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How to buy Solana (SOL) in the US

A beginner's guide to buying and selling SOL in the US.

Solana
SOL- USD
CMS-HOLDINGS-PORTFOLIO
$164.39
+ $18.92 ( + 13.01%)

How to buy Solana

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Solana.

  1. Open an account on an exchange that supports SOL.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Solana.
  3. Buy Solana.
    Complete your Solana purchase and then find the best wallet to store SOL.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Solana?

Solana is a blockchain looking to address the scaling issue head-on, allowing users to process a massive number of transactions per second (TPS). To put things into perspective according to Binance Academy, while Bitcoin, Ethereum and Visa currently offer TPS rates of just 7, 30 and 2000 respectively, Solana allows users to facilitate a whopping 50,000 transactions per second. SOL is the native token of the Solana ecosystem and has a maximum supply cap of 489 million tokens. Since the platform makes use of a Proof-of-Stake (PoS) network, participants can stake their SOL coins to become validators within the network as well as earn passive rewards for their efforts.

In August 2021, Solana jumped onto the non-fungible token (NFT) bandwagon, adding it to its hefty list of decentralised finance (DeFi) projects. Its entry into the NFT market is known as the Degen Ape Academy, where users can purchase an avatar (which is a ‘smooth-brained’ ape) and enrol them as a student in the Academy. From there, NFT holders will be able to create and submit artwork to competitions and participate in a customisable kart-racing game with in-built rewards. Upon the NFT platform’s launch, all 10,000 Apes available were sold out within 10 minutes, immediately causing a surge in Solana’s token price.

Well-known celebrities such as Paris Hilton and Gary Vaynerchuk were some of the many to purchase an Ape NFT at launch. According to Euronews over the month of August, the price of SOL rose by 220%, largely on the back of the Degen Ape Academy’s popularity. Users of the platform must use these tokens, held in a compatible Fantom or Sollet wallet, to interact with the community.

Solana (SOL) is the 7th largest cryptocurrency in the world by market cap, valued at $48,403,988,193. The current price of Solana is $163.05, which is 15.576% higher than yesterday. Prices have ranged between $164.06 and $139.38 over the past 24 hours. All prices are listed in US dollars and accurate as of September 19, 2021 12:09 UTC.

Where to buy Solana

Find an exchange to buy, sell and trade SOL by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

134
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

292
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
USD

58
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
FTX.US Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Wire transfer
USD, AUD, EUR, CAD, GBP, SGD

24
cryptocurrencies

Enjoy the local version of the FTX exchange which offers a range of leading cryptocurrencies, up to 10x leverage, access to global liquidity and benefits for FTT token holders.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

225
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Coinbase Pro
Bank transfer, Cryptocurrency, Debit card, PayPal, Wire transfer
USD, EUR, GBP

78
cryptocurrencies

Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
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Compare up to 4 providers

Solana at a glance

Information last updated September 19, 2021 12:09 UTC.
Coin symbolSOL
Total SOL supply488,630,611
Circulating SOL296,830,944
Current priceUS$163.05
All time highUS$213.47
Notable team membersAnatoly Yakovenko, Greg Fitzgerald
PartnershipsTerra, OKEx, MXC
IndustryBlockchain
Token usesPlatform fees, staking, governance
NetworkSolana

Solana price performance over time

Historical prices compared with the price of US$163.05.

1 hour 0.56%
24 hours 15.58%
7 days -8.57%
14 days 11.40%
30 days 120.32%
60 days 557.01%
200 days 984.79%
1 year 5,485.27%

How to sell Solana

You can cash out your SOL with the same exchange you bought it through:

  1. Sign in to the exchange you have SOL on.
    If you store your Solana in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of SOL you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Solana.

What to consider when buying Solana

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 novel ‘Proof-of-History’ model wherein historical records of all blockchain transactions happening within the ecosystem need to be verified before they are finally added to the ledger.
  • 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.
  • 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: Serum, a high-speed, non-custodial spot and derivatives decentralized exchange (DEX), has been devised atop the Solana blockchain. This is in large part because Solana offers an on-chain central limit order book (CLOB) that is refreshed once every 400 milliseconds. Not only that, as pointed out earlier, Solana also offers a high throughput rate of over 50,000 TPS.
Disclaimer: Cryptocurrencies, including Solana, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SOL 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 Solana or any other cryptocurrency discussed.

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