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What is Algorand?

Algorand (ALGO) is working to solve the three common problems currently faced by many blockchains, which are: security, scalability, and decentralisation.

  • The Algorand blockchain is completely decentralised. This is made possible by the control being distributed among all network users within their system.
  • Algorand states that their system finalises blocks in seconds to ensure that transaction speeds are equal to some of the largest global payment networks out there.
  • Transaction finality is one of the key differences of Algorand compared to other blockchain projects. The team states that there is no chance of forking and thus no uncertainty in the system.

Algorand was founded by Silvio Micali who has won the Turing Award, which is the highest award from computer scientists. Many believe that with a leader that has proven his capability and innovation in the field, the sky’s the limit for this emerging blockchain project.

How do I swap Algorand?

Enter amount to swap
Select the quantity of Algorand you would like to swap.
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Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Algorand

Why Should I Trade ALGO with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell Algorand no matter what your trading experience is. Unlike other international and Australian Algorand exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Algorand with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Algorand how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Algorand?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Algorand for free.

Cold Storage

If you are holding Algorand as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Algorand. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Algorand. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Algorand has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Algorand is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Algorand exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Algorand & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Algorand safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Algorand portfolio here.
Yes! With CoinSpot you can convert your Algorand to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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