Algorand is a cryptocurrency and popular with investors. If you want to know how to buy Algorand in Spain, the first step is to find a broker or exchange where you can purchase it.
To help you find the right one, we’ve reviewed some of the best crypto trading platforms available in Spain in this guide. You’ll also find a walkthrough of the buying process and everything you might want to consider before making an investment.
The easiest way to buy Algorand and other cryptocurrencies in Spain is to purchase it online from a crypto exchange. Cryptocurrency exchanges make buying and selling Algorand and other cryptocurrencies easy from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to buy Algorand safely in Spain.
The platform you pick should work specifically in Spain. It should operate within the financial services laws and ideally be regulated by a native government agency or by one recognised by local authorities. Our top picks below all fulfil these criteria.
Input your name, contact information, and other details in the sign-up form usually displayed after clicking a sign-up button on the home page. To fund your account, you must pass KYC by submitting identity and address documents like an ID and a utility bill.
Navigate to your account's explore or discover page and search for Algorand. You may see tickers like ALGO/EUR, or ALGO-USDT, depending on the platform. Purchase Algorand directly using a funding method of your choice or with your account balance.
Most crypto platforms offer Algorand and other cryptocurrencies, and a good number of them are accessible in Spain. The best options are reviewed below.
At the top of our list is eToro, a trading platform with unique social investing features. As a regulated and secure platform with an intuitive interface, it is the best place to purchase Algorand quickly and easily.
What makes eToro stand out from competitors is its innovative CopyTrader feature. You can choose a professional ALGO trader based on their returns and risk appetite, and automatically copy their trades. The platform is also great for connecting with other users and sharing ideas.
The are more than 70 other cryptocurrencies available on eToro, as well as traditional asset classes, such as stocks, ETFs, and forex. It’s easy to diversify and use thematic investment strategies with the smart portfolios feature.
Find out which assets are trending and surging in the Discover tab, and add them to your watchlist if you want to set up price alerts. In the News, Stats, and Research tabs, you’ll find all the tools and data you need to conduct fundamental and technical analysis.
eToro is a reputable platform that is licensed to serve EEA countries through its regulation by CySEC. You can trade with peace of mind thanks to leading security measures such as offline storage, SSL encryption, and free insurance.
You will need to deposit at least $50 (about €51.50) to get started on eToro, and you can do this via card, bank transfer, PayPal, Skrill, Neteller, Klarna/SOFORT, Rapid Transfer, or Trustly. Deposits are free, and the minimum amount of ALGO you can purchase is $10 (about €10) for a fee of 1% plus spread.
For more info, read our eToro review.
Regulated and secure
Deposits are free
Some competitors offer more cryptocurrencies
Contracts for difference (CFDs) enable you to profit from changes in Algorand price without actually owning any ALGO, and Capital.com is the best place to trade Algorand CFDs for users of all experience levels.
CFDs are high-risk instruments, but Capital.com’s tools, such as negative balance protection, help you manage the risk. Beginners can access free financial education through the Investmate app, and Capital.com also provides trading guides, online courses, and a virtual account where you can practise risk-free.
Those with more experience will appreciate the ability to trade with leverage of up to 30x, as well as the platform's range of advanced trading and analysis tools, including price alerts, client sentiment, AI-powered post-trade analysis, and more than 70 technical indicators.
Capital.com is a multi-asset platform, and in addition to Algorand CFDs, you will have access to CFDs for hundreds of other cryptocurrency pairs and other types of assets, like stocks, forex, indices, and commodities.
The platform will keep your funds safe in a segregated bank account, and it is licensed to operate in Spain by CySEC. The Algorand CFDs have a spread of about 66, and the overnight trading fees can vary.
Capital.com doesn’t charge commission or any fees for deposits or withdrawals. To start trading, you will need to deposit at least $20 (about €20.50), and the available payment methods in Spain are credit card, debit card, bank transfer, Apple Pay, or SOFORT.
