Before you begin using Pact, you will need the ALGO token, the native token of the Algorand blockchain.
You'll first need to use a centralised exchange (CEX) to get ALGO tokens.
Some popular CEXs where you can buy ALGO include:
Follow the steps below to get access to ALGO on your chosen exchange.
First, you will need to add a payment method. Using your chosen Exchange's payment method, you can connect your bank account, debit card or initiate a wire transfer.
Navigate to the exchange's list of assets you can buy. This process will be different depending on which exchange you are using.
Search for Algorand by typing "Algorand" into the search bar. When you see Algorand show up in the results, tap it to open the purchase screen.
Enter the amount you want to buy. The app will automatically convert that into an amount of Algorand you will receive (minus transaction fees).
Review your purchase request, and click 'Buy' when ready. Congratulations, you’ve bought Algorand.
To use Pact, you'll need to have ALGOs in your chosen Algorand Wallet. Do this by withdrawing them from the exchange to your newly created Algorand wallet address. This process differs for every exchange; start by looking for the 'Withdraw' function, then look to the FAQs for more direction if required.
You will need to enter your Algorand wallet address to stipulate where to withdraw your ALGO to. Make sure this step is completed with absolute accuracy. Otherwise, your tokens can be lost.
Refer to the image below for the location of your unique wallet address (My Algo wallet example).
Once your ALGO has arrived in your wallet, you're ready to connect with Pact!