How To Buy Algorand UK – Buy Algorand In Under 5 Minutes

Fact Checked by Gary McFarlane

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Algorand boasts 1,000 transactions every second as well as five-second finality, but just how does this decentralized network achieve these figures? Also, just last week Valkyrie Digital Assets launched an Algorand trust that offers exposure to ALGO and a 4%-6% yield. 

In this beginner’s guide, we’ll cover how to buy Algorand in the UK on a commission-free basis. 

#1 Broker to Buy ALGO – eToro

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
0% CommissionVisit WebsiteOur score 10

How To Buy ALGO – Choose a Broker

Investing in ALGO coins is a simple affair, especially when done through a top-rated online crypto broker or exchange. The best trading platforms enable you to buy ALGO in the UK with 0% commission and competitive fee rates.  

With that in mind, let’s briefly examine five of the best online brokers and cryptocurrency exchanges that offer ALGO cryptocurrency trading in the UK:

  1. eToro – Overall Best Broker to Buy ALGO UK
  2. Coinbase – Best Crypto Exchange to Buy ALGO for Beginners
  3. OKEx – Best Low-Cost Exchange to Buy ALGO UK via a Crypto Deposit
  4. Binance – Best Cryptocurrency Exchange to Buy ALGO with Low Commissions
  5. Coinjar – Best Crypto Exchange to Buy ALGO UK with low crypto deposit fees

For in-depth reviews of each of these ALGO trading platforms keep reading this guide!

How to Buy ALGO in the UK – A Quick Guide For 2022

Here’s a quick step-by-step tutorial on how to buy ALGO in four easy steps:

  • Step 1: Open an eToro trading account -eToro is a copy trading platform that is home to 20+ million traders and is FCA-regulated.
  • Step 2: Account Verification – As part of KYC (Know Your Customer) regulations, simply upload proof of identity and address.
  • Step 3: Fund your Trading Account – Depositing funds into your eToro account is easy and simple as you can choose from a range of payment methods such as credit/debit card, bank transfer, or even PayPal.
  • Step 4: Buy ALGO – Type ‘Algorand’ into the search bar at the top of the screen, tap on ‘Trade’ and enter your preferred investment amount in USD.

Finally, you can buy ALGO coins by clicking on the button marked ‘Open Trade’. You can also store your ALGO tokens securely in the eToro Money crypto wallet. At eToro crypto enthusiasts can build diversified portfolios with 17 of the most popular DeFi coins and tokens with the highest liquidity, such as Bitcoin (BTC) and Ethereum (ETH).  

Additionally, you can buy ALGO coins on eToro with a minimum investment of just $25. 

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.  

Where to Buy ALGO in the UK

If you Google ‘Buy ALGO’ you’ll be inundated with hundreds of relevant results guiding you to online crypto brokers and exchanges offering the lowest fee rates and largest assortment of DeFi coins and tokens. But how do you choose the right provider that suits your trading goals and experience? 

With this in mind, let’s examine the five best online crypto brokers and exchanges to buy Algorand in the UK. 

1.  eToro – Overall Best Broker to Buy ALGO UK

eToro logo

From the vast array of online trading platforms, we found that eToro is by far the best place to buy ALGO in the UK. Established in 2006, this social trading platform is now home to over 20 million traders and boasts some of the lowest spreads as well as 0% commission trading. eToro provides a user-friendly and streamlined trading experience with an intuitive web-based platform, in addition to a convenient mobile trading app. At eToro, you can open an account, deposit funds, and buy ALGO and other cryptos in a matter of minutes from the comfort of your own home. 

In terms of fees and commissions, eToro is one of the cheapest places to trade online. This is because the copy trading platform offers commission-free trading and market-leading spreads. eToro provides access to a range of financial instruments and markets including stocks, CFDs, forex, commodities, ETFs, as well as 17 international exchanges. When trading cryptos on eToro, you will only have to pay the spread which is the difference between the buy and sell prices quoted for an asset. At eToro, the current spread for Algorand is just 3.9%. Furthermore, eToro facilitates low-cost trading as you can invest as little as $25 which is ideal for new investors. 

