In this guide we will explain how to buy Algorand (ALGO) in 4 simple steps. By following this guide you will own Algorand within minutes by buying Bitcoins and exchanging them for Algorand (ALGO).
Step 1: Sign up on the exchange
To be able to get your hands on Algorand (ALGO) you have to sign up for a cryptocurrency exchange, in this guide we wil use Binance. If you sign up using this link you will get a discount on the fees you have to pay when trading.
Step 2: Get your Bitcoin wallet address
After signing up and logging in to Binance you will have to navigate to Funds > Deposits Withdrawals in the navigation bar on the top of your screen. When you are on the Deposits & Withdrawals screen use the search bar to search for Bitcoin. Click on the Deposit button on the right side of the table. Now you can copy the BTC Deposit address, you will need this address in the next step.
Step 3: Buying Bitcoin and sending them to your Binance wallet
Now you have to buy Bitcoins and send them to your Binance wallet. We recommend the three websites below. If you already own Bitcoins that you want to use then you can skip this step and send them to the address you have just copied from Binance.
If you want to buy Bitcoins using a creditcard or bank transfer and also want to store some Bitcoin in their online wallet Coinbase is a good option. On Coinbase you can also buy Ether (ETH), BitcoinCash (BCH) and LiteCoin (LTC) which you can store online in your Coinbase wallet.
If you want to buy Bitcoins using European payment methods like iDEAL, Bancontact / Mistercash, Giropay, Mybank, SEPA and Sofort and send them directly to your Bitcoin wallet address, then AnyCoinDirect is a good option. On AnyCoinDirect you can also buy a lot of other cryptocurrencies, for example Ether (ETH), Monero (XMR), Stratis (STRAT), NEO (NEO), LiteCoin (LTC), Dash (DASH) and Zcash (ZEC).
When using one of these websites make sure you copy the correct Bitcoin wallet address from your Binance account so that your Bitcoins will arrive in the correct wallet.
Step 4: Converting your Bitcoins into Algorand (ALGO)
Now that your Bitcoins are in your Binance wallet (it could take some time for the transaction to be completed), you can exchange them for Algorand (ALGO). When logged in to Binance you can navigate to the exchange view by clicking on Exchange > Basic in the navigation bar. On the right side of the screen search for ALGO in the currency pairs and click on ALGO/BTC. Now in the center of the screen at the Buy ALGO section you can place your order to exchange your Bitcoins into ALGO. On the left side you can see the current price that a ALGO is worth. Fill in the price you want to pay and the amount you want to buy and click the Buy ALGO button. You could also click on the Market tab and pay the current market price when purchasing. As soon as your order is filled you will own Algorand (ALGO). Congratulations!