Algorand price and where to buy ALGO

What is Algorand?

Algorand is a pure proof-of-stake blockchain designed by a team led by a cryptographer who won the Turing Award. Blocks arrive every few seconds and are final as soon as they are added: there are no forks to wait out. ALGO pays fees and secures the network; its maximum supply is 10 billion.

How to buy Algorand, step by step

1. Pick an exchange. ALGO is listed on every exchange we track. Compare fees, funding options and whether it serves your country in our exchange reviews.
2. Create and verify your account. Regulated exchanges ask for identity documents before you can deposit fiat.
3. Fund the account. A bank transfer or a stablecoin deposit usually costs far less than a card payment.
4. Buy ALGO. Use the ALGO/USDT or ALGO/USD market, and check the cheapest venue in the table above first.
5. Decide where to keep it. On the exchange is simplest, but the exchange then holds your coins. An Algorand wallet you control needs a small minimum balance in ALGO to stay open.

Where to buy Algorand at the best price

The cheapest venue right now is marked in the table above. Add its trading fee before comparing: on ALGO the venues disagree by about 0.17 percent on average, so on a small purchase the fee and the funding method usually matter more.

• The price on that venue. Each row shows the gap to our composite.
• The trading fee. Our fee comparison lists spot fees side by side.
• How you fund the account. A bank transfer or stablecoin deposit is usually far cheaper than a card payment, which often costs several percent.

Why the Algorand price differs between exchanges

In our minute-by-minute measurement the gap between the highest and lowest venue averaged about 0.17 percent, against about 0.025 percent for Bitcoin. It went above half a percent in about 13 minutes out of every thousand, and reached about 1.35 percent at its widest.

About half of the ALGO spot volume we track trades on a single venue. The spread figure at the top of this page is the live measurement; our guide on why crypto prices differ between exchanges explains the mechanism.

What moves the Algorand price

The wider crypto market, and in ALGO’s case its own news too. In our hourly composite, ALGO moved with Bitcoin at a correlation of about 0.49, where 1 would mean identical moves, and its moves were about two and a half times the size of Bitcoin’s.

ALGO-specific drivers come on top: network adoption news and leverage. The funding rates on this page show whether leveraged traders are paying to be long or short right now.

Pros and cons of Algorand

Pros

• Instant finality: a transaction cannot be reversed once it is in a block.
• Low, predictable fees.
• Listed on every exchange we track.

Cons

• One of the widest average price gaps between exchanges we track.
• Its hourly moves were about two and a half times Bitcoin’s in our data.
• It trades far below the all-time high set in its first days of trading.

Algorand’s highest price

Algorand’s all-time high was set in its first days of trading, between about $3.28 and $3.56 depending on the data source. The chart above shows the last 30 days of our composite, and the ALGO to USD converter applies the live price to any amount.