Why does Algorand have a minimum balance?
Why does Algorand have a minimum balance?
Algorand requires a minimum balance (in ALGO) on each wallet to prevent spam accounts and transactions from overwhelming the network.
💡Tip: To list assets with your Algorand wallet, you need to deposit at least 0.1 ALGO.
By default, the requested minimum balance is 0.1 ALGO, but it varies depending on how many Algorand tokens / ASA tokens (e.g. gALGO, USDC or USDT) or Algorand NFTs the wallet address holds. For each additional asset, the minimum balance increases by 0.1 ALGO.
For example, If you have both ALGO and USDC, your minimum ALGO balance will be 0.2 ALGO. If you have ALGO, USDC, and USDT, the minimum balance required would be 0.3 ALGO, and so on. If you only hold Algorand and no ASA tokens or Algorand NFTs, the minimum balance is 0.1 ALGO.
How does EXA Market handle this Minimum Balance?
How does EXA Market handle this Minimum Balance?
On EXA Market, you need to maintain this minimum balance requested (MBR). If your ALGO balance is lower than this requested minimum balance, you will not be able to make any transaction (NFTs or FTs) and a message will automatically appear.
In this example:
The 20k ALGO represents the missing funds to purchase the listing. This amount is auto-calculated regarding the crypto-currencies you already possess in your wallet;
The 0,2 ALGO represents the MBR (Minimum Balance Requested) which is the amount required for the purchase and that must remain in your wallet after the transaction. MBR is always expressed in ALGO.
If you need help regarding the process to buy with card or deposit crypto, please read this article.
How can I check my MBR?
How can I check my MBR?
You can check your Minimum Balance Requested at any time, just hover on your avatar to display your wallet, and hover again on the amount of ALGO of your wallet.
The message will be displayed as follows: MBR: XXX ALGO.
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