low energy consumption levels, all thanks to the PoS consensus mechanism.

From NFTs to DeFi and several other applications, Algorand positions itself as a better alternative to Ethereum and is listed among the market's top ‘Ethereum killers.’ The FutureFi network, as it positions itself, aims to be the future of finance as a leading fintech infrastructure provider with an intense focus on sustainability along the way - one of the most significant pain points for blockchain technology.

It calls itself the world’s greenest blockchain, and its commitment to sustainability is reflected in the growing number of environmentally conscious and responsible projects launching on the blockchain. In addition to receiving considerable traction among investors as more blockchains bridge to its ecosystem, Algorand enjoyed notable headlines and attention among investors when it announced a partnership with FIFA to become its official blockchain.

The Algorand Foundation is responsible for overseeing the decentralized governance of the Algorand network and developing its open-source ecosystem.

How Does Algorand Work?

Algorand utilizes a Pure Proof-of-Stake consensus mechanism to ensure broad participation within the network, offering greater security and speed to users and applications. Enjoying a block finality time in seconds, this technology lets the Algorand blockchain compete with mainstream financial and payment networks, offering a decentralized, secure, and fast alternative for payments.

Using cryptographic sortition, the Algorand network selects nodes to propose blocks in each round. A committee of voters votes on every new block proposed within the blockchain. Most honest voters can validate the transactions and add the block to the network.

Algorand also leverages a decentralized Byzantine agreement protocol to ensure the security of transactions and data within its ecosystem, thwarting potential 51% attacks that can bring down its infrastructure. Using anonymity in selecting nodes to validate transactions prevents attackers from compromising their integrity before they get added to the network.

Algorand’s network consists of two kinds of nodes for maximum efficiency - relay nodes which support high-speed communication, and participation nodes consisting of validators. In addition to this system, the innovation from Algorand Foundation also utilizes a blockchain compression technology called Vault™ to minimize storage and strain on the network’s nodes as the amount of users and data handled by it grows over time.

What is ALGO Used for?

The Algorand protocol is an exciting ecosystem that hosts dApps across DeFi, NFTs, gaming, Web 3.0, DAOs, decentralized identity, metaverse, and several other categories. As a result of its highly versatile platform, the native ALGO has several uses and is a valuable digital asset to include in crypto investors’ portfolios. Some of the leading uses for the ALGO cryptocurrency include:

Utility Token in Algorand Ecosystem

The ALGO crypto is used to pay transaction fees within the Algorand ecosystem's apps and for making payment transfers. ALGO token holders can stake their cryptocurrencies to participate in the consensus process within the blockchain, helping make the Algorand ecosystem more resilient and secure. For their contribution as validators, they can enjoy a stream of passive income, receiving a portion of transaction fees as rewards for creating new blocks.

Digital Asset to Trade and Hold

ALGO is an exciting crypto asset to invest in because of the high potential of the Algorand ecosystem to support Ethereum-compatible apps but with higher efficiency. The rising adoption of the blockchain platform by developers and users can increase on-chain activity and support the Algorand price, making it a valuable asset to invest in. Review the latest ALGO price, market cap, circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on Algorand price action before you enter a new trade.

Earn Passive Income

In addition to staking on the Algorand blockchain, the ALGO token can generate passive income via staking on DeFi platforms and crypto exchanges. You can also lend your ALGO holdings to improve liquidity on these platforms, fetching you exciting returns on your holdings and growing your crypto portfolio.

KuCoin offers you two options to earn passive income with your ALGO holdings. You can use the Crypto Lending feature to lend liquidity in ALGO to the exchange over seven days, 14 days or 28 days to earn attractive daily interest. You can also stake ALGO on KuCoin Earn to generate APRs over a flexible duration of time.

How to Buy Algorand (ALGO)

Algorand (ALGO) is available for buying on leading cryptocurrency exchanges, DEXs, and digital wallets. KuCoin is one of the most convenient platforms from where you can buy ALGO using the following steps:

1. Register for an Account With KuCoin

If you are new to our platform, open an account on KuCoin using your email ID and other details. We recommend that you complete your KYC verification upon login so that you have access to all our services and offerings.

