How to Sell ALGO?
Whatever your reason, there may come a time when you’ll want to sell your Algorand (ALGO) for another cryptocurrency (or just plain-old dollars or euros).
The good news is that if you’ve decided to sell your ALGO, Kraken is now one of the first major exchanges to offer an active market. This means that, depending on when you sell your ALGO, you’ll be likely to find a buyer on our exchange.
Before you begin, make sure you understand the implications of your sale. Depending on when you bought Algorand, you may be selling it at a profit (or loss), which could have implications for your portfolio and tax filings.
If you’re sure you’re ready now, follow our step-by-step guidelines on how to sell algorand below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some Algorand!
New to crypto?
If you’re newer to crypto and looking to learn more before you buy or sell, be sure to check out our “What is Algorand?” guide for a more comprehensive deep dive.
Why Sell ALGO?
Depending on your risk tolerance and investment allocations, you may also find it advantageous to sell ALGO for other cryptocurrencies or fiat. You might sell ALGO if you want to:
- Sell your ALGO for crypto or a fiat currency
- Capture gains (or avoid losses) in times of price volatility
- Realize gains from previous ALGO purchases
How do I sell ALGO on Kraken?
- Sign up for a Kraken account
You’ll need a username, email address and, something else we highly recommend, a strong password.
- Verify your Kraken account
You’ll have to provide your name, birth date, country of residence and phone number. If you own ALGO, you can deposit and sell it today.
- Send ALGO to Your Kraken Address
If you want to sell ALGO for another cryptocurrency (like BTC or ETC), begin by generating a deposit address and moving your ALGO to that new address to officially deposit your crypto.
(Note: Once you send your ALGO to Kraken, your cryptocurrency will no longer be generating staking rewards. So, if you change your mind and want to continue earning ALGO, you’ll need to send your ALGO back to another wallet).
For more details on how Alogrand works, read our “What is Algorand?” guide.
- Start selling ALGO
Once funded, you’ll be able to sell your algorand.
Next, open the New Order page, fill out our order form and click SELL. Check our charts to pick the right time (or monitor the market to your liking).
If you run into any trouble selling your ALGO, our crypto exchange specialists are here to help. Our support staff is online 24/7, meaning you can always reach us on LiveChat or by email.
If you’re ready to take the next step and want to sell some ALGO, click the button below!