84 algorand and that value increases every nine minutes. I really like having the algorand official iphone wallet on my phone, and i send everything over here and i add multiple layers of work. I guess is the best way to put it if i wanted to touch my crypto and if i'm, saving and i'm holding of the thing i want is more layers to prevent myself from rapidly on the fly being able to sell it off. So today, probably and not the greatest of detail, but in the way that i present stuff we're going to go over algorithm. You guys voted last two weeks ago in the giveaway for 500 tron, the number one vote went to cse. The number two went to algorand. So i felt it was due time and we're gon na branch out a little bit into the cryptocurrency atmosphere, nerdy dude stuff, for today's video. I invite you guys to hit that subscribe. Button 70 of the people watching my videos aren't subscribers, so it'd be amazing. If you can hit that subscribe button, we are pushing ourselves to 5 000 subscribers before the end of 2020.. I think we can do it. Don'T forget to turn on the bell notification that way, you can also stay up to date and be notified when new videos and content come out what's going on everyone. Welcome back to another video about bitcoin cryptocurrency, all that good stuff, i'm, a prize of nerdy dude, and today we are going to be talking about algorand.
Recently i have gotten into algorand and i have actually had a very pleasant experience. I really am enjoying the mobile wallet on our iphone. We are able to stake the token over there we'll get to that in just a moment and we're able to earn rewards and pretty much compound daily. We currently have 1.4 000 algorand that's worth about 372 dollars at this current moment, pulling everything up here on my phone as i'm. Looking as we go so i know right now: bitcoin is going parabolic and it's going through the roof and i know that's the hot topic of the day but i'm, not one of those youtubers. That really looks at big. I mean i look at bitcoin every single day but i'm, not one of those youtubers that's gon na turn on be like. Oh three hundred fifty thousand four hundred thousand bitcoin two hundred thousand bitcoin hundred thousand bitcoin. Here we go. I might do one of those videos and make it all like clickbaity to get people to watch it, but i like a little bit of the other currencies as well. I like to have a little bit of a passive income. I diversify my portfolio. I grow from there so today we're going to be looking at algorithm we're going to go over the coin market cap we're going to go over the volume we're going to go over the the supply, yeah, blah blah blah and then we're going to take a little Bit of a deep dive on the website and talk about the mobile wallet so with that said, let's get right into it.
Al goran is sitting currently at 26 cents it's down 4. From yesterday yesterday, we were looking at like a 29 to 30 cent algorand. I believe when mind of tron was doing his video. It was cresting at about 29 cents and it's kind of been fluctuating. There i've seen a little bit lower when i picked up a bunch and then we're we're in the profit on this currency that's. Currently, in our wallet, its current market cap is 290 or yeah, 296 million, which is roughly 16 almost 17 bitcoin worth and it's got a 24 hour volume of 68 million, which is pretty solid. Total circulating supply right now is 1.138 billion out of a max circulating out of a max total supply of 10 billion, so there's a hefty amount of this coin. It'S, not one of those coins that i'm really gon na see it maybe jump up to like five to ten dollars. Just because, usually when i see those larger circular, like total supplies, i kind of feel i go back into some supply and demand like statistics, and i think the supply is monstrous and the demand won't be nearly as big as something like ethereum litecoin uh. Those tokens that will see those bigger you know: 50, 60, 70, 80, 400, 1. 000 coins. Looking at the charts here looks like this coin came into existence around july of 2019 it's seen all time highs, uh recently actually um about two months ago of about 67 cents, a pop which is pretty significant, pretty solid.
But you know that's i'd like to see it get back to there. Let'S go and take a look at what it's been for the past week here on the chart. I know minor tron's getting heavily into charting i'm, not really much of a charting or technical analysis. Guy but um pretty pretty swingy chart really. I mean this is definitely a currency that if my crypto hopper was uh taking a stab at this would be something that i would have no problem doing some day trades and some swing trades and not really much needed into the dca settings or anything along those Lines just because it looks like it recovers and bounces pretty healthy, very, very, very solid uh market pairs, it's pretty much listed on most of the major exchanges out there. You'Ve got bitmaps crypto.com. So if you've got one of your crypto.com cards and if you haven't signed up for that already there's going to be a link in the description below to sign up for that, i did sign up under mind of tron um. I got 25 for it. He got 25 for it now. I just have to get my 2500 uh cro, so if you guys want to jump on board as well, i believe there's, like a 50 promotion, going on right now that you can claim once you put your 2500 cro in there, but you at least get 25 As well, finance bitfinex kucoin, all these other exchanges have it um, with the exception of my mobile wallet, actually holding on crypto.
