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How & Where to Buy Solana A Step-by-Step Guide to Buying SOL

  1. Sign up at Binance.US, the #1 rated SOL exchange.
  2. Fund your account with cash or crypto.
  3. Buy SolanaSOL
  1. STEP 1Find the Best SOL Exchange
    • logo
      Ease of use
      Time to 1st Buy
      24 hrs
      24h Volume

      Founded in 2019 as the USA-focused branch of the Binance family of exchanges, Binance.US supports trading in over 50 cryptocurrencies and has the same industry standard low 0.1% fees as the original international Binance exchange. American users can buy crypto directly with a debit card, but Binance.US is not available in 7 states, including New York & Texas.

    • fLpdtiaZ
      Ease of use
      Time to 1st Buy
      2 hrs
      24h Volume

      No platform has been able to attract first-time cryptocurrency investors quite like Coinbase. Each quarter, millions of new users sign up and take advantage of the simplest and smoothest customer purchasing journey in the market. Coinbase also aims to educate beginners, paying them in crypto to learn about different projects.

    • Current Coinbase Pro Review
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume

      Coinbase’s advanced cryptocurrency trading platform has lower fees and far more functionality. Formerly the highly popular GDAX, Coinbase Pro was purchased and rebranded with great success, now boasting one of the highest daily trading volumes and average liquidity. Highly secure with zero hacks. You can connect accounts to Coinbase to access wallet holdings.

    • kraken exchange
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume

      A decade of security, honesty, and transparency has given San Francisco’s Kraken an impressive reputation and helped it become the fourth-largest cryptocurrency exchange in the business. The brokerage service offered by Kraken has more coins to buy and sell directly with cash than most of their competitors. In addition, debit and credit card purchases are permitted with comparably low fees. Well-suited for beginners and those who want to buy and hold coins long-term.

    • Crypto Exchange
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume

      British cryptocurrency exchange CEX.IO proves that good things come in small packages, with the lowest credit and debit card fees, and one of the best off-ramp processes in the industry. Deposit fees in GBP are given a 50% discount, making them ultra-appealing to UK traders. Founded in 2013, with over 4m registered accounts. Recently branched out to the US.

    Go to Binance.US and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Solana SolanaSOL quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy SOL with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for SOL.

Frequently Asked Questions About Buying & Selling Solana (SOL)

How do I Buy SOL with Crypto?

If you want to buy SOL with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for Binance.US and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to Binance.US.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Solana (SOL)?

To sell SOL, simply reverse the buying process described above. You will likely need to trade your SolanaSOL into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Solana Research Center

Solana Technical Details & Statistics

  • Market Rank9
  • Market Cap16,891,922,181
  • Circulating Supply339,136,749
  • Total Supply511,616,946 SOL
Yesterday's Trading
  • 24 HR Volume1,384,911,109 USD
  • Yesterday's High / Low---
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  • Yesterday's Change---
All Time Performance
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Three key points to buy Solana (SOL) or not:

  1. Thanks to an innovative PoH algorithm that has proved to be a real breakthrough in blockchain technology, it is incredibly scalable. For investors, this means they are unlikely to see congestion and the knock-on issues that Bitcoin and Ethereum suffer.
  2. The transaction costs are low, even when the network has billions of users, so don’t expect to get stung by a busy network.
  3. The blockchain is composable, which essentially means it offers flexibility when connecting to other projects and blockchains, making it an attractive partner for cryptocurrency developers to work with.

SOL, the cryptocurrency supporting Solana Labs, offers two use cases. The primary use is Proof-of-Stake, which allows users to stake their SOL on the network or an active validator service and receive rewards for doing so, making it an excellent long-term investment. The secondary use for SOL is to pay transaction fees or smart contract fees on the network. 

Another reason investors want to buy SOL is because of the team running it. They have a solid foundation, their IP is protected, the development direction is clear and transparent, the code is open-source, developers are incentivized, and protocols are regularly updated. This is a high-quality project run by real experts, not an opportunistic venture that can line a few pockets.

What is Solana (SOL)?

Solana has been designed to offer a fast, secure, and censorship-free blockchain based on an open infrastructure model that works globally. It is supported by its native cryptocurrency, SOL, which started 2021 at just $1.80 and reached an all-time high of almost $56 in May.

Where to buy SOL in the US?

The best place for Americans to buy Solana (SOL) are:

Where to buy SOL in Europe?

Traders who want to buy Solana (SOL) in Europe have a better selection of exchanges to trade on:

How to Buy SOL

Choose one of the exchanges above, register and make an account, deposit fiat currency or a compatible cryptocurrency, and trade on a pair that features SOL. Each cryptocurrency exchange offers different pairs, with new ones being added quite frequently. 

How Solana Works

Solana’s goal is to create a blockchain that not only allows for scalability but is wholly optimized for it. In that sense, as the network gets more extensive and more active, it will get more powerful, rather than slowing down, as commonly happens to its predecessors. Developers will also use Solana to create dApps, decentralized applications, without being held back by design flaws and network congestion. It works based on Yakovenko’s 2017 Proof-of-History algorithm that automatically orders the network transactions. Like many third generation blockchains that embrace DeFi, it will also offer a Proof-of-Stake consensus to secure the network. All of this is achieved with low transaction costs and great flexibility.

Solana History

Solana started life at the back end of 2017 with a whitepaper offering a new timekeeping technique for distributed ledgers called Proof of History (PoH). This was the brainchild of Anatoly Yakovenko, Solana’s founder, who felt it is incredibly scalable. He solved the scalability issue that blockchains like Ethereum and Bitcoin continually suffer from. In addition, his solution tackled the transaction ordering process by offering an automated alternative. 

Using this PoH theory, Yakovenko teamed up with Greg Fitzgerald, and they built a blockchain network called Rust. The first testnet was released in February 2018 with a new whitepaper. Another developer, Stephen Akridge, spotted an opportunity in the signature verification process to increase transaction throughput. The three teamed up and started Solana Labs, with the first development initially called Loom, but quickly changed to Solana because of a rival Loom Network. 

In the spring of 2018, Solana Labs began its first funding campaign, raising over $20 million in coin sales. Development of the protocol continued for more than two decades, and in the autumn of 2020, its first testnet went live. Along the way, they raised millions more (including $4 million through CoinList) and also set up the Solana Foundation to create a sustainable way of funding ongoing development and community initiatives. In addition, the foundation encourages external developers to contribute to the project.

The distribution of SOL tokens has been very transparent, with the initial share looking like this:

  • 15.86% to Seed Round investors
  • 2.63 to Founding Sale investors
  • 5.07% to Validator Sale investors
  • 1.84% to Strategic Sale investors
  • 1.6% to Public Auction Sale investors
  • 12.5% to team members
  • 12.5% to the Solana Foundation
  • 38% to the Community reserve fund (managed by the Solana Foundation)