Crypto

3 Steps To Send ALGO To An Algo Wallet

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If you own some ALGO, you may be looking to send it to your ALGO Wallet.

Here’s a guide on how you can do so:

How to send ALGO to ALGO Wallet

Here are 3 steps to send ALGO to your ALGO Wallet:

  1. Select a platform that enables ALGO withdrawals via the Native ALGO network
  2. Obtain the ALGO deposit address from ALGO Wallet
  3. Send ALGO from the platform of your choice to ALGO Wallet

Here is each step explained further:

Select a platform that enables ALGO withdrawals via the native ALGO network

The first step you’ll need is to find a platform that supports ALGO, and you are able to send ALGO to ALGO Wallet via the native ALGO network.

Here are 5 platforms for your consideration:

PlatformNative ALGO
Binance0.01 ALGO
Crypto.com0.5 ALGO
FTX0 ALGO
Gate.io0.1 ALGO
AAX0.01 ALGO

You may notice that FTX charges the cheapest fees for Native ALGO withdrawals.

Obtain the ALGO deposit address from ALGO Wallet

When you are on the homepage of your ALGO Wallet, you will need to tap on ‘Receive‘.

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You are only able to deposit ALGO to your ALGO wallet via its native chain (ALGO).

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This allows you to view and copy the native ALGO address.

You may notice that this address that not start with ‘0x’, as Algorand is not an EVM-compatible network.

Send ALGO from the platform of your choice to ALGO Wallet

After you have copied the deposit address from ALGO Wallet, the last step would be to send ALGO from the platform that you’ve selected previously.

In this example, I will be using Binance to send ALGO.

bi7yzpiFiLUy8o8q4fxGhZUW DO556NE8a4eIZ2GbXKVsQymgiwSbDbf oyh4EIdd5ZoaPSKi8f5Op5kIzBoTg2hdo pqfehEqxrLmPe6l PXHqo8

After pasting the address, Binance automatically determines the type of network that will be used (ALGO).

Once you have confirmed the transaction, you will be able to receive ALGO in your ALGO Wallet.

Conclusion

When you are sending ALGO to ALGO Wallet, you are able to send it via its native chain (ALGO).

Alternatively, you can send ALGO to your Exodus wallet to stake it there.

If you’re looking to generate tax reports for your crypto trades, you can consider using Koinly, which allows you to track your transactions from 350+ exchanges and 50+ crypto wallets.

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