What’s the best global exchange for people who love Algorand (ALGO)?
The answer, as of today, is Huobi Global!
We’re thrilled to announce that after an intensive months-long collaboration with the Algorand team, Huobi Global became one of the first exchanges to list ALGO – and the very first (and so far only) global exchange to support staking rewards for ordinary users that hold this innovative cryptocurrency!
ALGO is now tradable on Huobi Global against Bitcoin (BTH), Ethereum (ETH), and Tether (USDT).
What Is Algorand?
Built by an all-star team with deep roots in academic theory and science and led by Turing award winner Silvio Micali, Algorand is generating a lot of buzz in the crypto community these days. The innovative heart of the project is its pure proof-of-stake (PoS) consensus method, which is designed to crack the so-called ‘impossible triangle’ by striking the optimal balance between scalability, security, and decentralization. Featuring backers like Union Square Ventures and Foundation Capital, Algorand is helping to push forward frontiers of cryptocurrency and blockchain!
How Has Huobi Helped Make A Great Thing Even Better?
As innovative as Algorand is, at least one issue exists for users of exchanges. Specifically, unless you stored your tokens in a private wallet, ordinary users could not enjoy staking rewards for holding ALGO – that is, until today.
Working closely together, the Algorand Foundation and Huobi Global have implemented a number of technological upgrades that solve this issue. Rewards now accumulate for Huobi users who hold ALGO. Huobi Global will distribute the rewards to the users on a regular basis.