If you are using MyAlgo Wallet and have not already done so, we recommend immediately rekeying your MyAlgo wallet to Pera Wallet. We are no longer supporting MyAlgo Wallet connections to the Opulous platform.

You can learn more about Rekey, your MyAlgo Wallet to Pera Wallet, here 👉How To Rekey From MyAlgo Wallet to Pera Wallet.

This article will cover everything you need to know to add ALGO to your Pera Wallet. The points we will cover in this article are as follows.

Let’s get into answering these questions and get you on your way to being a crypto native.

What is ALGO?

ALGO, is the native cryptocurrency of the Algorand blockchain, used to pay for transactions and fees. ALGO is a stakeable token, meaning you can earn rewards for helping kee the network secure. ALGO is also used for voting on proposals and upgrades for the Algorand blockchain.

ALGO an important part of the Algorand ecosystem, providing payment, staking, and governance functions for users.

Why is ALGO Needed?

Opulous is built on the Algorand blockchain, which means that transfers of MFTs, OPUL, and NFTs require the sender to pay the transfer fees in ALGO. You'll need ALGO to cover any fees when sending and receiving transactions. This includes opting in, claiming rewards, and staking.

How Much ALGO Is Needed?

We often get this question, so we’ve created an infographic to portray how much Algo you need.

The more ALGO you have in your wallet, your transactions will likely go through without issues. Although you only need 0.5, we recommend you hold 10.

How Do I Transfer Algo from The Exchange to Pera Wallet?

If you already have ALGO in exchange, then you’re in luck. Although the process may seem long, it’s much more straightforward than it sounds. By following the steps below, you’ll be more than capable of adding Algo to your wallet.

STEP 1: Log into your Pera Wallet using the app, select the Pera logo at the bottom of the screen, and press receive. Choose the account you want to add ALGO to and copy the address.

STEP 2: Having successfully copied your wallet address. Go to the exchange that holds the ALGO you want to transfer to your new wallet.

STEP 3: Select Algorand from your assets list and press 'send.'

STEP 4: Paste your wallet address and press send.

Wasn’t that simple? We understand that there’s a learning curve in crypto, and Web3 as a whole, especially considering we are still so early. But knowledge can be carried forever; as we know, knowledge is power.

How To Buy ALGO In Pera Wallet?

Buying ALGO directly through Pera and Moonpay allows you to cut out the middleman of exchanges from the process. This does come at a cost, though, as the minimum purchase amount using this method is £30, roughly $37.

STEP 1: Log into your Pera Wallet using the app, select the Pera logo at the bottom of the screen, press ‘Buy Algo,’ and select ‘Buy Algo with Moonpay.’

STEP 2: Accept Moonpay Terms and Conditions and enter your details. You can pay with your card or other cryptos.

STEP 3: Follow the on-screen instructions, and you’re all set.

Do You Still Need Help?

Let us know by joining the official Opulous Telegram Community 👉 here.

If you're still having any issues with any of the above steps, please contact us on a chat function here 👉 Opulous Chat. You can find the chat button in the bottom right. Make sure you share the following information.

Alternatively, you can contact support by emailing support@opulous.org. Ensure you share the information above so we can best assist you.