Algorand (ALGO) is a completely decentralised, secure and scalable blockchain that offers a shared platform for creating products and services.
The ALGO cryptocurrency is the Algorand blockchain's native token. Its primary advantage is that Algorand's technology uses a special compression algorithm on the Vault blockchain to instantly finalise a transaction, which also serves to prevent the creation of forks.
This allows transfers to be approved in less than five seconds, while Algorand's scalability allows for 1,000 transactions per second to be processed, which significantly exceeds the speed of other smart contract blockchain platforms.
The computation used doesn't change as the network grows, so transaction fees remain minimal no matter how many customers use the network.
ALGO's capitalisation at the beginning of April 2021 was over $3.5 billion.
ALGO tokens started trading on 14 August 2019. In just Q1 2021, ALGOUSD increased more than four times in value!
ALGOUSD's average intraday volatility in 2020 was 9.8%.
Its developers announced a significant and fundamental protocol update that is very likely to boost Algorand's popularity in the future. However, its high inflation may scare off investors since the target number of coins in circulation is 10 billion.
How to buy and sell ALGOUSD
You can buy and sell ALGOUSD on specialised cryptocurrency exchanges, but the best way to trade it is through a broker or trading platforms, such as MetaTrader 4 or Libertex, where you can open and close positions much more easily, trade with leverage and even earn if the coin's value goes down.