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How to get crypto to buy property tokens on Lofty's marketplace
How to get crypto to buy property tokens on Lofty's marketplace

Learn how to get ALGO or USDCa

Luis Martinez avatar
Written by Luis Martinez
Updated over a week ago

Lofty makes it easy to invest in properties using cryptocurrency, and below we share how to easily get the cryptocurrencies that Lofty supports.

  • Algorand (ALGO) - easiest to access

  • USDCa (stablecoin pegged to the USD)

We also share how to do this in a video:

How to get Algorand (ALGO)

Algorand can be purchased with a card or bank transfer on most major exchanges, including Coinbase, FTX, and Binance. Click here if you would like to set up a Coinbase account.

Once you have a Coinbase account, simply search "Algorand". You will then have the option to purchase Algorand with a card or bank account.

Next, you will send Algorand to your Lofty Wallet, which you can use to place an order in Lofty's marketplace.

To send Algorand from Coinbase to your Lofty Wallet, you will need your Lofty Wallet address (this is like a routing and account number combined in one). You can find your Lofty Wallet address by logging in to Lofty and then clicking "Wallet" in the left menu.

Then, click "Lofty Wallet".

Click "Receive" at the top right of your screen.

Then, click "Copy wallet address"

Click "Send" in your Coinbase account, choose Algorand, and then paste your Lofty Wallet address in the "To" field in Coinbase to send your Algorand tokens to your Lofty account.

How to get USDCa

Unlike Algorand, which is traditional cryptocurrency, USDCa is a stablecoin pegged to the US dollar.

USDC exists on multiple blockchains. The Algorand version of USDC is USDCa.

The advantage of stablecoins is their lack of volatility. Because they are pegged to the US Dollar, they do not experience the same market fluctuations that traditional cryptocurrencies, like Algorand, face.

USDCa is not widely supported on exchanges like Coinbase.

Because of this, you will first need to convert your Algorand to USDCa before you can purchase Lofty tokens with USDCa.

In order to convert your Algorand to USDCa, you will need an external Algorand wallet — either Pera Wallet or MyAlgo Wallet. If you do not yet have one of these wallets, you can create one by following the steps in the video guide here.

How to convert Algorand to USDCa: Step-by-step

To convert your Algorand to USDCa, you will need both an external Algorand wallet and a Coinbase account. When you have both, visit to convert your Algorand to USDCa.

If this is your first time using Algofi, you will need to link your crypto wallet to the platform by clicking the “Connect Wallet” button, located on the top left corner of the website.

After you connect your wallet to Algofi, click the "Lend" button below the "Connect Wallet" button.

After you click the "Lend" button, you will have to opt in, or give permission, to the Algofi platform to link to your Algorand wallet.

Once you have opted your Algorand wallet into Algofi, you will then want to connect your existing Coinbase Account using CoinBase Pay, like in the screenshot below.

After linking your account via Coinbase Pay, confirm the payment method that will be used, and the amount of Algorand you would like to purchase in fiat.

Your US dollar funds will be converted to Algorand (ALGO) during this step.

Once you reach the Confirmation Screen, your transaction was successful.

Your Algorand crypto funds will now be available in your external Algorand wallet linked to AlgoFi.

Once you have received Algorand with your fiat funds, you will then convert the Algorand into the USDCa stablecoin.

We recommend completing this step immediately after the Algorand funds become available to avoid any market fluctuations.

To initiate a conversion, head to the “Swap” section of Algofi. Once here, set up an "ALGO to USDC" swap, as shown in the example below.

After completing the desired swap setup, click on the "Swap" button and confirm the information displayed is accurate.

Once you have confirmed, proceed with the swap transaction.

Once the transaction is complete, you will see the following screen.

Once this step is completed, the crypto funds will be available as USDCa in your Algorand wallet.

If you have not yet added this external wallet to Lofty, visit your Wallet setting menu, then click "Add payment or wallet", select your external wallet type, and follow the prompts that follow.

Optionally, you can send the USDCa funds from your external wallet to your Lofty Wallet for a more seamless experience — to do so, just follow these steps here.

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