How many account types are there? eToro simply offers two account types. You can choose between a live trading account and a demo account with $100,000 worth of virtual funds. Demo accounts, otherwise referred to as paper trading accounts, are effective educational vehicles for beginners to familiarise themselves with online trading. With a demo account, you can practice trade strategies in a simulated trading environment free from the risk of losing your own money. Think of a demo account as a stepping stone to actually investing in tradable assets with real capital. 

eToro buy Algorand

If you’ve got your sights set on a passive trading strategy, then you’ll be pleased to learn that eToro offers two unique copy trading features called CopyTrader and CopyPortfolio. With eToro’s CopyPortfolio you can either invest in a theme such as cryptocurrencies or stocks, or a portfolio of advanced eToro investors easily with the click of a button. It’s important to note that the minimum investment for investing with the CopyPortfolio feature is set at $5,000. On the flip side, when using the CopyTrader tool you can browse through hundreds of public profiles of seasoned traders and copy the trade strategies of up to 100 traders. The minimum investment for CopyTrader is just $200. 

Depositing funds into your eToro account is quick and easy, as eToro accepts a wide range of payment methods for your convenience. These include credit cards, debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna / Sofort Banking, Bank Transfer, Online Banking – Trustly (EU region). While there are no account fees or deposit fees, eToro charges a $5 withdrawal fee and a $10 inactivity fee. The only supported account base currency is USD, which means that you will have to pay a conversion fee, typically 50 pips when depositing or trading with non-USD fiat currencies. The deposit times also differ based on the chosen payment method; for instance, deposits made via PayPal are credited to your account instantly, while bank transfers typically take between 4-7 business days to process.

eToro copyportfolio

Is eToro regulated? eToro is regulated and authorized by several top-level financial authorities including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). Furthermore, according to eToro, it holds 90% of all client funds in segregated bank accounts, as well as providing negative balance protection. 

When UK-based users open a trading account with eToro (UK) Ltd they are protected by the standards and regulations of the Financial Conduct Authority. The Financial Services Compensation Scheme (FSCS) covers UK traders up to $85,000 for cash and asset claims if the broker goes into insolvency. In summary, eToro is the best online trading platform for investing in ALGO and other financial products, such as fractional shares, forex, and ETFs with 0% commission and competitive spreads.


  • Trade 17 of the most popular cryptocurrencies with market-leading spreads
  • Access heaps of stocks listed on 17 international markets with 0% commission
  • The minimum investment when buying crypto coins is just $25
  • Regulated by top-tier financial regulatory bodies including the UK’s FCA, CySEC and ASIC
  • eToro supports a variety of payment methods for your convenience

  • USD is the only available account base currency

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider. 

2. Coinbase – Best Crypto Exchange to Buy ALGO for Beginners

According to, Coinbase is one of the top cryptocurrency exchanges, with a market value of $47.92 billion and an average daily trading volume of over $1.4 billion. Coinbase (NASDAQ: COIN) went public on the NASDAQ exchange in a blockbuster IPO (initial public offering) in April 2021. 

During its IPO, Coinbase raised more than $500 million from shareholders, who gave the crypto exchange a value of $8 billion. Among those global investors are Tiger Global, Andreessen Horowitz, and Paradigm, an investment company focussed on the crypto sector. 


Coinbase has a loyal network of 35+ million active users, and is ideal for beginner traders looking to buy crypto assets for the first time. Coinbase charges a spread of roughly 0.50% for crypto purchases and sales. But, the spread may be lower or higher depending on market conditions. In addition to the spread, the crypto exchange also charges a ‘Coinbase Fee’ which is the greater of either a flat fee or a variable percentage fee based on the region, asset feature, and payment method. The flat fees are as follows:

  • $0.99 if the total transaction amount is $0 – $10
  • $1.49 if the total transaction amount is $10 – $25
  • $1.99 if the total transaction amount is $25 – $50
  • $2.99 if the total transaction amount is $50 – $200

When it comes to deposits and withdrawals, Coinbase accepts a range of payment methods including debit cards, cryptocurrencies, and bank transfers. To avoid the high 3.99% Coinbase fee on debit card deposits and purchases you can opt for a UK bank transfer. The process is simple and fully digital, given that you will need to wait a few days for your deposit to be processed.

