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How to buy Algorand with Debit Card

Why investors buy Algorand with Debit Card

A debit card is a payment card that, unlike a credit card, is directly linked to the customer’s account using the money they have on deposit to pay for their purchase. Debit Card payment methods can be used to buy goods or to use services. Debit cards are accepted at millions of online stores and can be easily added to your digital wallets. Some of the main advantages of offering debit card payment services would be:

  • The user never accumulates debt by spending from the debit card because it spends from users’ owned money directly. Therefore, it can help you prevent spending beyond your budget.
  • It is safe to use against fraud.
  • Debit cards do not have an annual fee.
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Is ALGO a good investment?

A debit card is a payment card that, unlike a credit card, is directly linked to the customer’s account using the money they have on deposit to pay for their purchase. Debit Card payment methods can be used to buy goods or to use services. Debit cards are accepted at millions of online stores and can be easily added to your digital wallets. Some of the main advantages of offering debit card payment services would be:

  • The user never accumulates debt by spending from the debit card because it spends from users’ owned money directly. Therefore, it can help you prevent spending beyond your budget.
  • It is safe to use against fraud.
  • Debit cards do not have an annual fee.
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Who can buy Algorand with Debit Card

Anyone with a bank account can own a debit card and anyone with a verified debit card and an account on our exchange can enjoy our Debit Card payment service to buy cryptocurrencies. Offering cryptocurrency purchase services using debit cards means more flexible financing for our exchange users.

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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 Debit Card instantly?

The transactions paid through the Debit Card payment service are instantaneous, as Debit Card is directly linked to your cash-funded bank account. For that reason, depositing funds and withdrawing money from our exchange also happen instantly when using a debit card payment service as the funds are immediately deducted from your account.

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Where can I buy ALGO online with a Debit Card?

In order to offer more payment options for users to purchase cryptocurrencies simpler, our exchange provides Debit Card as a form of electronic payment service. To use debit card payment on our exchange, you must first log into your account on Blocktrade.com. After doing so, select the digital coin or the crypto token you want to purchase, enter the quantity of cryptocurrency you need to buy, and then choose to charge your account balance using a debit card. Your transaction will take place straight away. 

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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.

In a nutshell, we could name these advantages of Debit Card: No debt, No application or minimum credit score needed, Less fees, Identity theft protection, Fast withdraw verification

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.

Debit cards generally have no additional fees. But note, if you make a transfer from a terminal whose issuing bank is not your debit card bank, some transaction fees may be deducted from your card account. Or if you withdraw or spend an amount from this card that exceeds its balance, you will also have to pay a fee. But 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.

The bank may agree to the transaction in accordance with the conditions of your account or the policies of your debit card network, but it may also charge an overdraft fee for that transaction and any subsequent ones, up until you make a sufficient deposit.

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