ALGO - Algorand

What is Algorand (ALGO)?

Algorand (ALGO) is a blockchain platform that was created to solve some of the biggest issues facing decentralized networks, such as scalability and security. It was founded in 2017 by Silvio Micali, a Turing Award-winning computer scientist and professor at the Massachusetts Institute of Technology (MIT).

One of the unique features of Algorand is its consensus mechanism, which is known as Pure Proof-of-Stake (PPoS). Unlike traditional Proof-of-Stake systems, which rely on a smaller set of validators to confirm transactions, Algorand's PPoS allows for all token holders to participate in the consensus process. This ensures that the network is both secure and decentralized.

ALGO is the native cryptocurrency of the Algorand blockchain. It is used for transaction fees, smart contract execution, and as a store of value. Learn more

How to Deposit ALGO Into Your Coinmetro Account

For all information on how to deposit ALGO into your Coinmetro account, please see the following help center article: How to Deposit ALGO.

How to Withdraw ALGO From Your Coinmetro Account

For all information on how to withdraw ALGO from your Coinmetro account, please see the following help center article: How to Withdraw ALGO.

Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.

Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.