Coinbase Algorand chart

Coinbase supports the following payment methods for UK customers:

  Best For Buy  Sell  Deposit  Withdraw  Speed
Faster Payments Large amounts, GBP deposits, Withdrawing   ✘   ✘     ✔       ✔ 1-3 business days
SEPA Transfer Large amounts, EUR deposits, Withdrawing   ✘   ✘     ✔       ✔ 1-3 business days
3D Secure Card Instant crypto purchases   ✔   ✘     ✘       ✘ Instant
PayPal Withdrawals   ✘   ✘     ✘       ✔ 1 business day
Instant Card Withdrawals Withdrawals   ✘   ✘     ✘       ✔ Instant

Let’s also take a quick look at Coinbase’s variable fees for UK-based clients and the various payment methods, in the table below:

Standard Buy/Sell Instant Buys (debit card only) Bank Transfers (SEPA) – in/out* Faster Payments Instant Card Withdrawal
1.49% 3.99% Free/€0.15 Free up to 2% of any transaction and a minimum fee of £0.55

Is it safe to use Coinbase? Coinbase complies with all existing and applicable regulatory requirements set by each financial regulatory body in all the jurisdictions that it operates in. Another advantage to consider when assessing Coinbase’s security is that it is listed on the NASDAQ exchange, which means that its financial records are published publicly. Coinbase is also a Money Services Business registered with FinCEN, and the company has stated its ongoing commitment to obtaining the relevant licencing to comply with local laws and regulations.


  • User-friendly crypto exchange platform ideal for beginners and advanced traders
  • Streamlined account opening process
  • Supports debit cards and bank transfers
  • No inactivity fees & $0 minimum deposits 
  • Registered as a Money Services Business with FinCEN


  • 3.99% fee to invest in cryptos via debit card

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. OKEx – Best Low-Cost Exchange to Buy ALGO UK via a Crypto Deposit


OKEx was founded in 2014 by Star XU and has since grown to become one of the world’s most prominent cryptocurrency exchanges. Originally based in China, OKEx and its subsidiary OKCoin relocated to Hong Kong after China’s government forbade the trading of initial coin offerings (ICOs). As a result, OKEx is currently focused on international markets. 

OKEx, like most of its decentralised finance competitors, provides one of the most reliable cryptocurrency marketplaces for buying Bitcoin, Ethereum, Uniswap, Ripple, USDT, and a variety of other digital assets. OKEx developed a proprietary utility token, OKB, in 2018 to help users offset their trading fees. You can also acquire exclusive services and increased API rate limits with OKB.

OKEx Algorand chart

When compared to other top-rated crypto exchanges like Binance, Coinbase, and Bithumb, OKEx has some of the lowest trading costs. Maker orders are limit orders placed in the order book before a trade. The spot fees at OKEx are based on a tiered maker-taker structure. Simply put, the maker-taker model gives a transaction rebate to market makers supplying liquidity, and charges a transaction fee to traders who remove liquidity from the market. 

Tier Total OKB holding 30-day trading volume(USD) Maker fee Taker fee 24h withdrawal limit (BTC)
Lv 1 < 500 < 5,000,000 0.080% 0.100% 500
Lv 2 ≥ 500 < 5,000,000 0.075% 0.095% 500
Lv 3 ≥ 1,000 < 5,000,000 0.070% 0.090% 500
Lv 4 ≥ 1,500 < 5,000,000 0.065% 0.085% 500
Lv 5 ≥ 2,000 < 5,000,000 0.060% 0.080% 500

You can buy ALGO in the UK within a matter of minutes using a range of convenient payment options such as debit and credit cards, PayPal, and bank transfers. 

