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How to buy Solana (SOL)
A beginner's guide to buying and selling SOL in the US.
How to buy Solana
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Solana.
- Open an account on an exchange that supports SOL.
Most exchanges require an email address, phone number and proof of ID to register.
- 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.
- Buy Solana.
Complete your Solana purchase and then find the best wallet to store SOL.
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, 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.
Solana (SOL) is the 18th largest cryptocurrency in the world by market cap, valued at $9,478,195,794. The current price of Solana is $35.100, which is 8.334% higher than yesterday. Prices have ranged between $35.520 and $30.450 over the past 24 hours. All prices are listed in US dollars and accurate as of April 22, 2021 03:04 UTC.
Where to buy SolanaFind 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.
Solana coin priceUse our graph to track the performance of SOL over time.
Solana at a glance
|Total SOL supply||488,630,611|
|All time high||US$35.660|
|All time high date||April 19, 2021|
Solana price performance over time
How to sell Solana
You can cash out your SOL with the same exchange you bought it through:
- 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.
- Place a sell order.
Choose the amount of SOL you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Solana.
What to consider when buying Solana
- 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.
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