Algorand is a blockchain-based network that aims to solve the trilemma of achieving security, speed and decentralisation all at once. The Algorand protocol is an open-source software, aimed to fit the global blockchain technology requirements via a Proof of Stake nature. Distinguishing features of the Algorand ecosystem is fast transaction times, low costs, decentralised consensus and governance.
Algorand’s native cryptocurrency, ALGO, forms the foundation of the network structure. ALGO coin allows participants to enter the blockchain and participate in voting on the protocol, proportionate to their holdings.
The Algorand foundation was created on the vision of inclusivity, and providing the means of a borderless economy. Algorand is currently in the top 50 biggest cryptocurrencies by market cap. Sign up to the Swyftx crypto exchange to buy Algorand (ALGO) today.
If you are looking to buy Algorand (ALGO) in Australia, sign up to a registered cryptocurrency exchange like Swyftx. To create your account, provide your name, email address and phone number and create a secure password. Once your account has been created, the next step is to verify your ID. This can be done by submitting a photo of your government-issued photo ID (i.e. drivers license or passport). This typically takes no longer than 2 minutes to complete.
When your account has been verified, you can then deposit funds into your account via one of the following payment methods: debit card, POLi, PayID, bank transfer. Once the funds have successfully landed in your account, you can trade Algorand coin and other crypto assets listed on the Swyftx exchange.
Algorand was invented for the purpose of speeding up transactions speeds and efficiency. This is largely in response to the slower transactions times shown by Bitcoin, and other large blockchain projects. Algorand is designed to be a blockchain platform that focuses on near-instant transaction finality. This means processing over 1,000 transactions per second and having those transactions finalised in less than 4 seconds.
Algorand is based on a permissionless proof-of-stake (PoS) blockchain protocol, meaning that there is no mining and therefore having a less energy-intensive process.
Yes, Swyftx supports account deposits made with debit cards. In your Swyftx trading app, navigate to the deposit AUD tab and select the debit card option. You’ll then be redirected to our payment provider, Banxa, where you can transact money from your account into your Swyftx account via debit card. Swyftx also supports account deposits made via bank account transfer, POLi and PayID.
We consider account security our top priority. When users sign up to Swyftx to buy and sell Algorand and other digital assets, it’s our duty to ensure that they can comfortably trade crypto in a safe environment. We have a robust security framework with a number of advanced security features in place to ensure that our user’s funds are safe. Security features include two-factor authentication (2FA), biometric security, breached password detection, session expiry and much more.
Yes, our swap feature allows you to buy ALGO with Bitcoin and vice versa. Swap saves you the hassle of converting your Bitcoin into fiat currency first.
All units of cryptocurrency (including ALGO) is stored in digital wallets. A digital wallet allows you to send, receive and store cryptocurrencies. When you buy ALGO on the Swyftx trading platform, it will automatically be stored in the wallet that is integrated with your account. You can withdraw your ALGO and send it to an external wallet if you wish to do so.
When Swyftx users buy, sell and trade ALGO in Australia, they are getting cheaper fees and spreads than our closest competitors.
Start trading digital assets in less than 2 minutes thanks to our instant identity verification and deposits.
Swyftx secures users accounts with features such as two-factor authentication and breached password detection.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.
Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi
Automate your crypto investments.Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.
Never miss a trade or get caught out by the crypto market volatility. Set Buys and Sells to trigger at any price you want.
Easily secure your account with multi-factor authentication and biometric login. Swyftx also monitors other sites for data breaches that might result in compromises on your account.