Is OKEx a secure platform? OKEx prides itself on its commitment to providing top-quality security for its users. The platform not only offers industry-leading security measures and technology to its clients, but it also has sophisticated security systems in place for its internal crypto wallets. OKEx even goes so far as to provide guides and tutorials on account security and how to keep your digital assets safe on the platform. Here are some of the security features you can find on OKEx:

  • Google Authenticator
  • Mandatory 2FA
  • Anti-phishing code
  • Mobile verification
  • Login password
  • Email verification
  • Funds password

Aux Cayes FinTech Co. Ltd, which is registered with the Seychelles Financial Services Authority (FSA), is OKEx’s service provider. However, because OKEx is not regulated by the Financial Conduct Authority, UK-based clients are not protected by investor protection schemes such as the Financial Services Compensation Scheme (FSCS).


  • Interact with other OKEx traders via social media groups like Facebook and Twitter
  • Trade cryptos anywhere and anytime via the OKEx mobile app
  • The minimum deposit is just 10 USDT
  • Access a wide range of 150 cryptos
  • Store your digital assets in OKEx’s SA secure crypto cold wallet 


  • Not regulated or authorized by the FCA

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. Binance – Best Cryptocurrency Exchange to Buy ALGO with Low Commissions


Based on daily trading volume, Binance is one of the largest cryptocurrency exchanges in the world with a 24-hour volume of $13,034,973,374. Just to put that into context for you, Coinbase has daily trading volume of $2,088,189,541 which represents a difference of 84%. Launched in 2017, Binance is based in the Cayman Islands and has a client base of around 15 million crypto enthusiasts. 

What fees can I expect when trading on Binance? The crypto exchange has competitive fees in contrast to its main US rivals including Coinbase. The spot trading fee is just 0.1% and the instant buy/sell fee is set at 0.5%. Given the fact that BNB is the native DeFi token of the Binance ecosystem, the exchange encourages clients to use BNB tokens by offering discounted trading fees. The account minimum is just $10 with wire transfers, ACH deposits and debit cards as accepted payment options. 

Binance Algorand chart

In contrast to most crypto exchanges across the board, Binance Futures has one of the lowest maker-taker fee structures. Maker fee rates start at just 0.02% and can be even lower provided that you have a 30-day trading volume of 11,000 BNB tokens or 750,000 BTC or more. 

Is Binance safe to use? The UK’s Financial Conduct Authority recently hit Binance with the ban hammer, warning the world’s largest crypto exchange and UK-based crypto traders that it has been blacklisted from operating in the country. The UK’s financial markets watchdog rejected Binance’s application to register as an authorised crypto exchange in the UK just under two months ago. The reason behind this was that Binance did not meet anti-money laundering standards. 

What impact has this had on UK traders? While Binance is still allowed to offer crypto trading via its website, the crypto exchange has experienced further setbacks in the UK. Clients were briefly unable to make debit card withdrawals because of problems with the UK’s Faster Payments system. Moreover, Barclays has banned its users from sending funds to the Binance platform. While Binance has suffered setbacks in the UK, its competitors have seen user numbers rise since the FCA’s rulings were announced.


  • Facilitates the highest recorded daily trading volumes above $13bn 
  • Buy and sell 50+ cryptos
  • Market-leading trading commission as low as 0.1% per slide
  • User-friendly platform with high liquidity levels
  • Debit/Credit card, local bank transfer deposits accepted


  • Has been banned from conducting regulated activities in the UK.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.  

5. Coinjar – Best Crypto Exchange to Buy ALGO UK with low crypto deposit fees


At first glance, CoinJar may appear to be a standard cryptocurrency exchange, but this couldn’t be further from the truth. CoinJar provides clients with exchange access as well as a crypto wallet, and a variety of crypto management services. On the user-friendly platform, you can buy, sell, and trade heaps of crypto coins with the click of a button. The streamlined onboarding process also appeals to new traders. 

What are CoinJar’s trading fees? UK-based clients are charged a 2% instant buy fee when using a Visa or Mastercard, however, Faster Payment Service deposits come without a charge. There is a 1% conversion fee and dynamic transaction fees apply to most cryptos. What about non-trading fees? There are no deposit fees when depositing with cryptocurrencies. Similarly, when transferring funds from your UK bank account there are no fees. It is also free to withdraw funds regardless of whether you do this via a crypto or a bank transfer. 

If you want to buy one of the supported digital assets on CoinJar, you will incur a variable fee of 1%. On the other hand, if you use the platform to trade crypto pairs, the price structure is different as CoinJar uses a maker-taker model. 