For more info, read our Capital.com review.
Tools for advanced trading
Deposits and withdrawals are free
Spreads aren’t the tightest
Only offers CFD trading, which is high risk
OKX is designed to meet the needs of all types of traders. The customisable charts and technical indicators will assist with analysis, and you can trade with leverage and a variety of order types. If you want to trade derivatives of Algorand, you can choose from futures, options, and perpetual swaps.
For a simple trading experience without all the bells and whistles, you can use the buy with card feature for fast and simple Algorand purchases, and the Convert feature to swap between Algorand and other cryptocurrencies without fees. There is also a good range of educational materials available in the Learn section.
More advanced traders may appreciate the trading bot, which they can use to set up recurring buys, smart portfolios, and arbitrage orders. There are also block trading facilities that provide access to multi-leg strategies, world-class APIs, and RFQ for large-sized spot.
Algorand is just one of more than 340 cryptocurrencies available on OKX, and the Earn section provides a variety of ways to grow your crypto holdings. These include savings accounts, staking, dual investment, fixed income, flash deals, and DeFi.
Users can be confident in the security of their ALGO and other coins thanks to the platform’s offline storage with emergency backups and the semi-offline multi-signature mechanism that OKX uses for its online storage.
When making an instant card purchase on OKX, there is a 1.99% fee, and the minimum order size is €11. Alternatively, you can deposit crypto to your OKX account for free. As an example the minimum Bitcoin deposit is 0.00005 BTC, the minimum trade size is 0.00001 BTC, and the fees are 0.1% or less.
340+ other coins
Advanced tools for trading and analysis
Low trading fees
No fiat deposits
Bit2Me is an all-in-one crypto platform based in Spain. It provides cryptocurrency exchange and wallet services, as well as ways to spend your crypto and earn rewards on it. The platform also provides educational articles and free courses for those who want to learn more about crypto.
You can access the platform on a computer or through the app on your smartphone. Bit2Me is very intuitive to use, even for those without any crypto experience. Your assets are clearly displayed in your wallet, and you can easily buy or sell Algorand or any of the 180+ other cryptocurrencies with just a couple of clicks.
The Pro platform caters to more experienced users, with its advanced charting features, technical indicators, and choice of order types. There is also a Premium platform, providing OTC trading and customised benefits for large investors.
The Earn section provides a free way to earn rewards on your crypto, paid daily, weekly, or monthly. It offers up to 106.13% on different cryptos, and you can start earning with just one click. Other services offered include the Bit2Me card, free global payments, and a Launchpad for discovering new tokens.
Bit2Me’s proprietary cryptocurrency, B2M, can be staked on the platform and provides benefits such as discounts, airdrops, partner perks, ICO whitelists, and access to higher APY. What’s more, Bit2Me is a regulated company that is registered with the Bank of Spain and uses 100% cold storage.
You can get started on Bit2Me by depositing a minimum of €1, which you can do for free by bank transfer or Tikebit, or for a 1.99% fee by credit/debit card. The minimum amount of Algorand you can buy is €1, and there is a 0.95% fee.
Regulated in Spain
Easy to use
Earn up to 106.13% on your cryptos
Limited payment methods
Our guide focuses on eToro as it is our overall best place to buy Algorand in Spain. However, these steps can be applied to other crypto exchanges in this guide.
Click on the Start Investing button on the homepage to get started. Fill in your details on the signup form and create an account. You can also download the mobile app from the Play Store/App Store and do the same.
You'll receive an email verification link when you create an account. Click on it to start the process. Complete your profile by submitting details like your date of birth and a passport photo, after which you submit KYC documents. These documents include proof of ID (national ID or driver’s licence) and proof of residence (such as a utility bill).
Once your account has been verified, click on Deposit Funds on the left pane of your dashboard. The deposit options available will be displayed. Choose one and set the amount you’d like to deposit. You can deposit euros directly using credit cards, bank transfers, PayPal, Skrill, Neteller, Klarna/SOFORT, Rapid Transfer, or Trustly.
