How to Buy Algorand Australia – Buy Algorand In Under 5 Minutes

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Want to learn how to buy cryptocurrency Algorand (ALGO) in Australia? With its Pure Proof of Stake (PPoS) protocol, Algorand is tipped as a possible ‘Ethereum Killer’ when it comes to blockchain provision. The price of Algorand has risen by 450% since the beginning of 2021.

Read on for a quick four-step strategy on how and where to buy Algorand – plus a thorough review of this eco-friendly and progressive cryptocurrency.

Buy Algorand at eToro – #1 Broker

Mobile AppYes
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly

How to Buy Algorand Australia – Quick Four-Step Strategy

With global broker eToro, it takes Australian clients just four easy steps to purchase Algorand:

  • Step 1: Open an eToro account: go to the eToro website. Click ‘Join Now’.
  • Step 2: Upload ID: ID verification is a standard requirement to use any reputable crypto broker. eToro makes it easy by scanning your proof of address (POA) and proof of identity (POI) for you.
  • Step 3: Deposit funds in your account: for Australian clients, eToro offers PayPal, bank transfer via POLi, or credit/debit card as deposit options.
  • Step 4: Purchase Algorand: navigate to Algorand swiftly by using the eToro search bar and place your order by pressing the ‘Trade’ button.

Why Buy Algorand Australia?

Algorand is a blockchain provider that is designed to offer faster transaction times than first-generation blockchain providers like Bitcoin and Ethereum. Algorand offers Pure Proof-of-Stake (PPoS) authentication rather than Proof-of-Work (PoW) authentication. This means that transactions are confirmed without the need for randomly selected validators (blockchain miners). PPoS authentication massively reduces the amount of computing power necessary to execute transactions, which makes Algorand eco-friendly as well as fast.

Where to Buy Algorand Australia

You can either buy Algorand from a broker or from an exchange. Exchanges offer lower trading fees, in general – but also less regulation. Buying Algorand with a broker is the safer route, and more suitable for beginner investors.

1. eToro – Overall Best Way to Buy Algorand Australia

Look no further than global broker eToro to purchase your Algorand from Australia. With 20 million users, eToro has earned a well-deserved reputation as one of the easiest and safest ways to buy crypto. 2.3% of Etoro users have taken a position on Algorand, with 100% opting to go long rather than short. Over 160,000 eToro users follow Algorand on the eToro system.

eToro accepts payments in Australian dollars (AUD). Once you have your account verified, you will be able to buy Algorand instantly. Investors speak highly of eToro’s simple user interface, transparent fee structure and a wide choice of crypto. There are stocks, commodities, ETFs and indices to invest in too. What’s more, eToro’s proprietary CopyTrader system wipes the floor with the opposition when it comes to allowing investors to copy more experienced investors free of charge (including crypto investors). In a couple of clicks, CopyTrader allows you to set stop losses and let the software match, in real-time, the trading decisions of investors with proven track records.

The only trading fee that eToro charges come in the form of the spread between buying and selling price. Non-trading fees include a small currency conversion charge when depositing or withdrawing AUD, as well as a flat withdrawal fee of $5 USD.

With eToro, you can rely on the following benefits when you buy Algorand:

  • The only trading fee is the spread between buying and selling price.
  • For any crypto trade, you will require a minimum of only $25 USD (approximately 35 Australian dollars).
  • You will not need a crypto wallet to hold your Algorand.
  • Zero overnight fees.

eToro — Algorand Fees

The eToro ‘spread fee’ is the only fee that will apply when you buy or sell Algorand. How does eToro’s spread fee work? To clarify, the spread fee is not a levy on the spread between the Algorand buying and selling price offered by eToro. Instead, the fee is the spread itself. eToro indicates this fee as a percentage of the buying price.

Spreads are well-established in the money markets as a way that the broker, or market-maker, can cover their costs. Spreads are sometimes referred to as ‘bid/ask’ spreads. ‘Bid’ is the price the broker will give you when selling the asset. ‘Ask’ is the price you will be offered when you buy the asset. The spread between the two is the ‘bid/ask’ spread.

To keep things simple, eToro does not use the terms ‘bid’ or ‘ask’. When you trade Algorand, you will be presented with a ‘buy’ price and a ‘sell’ price. Then you can press the appropriate button, input the relevant quantities, and execute the trade.

So eToro’s trading fee structure for trading Algorand can be summarised as:

  1. The spread between offered buying and selling price is referred to as the ‘spread fee’.
  2. This spread fee is shown as a percentage of the buying price.
  3. The spread fee is not levied as an extra fee but is the natural result of buying Algorand at slightly over listed price and selling at slightly under list price.

