Is Algorand(ALGO) a good investment?

Devendra Singh Khati

Managing risks and maximising gains are the goals of investments. Over the last few decades, risk-averse Indian investors have had the option of investing in assets such as fixed deposits, gold, and even real estate for guaranteed returns. Higher-risk assets, such as stocks, derivatives, and other managed funds, have remained exclusive to a few top-tier investors with the means and knowledge to access such markets. In the post-pandemic world, beating inflation with low-risk assets is difficult. Enter cryptocurrencies, a new asset class with high potential, accessibility, and risk management capabilities.

Why 2021 is the Best Time to Invest in Algorand (ALGO)?

Algorand is a decentralised network that aims to solve blockchain’s three main problems: speed, security, and decentralisation. MIT professor se Micali developed it. Algorand is a Proof-of-Stake (PoS) cryptocurrency that distributes rewards to its users. Its decentralised nature and robust network allow it to manage high-throughput requirements.

As a public smart contract that uses staking, Algorand is capable of supporting decentralised application development. Due to the rise of Ethereum’s gas fees, many developers are turning to alternative blockchain solutions such as ALGO. ALGO is a cryptocurrency that is built on the Algorand network.

How Does Algorand (ALGO) Function?

The base layer of Algorand is a two-tier blockchain structure. Its features include smart contracts, atomic swaps, and asset creation. The first layer of the Algorand blockchain allows users to create automated tokens that represent new or existing tokens on its platform. These tokens can be easily verifiable through the use of smart contracts.

The second layer is reserved for more complex dApp development and smart contracts. By separating the network between Layer 1 and 2, transactions can be processed more efficiently. Pure Proof of Stake is a unique variant of Proof of Stake that Algorand uses. It is a decentralized consensus mechanism that has a low minimum staking requirement

It is the ideal time to start investing in Algorand since it has enormous potential and is undervalued. The current price of Algorand while writing this blog is 142 rupees. Algorand is an ICO (Initial Coin Offering) that was launched in 2018. It was a good ICO, with a total of $60 million raised in 2019.

Even after facing a massive downtrend in the significant cryptocurrency fall in May 2021, Algorand has been able to give its user a considerable amount of return. According to the Algorand blockchain’s genesis, 10 billion ALGO were minted. The distribution of the fixed and immutable 10 billion ALGO will end in 2030, rather than 2024, as previously planned.

To start trading and investing in Algorand and other cryptocurrencies, a reputed exchange is mandatory to have a cryptocurrency account that allows you to buy Algorand in India.

Crypto exchange is a broker that allows you to trade Algorand in India and other cryptocurrencies. Suppose you are interested in buying ALGO in India and getting the best pricing effortlessly and quickly. In that case, BuyUCoin Exchange is the only platform you need. It allows you to even invest in Algorand by using your debit card MasterCard NEFT or UPI.

  • Algorand has been on the rise in the past couple of months and is considered an up-and-coming cryptocurrency that can generate massive returns in the future.
  • Looking at the current scenario, as more and more companies use the Algorand blockchain, ALGO tokens will prolifically become more popular.

The Algorand token is expected to regain the former heights shortly; as a result, Algorand looks like a perfect opportunity and choices available to the investors to buy at this point.

Algorand offers numerous reasons to the users for investing in it:

  • The key promise of blockchain is to remove the cost and pain of doing business in today’s world. With Algorand, anyone can transact anywhere globally without relying on intermediaries or artificial delays.
  • Its decentralised nature and unique rewards structure make it an ideal choice for anyone who wants to participate in the network.
  • ALGO block is made every 4.5 seconds, which is 120 times faster when compared with Bitcoin.
  • The blockchain is capable of carrying out transactions at a more accelerated pace when compared with its competitors.

Worth buying Algorand (ALGO) in India?

The current price of Algorand in India is 142.55 with a 24-hour trading volume of ₹11,679,759,952 and a market cap of ₹248,865,565,226. There are 3,450,493,273 ALGO coins in circulation.

In response to the slow transaction times of Bitcoin and other blockchains, Algorand was created to speed up transactions and improve efficiency. Because it is based on a permission less pure proof-of-stake (PoS) blockchain protocol, Algorand has lower transaction fees and no mining (unlike Bitcoin’s energy-intensive process).

Algorand’s distinguishing characteristics

  • Non-Forkable Blockchain: Forking is a process when a blockchain splits into two. The uncertainty that follows is caused by the fact that both branches are still in existence. Each block has its threshold of votes, which are then finalised in the Algorand system. A new block is marked with a block that appears forever
  • Security: Instead of carrying out a DoS attack, Algorand asks their adversaries to know who to bribe; they will ignore the attack. ALGO uses a set of tools that provide safety and code correctness for mission-critical applications.
  • Scalability: Algorand is a modular system that enables users to modify and extend its functionalities over time easily. Its robust design and modular architecture provide the necessary stability and security to keep the system running smoothly.
  • Energy Efficient: Algorand’ Proof-of-Stake is an energy-efficient alternative to traditional blockchain platforms. It’s also an eco-friendly alternative to Bitcoin and Ethereum.

Algorand Predictions: Market Sentiment

Based on our ALGO price analysis and forecast, a long-term increase in the price is expected; the price prediction for 2026 is $4.60. Keeping money invested for five years, the revenue is expected to be +400% from the current level.

The price of Algorand is expected to increase in the future as it has been giving hints in the positive direction. According to our prediction services, the price of Algorand in the future is foretasted. At $8.76 after several years.

ALGO is showing bullish signs and may create excitement among its user. The price is expected to reach $10.46 by the end of 2028.

Conclusion

ALGO is a cryptocurrency with its ups and downs, and it has a unique value proposition. Its decentralised nature makes it an excellent choice for investors. It has the potential of growing steadily or exponentially, maybe within the next couple of years.

You should invest in Algorand after understanding all the required information and then make a good decision by doing proper and correct research.

*This article is for knowledge purposes; we advise you to ask your financial experts before taking any investment decisions. *



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