CoinJar buy ALGO

What payment methods does CoinJar accept? The crypto exchange supports two payment options:

  1. Cryptocurrencies
  2. UK Bank Transfer

Is CoinJar safe? CoinJar has received licensing and authorization from the Australian Transaction Reports and Analysis Centre. According to CoinJar, at least 90% of all user funds are held offline in geographically redundant secure locations. Multi-signature technology is also used by CoinJar to store crypto assets in secure hot wallets.


  • User-friendly platform ideal for beginners with little trading experience
  • Access to 30+ cryptocurrencies
  • Convenient mobile trading app
  • £5 minimum deposit
  • Vast majority of client crypto-funds are held in cold wallets. 


  • Experienced traders may find CoinJar too basic 

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Algorand in the UK – Detailed & Explained in Full

In this section of our beginner’s guide we’ll show you how to buy ALGO in the UK in less than 5 minutes with the social trading platform eToro. 

Featured Broker
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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

Featured Broker
Buy now

CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Buy now

83% der Konten von Privatinvestoren verlieren beim Trading von CFDs bei diesem Anbieter Geld. Ihr Kapital ist im Risiko

Mobile App Rating
Mobile App
Number of Coins
Trading Fees
Deposit Fees
Withdrawal Fees
N/ACBI and MiFID in EuropeN/A
Min. Deposit
Leveraged Trading
N/A1:2 for cryptocurrenciesN/A
Bitcoin Cash
Binance Coin
Bitcoin SV
Credit Card
Sepa Transfer

Step 1: Open a Trading Account

How do you choose the best broker or exchange to trade cryptos in the UK? Simply put, we recommend eToro as the best crypto trading platform to buy Algorand in the UK with 0% commission and market-leading spreads. 

eToro - Join now

To buy ALGO you will first need to visit the website and click on ‘Join Now’. This will take you to an online form where you will need to populate the empty fields with your personal information such as your name, email address, and phone number. 

After that, you’ll be asked for some extra information, such as your social security number and address. Finally, once you’ve verified your phone number the account registration process will be completed. 

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Verify your account

As part of the KYC process you must upload proof of identity and address, such as a passport, driver’s licence, utility bill, or bank statement issued within the last six months.

The verification process can take up to two business days, and you will be contacted when your eToro trading account has been verified.

Step 3: Deposit funds into your account

When it comes to funding your account, the initial deposit is only $200, and subsequent deposits are set at a minimum of just $50. Using a debit/credit card or an e-wallet like Skrill, PayPal, or Neteller to buy ALGO in the UK is the fastest option in terms of processing times. 

These payment methods are instantaneous, so you won’t have to wait for funds to be deposited to your account like you would with a bank transfer, which normally takes 4-7 days. Depositing funds into your eToro account is safe, secure, and simple. SSL (Secure Socket Layer) technology is used for all transactions, which helps to keep your personal information safe.

At eToro, there are no deposit fees or account fees, and withdrawals are set at a rate of $5 per transaction. 

Step 4: Search for Algorand

eToro search for ALGO

Now that you have successfully deposited funds into your account you can simply type ‘Algorand’ into the search bar and select the relevant result from the drop-down list.

Step 5: Buy ALGO UK

By clicking on the ‘Trade’ button you will have access to an ALGO buy order window, as shown in the image below. From here you can enter the amount you want to invest, keeping in mind that there is a $25 minimum investment for cryptocurrencies on eToro.

Buy ALGO on eToro

A $25 investment in ALGO on eToro will currently get you 0.03 ALGO tokens. Lastly, click on the ‘Open Trade’ button on the order box. By doing so, eToro will execute your Algorand investment instantly. 

Buy Algorand – Best Place to Buy ALGO in the UK

What is the difference between a cryptocurrency exchange and a cryptocurrency broker? In this section of our beginner’s guide, we’ll seek to answer this important question. 

