🪙 What is Algorand and ALGO?
Algorand is a blockchain platform that was created to solve some of the biggest issues facing decentralized networks, such as scalability and security. It was founded in 2017 by Silvio Micali, a Turing Award-winning computer scientist and professor at the Massachusetts Institute of Technology (MIT).
One of the unique features of Algorand is its consensus mechanism, which is known as Pure Proof-of-Stake (PPoS). Unlike traditional Proof-of-Stake systems, which rely on a smaller set of validators to confirm transactions, Algorand's PPoS allows for all token holders to participate in the consensus process. This ensures that the network is both secure and decentralized.
ALGO is the native cryptocurrency of the Algorand blockchain. It is used for transaction fees, smart contract execution, and as a store of value. Learn more
📥 How to Deposit ALGO Into Your Coinmetro Account
For all information on how to deposit ALGO into your Coinmetro account, please see the following help center article:
✅ Supported networks on Coinmetro: Algorand
📤 How to Withdraw ALGO From Your Coinmetro Account
For all information on how to withdraw ALGO from your Coinmetro account, please see the following help center article:
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
💸 How to Buy ALGO on Coinmetro
For all information on how to buy ALGO on Coinmetro, please see the following Help Center article:
FAQs
🕒 How long does it take for an ALGO deposit or withdrawal to arrive?
ALGO deposits and withdrawals are usually near-instant but may take a few minutes. 2 blockchain confirmations are required for the transaction to be successful. If your deposit or withdrawal is still pending after this timeframe, please get in touch with our customer support team.
🔎 Where can I track the status of my ALGO deposit or withdrawal?
The status of your ALGO transaction can be found directly on the Algorand explorer here: AlgoExplorer
💸 What are the fees to deposit or withdraw ALGO?
Deposit fee: There are no fees to deposit ALGO into your Coinmetro account.
Withdrawal fee: The current fee to withdraw ALGO is 2 ALGO.
💰 What are the fees to buy or sell ALGO?
Fees may vary depending on your Level and which trading platform you are using. You can find all information on our trading fees here: What Are the Fees on Coinmetro?