We are pretty bullish on Algorand! Especially following the announcement that Algorand is building an Ethereum compatibility Bridge (The London Bridge).
You heard that RIGHT!
Currently, you cannot add Algorand to Metamask. Metamask is essentially an Ethereum Wallet built for protocols written in Solidity and compatible with the Ethereum Virtual Machine (EVM). Algorand uses an entirely different infrastructure that makes it incompatible with Metamask.
However, this is about to change VERY SOON! Algorand will be deployed on Metamask by the end of Q1 2023. At the present, it is only available to developers (via Metamask Flask).
GET READY!
For the time being, the only option to store Algo in your wallet is by using an Algorand wallet. In this guide, we will use the popular multi coin-wallet called Trust Wallet.
How to Add Algorand to Metamask?
As stated previously, Metamask cannot currently be used with Algorand. For the time being, we will have to rely on alternative wallets (click here for more).
Here is how to add Algorand to Trust Wallet.
- Step 1: Download Trust Wallet
- Step 2: Add Tokens
- Step 3: Enable Algorand
Note: You can add Algorand to Metamask Flask. The Metamask’s experimental playground. In other words, this wallet is used by developers to test new or proposed features before they are deployed to Metamask. However, unless you are a developer we don’t recommend using it.
If you want a DETAILED, step-by-step guide, here’s what we’ll cover:
1. Can you Add Algo to Metamask?
As previously mentioned in the introduction, Algorand is building an Ethereum-compatible bridge to bring the power of Ethereum to Algorand. For the time being, we recommend using an Algorand-compatible wallet like Trust Wallet.
Algorand is expected to be functional by the end of the first quarter of 2023.
Quick Facts
Like Ethereum, Algorand is a smart contract platform that allows anyone to build decentralized applications known as dApps.
Algorand was created by MIT Professor Silvio Micali to address some of Ethereum’s major shortcomings, such as scalability (low speed and high fees), interoperability (cross-chain products), and technical complexity (high entry barriers for developers).
Algorand presents unique features like … being the first L1 network to be protected from quantum computers, the first carbon-negative blockchain, and the first to adopt Pure Proof-of-Stake (PPoS), in which users do not need to lock up their stake and only one Algo is necessary to run a node.
Related: If want to know more check the article I wrote for Solution Suggest: 15 Ethereum Alternatives & Competitors for 2022 - 2023.
2. How to Add Algorand to Trust Wallet
Trust Wallet is a leading multi-chain crypto wallet that allows you to connect to different blockchain networks, and store your coins in one place. Instead of 300 individual wallets with 300 different accounts and recovery phrases, you can manage everything under a single account. Trust Wallet does not store your keys or hold your funds (non-custodial).
Without further delay, let’s download and set up the Trust Wallet on your device
DON’T WORRY. Adding Algo to Trust Wallet is pretty easy. You can do that in 3 Simple Steps:
STEP 1: Download Trust Wallet
To get started, please install Trust Wallet (completely free). Download the mobile version (iOS; Android). We recommend the browser extension as well (Chrome; Brave; Opera; Edge).
The Trust Wallet Browser extension is currently in Beta. In the coming months, we will have a cross-platform Trust Wallet.
Let’s download the Trust Wallet for the iOS device. Head to the apple store and search for Trust Wallet. Click on “Get.”
Follow the prompts, create a 6-digit passcode, back up your 12-word recovery phrase, and click on Continue. DO NOT SHARE IT WITH ANYONE!
Congrats!
Once it is verified, the wallet should be up and running and ready to send, receive, and store native Algo tokens.
STEP 2: Add Tokens
This step is pretty straightforward.
Open your Trust Wallet and click on “Add Tokens” (you might need to scroll down)
STEP 3: Enable Algorand
The final step is to search for Algorand in the Search Bar and then enable Algorand by using the toggle button (change it to ON).
3. Conclusion
Algorand is one of the most promising blockchains in the space. Algorand offers fast transaction speeds, a quantum-proof, carbon-negative blockchain, and an innovative staking mechanism. Some even dare to call it an “ETHEREUM KILLER.”
Adding Ethereum compatibility to Algorand will increase its appeal and help in its adoption. For that, we will need to wait at least until the end of Q1 2023.
Currently, we cannot add Algorand to Metamask, but we can use an Algorand-compatible wallet, like Trust Wallet.
Here is a quick reminder of the steps:
- Step 1: Download Trust Wallet
- Step 2: Add Tokens
- Step 3: Enable Algorand
NOTE: We always recommend keeping your coins safe in a Hardware Wallet like Ledger Nano X and Ellipal Titan.
We hope you found this guide helpful! Check our FAQs if you have more questions.
4. FAQs
What Wallet can hold Algorand?
There are numerous ways to store Algorand. From leading hardware wallets like the Ledger Nano X and Ellipal Titan to multi-coin wallets like Trust Wallet to standalone wallets like AlgoSigner and Pera Wallet.
Is Algorand an ERC20?
No. Algorand is not an ERC20 token. Algorand has its own blockchain and native coin called ALGO. Like Ethereum, Algorand is a smart contract platform that allows anyone to build decentralized applications known as dApps
When can we expect Algorand to be released?
According to the CTO at Algo Foundation, John Woods, “Metamask support for Algorand is code complete and in audit. Shipping late Q1 2023”
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