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Why Algorand Is the Best Cryptocurrency

 


https://nsokol44.medium.com/why-algorand-is-the-best-cryptocurrency-a881b70a78f8


Algorand is the most legit, authentic, realistic, and practical cryptocurrency to invest in. There are so many aspects of this cryptocurrency that many do not realize actually places it leagues above other crypto. From both a use case, third party defi applications, and programming ease, Algorand is clearly a champion amongst crypto-currencies. Allow me to explain why.

Algorand is Easy

Seriously, the whole crypto is just way too easy to deal with. Algorand has its own wallet you can install on your computer (using myAlgoWallet) or your phone (Algorand Wallet) it is also supported by hard wallets such as ledger or trazor. It is listed on every exchange (coinbase, binance, crypto.com, etc), and it has a realistic supply for it to become widely used and widely adapted (10 billion Algos).

Staking with Algorand is a No-Brainer

Seriously, unlike other crypto-currencies such as Cardano, Tezos, Cosmos, and others, there is no need to “stake” your coins in a pool to earn rewards. For example, with Cosmos when you stake your coins you basically commit them to an interest earning pool for until you unbond your coins from the pool, which takes 20 days. With Algorand, you stake by having at least one algorand in your wallet. There is no need to ever unbond or unstake your coins, you can spend them whenever you like and you continue to accrue rewards. Just hold them in your wallet.

Algorand is Fast

Algorand is fast. I’ve never had a transaction take more than 20 seconds to complete. Most of the time transactions are completed in less than 5 seconds. This makes moving your coin around from wallet to exchange extremely easy. Oh, and let’s not forget the fees. Unlike Ethereum and Bitcoin which have large fees for transactions, Algorand’s fees are always 0.002 algos. Basically a penny. So not only can you transfer algos quickly, you can transfer them cheaply.

DeFi Apps are Growing on Algorand’s Blockchain

There’s a whole list of DeFi applications available on Algorand’s blockchain (https://www.algorand.com/ecosystem/use-cases). My personal favorite as of late is Yieldly, which allows people to stake their algorand to potentially win a lottery pool of Algos and also earn Yieldly tokens. Yieldly tokens are new to the world, but I think their partnership with Algorand will likely make their own value grow — and of course Algo’s value grow as well.

Algorand is Safe

Algorand is extremely safe. A lead architect from MIT who pioneered several aspects of crypto-currency technology. A handful of brilliant people working together to propel and develop the project. It is unlikely that Algorand can fail, it does not promise more than it can give and the team releases stable and wise updates regularly. Their goal is to not grow fast and go to the moon tomorrow, their goal is to create a practical currency of the future. Getting in now helps you grow with Algo. Oh, it’s also proof of stake which makes it environmentally friendly.

Algorand is Cheap to Get Into Right Now

Because of the extreme market volatility ongoing in the market right now, prices have been fluctuating quite a bit over the last few weeks. Back in April and May Algorand went as high as $1.83 a coin. Currently it hovers between $0.70 to $0.90 cents. Bitcoin’s collapse is heavily impacting the price of Algorand, but it doesn’t matter because Algorand will survive the fall of Bitcoin easily.

Developers Can Win Big with Algorand

Bounty Hunter programs that allow developers to get paid for eradicating bugs in Algorand’s code, easy development with python, rust, C++, or javascript, and easily launch your own Algorand assets (tokens or coins) onto the Algorand blockchain. You can create a DeFi application that fills a niche easily and start earning money on your product. Because of the affordability of the coin and the ability to easily transfer it quickly, DeFi products popularity on Algorand blockchain will grow exponentially in the next few years.

I think Algorand is the cryptocurrency of the future. While everyone has their favorite coin, I personally find Algorand to be the most advanced, easy to use, wealth growing coin available worldwide as of now. Jump aboard the Algorand train today if you want to start growing your bags!

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