Search for Algorand in the Discover tab. An interface like the one below should load. You can buy immediately at market price or set a price you’d like to buy at.
We cannot outright say whether or not Algorand is a good investment. However, we can give pointers to help you arrive at that decision yourself.
Firstly, Algorand is decentralised. It does not depend on governments to legitimise it or companies to run and maintain its blockchain infrastructure. Transactions are free from many of the controls and drawbacks of traditional finance networks, like high fees for international transfers.
As the digital age progresses, more components of our lives will be moved to the digital space. Crypto technology mathematically safeguards digital assets and places ownership with users, making it crucial for a free digital future.
Cryptos are generally very liquid and portable assets. They can be bought on one crypto exchange, moved to another cryptocurrency exchange in a different country and sold in a matter of minutes, creating a way to move wealth easily.
Algorand has a track record of delivering high returns on investment, either due to its volatility or more fundamental reasons like growing adoption and institutional interest. Combining this with the fact that blockchain technology is still in its early stages, the growth (and profit) potential is significant.
Crypto can be used as a long-term store of value, especially those that are scarce, like Algorand. Because supply is capped, the value of finite coins are projected to grow over time, provided demand grows. This makes Algorand a possible long-term alternative to gold.
Algorand is a digital asset that can be used as an asset class when building a diversified portfolio. Its equity potential (the possibility of increasing in value) makes it worthy of consideration for modern portfolios.
There are downsides to buying Algorand. The first is its volatility. Crypto is known to swing wildly, losing significant portions of its value within a few weeks and often leaving investors reeling from losses.
There is also a risk of rug-pulls, blockchain attacks, and wallet hacks. These are technological risks that involve an attacker hacking a crypto’s blockchain network or your wallet and usually end with funds getting stolen.
Finally, crypto at large is still the target of legal crackdowns and harsh regulatory policies that could stunt its growth and adoption rate.
Ideal payment methods should support the euro natively, and while not all platforms allow deposits in euros, these are the methods you can easily use to buy Algorand in Spain.
Credit or debit cards are probably the most accepted payment method across platforms but also the most expensive. eToro doesn’t charge trading fees, but those of Binance and Coinbase are 1.8% and 2.49%, respectively. On other platforms, fees generally range from 1% to 3%.
Local bank transfers through a Spanish bank account are available for all platforms listed. It is free on eToro, Capital.com, and Bit2Me, and costs €1 on Binance. A conversion fee may be charged for deposits in currencies other than the account-denominated currency.
PayPal is one of the most popular payment services and electronic wallets in use today. However, it is not as widely supported as the first two payment methods. eToro and Capital.com do support PayPal, though.
An alternative is to use cash or a card to buy ALGO at a Algorand ATM. However, this is less convenient than using an online platform and some Algorand ATMs charge exorbitant fees. There are 260 crypto ATMs across Spain, including 58 in Barcelona, 41 in Madrid, and 17 in Valencia.
There are several ways to gain exposure to Algorand and profit from its price movements in Spain. This section dives into them and how they relate to Algorand.
The buy-and-hold strategy involves buying Algorand and holding it for a long time, usually as long as you can. This strategy is popular in the industry as it has proven to be effective over long periods, usually years.
This strategy can be varied using a buying technique called dollar cost averaging (DCA), where you buy a set dollar amount of Algorand at fixed intervals regardless of price.
This strategy profits from Algorand’s volatility. Trading ALGO involves relatively short-term buying and selling, usually from as little as a day to as long as a year. Positions held for longer are often classified as investments.
Trading creates an opportunity to explore other financial derivatives like futures, options, and CFDs that give traders exposure to ALGO’s price movement without the need to buy the coin. It also allows for leverage facilities that can magnify traders’ wins (or losses).
