What is the current price of Algorand (ALGO)?

The current price of Algorand (ALGO) is 0.28539771645314377 AUD, representing a -0.77 from the day prior.

Can I buy Algorand (ALGO) on Coinstash?

Yes - you can easily buy and sell Algorand (ALGO) on Coinstash. Simply login or sign up, to start buying Algorand (ALGO) in minutes.

Where is the best place to buy Algorand (ALGO) in Australia?

The best place to buy Algorand (ALGO) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Algorand (ALGO) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of Algorand (ALGO)?

The trading volume of Algorand (ALGO) is 124.5M AUD in the last 24hrs, representing a -0.77 from the day prior.

How can I buy Algorand (ALGO)?

Algorand (ALGO) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of Algorand (ALGO)?

The current market cap of Algorand (ALGO) is 2.4B AUD.

Can I convert Algorand (ALGO) to cash?

Yes - With Coinstash you can convert your Algorand (ALGO) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many Algorand (ALGO) are there?

The current circulating supply of Algorand (ALGO) is 8.5B.

Is Coinstash a safe place to buy Algorand (ALGO) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Algorand (ALGO) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy Algorand (ALGO)

What is Algorand?

Algorand is a decentralised, blockchain-based network designed to support a wide range of applications with a focus on speed, security, and scalability. It uses its native cryptocurrency, ALGO, and a unique consensus algorithm known as Pure Proof of Stake (PPoS), which aims to ensure fairness and security in the transaction validation process.

How does Algorand work?

Algorand operates using a two-tiered blockchain structure that enhances transaction efficiency. The first layer manages simple transactions and asset creation, while the second layer handles more complex smart contracts and applications. Its consensus mechanism, Pure Proof of Stake (PPoS), randomly selects validators based on the amount of ALGO they hold, allowing for a decentralised and secure network without needing large stakes, thereby promoting inclusivity. Algorand’s system also incorporates Algorithmically Synchronized Randomness (ASR) to ensure secure and fair validator selection.

What are the potential use cases for Algorand?

Algorand supports a variety of use cases across multiple industries, including:

Financial Services: Enabling efficient cross-border payments and hosting stablecoins such as USDC and USDT for fast transactions.
Healthcare: Implementing secure vaccine passports and verifying medical data authenticity.
Intellectual Property Management: Managing copyrights via non-fungible tokens (NFTs) that ensure efficient rights management.
Digital Media: Powering platforms like video-on-demand services that offer gamified content access and rewards.
DeFi Applications: Facilitating lending, borrowing, and other decentralised finance activities.

What is the history of Algorand?

Algorand was founded in 2017 by Silvio Micali, an MIT professor and Turing Award winner renowned for his contributions to cryptography. The platform was designed to solve the scalability and security challenges faced by traditional blockchains. It gained significant funding and launched its mainnet in June 2019 following a public testnet earlier that year. Algorand's architecture, focused on a forkless and scalable design, has led to continuous growth and adoption within the decentralised application sphere. The Algorand Foundation oversees its ongoing development and governance, maintaining its reputation as a secure and efficient blockchain platform.