Online Cryptocurrency Broker

Regulated online crypto brokers are the best place to buy ALGO in the UK. For example, eToro is regulated by the UK’s Financial Conduct Authority and also provides investor protection under the FSCS. By using the fully-regulated eToro platform you will:

  • Have access to several convenient payment methods such as debit/credit cards, bank transfers, and e-payments like PayPal, Neteller, and Skrill.
  • By investing in Algorand through a regulated crypto trading platform, the provider complies with strict KYC policies and other regulations designed to prevent money laundering and online fraud.

Another huge advantage of buying, selling, trading, and holding cryptos via an FCA-approved online broker is that you will have unfettered access to cutting-edge trading features such as copy trading. CopyTrader and CopyPortfolio are two tools that let you trade passively with a single click. In other words, you can either replicate other experienced investors’ trades or invest in a specific theme or portfolio of securities.

eToro Trade Markets

eToro also offers CFD and forex trading, as well as commission-free stock and ETF trading. So, in addition to crypto trading, you can use the same eToro live trading account and platform to gain exposure to other financial markets with different financial instruments. In a nutshell, eToro has everything any beginner trader will need all in one place.

Cryptocurrency Exchange

A crypto exchange allows you to buy and sell cryptos. Certain cryptocurrency exchanges offer a range of services and products, whereas others were set up mainly for buying and selling DeFi assets. Decentralized crypto exchanges (DEXs) are not managed by centralized third-party authorities, are open source, and facilitate peer-to-peer trading. Additionally, DEXs also demand greater technological skill and detailed knowledge of digital assets in comparison to centralized crypto exchanges and regulated trading platforms. 

Binance exchange markets

Crypto exchanges connect buyers with sellers. As is the case with traditional bank accounts, to buy and sell on the majority of exchanges you will need to open an account and complete the KYC process. This is to help minimize money laundering and online fraud. 

Cryptocurrency exchanges, including centralized and decentralized types, are a relatively new technology which makes it crucial that you conduct thorough research before you select one to use. The crypto market is notoriously volatile at the best of times, and some crypto exchanges have recently suffered hacking attempts and in the case of Binance have been banned in the UK altogether. 

Ways to Buy ALGO UK

Buying Algorand in the UK can be done in a number of ways. As such, we’ll explore some of the safest and convenient ways to buy ALGO with a top-rated broker or exchange. 

Buy ALGO with a Debit Card 

Assuming you have access to a Visa or MasterCard debit card, this is by far the most convenient way to purchase Algorand in the UK.

This is due to the fact that the broker will process your transaction immediately. The broker must be licenced in order to take debit card payments. Before it can complete your transaction, it must additionally require you to upload some form of identification.

You can buy ALGO with a debit card from all five of the exchanges/brokers we looked at earlier. eToro is the cheapest option on the table, with a conversion fee of around 0.5%, and no deposit or account fees. 

Buy ALGO with a Credit Card 

If you’re used to using a credit card for all your online transactions, you may be surprised to learn that buying Bitcoin and other popular altcoins such as Algorand with a credit card could be complicated. If you attempt to, you could be restricted by the exchange itself or by the credit card issuer. 

For example, certain top-rated crypto exchanges including Coinbase do not accept credit cards as payment methods. Some crypto exchanges state that they only accept Visa and Mastercard credit cards. However, even if the crypto exchange accepts credit cards that is not a guarantee that the credit card company will allow it. 

As well as the fee charged by the exchange for its service, it may charge an extra fee for using a credit card. For instance, the crypto exchange could charge you a portion of the transaction total to exchange fiat currencies for Bitcoin or other altcoins. Let’s say that your preferred crypto exchange charges a 3.99% fee for credit card transactions. This means that for every £100 of crypto you purchase, you’ll be paying £3.99 to buy with a credit card, which leaves you with £96.01. In terms of an investment, you would need to make a 4% return just to get even.

Buy ALGO With a Bank Transfer

If you would prefer to make your Algorand investment using a bank account, eToro has you covered. With the convenience of bank transfers via the eToro platform, it’s simple for beginners to get the ball rolling. 

Buy ALGO With PayPal

Using a CFD broker like eToro to buy ALGO using PayPal is a straightforward, secure, and fast way to do it. The main objective of eToro, which is branded as a “social trading network,” is to allow people to copy the trades of other experienced traders. eToro traders can buy one of 17 different crypto-assets listed on the platform or speculate on their price movements using CFDs. 

