How to Purchase Algorand (ALGO) using Bitcoin (BTC)

To buy Algorand using Bitcoin, first, find a cryptocurrency exchange that supports the ALGO/BTC trading pair, such as Nexo, Binance, BTSE or Coinbase. Create an account, verify your identity, and deposit your BTC into your exchange wallet. Locate the ALGO/BTC pair on the trading platform and place an order to exchange your Bitcoin for Algorand. If the ALGO/BTC pair is unavailable, you can first exchange Bitcoin for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Algorand. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.