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With a market cap of $71,292,419,860.00 USD, Solana ranks as the 7th largest cryptocurrency by market capitalization in the world. It operates on the Solana blockchain network. It is currently trading at a price of $126.79 USD per coin and trades using the cryptocurrency code SOL.
Solana is a highly volatile asset capable of major price swings in a single day. So before you buy Solana, make sure you understand these unique risks as well as its tax and legal status in Canada.
If you want to buy Solana in Canada or track its performance, keep reading to see the latest SOL price, market cap and trading volume along with a step-by-step guide on how to invest in SOL crypto in Canada.
| Current price | $126.79 |
|---|---|
| All-time high | $293.31 |
| All-time low | $0.50 |
| 1-year price change | ▼ -34.15% |
| Market cap | $71.29B |
| Market cap rank | #7 |
| Total volume (24h) | $5.86B |
| Circulating supply | 562,169,870 |
| Network | Solana |
| Where to buy SOL | Buy on Kraken |
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
The whole process of buying SOL can take as little as 15 minutes, and all you need is a smartphone or computer, an internet connection, photo identification and a means of payment. Follow these five steps to learn how to buy Solana in Canada:
The easiest way to buy Solana is through a cryptocurrency exchange. Choose an exchange that offers low fees, a user-friendly platform or 24-hour customer support. You can easily see top picks in our guide to the best crypto exchanges in Canada, or compare options below.
To create an account on an exchange, you will need to provide an email address, come up with a strong password and verify your identity through a process called KYC, which requires government-issued photo ID.
Once verified, you can deposit CAD using the payment method that best suits you. Common methods like Interac e-Transfer, bank wire and debit card payments are widely accepted on Canadian-friendly exchanges.
You can now exchange your funds for Solana. On beginner-friendly exchanges, this is as simple as searching for the coin name (Solana) or its crypto code (SOL), entering the CAD or SOL amount you want to purchase and clicking "Buy."
Consider transferring your SOL to help protect against hacks, scams, platforms going bankrupt and other risks of keeping crypto on an exchange.
We've curated a list of legitimate crypto exchanges below where you can buy Solana in Canada to help you compare deposit methods, supported fiat currencies and fees.
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
The recent Solana (SOL) price is $126.79 USD per coin, which is +7.48% higher than the previous day's trading price of $117.96 USD. Over the past 30 days, SOL's price has changed by -3.66%, from $131.61 USD to the current price of $126.79 USD. Compared to this time last year, Solana's price has seen a decrease of -34.15% to its value as a cryptocurrency.
Solana reached its all-time high of $293.31 USD on January 19, 2025, which was a +58,468.17% increase from its previous all-time low of $0.50 USD, which it reached on May 11, 2020. It has since landed at its current price of $126.79 USD.
Yes, you can buy Solana in Canada. Simply open an account with a crypto exchange that operates in Canada and supports Solana—like the ones in our curated list above—and place a "buy" order. For example, Kraken supports Solana and is a registered crypto exchange in Canada.
Because Solana is decentralized, it isn't tied to any single country. That means you can buy and sell it from anywhere in the world, including Canada, as long as you have internet access.
Founded in 2017, Solana (SOL) is an open-source blockchain platform designed to host decentralized and scalable applications.
It grew in popularity rapidly during the 2020 bull run as an Ethereum alternative layer-1 blockchain. Solana's network is significantly faster than Ethereum's due to its unique proof-of-history (PoH) technology. PoH allows transactions to be time stamped and processed quickly while its PoS consensus verifies the transactions and adds blocks to the blockchain.
Solana can process an estimated 50,000 transactions per second (TPS), far more than Ethereum's 10–15 TPS.
While this seems like a drastic improvement, Solana has been scrutinised with suggestions that – unlike Ethereum – its blockchain compromises decentralization and security in favour of speed.
These concerns were amplified when Solana experienced multiple network outages throughout 2022, halting block production for several hours.
To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not CAD.
If you want to buy Solana with Canadian dollars, you'll need to pass a Know Your Customer (KYC) check.
This is a standard security procedure for most exchanges in Canada and requires you to upload government-issued photo ID, and, in some cases, a selfie with today's date.
KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.
Several crypto exchanges in Canada accept credit cards as an instant purchase method. However, before buying Solana with a credit card, you should be aware of the additional cost and risks involved.
For instance, credit card fees are usually higher than bank transfers or e‑Transfers. Some card issuers may even block cryptocurrency transactions or treat them as cash advances, which are more expensive. Plus, if you don't pay off your credit card within your statement period, you may end up paying interest on your card balance and losing money if the price moves quickly.