Spread fees are common with other brokers. eToro has attracted such popularity as a broker because it does not supplement the spread fee with a commission fee based on the size of your Algorand transaction. Other brokers may do so.

Generally, with spreads, the size of the spread depends on how much an asset is traded in the market. Another way of saying this is to observe that the more liquid a crypto is, the narrower the spread. A narrow spread means, effectively, less spread fee.

So for cryptos with massive trading volumes, eToro offers a low spread percentage. Market-topper Bitcoin (BTC), for example – which occupies over 40% of the entire crypto market – attracts a small spread fee of 0.75%. On Ethereum (ETH) – boasting a 20% share of the market – the spread fee is 1.9%. The same fee applies to Litecoin (LTC) and Bitcoin Cash (BCH).

For Algorand (ALGO), eToro charges a spread fee of 3.9%. This fee is quite common for eToro cryptocurrencies and applies, for example, to DeFi cryptos Compound (COMP), Chainlink (LINK) and Aave (AAVE). Higher spread fees of up to 5% are charged on other cryptos.

eToro Spread Fee on Algorand – Example

Your initial investment: $300 USD
Sample Algorand ask (buy) price: $3 USD
Your position size: 100 Algorand units
eToro typical spread for Algorand: 3.9%
Total spread fee for round trip of Algorand buy and sell: = 3.9% (spread fee) * $3 USD (Algorand buy price) * 100 (your position size) = $11.7 USD.


Note that, if the liquidity of an asset changes dramatically, spread fees can fluctuate over time. This applies to all brokers, not just to eToro.


  • There are no eToro crypto trading fees apart from the spread fee.
  • You can buy and sell Algorand with a couple of clicks.
  • Free of charge, you can take advantage of a virtual demo account worth $100,000 USD and practice trading Algorand risk-free.
  • eToro offers 32+ cryptos to choose from, as well as a wide selection of other assets including stocks, bonds, ETFs, commodities and indices.
  • eToro’s CopyTrader facility allows for free automatic copying of other traders.
  • Great educational support in the form of articles, films and FAQs.


  • eToro does offer a crypto-wallet that supports 120 cryptos, but this does not yet support Algorand.
  • A flat withdrawal fee of $5 USD applies to your eToro balance.
  • Although eToro accepts Australian dollars, trading is denominated in USD/EUR/GBP.

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. — Use Debit Card To Buy Algorand Swiftly From Australia

Buy MANA at Coinbase

If you are based in Australia and have a debit card, you can use the US exchange Coinbase to buy Algorand. Expect a 3.99% fee on all debit card transactions, whichever crypto you might choose to purchase. With Coinbase, debit card is the only form of payment admissible to Australian-based investors.

Since it came onto the scene in 2012, Coinbase has attracted an impressive user-base of 56 million investors. Coinbase is the biggest crypto exchange in the US. As a result of high daily trade volume, it offers good liquidity. The selection of available cryptos has been growing. You can now choose from over 100 coins – including Algorand.

Coinbase uses a spread system for buying and selling just like eToro. But, for its global user-base, Coinbase uses a system of flat and variable trading fees. Which fees apply depends on the country of origin of the investor, the amount of the transaction, and the means of payment. You will be shown which fees apply prior to executing your trade.

As an Australian investor, you will be charged a 3.99% levy on your Coinbase debit card purchase. Expect on top a trading fee of at least 0.5% on your transaction. But rest assured that you will be shown all applicable fees prior to executing your trade.


  • Simple user interface designed for beginners.
  • 100+ cryptos to choose from.
  • Excellent educational support.
  • Mobile app available.
  • Coinbase Pro available for more advanced investing.


  • Debit card purchase only for Australia-based traders.
  • Currently no means of withdrawing Australian dollars from your Coinbase account.

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Kraken – Australian-friendly Exchange Offering Algorand

Kraken is a California-based crypto exchange that allows Australians to buy Algorand with AUD. You can deposit AUD into Kraken using PayID/Osko. As a result of its acquisition of long-standing Australian crypto exchange Bit Trade in January 2020, Kraken has entered the Australian crypto consumer market.

With Kraken, you can buy Algorand using other crypto by entering a few personal details. But to buy Algorand with fiat currency (ie. AUD) you will need to undergo Kraken’s full verification process.

Like, Kraken offers a fee structure based on the volume of your trades in the last 30 days. Heavy trading leads to lighter fees. As a new investor to Kraken, expect a minimum fee of 0.26% on the price of your Algorand acquisition.

