How to Buy Wrapped ALGO Crypto (XALGO)
What is Wrapped ALGO(XALGO)?
According to Coingecko, Wrapped ALGO is : Glitter Finance has built an advanced cross-chain bridge to allow cross-chain interaction between supported chains and allow multi-chain profit optimization by eliminating capital inefficiency for DeFi traders through asset redeployment on integrated yield farms. The Wrapped ALGO (xALGO) is a fully collateralized representation of ALGO on Solana.
Where can I buy XALGO Crypto?
You can buy Wrapped ALGO on Bonfida. One of the best Decentralized Exchanges on Solana.
How to Buy Wrapped ALGO Crypto?
Step 1 - Setting up a Phantom Wallet
Phantom is by far the most used walled in the world of Solana. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Solana Network, Phantom will be your best friend. Setting up the wallet is also very simple and easy.
Head over to https://phantom.app/download and click on the browser that you're using to download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.
You are now the Welcome Page of Phantom. Click on 'Create a new wallet' Now type your password.' Choose a strong password for your Phantom wallet and continue.
Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.
Click on reveal your backup phrase and write down every word on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, confirm everything is correct and click "Done". You should be done now with the wallet.
Step 2 - Buy Solana on Simpleswap
Simpleswap is the easiest way to buy crypto today. Free from registrations, KYC and third-party custody. With Simpleswap we can buy SOL and receive it directly on our on-chain Metamask wallet, skipping most of the steps we'd have to take through a traditional exchange.
Click here to access Simpleswap
Just click the Buy/Sell Crypto tab, insert the USD amount you want to trade for SOL, and click "Exchange", just like this:
Now we need to copy our Solana address from the Phantom wallet. Open the Phantom extension, hover your account name and click the copy button on the Solana address, just like this:
After you copy your address, just paste into here:
And click "Create an Exchange"
You can now choose between Google Pay or card to complete the payment:
Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in Metamask.
Step 3 - Swap SOL to Wrapped ALGO on Phantom
The easiest way to trade tokens on the Solana Chain is right on the Phantom wallet. Select this tab at the bottom
Before we swap SOL for XALGO, we need to prepare your Phantom Wallet to receive Wrapped ALGO. Open Phantom, Click "Manage Token List", and press the "+" this icon on the right.
This operation will have a small cost in SOL as you can see above.
Now fill in like this:- Mint Address: xALGoH1zUfRmpCriy94qbfoMXHtK6NDnMKzT4Xdvgms
- Name: Wrapped ALGO
- Symbol: XALGO
Click "Add", confirm and you should be done
You can check the price and confirm the correct token address of Wrapped ALGO on Coingecko.
Let's buy some Wrapped ALGO!
Click on this tab to access the swap tools
About You'll see the swap details. You now need to select the token you want to trade SOL to. So click on the token that you'll receive and choose Wrapped ALGO
Now select the amount of SOL you want to trade to XALGO
Make sure everything is correct, confirm and accept, and you should be done!
Wait a few minutes, and your XALGO should appear on your Phantom Wallet.
Congratulations! You are now a proud Investor of Wrapped ALGO!
Why should you buy Wrapped ALGO?
Wrapped ALGO is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.
Check out Wrapped ALGO links:
Please make sure you read our Disclaimer. We are not financial advisors.