com i'd, have to see what their reward rates are is not a bad option to go with we'll. Look at the website here. In just a moment as well but it's a pretty healthy, listed coin, with lots of activity on all of these exchanges, even if you're an arbitrage kind of trade, and you want to look at like binance and then kucoin and trade it around like there looks like There'S some opportunity for that as well let's see the difference actually with that example: kucoin 2614 binance 2613., so not much at the moment, but you're looking at all these other currency or these other exchanges, where you could make some arbitrage trades there. If you were savvy enough, i should say with that method anyway, let's dive a little bit more into algorand i'm. Just going to read it right off the screen, we're going to look at the website and talk about the mobile app, i don't have any pictures of mine at the moment, but i will pull up the pictures on the website and kind of talk about my experience With it algorithm today, we already went through blah blah blah blah blah blah blah. What is algorand in a nutshell on coin market cap, you can find this as well. Algorand is a scalable, secure and decentralized digital currency and transactions platform founded by turing award winner mit professor silvio mccauley algorand is a permissionless pure proof of stake. Blockchain protocol proof of stake in a nutshell.
What that means is, if you hold some of the token in one of the wallets, and that wallet supports proof of stake. Just like the iphone algorand wallet, then you will be supporting the blockchain and, as you support the blockchain, you will reap the rewards of those tokens and those blocks as they're discovered. You don't need any fancy mining hardware, you don't need a fancy phone to do it. You know you just need an iphone or an android phone doesn't matter. What model make your mileage anything like that as long as you're holding coin, you can absolutely do it. You can also do with paper wallets, and you know those wallets as well. Algorithms technology finalizes blocks in seconds, and it provides immediate transaction finality, while preventing forks algaran, does also not reward validators with newly minted tokens. So that means that people that are holding the token they're not getting brand new ones that are created, they're just getting rewards from it, and it is very, very fast. I mean i've seen the longest i've seen the reward payouts is nine minutes. So if you have a healthy stack of algorithm, nine minutes is quick and that's. One thing that really attracted me to it with the primary focus on developers and their needs. Algorand'S node repository, has been open sourced and is publicly available. Algorand provides a robust set of developer tools, dap analytics through a partnership with flipside crypto and has a number of partners building on their blockchain, including otoy syncsort top networks, asset block and more.
We talked about the maximum supply. It came actually to life in june of 2019, not july uh, consensus mechanism, permissionless and it's, a pure proof of stake, fixed supply with pre minted awards, blockchain sub five seconds, pretty pretty healthy there. The algorithm and the transaction fee is very similar. The transaction fees, the transaction time, it's it's as fast as tron, i mean i've, i've, converted a lot of uh coin and crypto on coinbase into algorand and i've, sent it from coinbase to my algorithm wallet and it's boom. Before i even pull up my phone and the facial recognition unlocks the phone, the algorithm is there, so the transaction speed is outstanding. Uh, the algorithm blockchain network has its own official native cryptocurrency called algo. So you know, you've heard me say that to drive the borderless economy and the system of incentives, the foundation holds algos to contribute to the stability of algorand blockchain, to incentivize network participation and to support the algorithm community ecosystem building and research. The algos enter the ecosystem via various channels, including development and research grants, participation, rewards and sales. All such activities are disclosed with full transparency to the algorand community, algorithm technology, algorand utilizes, a pure proof of stake where validators are not rewarded, nor are they at risk of being slashed. It becomes impossible for the minority to cheat and irrational for the majority to cheat. The system as it would devalue their holdings there's also no locking of tokens, so a user has their tokens available.
