How to buy Algorand with CAD in Canada

If you want to buy Algorand but don`t know how to start, you`ve come to the right place.

Here you will find our easy-to-follow step-by-step guide on how to buy Algorand in Canada with CAD.

ALGO / CAD exchange rate for today

Buy Now

Table of Contents

The Benefits of Algorand

  • Algorand originally envisioned not just as a cryptocurrency but something that could track things like titles to property and their sale, and a platform for smart contracts.
  • One thing that makes Algorand unique is its use of pure-proof-of-stake. This is unlike proof of work where computers solve math problems to generate new blocks and confirm transactions.
  • Algorand is a cryptocurrency that could soon challenge Ethereum’s status as one of the biggest and most significant altcoins.

Algorand price chart (ALGO / CAD)

Step 1: Register with a cryptocurrency exchange

To participate in the world of crypto-trading, you first need to sign up with a cryptocurrency exchange. These platforms are where you can buy, sell, and hold cryptocurrency.

There are plenty of cryptocurrency scams out there, so be sure to buy and sell on a reputable exchange.

Binance is one of the best places to buy Algorand, especially if you live in the Canada. Registration is quick and simple, and the ALGO is very easy to buy with CAD.

Why is Binance the best?

  • Low transactions fees of 0.1% and below
  • 25% on trading fees paid with the BNB token
  • Binance is available all over the world
  • Supports a wide selection of over 500+ crypto assets
  • Over 50+ fiat currencies supported
  • Binance staking allows users to earn rewards on their crypto holdings
  • More trading options, including spot trading, margin trading, P2P, and futures trading
  • NFT marketplace to buy and sell NFTs
  • Different trading interfaces to accommodate every users’ trading experience
  • The Binance mobile app enables users to access their accounts and trade on the go
  • Binance Visa Card to spend your crypto hassle-free
  • The Binance Trust Wallet supports 53 blockchains and 1M+ assets.

Unfortunately, Binance is not available in the United States, and Americans can only trade on Binance.US, a Binance version that’s compatible with U.S. regulation.

How to Register on Binance

Firstly, click on the button below to register with Binance, it’s free and easy

Sign up on Binance

To get started, just enter your email address, create a password for your account and click [Create Account].

Your password should be a combination of numbers and letters. It should contain at least 8 characters, 1 upper case letter and 1 number for security.

For security verification, drag the puzzle piece to the right until it fits into its slot.

A 6-digit code will be sent to you via email. Enter it in the next screen.

Finally, you will reach the Welcome to Binance screen. This screen will outline some of the core features.

Step 2: Verify Your Account

Verification is a process used by exchanges to establish the identity of customers. It is necessary for any kind of financial transaction, especially those with higher levels of security or legitimacy. Any user who wants to trade crypto on exchanges must go through verification.

For new users, you may click [Get verified] on the homepage directly.

Click [Start Now] to verify your account.

Select your country (In your case Canada) of residence. You will then see the list of verification requirements for your country. Click [Continue].

Enter your personal information and click [Continue].

Next, you will need to upload pictures of your ID documents. Most users can choose to verify with a passport, ID card, or driver’s license.

After uploading the document photos, the system will ask for a selfie. Click [Upload File] to upload an existing photo from your computer.

After that, the system will ask you to complete face verification. Click [Continue] to finish face verification on your computer.

After you complete the process, please wait for Binance to review your data promptly. Once your application has been verified, Binance will send you an email notification.

Cryptocurrencies and blockchain continue to be favored targets for criminal activity. The ability to make anonymous transactions can allow criminals to engage in financial transactions with more impunity. KYC protocols and identity verification is an essential element for policing the market and protecting crypto investors from theft.

Step 3: Fund Your Account and buy Algorand

To invest in Algorand, you’ll need to deposit some money into your account.

Log in to your account, head over to the “Buy Crypto” section on the Binance toolbar, and choose the “Credit/Debit Card” option.

Select Algorand and enter your order amount. The total price with fees will be calculated in the second bar.

After that, you will be prompted to enter your card details and after confirmation, you will finally buy your first Algorand. Usually, it will take between 10 and 30 minutes for the crypto to appear in your Binance account.

How to Save 40% on Fees When Buying Algorand

One way you can lower your trading fee is by keeping some Binance Coin in your account at all times so your fees can be taken from that. Doing this gets you 25% off all trading fees.

Also, don`t forget to use our unique registration link and get a 15% discount on fees on Binance.

In total, you get a 40% discount on all transaction fees!

Alternative ways to buy Algorand

If you were unable to buy Algorand on the exchange using CAD, you can buy it using another cryptocurrency, such as Bitcoin. You can always buy BTC for the first time using platforms such as LocalBitcoins, then transfer your BTC to a Binance to buy Algorand. In this case, you can further reduce costs.

