How to buy Algorand in Canada

Bitbuy makes it easy for Canadians to buy Algorand in Canada

Buy Algorand Cryptocurrency

Algorand Blockchain is an open-source software company working towards constructing a borderless economy. The company created a Pure Proof-of-Stake protocol with open participation, scalability, security and transaction finality. Algorand aims to solve the three main problems faced by blockchains today, called the blockchain trilemma of: security, scalability, and decentralization.

Blocks are built into 2 phases in Algorand. These blocks are built through lotteries known as “cryptographic sortition” which allow fast transactions and ensure that the time of waiting 30+ days for transactions to be completed are truly behind us.

The first stage is the Proposal Phase: A single token is chosen, and the owner proposes the following block. This proposer is only identifiable to the whole network during the propagation phase: it is already too late to interfere. In Pure PoS every token has the same power to be chosen.  

Voting Round: a board of owners of 1,000 random tokens are selected, approving the new blocks proposed by the first user. In contrast to the fixed committee system in various Proof-of-stake or Proof-of-work blockchains, this random selection of the committee members makes the protocol extremely secure against outside party attacks as hackers are unsure of what creators to target.  

There is a total supply of 5.54 billion Algorand tokens with approximately 3.06 billion in circulation currently.  

Algorand was founded by MIT computer science professor, Silvio Micali, in 2017. He is famous for his fundamental contributions to the theory and practice of secure two-party computation, digital currency, cryptocurrency and blockchain protocols. Micali has been renowned as one of the most innovative thinkers in the cryptocurrency realm.  

How to Buy Algorand Cryptocurrency

Eager to buy Algorand but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Algorand from. Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.  

How to Invest in Algorand in Canada

Investors can easily invest in Algorand by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying  Algorand directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is always here. Our customer support team will ensure your investment journey is smooth sailing throughout.

How to buy Algorand in Canada

Buying Algorand in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:

  1. Create Your Account: When you sign up to create an account on Bitbuy, you will be asked to confirm your email address, phone number, and verify your identity.

  1. Add Funds: Before you can buy Algorand in Canada, add funds to your account directly with Interac e-Transfer or bank wire. 

  1. Buy and Sell ALGO: Once you have sent money to your account, you can buy ALGO instantly.  Bitbuy also makes it easy to sell ALGO in Canada. Exchange your ALGO for CAD and withdraw the funds back into your bank account.

If at any point you need help signing up, verifying your account, adding funds, or buying and selling Algorand, just contact customer support  for same-day assistance.

Where to buy Algorand  in Canada

Bitbuy is one of the best and most secure places to buy Algorand  in Canada. Here is why:

Safe and Secure 

Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 95% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy,  it is crucial users know that their digital assets are is safe with us.  

The Lowest Fees 

Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Algorand.

Award-winning Customer Support 

Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient. 

We pride ourselves in our exceptional  customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.

Easy Funding 

Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy Algorand with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy Algorand in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you can then use to buy and sell cryptocurrencies in Canada.

Algorand  Wallet

Looking for a place to store your ALGO?  Bitbuy is the perfect place to start. Bitbuy has built a built-in wallet in each user’s accounts that you can use to store your Algorand safe and securely.

Where to trade Algorand

Website (instructions for the mobile app below)

1) Navigate to the 'Express Trade' section of your account

When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To institute the trade, click the 'Sell' button which will appear in red.  

2) Select ALGO as the Cryptocurrency you wish to sell

Click the drop-down and search ALGO to begin the sale.  

3) Complete your sale

Enter the amount of ALGO that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.

Mobile App

1) Navigate to the 'Accounts' section of your account

Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.  

2) Locate the cryptocurrency you want to sell  

Locate ALGO and click on the 'Sell' button.  

3) Complete your sale

Enter the amount of ALGO you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!

How to buy Algorand in Canada

1
Create an account
Provide some basic details about yourself and get instantly verified
2
Fund your account
Fund instantly using Interac e-Transfer®
3
Buy Algorand
One click, and you're done

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About Bitbuy

Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.

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