At all times, blocks are created in two phases where a single token is selected randomly and its owner proposes the next block. Subsequently, a thousand random tokens are selected with their owners, then approving the block proposed by the user, the first user. So really the reward system is, has a little bit of a random to it. So you are staking it's pure proof of stake, but you just because you're, the biggest kid in the sandbox doesn't mean that the little guy that just joined the party doesn't have a fair fighting chance to get these rewards as well and, like i said it's, usually Around nine minutes, so if you have like 10 algo, you have just the same shot as i do as earning rewards for staking, and you probably see those returns, every nine minutes, so it's very lickety split. I really really like that. A lot uh and like that's. What i was talking about yesterday on my stream, the minority, has just a fair shot as the majority and that's. Why? I really really really like the token the phases these phases are insured by the core protocol called binary byzantine agreement or the byzantine agreement star, encompassing the following advancements cryptographic sorting to prevent an adversary. You know what i'm distracted hang on one. Second, if you guys haven't done this yet you go over to coinbase, you actually can earn yourself six dollars in algorand. I will post that link in the description as well, and you can go down here, and this is what actually got me into it.
Once i went through these videos yeah, you can earn yourself six dollars out of worth of algorithm instantaneously. All you have to do is watch these videos they're three minutes a piece. They'Re really really really simple. The questions are very easy and you can answer the questions even like. After you start the video you pretty much are going to know the answer to the question. I don't think it's going to show me here: it's going to be what is algorand and then it's going to give you abc or d and then obviously the most intelligent, smarter question is going to be the one that or the answer is going to be. The answer, so you can earn yourself six dollars worth of algorithm just by clicking on the link and signing up takes probably about 30 minutes. It'Ll say you know you're on the waiting list, but about 30 minutes later you'll get the invite to get yourself. Your six dollars, let's jump over here to their platform, algorand.com uh lots of lots of mumbo jumbo. You know i'm not going to bore you with the reading it's a very it's, a very smooth, well built site, very informative lots of information. Let'S just take a look at like a couple of things: i'm, not going to go through everything like crazy, but we're. Just going to look at a couple of things here, algorand protocol, the technology removes the technical barriers that the years undermine mainstream blockchain, adoption, decentralized scale and security.
Now you can build on a stable platform. You trust our consensus mechanism is permissionless and pure proof of stake. It ensures full participation, protection and speed within a truly decentralized network. The blocks finalize in seconds algorand's transaction throughput is on par with large payment and financial networks. In a nutshell, this is a financial system. This is a financial setup. This channel is not financial advice or anything along those lines, but al goran. I think it even says right here at the top of their technology that enables frictionless finance so that's what it is in a nutshell, use cases algorithm, has a diverse global group of partnerships representing technology, venture capital, cryptocurrency and financial service community here's. All of the filter use cases by all that stuff. Um gaming defy infrastructure, banking, securities, commercial supply chain, identity, blah blah blah, and these are a lot of their partners. Circle, idex republic, tether, archax or archax meld gold, marshall's, island stake or dao verified. Today. Lots and lots and lots of partnerships very, very, very healthy program platform project, whatever you want to look at it to get yourself behind you don't have to. If you don't want, i mean i enjoy it and i enjoy what's going on who we are. You can look at the team, you can look at the founder it's, this guy right here, work with us careers, whatever blah blah blah, get in touch yada yada. What we do let's go to the algorithm wallet.
This is the key. This is where i'm going to kind of be more of my natural flow. The algorithm wallet is an easy to use mobile, app very easy with a new design that includes key features: full integration of algorithms standard assets and best in class security with nano ledger integration. So for that last sentence, if you have one of those ledger, nano wallets, you can uh pair it together. So you have that extra layer, security um pretty much if you're in the crypto space security is one of the number one things you need to focus on and take very, very seriously but here's some screenshots of the app again it's available on the app store for Apple and it's, available on google play with a focus on user friendliness and clean design. The wall also includes comprehensive view allowing users to see their holdings without toggling between accounts. Very very true. This is what the screen looks like i don't know, if it's enough resolution for you on the computer, but looking at the phone it's it's it's super simple let's see if we can get it let's see. If we can get it, i mean there's my balance and then just here's all my transactions here right here, you're not going to see it as well, but right here is the update on my reward. There you go right. There is the update on my rewards. So you see that i've got .84 rewards ready to go, almost, have one algorand um and then it's just it's easy your send and receive buttons down here right.
