diff --git a/docs/README.md b/docs/README.md
index 2b2ce048..b29f7fce 100644
--- a/docs/README.md
+++ b/docs/README.md
@@ -24,6 +24,10 @@ This library can be installed from NPM using your favourite npm client, e.g.:
 npm install @algorandfoundation/algokit-utils
 ```
 
+## Peer Dependencies
+
+This library requires `algosdk` as a peer dependency. Ensure you have it installed in your project.
+
 # Usage
 
 To use this library simply include the following at the top of your file:
diff --git a/package-lock.json b/package-lock.json
index 70e28a41..abc16ed6 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -9,7 +9,6 @@
       "version": "0.1.0",
       "license": "MIT",
       "dependencies": {
-        "algosdk": "^2.5.0",
         "buffer": "^6.0.3",
         "cross-fetch": "^4.0.0"
       },
@@ -22,6 +21,7 @@
         "@tsconfig/node16": "^16.1.0",
         "@types/jest": "^29.5.2",
         "@types/uuid": "^9.0.2",
+        "algosdk": "^2.5.0",
         "better-npm-audit": "^3.7.3",
         "conventional-changelog-conventionalcommits": "^6.0.0",
         "copyfiles": "^2.4.1",
@@ -41,6 +41,9 @@
       },
       "engines": {
         "node": ">=16.0"
+      },
+      "peerDependencies": {
+        "algosdk": "^2.5.0"
       }
     },
     "node_modules/@aashutoshrathi/word-wrap": {
@@ -2996,6 +2999,7 @@
       "version": "2.1.1",
       "resolved": "https://registry.npmjs.org/algo-msgpack-with-bigint/-/algo-msgpack-with-bigint-2.1.1.tgz",
       "integrity": "sha512-F1tGh056XczEaEAqu7s+hlZUDWwOBT70Eq0lfMpBP2YguSQVyxRbprLq5rELXKQOyOaixTWYhMeMQMzP0U5FoQ==",
+      "dev": true,
       "engines": {
         "node": ">= 10"
       }
@@ -3004,6 +3008,7 @@
       "version": "2.5.0",
       "resolved": "https://registry.npmjs.org/algosdk/-/algosdk-2.5.0.tgz",
       "integrity": "sha512-MlbPjjx4utq5sETOE0okF7/Lz0fgoBtRJRvSbRu3GnoybLTq/n6To2ojDAjJMqi+qMDyUBE9fWu+8jdSvozavA==",
+      "dev": true,
       "dependencies": {
         "algo-msgpack-with-bigint": "^2.1.1",
         "buffer": "^6.0.3",
@@ -3335,6 +3340,7 @@
       "version": "9.1.1",
       "resolved": "https://registry.npmjs.org/bignumber.js/-/bignumber.js-9.1.1.tgz",
       "integrity": "sha512-pHm4LsMJ6lzgNGVfZHjMoO8sdoRhOzOH4MLmY65Jg70bpxCKu5iOHNJyfF6OyvYw7t8Fpf35RuzUyqnQsj8Vig==",
+      "dev": true,
       "engines": {
         "node": "*"
       }
@@ -5734,7 +5740,8 @@
     "node_modules/hi-base32": {
       "version": "0.5.1",
       "resolved": "https://registry.npmjs.org/hi-base32/-/hi-base32-0.5.1.tgz",
-      "integrity": "sha512-EmBBpvdYh/4XxsnUybsPag6VikPYnN30td+vQk+GI3qpahVEG9+gTkG0aXVxTjBqQ5T6ijbWIu77O+C5WFWsnA=="