Buying ALGO with PayPal on eToro is relatively easy. Simply create a trading account, specify your deposit amount, choose PayPal as your payment method. When the transaction is finalized, you can go ahead and invest in Algorand. 

Buy ALGO with Bitcoin

The majority of altcoins cannot be purchased with USD which means that you’ll need to buy Bitcoins (BTC) and exchange them for your preferred altcoin on a crypto exchange. Bear in mind that your Bitcoins will be traded for ALGO. Once you’re ready, simply head over to the exchange of your choice and place an order for your digital currency, which in this case is Algorand. 

After the transaction is complete your altcoins will be stored on the exchange or trading platform. If you’re a long-term investor and want to hold your cryptos, we recommend storing them in a secure hot or cold crypto wallet such as the eToro Money crypto wallet. 

Why Buy ALGO UK?

Is Algorand a good potential investment in 2022? Algorand price is still under stress, falling from an all-time high of $3.28 in 2019 to a current price of $0.7742. This represents a decline of -76.28% in the space of 24 months. 

Algorand has not yet reached the so-called ‘Ethereum-killer’ status, but it has the potential to stir up the mainstream cryptos. This altcoin checks a lot of the boxes when it comes to meeting the requirements for altcoins that could compete with the current top DeFi (decentralised finance) cryptos. 

Why buy ALGO CoinMarketCap chart

Some of those requirements include transaction speeds and capacities, smart contract capabilities and its potential appeal to decentralized application development. With all these elements in mind it’s easy to see why Algorand could quickly join the likes of Polygon and Ripple.

It sounds promising on paper, but what about in reality? While Algorand may have the technology, its competitors have already done a lot to concrete their position in the blockchain and DeFi ecosystem. 

Why crypto enthusiasts and investors are keeping a close eye on Algorand

For those looking for a unique investment opportunity in underdog altcoins, Algorand seems to stand out. Since its creation in 2019, it has achieved quite a lot as a newcomer to the DeFi sector. It has gathered millions in funding for research and development, with several third parties now using its ecosystem. 

Of course, it’s a long way off from knocking Ethereum off its high blockchain horse, or from giving the so-called ‘Ethereum killers’ such as Cardano, a run for their money. 

Despite this, with its smart contract abilities, rocket transaction speeds, and commitment to becoming the missing link between decentralized and centralized systems, it does appear to be eager to fit into that classification.     

Algorand website

As if that wasn’t enough, Tezcan Gecgil from, suggested that ‘Algorand is a carbon-negative network as it does not involve mining. Therefore, efficiency is built into the ethos of this blockchain, making ALGO appealing for those seeking fundamental value in their crypto wagers.’

On its own this may not be enough to make it one of the most popular cryptos out there. However, as major digital assets such as Bitcoin are being criticised for their impact on the environment, it’s another advantage that Algorand is capitalizing on. 

Uncertainty lingers over the cryptocurrency market like a black cloud, and it may have further to fall until it reaches its floor. You should bear this in mind, as it currently trades for $0.79, a huge difference from its record high of $3.28 on June 21st, 2019. 

The Cost of Buying ALGO

There are costs involved when buying Algorand in the UK, whether that’s trading and non-trading fees. Just as you would pay fees for stocks and ETFs, the fee rates vary depending on the platform you use. 

The most important fees that you need to consider when buying any type of financial asset are:

Deposit fees

The cost for making a deposit varies depending on the payment method used and the platform’s pricing structure. During our research, we found that eToro only supports USD as the account base currency and hence does not impose fees for USD deposits. EUR, GBP, AUD, RMB, THB, IDR, MYR, VND, PHP, SEK, DKK, NOK, PLN, and CZK are among the 14 fiat currencies accepted by the social trading platform. When you deposit in anything other than USD eToro charges a 0.5% conversion fee. 

Trading Fees & Commissions

Trading any type of financial instrument comes with fees and commissions. At eToro you can trade 17 different cryptocurrencies on a commission-free basis. The only fee you will have to pay is the difference between the buy and sell prices, otherwise referred to as the spread. 