Wallets are important because they store your valuable cryptos, so choosing the right one is crucial. Crypto wallets are generally split into hardware and software wallets. Hardware wallets store cryptos offline on a device while software wallets store cryptos online and are always connected to the internet.
Web wallet: These wallets come as either browser extensions or web apps that store your private keys in your browser. Web app variants are accessible through any browser. However, the extension variant must be installed on a new browser, and a seed phrase must be used to recover your wallet. eToro, Binance, and Coinbase provide free web wallets that store Algorand.
Mobile wallet: This wallet is a mobile app downloadable from the Play/App stores or the internet. Binance’s mobile wallet is called Trust Wallet, and it supports Algorand.
Desktop wallet: This is an application that runs on your computer and stores your private keys on your hard drive. There are several desktop wallets available depending on the level of control you want and your familiarity with blockchain technology. However, a good option for beginners is the Electrum wallet, available for Windows, Mac, and Linux PCs.
Hardware wallet: A hardware wallet is a physical device that stores private keys offline. They are much harder to hack and are currently the safest storage option. Hardware wallets that support Algorand include Trezor and Ledger.
Paper wallet: A paper wallet is a piece of paper with public and private keys printed on them. While they are a good way to keep your private key offline, they are not recommended as you may lose the paper or the ink could wear off with age. Paper wallets have gone out of fashion since the advent of hardware wallets.
You can combine two or more wallets for added security or a better user experience. For example, you can use a hardware wallet like Ledger with a web wallet extension to buy coins on a decentralised exchange and immediately send them to your hardware wallet.
Whether or not you should buy Algorand now depends on the state of the economy, your investment goals, your risk tolerance, and the cost of investments. Consider these factors when making a decision.
The total cost of buying Algorand is made up of trading fees, network fees, exchange fees, and deposit fees across exchanges.
The network fee is the charge the blockchain takes for processing transactions. This fee usually goes to computers that help secure and run the network. It could rise and fall based on the volume of transactions for certain blockchains. However, newer networks are built to accommodate high volumes without significant changes to transaction fees.
Exchange fees are charged for conversion, trading, or other related services. Some platforms are cheaper than others in certain regards. For example, conversions on Binance are cheaper than eToro at 0.1% per trade compared to 1% charged by the latter.
However, eToro trumps Binance when it comes to deposits as it supports free deposits, while Binance charges €1 for bank transfers and 1.8% for credit card payments.
Aggregate the costs of using various components of an exchange to obtain a holistic view of the cost of using that exchange, then compare it with others to find a cheap option.
Algorand’s price is known to change rapidly and swing widely, i.e. change quickly and by a considerable amount. For traders, this is good news as it presents opportunities to profit from this volatility.
Long-term investors, on the other hand, may not be too bothered by short-term fluctuations as historical prices show an overall uptrend with pocket downtrend periods. In the long-term investment case, a simple buy-and-hold strategy, or one combined with a DCA strategy, may prove effective.
Security is of the utmost concern when dealing with cryptocurrencies and the exchanges that sell them. The first thing you should observe is the exchange’s regulatory status. The ideal situation is when the exchange is registered in its country of operation.
However, this is not always the case. Crypto exchanges sometimes offer services to users in certain geographical regions using entities registered in a nearby jurisdiction or in a jurisdiction where regulations allow them to onboard users from other countries.
In this case, ensure the regulatory agency is transparent and enforces industry-standard security and legal practices.
Buying Algorand anonymously is not as easy as some may assume due to widespread regulation on all major exchanges and platforms. The key to remaining anonymous is to refrain from providing personally identifiable data. Platforms require this to varying degrees.
Crypto ATMs are a way to buy crypto anonymously. They only require the money with which you buy crypto and the wallet address you want to send it to. Currently, most ATMs are limited to Bitcoin, Ethereum, and Litecoin, but more are popping up with support for more coins.