2. Add Crypto Funds to Your Trading Account

Once you’ve set up your KuCoin account, it’s time to add funds in cryptocurrency to start trading on our platform. Head to the KuCoin Fast Trade section to buy some crypto using fiat currency through one of over 70 payment methods, such as Visa, Mastercard, PayPal, SEPA, and more.

You can also add crypto funds to your account through the KuCoin P2P section or by directly interacting with third-party sellers on our platform.

3. Buy ALGO on KuCoin Using Existing Crypto

KuCoin also allows you to use your existing cryptocurrency holdings to buy and trade ALGO. All you need to do is to transfer your existing cryptocurrencies from your digital wallet into your KuCoin account.

4. Trade ALGO/USDT on KuCoin

After adding crypto funds to your KuCoin account, it’s time to start trading on the exchange. Head to KuCoin’s Spot Trading section to find the ALGO/USDT crypto pair. Check Algorand price live, ALGO market cap, circulating supply, and 24-hour trading volume, and perform fundamental, technical, and sentiment analysis on the ALGO price action before entering a new trade in this crypto asset.

Enter the number of USDT you wish to exchange for Algorand and check the number of ALGO tokens you can receive and the trading fees you will be charged. After verifying all the information, click on Buy to confirm your trade.

5. Receive and Store ALGO Safely

It will take a few minutes after the successful execution of your trade to receive the ALGO crypto in your trading account. Once this happens, you can continue holding them on KuCoin or transfer them to an external wallet for long-term holding with greater security.

FAQ

Is Algorand a Good Investment?

Algorand (ALGO) is among the top 30 cryptocurrencies by market cap as of May 2022, making it an asset worth monitoring. One of the most promising aspects of Algorand is that it is backed by a solid team of developers and sound innovation and research. Professor Silvio Micali, Algorand’s founder, teaches computer science at MIT and is a recipient of the Turing Award.

The Proof-of-Stake blockchain was developed from the ground up, keeping in mind the need for efficiency in transaction processing and overall operations to offer reliable performance guarantees. This is why Algorand is one of the most energy-efficient blockchain networks in the world to date.

In addition, its Ethereum compatibility via the AVM makes the ecosystem even more attractive for dApp developers, offering them a low-cost and more scalable ecosystem to launch their projects on. As the ecosystem grows in the future, the value of Algorand and the ALGO price could increase further, making it an exciting asset to invest in early.

The Algorand network also offers much promise beyond DeFi and NFTs in Web 3.0. The surge in deployment of Web3 applications on its blockchain can further drive up on-chain activity on the network and raise the Algorand price, offering more reasons to consider investing in ALGO.

How High Can ALGO Price Go?

Although it is impossible to offer an accurate Algorand price prediction over any given period, ALGO promises to be one of the most versatile crypto assets in the market at present. The DeFi boom and Ethereum’s network congestion woes had driven up the allure of its ecosystem among developers, shining the spotlight on the ALGO token in 2021.

The Algorand price had surged by over 53% in 2020 but saw a remarkable increase in 2021 during the crypto markets' bull run. The ROI on ALGO exceeded 250% in the year, making it one of the best performing cryptocurrencies of 2021, powered by the booming demand for DeFi and other dApps.

Any further spikes in the Algorand price and market cap would result from a continued uptick in the adoption of its technology among developers and end-users. In addition, a positive sentiment among investors towards the broader crypto market is vital to take the ALGO price to newer highs in 2022 and beyond.

How to Stake ALGO

In addition to trading, staking cryptocurrencies offers an exciting and far safer way to generate profits from investing in this asset class. Here are the steps to follow to stake Algorand:

1. Buy Algorand tokens on leading crypto exchanges such as KuCoin, digital wallets, or DEXs.

2. Look for a crypto platform such as an exchange or DeFi app that lists ALGO for staking. On KuCoin, you can head to the KuCoin Earn section to stake your ALGO holdings conveniently and earn attractive APRs on flexible tenors.

3. If you wish to stake on other platforms, such as digital wallets or DeFi projects, you will have to transfer your ALGO to the respective platform to stake them.

