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How to buy Marinade staked SOL (MSOL)
Learn how to buy Marinade staked SOL (MSOL) in our step-by-step guide.
Marinade staked SOL (MSOL) is in the top 1,000 cryptocurrencies by market cap, valued at $102,766,620.
Marinade staked SOL is a highly volatile asset capable of major price swings in a single day. Today MSOL is trading for $24.46, which is slightly up from yesterday's trading price of $24.93. Marinade staked SOL's seen a decrease of -74% over the past year.
So before you buy Marinade staked SOL, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Marinade staked SOL.
How to buy Marinade staked SOL in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchangesThe easiest way to buy Marinade staked SOL is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an accountTo create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a depositOnce verified, you can deposit using the payment method that best suits you – bank transfer, credit card, cryptocurrency and debit card payments are widely accepted.
Buy Marinade staked SOLYou can now exchange your funds for Marinade staked SOL. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Marinade staked SOL to your personal wallet.
Where to buy Marinade staked SOL
Find an exchange to buy, sell and trade MSOL by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How we keep this Marinade staked SOL guide up-to-date
- MSOL price data is regularly updated through data feeds so you always have the latest information.
- Marinade staked SOL performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
- Key information on coins and how to buy them is regularly reviewed by our editorial team of James Edwards, Frank Corva and Billy Endres.
- Our coin coverage and exchange information is regularly reviewed by our publishing experts Louise Vinciguerra and Molly Wiltshire-Bridle.
How do I find the best places to buy Marinade staked SOL?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Marinade staked SOL?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Marinade staked SOL.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing MSOL with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Marinade staked SOL?
Once you've created an account, you will need to deposit funds to buy MSOL with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to to buy MSOL:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase MSOL by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MSOL on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Marinade staked SOL?
The easiest way to buy MSOL is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Best Marinade staked SOL wallets to store your MSOL
You can keep your MSOL on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your MSOL below.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Is Marinade staked SOL a good investment?
mSOL is a cryptocurrency native to the Marinade Finance ecosystem and, much like the rest of the market, is subject to a high degree of volatility. Here are a few key aspects to consider before investing in mSOL:
- Unique incentive-driven design: mSOL is designed to function as a "frictionless token". After the expiry of each epoch, its value is recalculated and recalibrated depending on the conditions surrounding the market. The total staking rewards that an investor can accrue via their staked SOL is calculated using the following formula: mSOL value = total_staked / tokens_minted.
- Security oriented:Since its market debut, the Marinade protocol has been audited by several blockchain security firms. While the project’s source code is not yet fully open source, its roadmap clearly states that, in the near future, the project’s entire codebase will be made available for public utilisation.
- Amplifying liquidity: In addition to receiving SOL staking rewards, mSOL can be used for a wide array of features within the Marinade ecosystem, including borrowing/lending, liquidity provision, single-asset staking and DEX trading.
- Solid dev foundation:mSOL operates within the Solana ecosystem, a decentralized blockchain that has been built to enable a high degree of scalability. According to Solana’s website, it is able to facilitate more than 1,000 transactions per second while offering extremely low gas fees. If the Solana ecosystem continues to grow, the demand for mSOL and the Marinade protocol may grow with it.
Today's Marinade staked SOL price versus ATH
Compare today's price of Marinade staked SOL ($24.46 USD) against its all-time high (ATH) price of $3,541.84 on August 23, 2021. The closer the bar is to 100%, the closer MSOL is to reaching its ATH again.
How do I trade, convert or sell Marinade staked SOL?You can convert or sell your MSOL with the same exchange you bought it through:
- Sign in to the exchange you have MSOL on.
- If you store your Marinade staked SOL in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of MSOL you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Marinade staked SOL.
- Complete your transaction and move your MSOL to a wallet for storage.
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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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