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How to buy Algorand with Bank Transfer

Why investors buy Algorand with Bank Transfer

SEPA or Single Euro Payments Area is a bank transfer payment system created by the European Union. It is a system that allows cross-border payments in Euros within the Euro-zone. European Union and neighboring country residents frequently use SEPA to send and receive payments using the funds in their bank accounts. A trustworthy framework for quick and affordable money transfers is provided by this network. A business must adhere to stringent guidelines and meet the highest security standards in order to offer SEPA wire transfers. Using SEPA bank transfers, you can buy cryptocurrency at our exchange and deposit and withdraw EUR easily. Offering payment options via bank transfer or SEPA would have the following main benefits:

  • Instant payments are one option provided by the SEPA payment system. Weekends and holidays are not excluded from the SEPA Instant transfer schedule.
  • High security because every transfer has to be cleared by several banks on its way to the exchange.
  • No deposit fees, high buying limits
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Is ALGO a good investment?

SEPA or Single Euro Payments Area is a bank transfer payment system created by the European Union. It is a system that allows cross-border payments in Euros within the Euro-zone. European Union and neighboring country residents frequently use SEPA to send and receive payments using the funds in their bank accounts. A trustworthy framework for quick and affordable money transfers is provided by this network. A business must adhere to stringent guidelines and meet the highest security standards in order to offer SEPA wire transfers. Using SEPA bank transfers, you can buy cryptocurrency at our exchange and deposit and withdraw EUR easily. Offering payment options via bank transfer or SEPA would have the following main benefits:

  • Instant payments are one option provided by the SEPA payment system. Weekends and holidays are not excluded from the SEPA Instant transfer schedule.
  • High security because every transfer has to be cleared by several banks on its way to the exchange.
  • No deposit fees, high buying limits
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Who can buy Algorand with Bank Transfer

Citizens living in a Eurozone location are able to open a bank account and use SEPA. If you are based in a non-Eurozone country, you can easily check which banks offer SEPA if you want to make this type of transfer. You can purchase any kind of cryptocurrency directly into your personal wallet without making any initial deposits by using our exchange to perform a straightforward SEPA transfer with your bank account.

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What is ALGO ?

Algorand is a quality blockchain project and it is easy to see why it has a huge audience in the crypto community. This protocol is designed for high performance and comes with fast transactions and low fees. It has a very knowledgeable team behind it, led by Micali, an MIT professor, which gives them credit. It is easy for developers to use as it supports many programming languages. There are no obvious weaknesses in Algorand. It has strong competition with a number of smart-contract blockchains. In fact, Algorand is a good choice when it comes to investing in digital currencies with growth potential.

In general, ALGO is very good in terms of fundamental analysis and volume of currency transactions. In July 2019, Algorand’s price was around the $0.56 mark. Beginning in 2021, the currency began to experience a bullish trend. A multi-year high of $1.71 was reached on February 12th, 2021, after it had been trading at a price of around $0.56 for most of January.

This increase might have had several causes. There was an increasing demand for stablecoins at the start of 2021. Stablecoins combine the stability of fiat currency with the decentralized nature of cryptocurrencies. Algorand emerged as a competitive alternative for stablecoin issuers at the beginning of 2021 because Ethereum had high gas prices. Later, El Salvador declared on August 31 that Algorand would serve as the foundation for its cryptocurrency infrastructure. At that time, the coin was trading for about $1.112. The cost quickly increased over the next few days, reaching a new post-launch record high of $2.38 on September 12, 2021. As the crypto market started to experience fluctuations in 2022, ALGO as well has experienced all-time lows. But just like in 2021, ALGO saw some recovery when file sharing software developer LimeWire chose Algorand to power its NFT marketplace. As it can be seen through ALGO’s growth pattern, important news and collaborations can greatly affect its price. On that note, FIFA announced its partnership with Algorand at the start of May, making the network the organization's official blockchain platform and source of its official blockchain-supported wallet. Some crypto market professionals predict that ALGO price in 2030 might even reach up to $4 mark. You should keep in mind that the psychology of users greatly drives the crypto market sentiments. We recommend you to do your own research and get help from experts before investing.

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How to buy ALGO with Bank Transfer instantly?

SEPA is a way to make European cross-border payments simpler, cheaper, and faster. It is one of the most cost-effective and convenient ways to transfer money within the EEA. As the ease of use and clear navigation that come with using SEPA/bank transfer as the initial payment method may appeal to users, buying cryptocurrency with SEPA is likely the best option to purchase crypto assets in Europe instantly.

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Where can I buy ALGO online with a Bank Transfer?

If you prefer simple and secure crypto trading, SEPA/bank transfer would be your ideal method. Our exchange offers SEPA/bank transfer as a payment solution to give its users more options to buy cryptocurrencies easily. You must first log into your account on Blocktrade.com in order to use SEPA/bank transfer payment on our exchange. Then, after entering the number of cryptocurrencies you need to buy and choosing to charge up your account balance using SEPA/bank transfer, finish your cryptocurrency purchase.

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Is ALGO Reliable?

For a public blockchain where all users can safely transact, hold valuable assets, and create reliable enterprise applications, security is a must-have. Algorithms in Algorand maintain protection against intrusions on the network at the level of the proof-of-stake protocol. All while, it preserves the security of each user's account.  According to Argoland’s security team, for a user to take part in the proof-of-stake protocol, their account must be active. Online users do not use their private payment methods, such as credit cards and their signing keys. Instead, a user must create and register a secret participation key. An online account may propose and confirm blocks using this key. After a predetermined number of rounds, the participation key expires and must be replaced by a new one in order to continue participation. The spending key (the keys they use to sign transactions and spend their stake) and the participation key of a user are additionally separated. Therefore, even if a user's participation keys are compromised, their stake is still secure.

It is worth mentioning that Algorandy is a decentralized open-source network that uses a two-layer architecture in order to achieve scalability, security and decentralization. Algorand’s key aim is to create full decentralization with high security and scalability while achieving 1000 transactions per second and fast block finalization.

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FAQ

Frequently asked questions

The Algorand blockchain network has benefited from global compatibility since its launch in 2019. Due to its instant transaction finalization and high TPS rate, the project has attracted the attention of governments, investors, industries and other major stakeholders in digital currencies. You can’t really deny the team’s background in technology and their expertise. This project is much closer than other projects in solving the triple problems of blockchain, i.e., scalability, security and decentralization. With the launch of the Algorand 2.0 network and its three key features: Algorand Standard Assets, Algorand Atomic Transfer, and Smart Contracts, there is more potential for locking value in the network.

Some of the greatest advantages of this payment method include: Simplified payments handling, Reduced processing costs, Reduced bank charges, Quick payments, and Easier cross-border transfers.

ALGO digital currency was created in 2019 by MIT professor Silvio Micali to solve three basic problems in cryptocurrencies, i.e., decentralization, security and scalability. Of course, the research and development of this currency has been ongoing since 2017. The Algorand whitepaper written by Mikali mentions Algorand not only as a cryptocurrency but also as a platform for smart contracts.

There are no fees associated with this method initially. But note that SEPA trades crypto by Euro fiat currency, so if you insist on trading with other currencies using this method might require extra fees. Also, there are zero exchange fees for your crypto-trading through our exchange.

Max ALGO supply is the 10 billion that was originally built. Even though the entire supply was mined at network launch, thus giving Algorand a constant supply, the supply will also increase as pre-made tokens are unlocked and distributed.

SEPA compatible areas consist of EEA (European Economic Area) countries, the United Kingdom, Switzerland, Andorra, Gibraltar, San Marino, and Vatican City.

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