+      "integrity": "sha512-EmBBpvdYh/4XxsnUybsPag6VikPYnN30td+vQk+GI3qpahVEG9+gTkG0aXVxTjBqQ5T6ijbWIu77O+C5WFWsnA==",
+      "dev": true
     },
     "node_modules/hook-std": {
       "version": "3.0.0",
@@ -7107,17 +7114,20 @@
     "node_modules/js-sha256": {
       "version": "0.9.0",
       "resolved": "https://registry.npmjs.org/js-sha256/-/js-sha256-0.9.0.tgz",
-      "integrity": "sha512-sga3MHh9sgQN2+pJ9VYZ+1LPwXOxuBJBA5nrR5/ofPfuiJBE2hnjsaN8se8JznOmGLN2p49Pe5U/ttafcs/apA=="
+      "integrity": "sha512-sga3MHh9sgQN2+pJ9VYZ+1LPwXOxuBJBA5nrR5/ofPfuiJBE2hnjsaN8se8JznOmGLN2p49Pe5U/ttafcs/apA==",
+      "dev": true
     },
     "node_modules/js-sha3": {
       "version": "0.8.0",
       "resolved": "https://registry.npmjs.org/js-sha3/-/js-sha3-0.8.0.tgz",
-      "integrity": "sha512-gF1cRrHhIzNfToc802P800N8PpXS+evLLXfsVpowqmAFR9uwbi89WvXg2QspOmXL8QL86J4T1EpFu+yUkwJY3Q=="
+      "integrity": "sha512-gF1cRrHhIzNfToc802P800N8PpXS+evLLXfsVpowqmAFR9uwbi89WvXg2QspOmXL8QL86J4T1EpFu+yUkwJY3Q==",
+      "dev": true
     },
     "node_modules/js-sha512": {
       "version": "0.8.0",
       "resolved": "https://registry.npmjs.org/js-sha512/-/js-sha512-0.8.0.tgz",
-      "integrity": "sha512-PWsmefG6Jkodqt+ePTvBZCSMFgN7Clckjd0O7su3I0+BW2QWUTJNzjktHsztGLhncP2h8mcF9V9Y2Ha59pAViQ=="
+      "integrity": "sha512-PWsmefG6Jkodqt+ePTvBZCSMFgN7Clckjd0O7su3I0+BW2QWUTJNzjktHsztGLhncP2h8mcF9V9Y2Ha59pAViQ==",
+      "dev": true
     },
     "node_modules/js-tokens": {
       "version": "4.0.0",
@@ -7154,6 +7164,7 @@
       "version": "1.0.0",
       "resolved": "https://registry.npmjs.org/json-bigint/-/json-bigint-1.0.0.tgz",
       "integrity": "sha512-SiPv/8VpZuWbvLSMtTDU8hEfrZWg/mH/nV/b4o0CYbSxu1UIQPLdwKOCIyLQX+VIPO5vrLX3i8qtqFyhdPSUSQ==",
+      "dev": true,
       "dependencies": {
         "bignumber.js": "^9.0.0"
       }
@@ -7813,6 +7824,7 @@
       "version": "2.6.12",
       "resolved": "https://registry.npmjs.org/node-fetch/-/node-fetch-2.6.12.tgz",
       "integrity": "sha512-C/fGU2E8ToujUivIO0H+tpQ6HWo4eEmchoPIoXtxCrVghxdKq+QOHqEZW7tuP3KlV3bC8FRMO5nMCC7Zm1VP6g==",
+      "dev": true,
       "dependencies": {
         "whatwg-url": "^5.0.0"
       },
@@ -13562,7 +13574,8 @@
     "node_modules/tr46": {
       "version": "0.0.3",
       "resolved": "https://registry.npmjs.org/tr46/-/tr46-0.0.3.tgz",
-      "integrity": "sha512-N3WMsuqV66lT30CrXNbEjx4GEwlow3v6rr4mCcv6prnfwhS01rkgyFdjPNBYd9br7LpXV1+Emh01fHnq2Gdgrw=="
+      "integrity": "sha512-N3WMsuqV66lT30CrXNbEjx4GEwlow3v6rr4mCcv6prnfwhS01rkgyFdjPNBYd9br7LpXV1+Emh01fHnq2Gdgrw==",
+      "dev": true
     },
     "node_modules/traverse": {
       "version": "0.6.7",
@@ -13742,7 +13755,8 @@
     "node_modules/tweetnacl": {
       "version": "1.0.3",
