An exchange is a place where you obtain your Algorand. The service they
basically a marketplace where you dial in at what price you want to
and once the amount is reached at the price, the Algorands are yours.
that keeping the Algorands on the exchange is dangerous due to the
risk of hacks
and moving them to a more secure wallet is of utmost importance. Try to avoid any
exchanges with a warning. Doing thorough research will take you further, as the
chances of getting scammed on the internet keep increasing. Here are 3 top exchanges
that trade Algorand in order according to their ratings:
The easiest and most reliable way to obtain Algorands is to buy them at
through ATMs (yes there are ATMs offering Algorands).
As with any trading, it is important to choose the exchange wisely to minimize the
risks connected with trading. Here’s a list of the most
Cryptocurrency ATMs can be found all over. There are about 3,5k in use around the
globe and the number is gradually rising. Almost 40% of the world ATMs are two-way,
which means you can both buy and sell Algorands using them.
Peer-to-peer exchanges allow cryptocurrency users trade coins among themselves
without the service of a regular exchange which comes at a percentage from the
transaction. Unlike regular exchanges which match sell or buy orders and
automatically proceed these orders, p2p exchanges match the seller with the buyer so
they can finalize the transaction on their own. This cuts out the middle man and
Local exchanges like LocalBitcoin have a different approach to crypto trading. You
can search through their service for a person that is selling the same or close
amount of the desired cryptocurrency and meet in person for exchange of crypto for
cash. These websites also provide online communication and payment (paypal).
There are many criteria on which exchanges are rated. Usually a customer looks for
the best user interface and lowest commission on transactions. This can be a good
way for finding an exchange that will best fit your likings but also remember to
research enough information across the web for any alerts of fraud or security
problems on the exchange. Making a deposit on an exchange can be done via a credit
card (usually with a higher commission), bank transfer, paypal or you can deposit a
certain cryptocurrency like Bitcoin or Ethereum for buying any altcoin. Also, most
exchanges don’t support all the cryptocurrencies so remember to navigate the search
with the Algorand keyword. Our top picks would be Kraken, one of the
oldest exchanges great for big buys, but harder to understand for beginners,
Bittrex, now launching a new user interface, this exchange offers a good amount of
cryptocurrencies and is a favorite pick of big and small investors, Coinbase, the
top pick for crypto beginners as Coinbase offers an intuitive interface and card
payments available from almost the whole world, and finally CEX.IO, a service great
for novices in the market with an easy-to-use interface and good reputation.