(As with any crypto exchange, it is not advisable to store cryptos in the Kraken exchange itself, but rather use your own crypto wallet).


  • 91 cryptos to choose from, including Algorand.
  • Regulation: under the Australian Transaction Reports and Analysis Centre (AUSTRAC).
  • Offers crypto-cross and fiat-to-crypto pairs.
  • Offers margin trading.
  • Allows Australians to invest in cryptos using their Self-Managed Super Funds.


  • Higher fees than
  • Advisable to store your Algorand in a personal crypto wallet.
  • As an exchange, Kraken is not as highly-regulated as brokers.

67% of all retail investor accounts lose money when trading CFDs with this provider.

4. — Huge Crypto Exchange To Buy Algorand Australia

Binance Homepage

Offering Algorand as well as 500 other cryptos to invest in, is the world’s biggest cryptocurrency exchange. Over $100 billion USD crypto is traded every day. There are plenty of products and options suitable for the advanced trader, but the system can be a little overwhelming at first for beginner investors. also put a heavy emphasis on crypto pair trading, which is a market-neutral strategy not suitable for beginners. Help pages dedicated to Australian clients are available.

The good news for Australian investors is that you can use PayID to fund your account with Australian Dollars (AUD). You can also withdraw your AUD using PayID. With your AUD balance, you can buy your Algorand. And you can also purchase Algorand direct with your credit/debit card. further allows you to purchase cryptocurrencies by using your owned cryptos as payment. offers a tiered fee structure. The fee for each of your transactions is based on your 30-day trading volume with and other factors, including whether you hold the exchange’s own crypto BNB in your wallet. As a new trader, expect to pay 0.1% on the value of any trade.

Note that is not a broker but an exchange. Despite it recently bringing in KYC (Know Your Customer) measures, this means that your money is more at risk than with a regulated broker.


  • The largest global crypto exchange.
  • 500+ cryptos to invest in.
  • Australian-friendly (takes AUD).
  • Great reputation for low (if complicated) fees.


  • Regulatory issues: is currently under pressure from authorities in the USA and Thailand.
  • Powerful user interface can be intimidating.
  • Poor reviews on Trustpilot regarding new KYC verification procedure.

67% of all retail investor accounts lose money when trading CFDs with this provider.

5. – Buy Algorand Australia Via Mobile is a crypto exchange with 5 million users worldwide, and provides access to a market of 90+ cryptos including Algorand. It also offers its own Visa card which you can use to spend crypto holdings – although this works best if you hold’s own coin CRO. What’s more, you can earn financial interest on your crypto holdings – with loaning them out to other investors. secured an Australian Financial Service License (AFSL) in 2020. Australian investors can make deposits and withdrawals from their bank using NPAY and BPP.


  • Good choice of crypto.
  • Visa card with which you can spend your crypto holdings.
  • You can earn interest on your crypto holdings.


  • High trading fees for low-volume traders.
  • Many perks are only worth having if you have high holdings in’s coin CRO.

67% of all retail investor accounts lose money when trading CFDs with this provider.

Buy Algorand in Australia – eToro Guide

Take just four steps to buy your Algorand from Australia:

Step 1: Sign Up

Open an Online Trading Account

Enter a username, your email and a password. Tick the two acknowledgement boxes. Press the ‘Create Account’ button.

Step 2: Verify Your Account & Upload Your ID

eToro verify

Both Proof of Identity (POI) and Proof of Address (POA) are required by eToro. You can provide scans yourself, or the software will scan the relevant documents for you via the cam on your computer device. Your documents will then be checked by the eToro verification team.

Step 3: Deposit Funds

To make your first Algorand purchase, you need a minimum of $25 USD (approximately $35 AUD). eToro stipulates that first you must make a minimum first deposit of $50 USD (approximately $70 AUD).

etoro bank account

eToro accepts Australian dollars (AUD) as a deposit currency. To deposit, enter your eToro account and click on the blue ‘Deposit funds’ button at the bottom left of your screen. In the top box, enter the desired amount and type of currency (AUD). Trade on eToro is denominated in USD and you will see the exchange rate offered from your AUD in the ‘Amount’ box. Then use the pull-down menu below to select your payment option. In Australia, eToro accepts credit/debit cards, PayPal, Skrill, bank transfers and Neteller.