       "resolved": "https://registry.npmjs.org/tweetnacl/-/tweetnacl-1.0.3.tgz",
-      "integrity": "sha512-6rt+RN7aOi1nGMyC4Xa5DdYiukl2UWCbcJft7YhxReBGQD7OAM8Pbxw6YMo4r2diNEA8FEmu32YOn9rhaiE5yw=="
+      "integrity": "sha512-6rt+RN7aOi1nGMyC4Xa5DdYiukl2UWCbcJft7YhxReBGQD7OAM8Pbxw6YMo4r2diNEA8FEmu32YOn9rhaiE5yw==",
+      "dev": true
     },
     "node_modules/type-check": {
       "version": "0.4.0",
@@ -14046,7 +14060,8 @@
     "node_modules/vlq": {
       "version": "2.0.4",
       "resolved": "https://registry.npmjs.org/vlq/-/vlq-2.0.4.tgz",
-      "integrity": "sha512-aodjPa2wPQFkra1G8CzJBTHXhgk3EVSwxSWXNPr1fgdFLUb8kvLV1iEb6rFgasIsjP82HWI6dsb5Io26DDnasA=="
+      "integrity": "sha512-aodjPa2wPQFkra1G8CzJBTHXhgk3EVSwxSWXNPr1fgdFLUb8kvLV1iEb6rFgasIsjP82HWI6dsb5Io26DDnasA==",
+      "dev": true
     },
     "node_modules/vscode-oniguruma": {
       "version": "1.7.0",
@@ -14073,12 +14088,14 @@
     "node_modules/webidl-conversions": {
       "version": "3.0.1",
       "resolved": "https://registry.npmjs.org/webidl-conversions/-/webidl-conversions-3.0.1.tgz",
-      "integrity": "sha512-2JAn3z8AR6rjK8Sm8orRC0h/bcl/DqL7tRPdGZ4I1CjdF+EaMLmYxBHyXuKL849eucPFhvBoxMsflfOb8kxaeQ=="
+      "integrity": "sha512-2JAn3z8AR6rjK8Sm8orRC0h/bcl/DqL7tRPdGZ4I1CjdF+EaMLmYxBHyXuKL849eucPFhvBoxMsflfOb8kxaeQ==",
+      "dev": true
     },
     "node_modules/whatwg-url": {
       "version": "5.0.0",
       "resolved": "https://registry.npmjs.org/whatwg-url/-/whatwg-url-5.0.0.tgz",
       "integrity": "sha512-saE57nupxk6v3HY35+jzBwYa0rKSy0XR8JSxZPwgLr7ys0IBzhGviA1/TUGJLmSVqs8pb9AnvICXEuOHLprYTw==",
+      "dev": true,
       "dependencies": {
         "tr46": "~0.0.3",
         "webidl-conversions": "^3.0.0"
diff --git a/package.json b/package.json
index 579becc9..0dd78c79 100644
--- a/package.json
+++ b/package.json
@@ -68,10 +68,12 @@
     "eslint-plugin-prettier": "5.0.0"
   },
   "dependencies": {
-    "algosdk": "^2.5.0",
     "buffer": "^6.0.3",
     "cross-fetch": "^4.0.0"
   },
+  "peerDependencies": {
+    "algosdk": "^2.5.0"
+  },
   "devDependencies": {
     "@commitlint/cli": "^17.7.1",
     "@commitlint/config-conventional": "^17.7.0",
@@ -81,6 +83,8 @@
     "@tsconfig/node16": "^16.1.0",
     "@types/jest": "^29.5.2",
     "@types/uuid": "^9.0.2",
+    "algosdk": "^2.5.0",
+    "better-npm-audit": "^3.7.3",
     "conventional-changelog-conventionalcommits": "^6.0.0",
     "copyfiles": "^2.4.1",
     "dotenv-cli": "^7.3.0",
@@ -95,8 +99,7 @@
     "typedoc": "^0.24.8",
     "typedoc-plugin-markdown": "^3.15.4",
     "typescript": "^5.1.3",
-    "uuid": "^9.0.0",
-    "better-npm-audit": "^3.7.3"
+    "uuid": "^9.0.0"
   },
   "release": {
     "branches": [