It is not just crypto and the markets which are picking up speed, Bitpanda is adding new assets for you to trade almost as quickly as the markets are growing. We want to make sure that we add the assets our community wants to trade. After adding our first DeFi tokens and another six right after, ANT, BTT, DGB and OCEAN were the next assets to join. Now another DeFi coin, Algorand (ALGO), is the newest addition to our asset family.

About Algorand (ALGO)

Algorand (ALGO) is a decentralised, secure and scalable open-source blockchain project aiming to solve the “trilemma” of high security, high speed and low cost to achieve “frictionless finance”.

The Algorand network is based on a Pure Proof of Stake (Pure PoS) consensus mechanism with new blocks created during two phases and where user participation is proportional to user stake.

Algorand finalises blocks within seconds, thereby also reducing computational costs for participating in the blockchain to a minimum, thus greatly reducing transaction costs. As the first blockchain to provide immediate transaction finality without forks, the Algorand project is working towards a decentralised, borderless economy.

Algorand’s native coin, ALGO, can be used to pay for transaction fees and DApp computations, as well as for staking and earning in the Algorand network. Find out more about Algorand (ALGO) on their official website.

And now get ready for our ALGO trading competition.

Trade and win part of a €15,000 reward in ALGO!

To celebrate the listing of ALGO on Bitpanda, we are celebrating with a huge ALGO trading competition! Our trading competition starts at 12:00 PM CET on the 25th of February, 2021 and ends at 11:59 AM CET on the 4th of March, 2021. Ready to win? Here are the prizes:

Prize 1: €2,000 worth of ALGO for the trader in 1st place

The trader ranked in first place with the highest total amount of ALGO purchased will receive €2,000 in ALGO!

Prize 2: €1,250 worth of ALGO for each trader ranked 2nd to 5th place

The traders ranked between 2nd to 5th place with the highest total amount of ALGO purchased will each receive €1,250 in ALGO!

Prize 3: €800 worth of ALGO for each trader ranked 6th to 10th place

The traders ranked between 6th to 10th with the highest total amount of ALGO purchased will each receive €800 in ALGO!

Prize 4: €400 worth of ALGO for each trader ranked 11th to 20th place

The traders ranked 11th to 20th with the highest total amount of ALGO purchased will each receive €400 in ALGO!

Prize 5: €150 worth of Bitcoin (BTC) for 100 randomly selected traders

As a bonus prize, 100 traders (outside of the 20 winners from the prizes listed above) who are not residents of the Republic of Turkey, who are BEST VIP level 1 and above and who trade any amount of ALGO will be randomly selected to receive €150 worth of Bitcoin (BTC) each!

Please note that the exclusion of the residents of the Republic of Turkey from being selected as VIP-Winners is based solely on the legal requirements of the Republic of Turkey.

Good luck everyone - trade ALGO now!

You can read the terms and conditions here and we will credit the winners within one week to their Bitpanda ALGO wallet.