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.
š”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?
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?
Go to your settings
Go to "Funds"
You will see:
Your total funds (in yellow) corresponding to the funds you hold in your wallet
Your available funds (in green) corresponding to the funds you can allocate to new transactions.
The difference corresponds basically to your MBR, which can't be used because it is blocked in pending transactions.
How can I lower my MBR?
Cancel inactive listings
āCancel active listings
Cancel offers you made
Opt-out assets you no longer need
Go to your wallet (e.g. Defly, Pera Wallet)
Navigate to the āAssetsā section
Select the asset you want to opt out of
Click āOpt Outā or āRemoveā and confirm the transaction