4. In addition to staking ALGO, KuCoin also lets you earn attractive interest rates on Algorand via our Crypto Lending feature.

5. Head to this section to lend liquidity to the KuCoin Exchange using your ALGO crypto. Select ALGO from the list of assets, enter the amount of Algorand you wish to lend and select the duration (7 days, 14 days, or 28 days) to get details on the daily interest rate and estimated profit.

How to Transfer ALGO From an Exchange to a Wallet

The Algorand Wallet - the official wallet of the ALGO token and the blockchain, has been rebranded as Pera Wallet. As the official wallet in use within the Algorand blockchain ecosystem, Per offers additional benefits and lets you do more with your ALGO tokens.

Here’s how you can transfer your ALGO crypto from KuCoin to the official Algorand wallet, Pera:

1. Create an account with Pera Wallet if you don’t already have one.

2. Buy ALGO on KuCoin with your existing cryptocurrencies. Check the latest Algorand price, market cap, 24-hour trading volume, and news before placing a new trade in ALGO.

3. Head to the Main Account (Deposit & Withdraw) section within your KuCoin account and select the Withdraw option.

4. Select the ALGO crypto from the dropdown list on this page.

5. Add your Pera Wallet address in the following box after selecting ALGO from the list.

6. Enter the number of ALGO crypto you wish to transfer from KuCoin to Pera Wallet here and confirm the transaction details to send your Algorand tokens.

7. The multi-step verification will ensure that the transaction takes place securely.

25
BB
Expand
Website
www.algorand.com
Documentation
developer.algorand.orgwww.algorand.comwww.algorand.comimage.tokeninsight.com
Explorer
algoexplorer.io
Contract
--
Audited By
--
Code & Community
Investors
Lemniscap Nirvana Capital Bixin Capital Alumni Ventures Group Foundation Capital Visary Capital Multicoin Capital Eterna Capital Pillar VC Union Square Ventures Pillar Project

About ALGO

What is Algorand (ALGO)?

Algorand is a Layer 1, pure Proof-of-Stake blockchain that supports smart contracts and enjoys Ethereum compatibility. It can support decentralized app (dApp) creation thanks to the Algorand Virtual Machine (AVM) and has recently announced a push towards being Ethereum-compatible.

ALGO is the native cryptocurrency of Algorand, allowing its holders to participate in the consensus process of the blockchain and serving as the native currency of the ecosystem. The Algorand blockchain offers a highly efficient ecosystem for dApps that require reliable performance guarantees. The blockchain network enjoys a throughput of over 1,000 TPS, a finality time of fewer than five seconds, meager transaction costs of around 0.001 ALGO, and low energy consumption levels, all thanks to the PoS consensus mechanism.

From NFTs to DeFi and several other applications, Algorand positions itself as a better alternative to Ethereum and is listed among the market's top ‘Ethereum killers.’ The FutureFi network, as it positions itself, aims to be the future of finance as a leading fintech infrastructure provider with an intense focus on sustainability along the way - one of the most significant pain points for blockchain technology.

It calls itself the world’s greenest blockchain, and its commitment to sustainability is reflected in the growing number of environmentally conscious and responsible projects launching on the blockchain. In addition to receiving considerable traction among investors as more blockchains bridge to its ecosystem, Algorand enjoyed notable headlines and attention among investors when it announced a partnership with FIFA to become its official blockchain.

The Algorand Foundation is responsible for overseeing the decentralized governance of the Algorand network and developing its open-source ecosystem.

How Does Algorand Work?

Algorand utilizes a Pure Proof-of-Stake consensus mechanism to ensure broad participation within the network, offering greater security and speed to users and applications. Enjoying a block finality time in seconds, this technology lets the Algorand blockchain compete with mainstream financial and payment networks, offering a decentralized, secure, and fast alternative for payments.

Using cryptographic sortition, the Algorand network selects nodes to propose blocks in each round. A committee of voters votes on every new block proposed within the blockchain. Most honest voters can validate the transactions and add the block to the network.

