How to buy Solana | Buy SOL in 3 steps | finder.com

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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.

  1. Open an account on an exchange that supports SOL.
    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.
The whole process can take as little as 15 minutes.
Disclaimer: This information is not advice to buy cryptocurrency, a recommendation for Solana or an endorsement of any particular provider or service. Talk with a financial professional before any investment or purchase.

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 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
FTX.US Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Wire transfer
USD, AUD, EUR, CAD, GBP, SGD

19
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.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
USD

49
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.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
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Compare up to 4 providers

Solana coin price

Use our graph to track the performance of SOL over time.

Solana at a glance

Information last updated April 22, 2021 03:04 UTC.
Coin symbol SOL
Total SOL supply 488,630,611
Circulating SOL 270,018,752
Current price US$35.1
All time high US$35.660
All time high date April 19, 2021

Solana price performance over time

Historical prices compared with the price of US$35.10.

1 hour 1.67%
24 hours 8.33%
7 days 32.70%
14 days 31.59%
30 days 136.05%
60 days 249.46%
200 days 1,274.59%
1 year 6,027.85%

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

  • 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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