Buy Algorand

• Algorand has set new benchmarks for speed, security & reliability in DApps. It can handle over 1000 transactions every second with a transaction completion time of under 5 seconds.
• All Algo token holders are distributed the block rewards, not just block producers.
• Reward distribution is initiated every 10 minutes with an average annual yield (till date) of 7.5%.
• It boasts an extensive list of use cases with applications in finance, real estate, copyrighting, etc., and is trusted by Tether, Circle, IDEX, Republic, and Meld Gold, among others.
• It is founded by Silvio Micali, a Turing award winner & backed by Genesis Global Capital LLC and Arrington Capital, among other investors.

Algo is the native crypto token for Algorand, which is a blockchain network primarily designed for developers to develop, deploy & operate cryptocurrency fuelled applications. Its USP is that it requires minimum computational power and no permissions to join. That means, if you are online and hold algo tokens, you automatically are eligible to participate in block consensus based on PoS principles.

• Used by 700+ companies around the globe, it is a promising long-term investment, already blessed with liquidity & cash inflows.
• It has a low transaction fee of $0.001 per transaction. However, algo tokens that end up in a fee sink can only be sent as participation rewards. Besides, the Algorand Foundation did not comment on its plan on how to maintain such low fees.

• ALGO has a limited lifetime supply of 10 Billion coins with a hard cap of 3 Bn. Supply in the first 5 years. It auctioned 25 million coins in its 2019 ICO for $2.4 each. Currently, it has only 12.5% coins in circulation.

Tags

FAQ's

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.