Below are a few of the sellers in the Canada who sell bitcoins with CAD.

SellerPayment method Information
Showkess28INTERACCanada e-transfer Open the trade if you are ready to buy Text me if you can’t open a trade. Telegram:@showk_crt WhatsApp: +17087408927
carlcomputer2012ALTCOIN_LTCFast! If you prefer to transfer your Litecoin into Bitcoin in an anonymous way, this is the way. [ You Send LTC to me, then I release my BTC to you] Open a new trade, and I will give my Ltc address to you. 1- Please send the exact amount 2- It will be released after a network confirmation 3- Payment must be sent in one transaction (if below 10 Ltc). Quick and safe! Pls txt or WhatsApp me @ 647-947-6190 if no response in 5 mins, thanks
DIBGOTDAHEATPAYPAL!!!PLEASE READ BEFORE OPENING TRADE!!! FROM PAYPAL BALANCE ONLY(FAMILY AND FRIENDS ONLY)!!! IF THIS IS YOU FIRST TRANSACTION ON THIS PLATFORM 1. Attach government issued photo ID with name matching PayPal account(front and back). 2. Attach Screenshot of paypal balance. 3. Attach screenshot of yourself holding your photo ID and a note stating: i. Today’s Date ii. Your FullName iii. Amount you are paying IF THIS IS YOU FIRST TRANSACTION WITH ME 1. Attach government issued photo ID with name matching PayPal account(front and back). 2. Attach Screenshot of paypal balance. If you will like to use xoom for a much better rate use this link: https://localbitcoins.com/ad/1384075/purchase-bitcoin-paypal-canada once you open trade paste "I will like to use Xoom" if you would transferwise for best rate use this link: https://localbitcoins.com/ad/1390909/purchase-bitcoin-transferwise-canada once you open trade paste "I will like to use transferwise"
FrankmaioneINTERACHi there! This is a more expensive ad for persons looking to purchase less than $100. If you are buying $100 or more, please use this one to get a better rate: https://localbitcoins.com/ad/996355/purchase-bitcoin-interac-e-transfer-canada I verify the identity of everyone on the first trade. You generally won't need to verify your ID again, although there are certain circumstances where this may be required. **the bank account NEEDS to match your verified name here and ID provided** you need to be 18 years of age Canadian residents only!! First time trading with me? You need to be physically in Canada, and $3,000 or less please. We may require further information/documents from you in order to comply with Anti Money Laundering legislation either during onboarding or at a later point in our relationship. This trade is fully automated with support available from 8am to 8pm EST, 7 days a week. There are automated responses by a chatbot. The CRA and government don’t accept payment in Bitcoin - if you think you are paying them, you are being scammed. If you got overpaid by a company and are returning the payment in Bitcoin, you are being scammed. Got a great job offer or Kijiji deal that needs a bitcoin deposit - scam. Be careful out there, bitcoin is 100% irreversible. Be careful of investments plans offering high return on investment - they’re mostly scams.
simkanuCREDITCARD-No Verification required Easy and simple trade ( 5-10min ) -I accept CREDIT OR DEBIT CARDS (VISA, MASTER CARD) -I recieve payments via trusted payment platforms -open trade ONLY if you are ready to trade -Do not mark payment complete before you send payment -I accept CREDIT OR DEBIT CARDS (VISA, MASTER CARD) and also payment from Bank -I receive payments via these payment platforms: > Sendwave (App) > Worldremit (Web platform and App) > Remitly (Web platform and App) > Paysend (Web platform and App) > Transferwise/Wise (Web and App) (Among others) I will advise on the best platform in terms of speed of delivery, reliability and availability in time of trade/transaction -It takes a few minutes to register and be ready to send cash instantly on these apps/platforms - Download Sendwave App or Taptap send app from App store for IOS or Playstore for Android -Check out the sites here - https://www.sendwave.com/ (only for debit cards) - https://www.taptapsend.com/ (Credit and debit cards) ***Online Web platforms (but also have apps)** - https://www.remitly.com/ (Credit and debit cards) - https://www.worldremit.com/en (Credit and debit cards) - https://paysend.com/ (Credit and debit cards) - https://wise.com/ (Credit and debit cards) ####ATTENTION TO SCAMMERS WHO WANT TO SCAM ME, I HAVE DONE THIS BUSINESS FOR OVER 7 YEARS, SO DON'T WASTE YOUR TIME#### For more information reach me via WhatsApp on +254724634424

If you liked the article, please rate below

4.9/5 - (64 votes)

Default image
Joseph Smith

CEO CoinStudy.io