If you’re looking for other C aside from Bitcoin and Ethereum, you can consider Algorand (ALGO). Some reasons it became popular are:

• It uses pure proof of stake (more efficient transactions and users are always free to come and go)
• Algorand is a developer-friendly blockchain (supports several programming languages such as Python, Go, Java, and JavaScript)
• Zero downtime since launch (and as of this writing)
• Algorand blockchain never forks (double-spend is impossible)

Based on those features and advantages, you might want to buy Algorand (ALGO) today. You can do that through Coinberry:

1. Sign up in Coinberry
2. Verify your account and identity
3. Fund your account using wire transfer or Interac e-Transfer
4. Buy some ALGO

Aside from Algorand, you can also explore other cryptocurrencies such as Cardano, Cosmos, Gala, and 30+ other crypto assets.

Why should you invest in Algorand?

With Algorand’s pure proof of stake, the processing of transactions becomes more efficient. Because of this greater efficiency, its blockchain network is equipped to scale and perhaps reach massive adoption.

Algorand’s network is also developer-friendly because it supports several programming languages such as Python and JavaScript. This encourages developers to use the blockchain network for building and running decentralized apps and smart contracts. Because the network empowers developers, this can further accelerate Algorand’s popularity and user base.

In addition, Algorand never faced a downtime. In contrast, other blockchain networks have faced several downtimes. This tells us that they’re unreliable or that anytime the network will fail. With this lingering doubt, we’ll look for alternatives that have a flawless history of reliability and continuous operation.

Finally, Algorand’s network never forks. This means double-spend is impossible and that each transaction is immediately finalized. This immediate transaction finality is important in payment processing and other financial transactions (you have to know immediately that an asset is yours).

Is Algorand better than Ethereum?

Some analysts said that Algorand can surpass Ethereum in market capitalization and user base. That’s because Algorand is faster and there are no gas fees. This means using Algorand is cheaper when processing smart contracts and other transactions.

With Algorand’s greater speed and efficiency as well as lower transaction costs, there’s a chance that it can reach massive adoption. If growth and further development is continuous, ALGO’s price may rise significantly over the years.

Buy Algorand or Cardano?

Cardano (ADA) is also a good alternative to Ethereum. Cardano is more efficient and has lower transaction fees. With this greater efficiency and lower costs, many people have chosen Cardano over Ethereum.

Both Cardano and Algorand are strong alternatives to Ethereum. As users, developers, and investors look for more efficient blockchain networks, they will likely come across Algorand and Cardano. Also, investors tend to look for cryptocurrencies and blockchains that are positioned for growth (or assets that have much more room to grow).

Is Algorand a good investment?

Aside from knowing how to buy (ALGO) Algorand in Canada, it’s also worthwhile to find out whether it’s a good investment.

To decide, it’s good to learn about Algorand’s:

• Comparison to other blockchains
• Market capitalization
• Technological features
• Use cases
• Supporters and backers

Algorand vs Ethereum and Cardano

Analysts often compare Algorand against Ethereum and Cardano:

• Ethereum is already entrenched so catching up is difficult
• Cardano has already found use cases in education, retail, government, finance, and other enterprise applications

Also, perhaps Algorand has not yet reached its critical mass to better compete with the user base of Cardano and Ethereum.

Algorand market capitalization

Algorand’s market cap is more than 3 billion CAD. This is still fairly small compared to:

• Bitcoin ($540 billion)
• Ethereum ($230 billion)
• Cardano ($20 billion)

Market capitalizations always fluctuate. But you get the idea that Algorand is still far from Bitcoin, Ethereum, and Cardano when it comes to market cap. Algorand may or may not catch up because those three blockchain networks are also developing and improving.

Algorand’s technology

Algorand stands out because of its pure proof of stake mechanism. Just with its proof of stake, it’s faster and more efficient than Bitcoin and Ethereum that still uses proof of work (slow and more energy intensive). In the near future though, Bitcoin and Ethereum might switch to proof of stake for faster and more scalable transactions.

With Algorand’s pure proof of stake, it further builds on the advantages of plain pure proof of stake. With the added “pure” in its consensus mechanism and transaction processing, Algorand achieves better democratization where you only need one ALGO coin to help participate and secure the network.

Algorand use cases

Algorand has already enabled the creation of several financial products, protocols, and exchange of value. In addition, more than 500 global organizations have leveraged Algorand’s technology. With this vast ecosystem, it’s possible that Algorand will continue to gather and retain supporters.

Supporters and backers

Algorand has international partners that represent technology communities and venture capital, cryptocurrency, and financial services. These partnerships have accelerated Algorand’s growth and development.

Should you buy Algorand now?

With the high volatility of Algorand and other cryptocurrencies, it’s impossible to tell whether their prices will rise or fall tomorrow by 10% or more. After all, the entire crypto market is unpredictable. Its volatility is both a risk and an opportunity.

To minimize the risk and expose yourself to opportunities, you can:

1. Start small (in Coinberry you can start for as little as 50 CAD)
2. Consistently invest small amounts each week or month (dollar cost averaging)

When you start small in crypto investing, the losses won’t be too painful in case Algorand’s price drops. If you consistently invest each week or month, you also avoid huge losses because you’re spreading the risks (in contrast to putting a huge lump sum of money).

It also helps to put into crypto only a small amount of your total investment capital (analysts recommend 5%). This way, you’ll have more resources to explore other investments and opportunities.

Timing the market is impossible. Also, monitoring the news and everything that’s happening to crypto will require much of your time. But with a clear strategy, you’ll save time, money, and energy in crypto investing.