Moved some BTC to Algorand (ALGO)

Btc has been pretty choppy today so I sold about $1k from my $11k btc lot at around $38k and converted it into ALGO.

I have been pretty happy with the move. I’m new to ALGO so I have a majority of my coin still on Coinbase earning 6% apr plus any capital appreciation. So far I’ve earned about 11 additional ALGO since I just started holding it.

I’m digging into the project as it seems to have a smaller and passionate community not too unlike ours. After chatting with some ALGO enthusiasts they informed me that transferring coins to the an ALGO wallet would up my apr to 7.7%.

So I went over to the IOS App Store and downloaded the wallet and set it up in about 3 mins.

The app design is user friendly and I made my first transfer from Coinbase in less than a min. It was a pretty simple task for an additional 1.7% apr.

So what is ALGO and what does it do?

Algorand’s platform was designed from the ground up to power complex applications that require speed, scale, finality, and security, while being cost-effective and precise. SMART CONTRACTS Comprehensive smart contract capabilities enable DeFi solutions and dApps that can scale to billions of users, tens of millions of daily transactions, with negligible transaction fees ASA Algorand Standard Assets are standard blockchain assets with customizable options, directly in Layer-1 ATOMIC TRANSFERS Secure transfers and immediate transaction settlement for multiparty transactions built in Layer-1

source

As for media there is some older articles, but it looks like there’s active project using or moving to use ALGO

Chart ALGO has been trading in a range from $0.39-0.50. It looks like we are pushing up against that $0.50 resistance and if we can break through I think we can take out the $0.60 range which will push is to the one year $0.77 high. Obviously, BTC’s movement will influence bullish movement.

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