Another method is using prepaid cards to purchase cryptos on peer-to-peer markets. You send the code to the counterparty, and they send your crypto. Visa offers prepaid cards, but you’ll need to ensure you won’t have to give up personal details to obtain one.
Yes, it is legal to buy Algorand in Spain, but cryptocurrencies are not considered legal tender in Spain. The Spanish securities regulator (CNMV) and the Bank of Spain jointly advised on the risks associated with cryptocurrencies in 2018.
Since then, the Spanish government has published laws to prevent money laundering and tax evasion associated with cryptocurrencies, and in October 2021, the Bank of Spain implemented a register for providers of crypto exchange and wallet services.
The below information provides details of banks you might want to use to buy Algorand.
Santander is one of the most popular banks globally. Although Santander has blocked its UK users from making deposits to Binance, the bank still processes payments to other crypto platforms and in other countries. Santander also has plans to launch a Crypto ETF in Spain.
Spain’s second-largest bank, BBVA, doesn’t block payments to crypto platforms. In fact, BBVA has a history of engaging with crypto—it was among the first banks to integrate blockchain onto its platform and has plans to launch crypto trading and custody services in Switzerland.
CaixaBank is based in Valencia and is Spain’s third-largest lender. You can use the bank to make deposits to crypto platforms, and CaixaBank has even launched its own blockchain platform, we.trade.
Yes, the Agencia Estatal de Administración Tributaria (AEAT) views crypto as an asset for tax purposes. If you make capital gains when disposing of your Algorand, you will need to pay income savings tax at a rate of 19-26%, depending on the size of your profit.
You may need to pay income tax if you have earned crypto, such as through mining or getting paid in ALGO. Wealth tax may also apply in some regions of Spain. If you live in one of these regions, you will need to include the value of your crypto on your tax return.
You are required by the AEAT to keep detailed records of your crypto transactions. The information you need to record for each transaction is the date, value in euros of the crypto at the time of the transaction, the purpose of the transaction, and the identity of the other party involved, such as their wallet address.
The best platform for buying Algorand in Spain depends on a range of factors, including features, ease of use, security, and fees. We believe that eToro is the best platform overall as it ticks all the important boxes.
As well as being very user-friendly for traders of all levels, eToro is a regulated platform that supports free deposits via a range of payment methods and provides innovative social investing features that you can’t get anywhere else.
Check out more of our popular crypto guides for Spain below.
We decided on the best platforms by first testing them individually. Our criteria for assessment includes fees, deposit and withdrawal methods, reputation, credibility, security, ease of use, trading features, coin selection, and competitive edge.
The platforms listed on this page are ones that we found to be the best at the features we listed them under, e.g. best platform for advanced Algorand trading. All platforms have a track record of providing value to users.
We also placed an onus on security and credibility. These platforms have millions of users and employ some of the highest security measures in the industry.
Finally, we considered trading fees and limits. These platforms have various fees and deposit/withdrawal limits, but they are all within reasonable limits.
To learn more about how we test and choose platforms, visit our why trust us and how we test pages.
We think that eToro is the safest way to buy Algorand in Spain as it is regulated, has industry-leading security measures, and has achieved a strong track record over its many years in operation.
The cheapest way to buy Algorand in Spain is through Binance, where you can deposit for free with certain payment methods and buy ALGO for a fee of 0.1% or less
You can sell your Algorand in Spain by using an online crypto platform, such as the ones described on this page. It is very similar to the buying process—just fill in the amount you wish to sell in a sell order.
The smallest amount of Algorand you can buy depends on the minimum trade size for your trading platform. For example, the minimum is $10 (about €10) on eToro.
If security is your top priority, a hardware wallet such as Trezor or Ledger is the best place to store your Algorand. If you’re looking for a free and convenient place to store your ALGO, you can use a web wallet provided by a trading platform like eToro.
Yes. Trading platforms such as OKX enable you to buy your Algorand with euros directly. Other platforms, like eToro, are denominated in USD, but you can make a deposit in euros, and it will be converted.