Algorand also leverages a decentralized Byzantine agreement protocol to ensure the security of transactions and data within its ecosystem, thwarting potential 51% attacks that can bring down its infrastructure. Using anonymity in selecting nodes to validate transactions prevents attackers from compromising their integrity before they get added to the network.

Algorand’s network consists of two kinds of nodes for maximum efficiency - relay nodes which support high-speed communication, and participation nodes consisting of validators. In addition to this system, the innovation from Algorand Foundation also utilizes a blockchain compression technology called Vault™ to minimize storage and strain on the network’s nodes as the amount of users and data handled by it grows over time.

What is ALGO Used for?

The Algorand protocol is an exciting ecosystem that hosts dApps across DeFi, NFTs, gaming, Web 3.0, DAOs, decentralized identity, metaverse, and several other categories. As a result of its highly versatile platform, the native ALGO has several uses and is a valuable digital asset to include in crypto investors’ portfolios. Some of the leading uses for the ALGO cryptocurrency include:

Utility Token in Algorand Ecosystem

The ALGO crypto is used to pay transaction fees within the Algorand ecosystem's apps and for making payment transfers. ALGO token holders can stake their cryptocurrencies to participate in the consensus process within the blockchain, helping make the Algorand ecosystem more resilient and secure. For their contribution as validators, they can enjoy a stream of passive income, receiving a portion of transaction fees as rewards for creating new blocks.

Digital Asset to Trade and Hold

ALGO is an exciting crypto asset to invest in because of the high potential of the Algorand ecosystem to support Ethereum-compatible apps but with higher efficiency. The rising adoption of the blockchain platform by developers and users can increase on-chain activity and support the Algorand price, making it a valuable asset to invest in. Review the latest ALGO price, market cap, circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on Algorand price action before you enter a new trade.

Earn Passive Income

In addition to staking on the Algorand blockchain, the ALGO token can generate passive income via staking on DeFi platforms and crypto exchanges. You can also lend your ALGO holdings to improve liquidity on these platforms, fetching you exciting returns on your holdings and growing your crypto portfolio.

KuCoin offers you two options to earn passive income with your ALGO holdings. You can use the Crypto Lending feature to lend liquidity in ALGO to the exchange over seven days, 14 days or 28 days to earn attractive daily interest. You can also stake ALGO on KuCoin Earn to generate APRs over a flexible duration of time.

How to Buy Algorand (ALGO)

Algorand (ALGO) is available for buying on leading cryptocurrency exchanges, DEXs, and digital wallets. KuCoin is one of the most convenient platforms from where you can buy ALGO using the following steps:

1. Register for an Account With KuCoin

If you are new to our platform, open an account on KuCoin using your email ID and other details. We recommend that you complete your KYC verification upon login so that you have access to all our services and offerings.

2. Add Crypto Funds to Your Trading Account

Once you’ve set up your KuCoin account, it’s time to add funds in cryptocurrency to start trading on our platform. Head to the KuCoin Fast Trade section to buy some crypto using fiat currency through one of over 70 payment methods, such as Visa, Mastercard, PayPal, SEPA, and more.

You can also add crypto funds to your account through the KuCoin P2P section or by directly interacting with third-party sellers on our platform.

3. Buy ALGO on KuCoin Using Existing Crypto

KuCoin also allows you to use your existing cryptocurrency holdings to buy and trade ALGO. All you need to do is to transfer your existing cryptocurrencies from your digital wallet into your KuCoin account.

4. Trade ALGO/USDT on KuCoin

After adding crypto funds to your KuCoin account, it’s time to start trading on the exchange. Head to KuCoin’s Spot Trading section to find the ALGO/USDT crypto pair. Check Algorand price live, ALGO market cap, circulating supply, and 24-hour trading volume, and perform fundamental, technical, and sentiment analysis on the ALGO price action before entering a new trade in this crypto asset.

Enter the number of USDT you wish to exchange for Algorand and check the number of ALGO tokens you can receive and the trading fees you will be charged. After verifying all the information, click on Buy to confirm your trade.

5. Receive and Store ALGO Safely

It will take a few minutes after the successful execution of your trade to receive the ALGO crypto in your trading account. Once this happens, you can continue holding them on KuCoin or transfer them to an external wallet for long-term holding with greater security.

