How to buy Algorand (ALGO) from Canada

By   |   Verified by David Boyd   |   Updated 9 Sep 2022

  • Looking to take a position in Algorand for exposure to DeFi?
  • Learn about where you can buy it online.
  • A full step-by-step guide to taking a position.

Algorand (ALGO) is one of the upcoming crypto projects in the DeFi space and one of the largest cap altcoins.

Read on for more details about where you can buy Algorand in Canada with a full guide to the process.

Not sure which exchange to use?

Where to buy Algorand


On website


  • Get $10 when you sign up and deposit at least $100 in your account.
  • Has the lowest fees in Canada.
  • Set up recurring buys for assets like Bitcoin, Ethereum, and 18 other coins so you can invest in cryptocurrency on your own schedule.
  • NDAX holds a majority of user funds in an offline, multi-signature wallet.


  • Competitive trading fees at 0.2% for both selling and buying cryptocurrencies.
  • Get 24/7 customer support.
  • Earn by referring a friend.


  • Other exchanges have a larger choice of digital assets to trade.
  • Only available to Canadian residents

On website


  • Get $10 when you sign up and get verified and an additional $20 when you deposit over $100.
  • Competitive buy and sell prices with excellent liquidity and tight spreads.
  • Enjoy commission-free trading and 24/7 live support.


  • 0% trading fees
  • Free cash deposits and withdrawals.
  • VirgoCX also offers NFTs.
  • FINTRAC registered.


  • Only accepts CAD and USD as fiat currencies.
  • Other exchanges offer more coin selection.



  • Create an account and get verified in minutes.
  • Fund your account with $0 fees through a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.
  • With price alerts, it keeps you in the loop on those big moves.


  • Fast verification process.
  • Free cash deposits and withdrawals
  • Competitive trading fee.
  • Supports CAD and USD funding.


  • Limited selection of cryptocurrencies.

First time buying?

How to buy Algorand

Step 1: Choose an exchange that has Algorand listed

Algorand can be bought at a growing number of cryptocurrency exchanges, the most convenient way to buy cryptocurrency.

When comparing exchanges, make sure that the one you want to use supports Alogorand. Normally an exchange maintains a single page that lists all the coins available on their platform.

Other features worth reviewing include trading fees (sometimes a spread, sometimes a set maker and taker fee), whether there are fees to deposit and withdraw fiat currency, account funding options that suit you, if they offer a crypto card for easy access to your account funds, etc.

Step 2: Get verified

When signing up for an account at a crypto exchange, you'll be required to provide personal details such as your name, phone number, and email address, etc.

At most exchanges, you’ll be asked to prove your identity using any valid photo ID like your driver's license or passport. The verification process can take a few minutes. Once your identity is confirmed, you will be able to start trading.

Step 3: Set a budget

It is best only to invest money you can afford to lose. This is particularly true in the case of cryptocurrencies as they are volatile assets.

Step 4: Fund your account

You can deposit funds in your account with a transfer of fiat funds (CAD) from a bank account or debit card. Some exchanges offer additional options for depositing funds like Interac e-Transfer, PayPal, Skrill, etc.

If you use a card to deposit funds, you'll most likely be charged a fee. Not all exchanges allow crypto-to-crypto deposits.

Step 5: Buy

Market orders are a good option if you just want to take a position in Algorand quickly and aren't worried about slippage costs. Most exchanges let you set up trigger orders that are executed immediately when Algorand is trading at a defined price.

Some exchanges allow you to create automatic orders to buy more Algorand at specific intervals, such as buying $100 worth every week or month (depending on your budget). This helps to average down the cost over time.

After you buy

Where to store your Algorand

If you just want easy access to your tokens, keep them at the exchange where you bought them. Alternatively, you can transfer them to a wallet you own on another exchange at a later date. Hot wallets, being connected to the internet, are more vulnerable to hacking, theft, and malware.

Cold wallets, however, are not connected to the Internet. They're the preferred way to store tokens you don’t plan on trading with.