For example, when you buy ALGO on eToro you will pay a 3.9% spread. Cryptoassets can be moved from the eToro trading platform to the eToro Money crypto wallet. 

Risks of Buying Algorand in the UK

The crypto market has made a name for itself as being highly volatile. This is partly due to its decentralized structure making it more sensitive to investor sentiment which undulates at the best of times. All in all, there are a number of key issues you need to factor into your risk tolerance planning. 


While financial authorities do not regulate cryptocurrencies, online brokers and crypto exchanges are required to register with them. Recently, the UK’s Financial Conduct Authority has clamped down on crypto trading platforms due to growing concerns about money-laundering and a lack of client fund protection. 

eToro is fully regulated by the FCA, CySEC, and ASIC, and as such users can rest assured that their funds and data are protected by centralized financial regulatory bodies and investor protection schemes such as the Financial Services Compensation Scheme (FSCS). 


Most cryptocurrency market analysts will agree that crypto volatility is in a league of its own. There are no indices to assess crypto price volatility, but a quick look at historical price charts reveals that crypto prices experience higher peaks and lower troughs at a faster and more intense rate than those of assets in conventional markets.

Many factors that cause price volatility in traditional markets also apply to cryptocurrencies. Price movements in crypto and mainstream markets are driven by news and speculation. However, because crypto markets have less liquidity than traditional financial markets, their impact is magnified. Lower liquidity levels are a consequence of crypto markets having a lack of support from institutional investors and global trading firms. 

It is still early days to forecast when or even if crypto market volatility will even out as it has done in traditional markets. But, as the DeFi ecosystem continues to evolve, it’s likely that the hyperactive volatility will continue its course until cryptos find a secure foothold in the financial system. 

ALGO has Competition

Algorand is not the only under-the-radar altcoin stirring the waters. Polkadot (DOT), Tezos (XTZ), Cardano (ADA), Stellar (XLM), and NEAR Protocol (NEAR), are all examples of cryptos that fall into the ‘Ethereum killers’ category. 

Selling ALGO: A Quick Overview

When you invest in ALGO coins in the UK the long-term investment tactic is to sell them in the future for a higher profit margin. 

For instance:

  • Let’s imagine you purchased 200 ALGO coins at $5 each
  • This means that your total investment is $1,000
  • At some point in the future the crypto is priced at $15 and you decide to sell for a profit
  • You have 200 ALGO coins which means that you make a $2,000 profit.

Placing a crypto trade on the eToro platform is simple, whether you’re interested in buying the underlying asset or speculating on the crypto’s price movements via CFD derivatives. 

Here’s how you can trade crypto assets on eToro from the comfort of your own home: 

  1. Login to your eToro live trading account
  2. Click on Trade Markets to access the entire list of supported cryptocurrencies
  3. Choose your preferred crypto and click on Trade
  4. Tap on BUY 
  5. Set the leverage to X1 if you want to take ownership of the underlying asset, otherwise set it to X2 to increase your leverage and trade the asset’s price movements through a CFD (Contract for difference).
  6. Enter the total amount of funds you wish to invest
  7. Place a take profit order if necessary
  8. Finally, click on Open Trade

How to Buy Algorand UK – Conclusion

You now have everything you need to know about how to buy Algorand in the UK quickly, efficiently, and securely. We’ve covered everything from picking an Algorand broker/exchange, to the different payment options available, as well as the risks and rewards of investing in this digital asset.

If you want to buy ALGO in the UK today then choose eToro. Fully regulated by multiple financial authorities and home to more than 20 million traders, this social trading platform allows you to invest in ALGO and 16 other cryptos with 0% commission and tight spreads. As well as having access to low-cost trading, you can also use eToro’s copy trading features to diversify your portfolio in a hands-off approach to online trading. 

So, to start trading ALGO on eToro simply follow the link below and open a trading account in minutes!

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
0% CommissionVisit WebsiteOur score 10


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About Dassos Troullides PRO INVESTOR

Dassos Troullides is an experienced finance writer who specializes in CFD, stock, forex, and crypto trading. He uses his experience and time spent in the forex industry to simplify complex financial topics for easy, informative reading. Dassos also writes for,,, and