Algorand wallet

What is Algorand (ALGO)?

ALGO is the native coin of the Algorand blockchain, a Layer 1 network that runs on Pure Proof-of-Stake: any account holding ALGO can take part in consensus, and the chain does not fork, so a transaction is final within seconds of being included in a block. Algorand is built as a smart contract platform, with Python among the languages supported for writing contracts, and it is used for payments, tokenized real-world assets and other applications where predictable settlement matters.

Every transaction on Algorand is paid in ALGO, and the fee is flat rather than auction-based: a standard transaction costs 0.001 ALGO. What trips holders up more often is the minimum balance rule. An Algorand account must keep at least 0.1 ALGO, and that floor rises by 0.1 ALGO for every asset and by at least 0.1 ALGO for every application the account opts into. Trying to send the whole balance fails, because the network refuses a transaction that would leave the account under its minimum.

Tokens on Algorand

Other assets on the network, such as stablecoins issued as Algorand Standard Assets (ASAs), live on the same address as your ALGO but cannot simply arrive: the account has to opt into each asset first, and that opt-in is itself a transaction paid in ALGO. So a holder who plans to receive anything besides ALGO needs a little ALGO parked in the account before the tokens can land.

In Tangem, ALGO and any ASAs you opt into share one Algorand address, so the coin that pays for the opt-in and covers the minimum balance is already where it needs to be. The opt-in and later transfers are approved by tapping the card to your phone. Because the address stays the same for every asset on the network, Tangem lets you manage the ALGO floor and the tokens it supports without juggling separate wallets.

Supported networks in Tangem (1): Algorand.