Menu Close

How to Withdraw Alogrand to your Wallet: Step by Step

Welcome to this post, where we are going to see how you can withdraw Algorand to your wallet and use it in any exchange or DEFI platform.

For this, we will use Binance and Algorand Wallet, Binance is the most used exchange and the one I personally use, but the operation is the same or very similar in other exchanges you may use. If you want to follow the step by step guide, you can create an account with binance just below.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5

Algorand Wallet is one of the most used wallets, and you can use the Algorand network without problems. Also if you use another wallet with the Algorand network, you should not have any problem and the operation is the same.

From Binance to Algorand Wallet in Algorand

If you already have Algorand purchased in your Binance account, the next step is to withdraw it to your wallet. To do this, we will go on the computer to wallet and spot wallet. In the case of mobile, search for the Algorand cryptocurrency and click on withdraw or withdraw.

On the computer, in spot wallet look for Algorand, and click on withdraw. Now you will see the panel to withdraw the cryptocurrency. Here, we must open our Algorand Wallet, and click on the top, under the name, where it will copy the address of our wallet. With the copied address, we go back to Binance and paste it where it says address.

We continue with Network, where we will indicate the Algorand network, if you want to use ALGO on its own network and on Algorand’s DEFI platforms. Currently you cannot withdraw SOMETHING to networks other than your own.

Above all, make sure that you indicate the correct network to avoid confusion. With the network, you only need to indicate the amount you want to withdraw. In the case of Algorand’s network, the withdrawal fee is 0.01 SOMETHING.

With the information confirmed, you just need to click on withdraw, confirm the confirmation codes and after a few minutes, you should see your ALGO in your wallet.

So, if you click on the networks above, the Algorand network will appear. Click on it, and it should show the Algorand you have sent through Binance.

This way, you can have your ALGOs on the Algorand network to be able to use all the DEFI applications and platforms. I hope this has helped you to withdraw your Algorand without losing them along the way. Remember, if you don’t have an account with binance, you can create one just below.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5

Leave a Reply

Your email address will not be published.