FAQ

Is Algorand a Good Investment?

Algorand (ALGO) is among the top 30 cryptocurrencies by market cap as of May 2022, making it an asset worth monitoring. One of the most promising aspects of Algorand is that it is backed by a solid team of developers and sound innovation and research. Professor Silvio Micali, Algorand’s founder, teaches computer science at MIT and is a recipient of the Turing Award.

The Proof-of-Stake blockchain was developed from the ground up, keeping in mind the need for efficiency in transaction processing and overall operations to offer reliable performance guarantees. This is why Algorand is one of the most energy-efficient blockchain networks in the world to date.

In addition, its Ethereum compatibility via the AVM makes the ecosystem even more attractive for dApp developers, offering them a low-cost and more scalable ecosystem to launch their projects on. As the ecosystem grows in the future, the value of Algorand and the ALGO price could increase further, making it an exciting asset to invest in early.

The Algorand network also offers much promise beyond DeFi and NFTs in Web 3.0. The surge in deployment of Web3 applications on its blockchain can further drive up on-chain activity on the network and raise the Algorand price, offering more reasons to consider investing in ALGO.

How High Can ALGO Price Go?

Although it is impossible to offer an accurate Algorand price prediction over any given period, ALGO promises to be one of the most versatile crypto assets in the market at present. The DeFi boom and Ethereum’s network congestion woes had driven up the allure of its ecosystem among developers, shining the spotlight on the ALGO token in 2021.

The Algorand price had surged by over 53% in 2020 but saw a remarkable increase in 2021 during the crypto markets' bull run. The ROI on ALGO exceeded 250% in the year, making it one of the best performing cryptocurrencies of 2021, powered by the booming demand for DeFi and other dApps.

Any further spikes in the Algorand price and market cap would result from a continued uptick in the adoption of its technology among developers and end-users. In addition, a positive sentiment among investors towards the broader crypto market is vital to take the ALGO price to newer highs in 2022 and beyond.

How to Stake ALGO

In addition to trading, staking cryptocurrencies offers an exciting and far safer way to generate profits from investing in this asset class. Here are the steps to follow to stake Algorand:

1. Buy Algorand tokens on leading crypto exchanges such as KuCoin, digital wallets, or DEXs.

2. Look for a crypto platform such as an exchange or DeFi app that lists ALGO for staking. On KuCoin, you can head to the KuCoin Earn section to stake your ALGO holdings conveniently and earn attractive APRs on flexible tenors.

3. If you wish to stake on other platforms, such as digital wallets or DeFi projects, you will have to transfer your ALGO to the respective platform to stake them.

4. In addition to staking ALGO, KuCoin also lets you earn attractive interest rates on Algorand via our Crypto Lending feature.

5. Head to this section to lend liquidity to the KuCoin Exchange using your ALGO crypto. Select ALGO from the list of assets, enter the amount of Algorand you wish to lend and select the duration (7 days, 14 days, or 28 days) to get details on the daily interest rate and estimated profit.

How to Transfer ALGO From an Exchange to a Wallet

The Algorand Wallet - the official wallet of the ALGO token and the blockchain, has been rebranded as Pera Wallet. As the official wallet in use within the Algorand blockchain ecosystem, Per offers additional benefits and lets you do more with your ALGO tokens.

Here’s how you can transfer your ALGO crypto from KuCoin to the official Algorand wallet, Pera:

1. Create an account with Pera Wallet if you don’t already have one.

2. Buy ALGO on KuCoin with your existing cryptocurrencies. Check the latest Algorand price, market cap, 24-hour trading volume, and news before placing a new trade in ALGO.

3. Head to the Main Account (Deposit & Withdraw) section within your KuCoin account and select the Withdraw option.

4. Select the ALGO crypto from the dropdown list on this page.

5. Add your Pera Wallet address in the following box after selecting ALGO from the list.

6. Enter the number of ALGO crypto you wish to transfer from KuCoin to Pera Wallet here and confirm the transaction details to send your Algorand tokens.

7. The multi-step verification will ensure that the transaction takes place securely.