For example, if you were to use a credit card to buy Solana, you could end up paying this:
If it took you three months to pay off your Solana purchase at a credit card interest rate of 19.99% APR, you would pay an additional $13.05 USD in interest on top of what you originally paid to buy Solana.
This example can help you compare the relative cost of buying Solana with a credit card versus other lower‑fee methods like Interac e-Transfers.
You can check the table of Canadian crypto exchanges above to see which ones accept credit cards for buying Solana, or visit our guide on buying crypto with a credit card for more details.
Yes, it is possible to buy Solana with a debit card, as most Canadian crypto exchanges accept debit cards as an instant payment method.
To buy Solana with a debit card, you'll typically need to go through the standard steps to purchase crypto on your preferred platform and then select debit from the list of payment options (e.g. Interac e-Transfer, debit card, credit card) before completing your purchase.
Just note that there are often higher fees for crypto purchases with cards (both debit and credit) compared to paying with Interac e-Transfer or with another cryptocurrency.
Solana (SOL) is set to end 2022 at $35, according to Finder's panel of fintech specialists. Going forward, the panel is projecting SOL to be worth around $116 in 2025 before rising to $236 by 2030.
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Below are the aspects you should consider before investing in SOL:
Highly secure: Solana's blockchain framework is steeped quite heavily in the ethos of decentralization. The system makes use of a hybrid consensus mechanism, employing a novel 'Proof-of-History' model where historical records of all blockchain transactions happening within the ecosystem need to be verified before they are finally added to the ledger.
Proof-of-History ensures that transactions on the Solana blockchain are lightning-fast, while the Proof-of-stake mechanism allows for economic security as well as an incentive for investors to participate in the network
Unique data processing model: The platform divides data that needs to be relayed to and from each node into smaller packets, allowing for transmissions to become easier and more streamlined. Not only that, by breaking down the info into fragments, Solana is able to mitigate various bandwidth and transaction speed-related issues that many other blockchain systems are routinely faced with.
This makes Solana one of the best protocols at addressing cryptocurrency's omnipresent scalability problems
Solid backing team: Solana is the brainchild of Anatoly Yakovenko, who founded the platform back in 2017. Prior to his work with Solana, Yakovenko worked for Qualcomm as well as other established companies like DropBox.
Other prominent members of the team include Greg Fitzgerald, Eric Williams, and Raj Gokal
Concurrent operational capacity: One of the more underrated aspects of the Solana blockchain is that it is able to deploy thousands of smart contracts in parallel with each other, thus allowing for a better, more efficient runtime
Active use cases: SOL tokens have one of the broadest use-cases of any crypto token. Serum, a high-speed, non-custodial spot and derivatives decentralized exchange (DEX), has been devised atop the Solana blockchain, using SOL as its native token.
In conjunction, SOL tokens can be used to participate in NFT ecosystems such as the Degen Ape Academy, build decentralized applications, staked for additional interest and used to buy goods and services
Competition: Solana is one of a number of high market-cap tokens dubbed “Ethereum killers”. This is due to their smart contract capability, which allows them to mirror Ethereum's functionalities with greater transaction speeds and lower gas fees.
Solana is competing with other popular cryptocurrencies like Cardano (ADA) and Polkadot (POLKA) to take down Ethereum's title as smart contract king
There are two main options for storing Solana once you've bought it—keep it on an exchange or store it in your own personal wallet. Take a look at our guide to the best crypto wallets in Canada to see our top picks.
While it can be more convenient to leave your Solana on an exchange, you're vulnerable to risk if the exchange gets hacked or compromised in another way.
It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.
Like all crypto, Solana is considered a commodity for tax purposes by the Canada Revenue Agency (CRA). That means it will be taxed similarly to other investments like stocks and ETFs.
Money you get from selling Solana can be treated as income or capital gains. That said, the CRA will tax crypto profits differently if you're a casual Solana buyer than if your crypto profits are classified as business income.
You can learn more about how crypto taxes work in our guide to crypto tax in Canada.
Keep in mind that buying Solana can be risky. But if you decide to invest in Solana, look for a regulated crypto exchange in Canada that supports SOL, and make sure to store your crypto securely.
Once you've bought Solana, think about your short and long-term goals. Crypto markets can be very volatile, so keep an eye on Solana's price over time to decide whether to keep it on an exchange, sell it or move it to your wallet.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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