Step 4: Search for Algorand & Buy

invest in algorand etoro

In eToro, enter ‘Algorand’ in the top search bar. Then select ‘ALGO’ as it comes up, highlighted in blue. This will take you to the Algorand page. Press the blue ‘Trade’ button on the right to access buying options. Enter the desired amount (denominated in USD) and press the ‘Open Trade’ button below to buy your ALGO.

invest in algorand

Algorand Price Analysis: Should I Buy Algorand?

Algorand has pedigree. The Algorand blockchain concept was invented by Turing Prize winner Professor Silvio Micali of the Massachusetts Institute of Technology in 2012.

The price of Algorand’s tradeable crypto – ALGO – will always reflect market sentiment about the blockchain’s Pure Proof-of-Stake (PPoS) authentication. This is considered to be the bright future for DeFi transactions, and certainly quicker in operation than the Proof-of-Work (PoW) authentication process offered by Bitcoin (BTC) and Ethereum. (Ethereum 2.0 is set to embrace Proof-of-Stake authentication.)

The Algorand blockchain is therefore fast attracting clients looking to implement superior transaction solutions in the real world. This can only be good news for Algorand’s crypto, ALGO. El Salvador, the Central American country, used Algorand technology to develop some of its digital infrastructure. Stablecoin players like Circle have used Algorand as the basis for projects. Recently, Italia Olivicola – the largest Italian consortium of producers of olive oil – has implemented Algorand as the technological spine of their supply chain. Over $500 million USD has been invested in Algorand by crypto funds, and Skybridge Capital Hedge Fund has bought $700 million USD ALGO.

Risks Of Buying Algorand In Australia

A threat to Algorand over the medium-term is the mooted completion of the roll-out of Ethereum 2.0 next year in 2022. Ethereum will relinquish the old Proof-of-Work model and take up the Proof-of-Stake model that makes Algorand so eco-friendly as well as fast. Ethereum may thus reinforce its 20% share of the crypto sector at the expense of competitors like Algorand and Cardano.

Algorand Price Prediction & Analysis

algorand price chart

The consensus on Algorand is that it is a long-term hold. Currently, in 2021 the price is around the $1.8 USD mark. There is strong downward momentum which might see the price hit $1 later this year. The price found strong support over the course of Summer 2021 just below this. By the start of 2022, many analysts concur that a price of $2 to $2.5 USD looks possible. Over the longer term, a price of $5 by 2024 is viable if Algorand continues to pick up business at its current rate.

What underpins a positive prognosis for Algorand is its eco-credentials. Because the Algorand blockchain does not use mining, it uses far less electricity than other blockchains. Bitcoin mining, for example, uses the same amount of electricity as the Netherlands.

Why Is Algorand Popular?

One reason Algorand is so popular with crypto investors is the Algorand Wallet. Holding ALGO in an Algorand Wallet unlocks rewards over time.

Is It Always Safe To Invest In Cryptocurrency?

Those with a bearish view on cryptos over the long-term are getting swept away by the proliferation of real business being done with blockchains. Cryptos are more than a token. They are related to tech that is being taken up by real businesses to make real money in financial services on a global scale.

It is no wonder, then, that institutional investors are finally piling into the crypto sector. 85% of wealth managers polled in the UK, US, Switzerland and Germany by Nickel Digital Asset Management in January 2021 said that they planned to buy cryptos for the first time or increase their holdings over the next 2 years. Over half of wealth managers polled said they thought that crypto prices would go up. 40% of those polled agreed that they were attracted to cryptos as a means of hedging against inflation.

Selling Algorand: A Quick Overview

With eToro you can sell Algorand simply by accessing your portfolio by pressing the ‘sell’ button. The Algorand will then be converted into USD and deposited into your account. Note that, if you have chosen to use Coinbase from Australia instead, it is your debit card that will be credited with the sale proceeds.


Buying Algorand using an exchange is best left to experts who fully understand how exchanges work – and are prepared to trade in an environment where regulation is sparing. It is far simpler and safer to purchase Algorand with a broker. But choices for Australian investors are limited. And, of brokers which do offer Algorand to Australians, eToro is the stand-out provider thanks to strong regulation in numerous countries and a safe and supportive investing space which has proven popular with 20 million users. – the #1 Broker Platform to Buy Algorand in Australia

Mobile AppYes
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly


How to Buy Algorand?

Where to Buy Algorand?

Is Algorand A Good Investment?

Is Algorand Safe To Invest In?

How to Sell Algorand?



About Jules Blundell PRO INVESTOR

Jules is an experienced finance writer. He leverages his First Class degree from Cambridge University and his time at banks such as Goldman Sachs, Credit Suisse First Boston and Deutsche Bank to crunch complex financial topics for easy, educational reading.