There you've got your copy. Your wallet address up here in the top corner, there's the qr code. You'Re, probably not gon na be able to scan it, but if you want to tip some algorand there, you go scan now. If you guys want to tip me any algorithm, you can go that way as well. Um but overall, the app is very seamless, it's, very smooth uh, the only negative i'd, probably say to al gorand, with the exception of they stated that you don't have to have your assets frozen for any amount of time. So if i wanted to withdraw this right now, i absolutely could like i said i have many layers to not do that with this token, because i don't want to just cash this out. This is a long term hold for me. Long term stake we're just going to keep piling in there. So maybe one day we can look at getting 250 worth of algorithm today, just because we've staked it so much like the algorithm i'm holding is never going anywhere. When i get my basic attention, token bought my playstation 5 bought. My new gaming monitor bought my new playstation 5 headset. You know all that stuff there, the lighting back there spent it all in basic attention. Token uh, a little bit of coin shares all that stuff. Algorand is a long term hold i mean if it gets to a point where i'm making 250 a day from the proof of stake, then that's that's a sustainable income, but that is extremely long term, uh other than that.
What uh you can have the opportunity to compound your rewards, so every nine minutes you can compound your rewards instead of like kucoin, where you're gon na pay out every 24 hours or like tezos or if you're, holding any tokens on coinbase or tezos needs 30 days Before you get your first reward payout and then you get your award payout every three days after that um kucoin every 24 hours finance every month. So if you're doing proof of staking that way, um it's not true genuine proof of staking. But i appreciate what they do with coins like tezos, because if i wanted to be a tezos baker, i would need 8 000 tezos and be the only one so at least on coin base. I could put my tesos there until i get to 8 000, but i can't compound with algorand, if you're getting one algorand every reward cycle. You can compound that for the next reward cycle – and all you have to do is do a transaction to yourself for zero you're only going to pay an algorand fee of .0001. So if you've got 1.1 algorand in your rewards, you're still going to get 1.1 algorand as your reward payout, and you can compound compound that on the next wave now there is a lot more technical mumbo. You can have multiple wallets set up here as well. I just have one main wallet and it's, just i went back on a screen on it turn on post notifications, for it everything pops up, pretty quick, um contacts, it's very, very seamless, it's, very, very similar to like tron link, in my opinion, just with less clutter And less coins on there you can set up accounts and you could set up um contacts and just like transfer algo like that really really solid crypto um i mean i could look a little bit more into the market and see the build on what the price Point might fluctuate to, but i see this being a better hold for that proof of stake feature, whereas someone with ten dollars heck someone with six dollars of algorand can start earning rewards immediately.
When i did the six dollars in alvaran it took maybe a week to get like half an algorand. You can just kind of go from there and then you can keep staking it's it's, very, very simple platform. Uh. If you have any questions about it, please let me know if you guys want to collect your six dollars of algorand link is for coinbase in description. If you're already a part of coinbase, then go up to the coinbase um log into your coinbase. Go to the vera top and you see, earn rewards here and you'll be able to go and watch three quick videos to earn yourself six dollars of algorithm that's going to do it for me today guys. Thank you very much for watching. I really appreciate it if you liked the video please take a moment hit the like button. It really helps out on the channel. I know it. Doesn'T seem like much but there's a reason why us youtubers beg for it. If you're not a subscriber hit, the subscribe button turn on the bell notification. All the links that you guys could possibly need are gon na be in the description below if you like, algorand, leave a comment about it. If you don't, like it, tell me about some reasons why you don't, like it if you're more familiar with algorand than i am, which isn't hard to do um tell me some of your favorite things about it as well.
Um don't forget to turn on the post notifications. Like comment subscribe, you can always reach out to me on twitter discord telegram all that good stuff i'm gon na head on out we're gon na play some playstation five. So please definitely check out our twitch channel link, for that is in the description as well we're trying to get to path to affiliate. We need a three average viewers per stream, so if you guys can pop over there hang out for 20 minutes talk about stuff with us. We talk about crypto, we play with mind of tron. I mean help a brother out. I appreciate it so anyway. Thank you very much for watching like comment subscribe. All that good stuff holidays are right around the corner, so make sure you be safe, and if you want to spend time with everyone, i mean i'm seeing my family, but i know everyone's worried about kovid going on don't. Let that ruin the holidays love one.