How to Buy Solana (SOL) in 4 Easy Steps

Price updated 3 mins ago

Quick Answer:

You can buy Solana and have it in your wallet in less than one hour in 4 simple steps:

  1. Find the best exchange that sells Solana.
  2. Register a new account.
  3. Fund your account.
  4. Buy Solana.
SOL
$181.47715621213

These steps are simple if you know where to buy Solana cryptocurrency -- but knowing where to buy is the hard part.

Many cryptocurrencies are only offered on less well-known exchanges, and finding the best place to buy Solana (SOL) and then figuring out if that exchange is trustworthy is more than most people - even experienced crypto traders - can handle!

We've done all the hard research for you. Let's get started.

Step 1Find the Best Solana Exchange

Ultimately, doing your own research in crypto is the best way to learn the processes of moving your money, finding promising investment opportunities, and buying and selling cryptocurrencies.

We have done years of work to make this as simple as possible for you.

Why You Should Trust Our Recommendations

346

We started with 346 crypto exchanges.

We start by evaluating our comprehensive list of 346 exchanges that we have spent 7+ years and 600+ hours gathering data on.

90

Only

90

of these exchanges sell Solana.

We then filter down the entire set of possible marketplaces to only the ones that have active SOL markets.

39

Only

39

of these exchanges have $100m in daily trade volume.

We then remove any exchanges that don't have adequate trading volume to make buys and sales of all sizes.

8

Only

8

remaining exchanges received a 7/10 Trust Score.

We give each exchange a trust review rating using history, longevity, proof of reserves, and reputation.

1

Apply our editorial review process to rank the remaining exchanges.

We manually review the remaining candidates to declare a winner.

The Winner is Coinbase

VISIT Coinbase Read Review
Reasons we ♥ Coinbase
Low fees
Educational incentives
Quick withdrawals
CRYPTOCURRENCIES: 238
FUNDING:
Bank Transfer (ACH)
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Debit Card
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Wire Transfer
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Paypal
,
Apple Pay
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Google Pay
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SEPA
,
EFTCAD
,
Interac
,
SGD Transfers
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3D Secure Card UK
,
Easy Bank Transfer UK
,
Faster Payments UK
,
Instant Card Cashouts UK
,
PayPal UK
,

Step 2Register Your New Account

  1. Prepare Personal Information: Collect your personal details, including your name, address, and documents for identity and address verification.
  2. Create an Account: Visit the Coinbase Pro website, click "Sign Up," and provide your name, email address, and country of residence. Then, create a secure password and, if desired, set up two-factor authentication with your phone number.
  3. Agree to Terms: Read and agree to the user agreement and privacy statement.
  4. Verify Identity: Complete a two-step identity verification process by uploading a government-issued ID (passport, driver's license, or national ID card) and taking a selfie to confirm the validity of the photo ID.
  5. Wait for Approval: Wait for Coinbase Pro to review and validate the documents, which can take up to 48 hours, followed by immediate account verification upon approval​​.

Step 3Fund Your Account

Once you have registered or logged in to your account at , there are several funding methods you can use to buy Solana cryptocurrency.

You can buy Solana on using:

Please select listing to show.

  • Bank Transfer (ACH) 3-5 business days processing time
  • Debit Card Instant processing time
  • Wire Transfer 1-3 business days processing time
  • Paypal Instant processing time
  • Apple Pay Instant processing time
  • Google Pay Instant processing time
  • SEPA 1-3 business days processing time
  • EFTCAD 3-4 business days processing time
  • Interac Instant processing time
  • SGD Transfers 2-3 business days, Same day for a fee processing time
  • 3D Secure Card UK Instant processing time
  • Easy Bank Transfer UK Less than 2 hours processing time
  • Faster Payments UK 1-3 business days processing time
  • Instant Card Cashouts UK Instant processing time
  • PayPal UK Instant processing time

Step 4Buy Solana (SOL)

After registering and funding your account at , you should be able to buy Solana after your deposit finishes processing. After you receive your SOL, make sure to secure it and follow best security practices to avoid losing it scams or hacks.

Best Solana Exchanges

Solana is also available on these exchanges:


Frequently Asked Questions

Yes, Solana is safe to buy. It is listed for trade on some of our top-rated exchanges including Binance, Zengo, Coinbase, Kraken, KuCoin, Bybit, OKX, Gate.io, BingX.

You can buy Solana instantly at Binance, Zengo, Coinbase using their instant buy feature or a credit card.

Yes you can buy less than one (1) SOL. Cryptocurrencies in general are divisible to 16 decimal places.

To buy Solana, you will need to deposit funds into your exchange account - which usually has no fees - and then buy SOL, which will incur a trading or purchase fee; usually 0.1-3% depending on the exchange.

You can buy $1 of Solana at Binance, Zengo, Coinbase.

Solana Investment & Buying Guide

Diving into the world of Solana, you’re uncovering a cryptocurrency that’s turning heads with its lightning-fast transactions and innovative proof-of-history (PoH) consensus. This formidable player stands out in a crowded market, promising scalability and speed that could redefine crypto usability.

As you explore Solana, you’ll find it’s not just another coin on the block. It’s a platform built for mass adoption, with a growing ecosystem that supports everything from decentralized apps (dApps) to non-fungible tokens (NFTs). Get ready to discover how Solana is carving its niche in the digital currency landscape.

What is Solana Cryptocurrency?

How Does Solana Compare to Other Cryptocurrencies?

Solana stands out for its unmatched transaction speeds and low costs. Its hybrid Proof of History (PoH) and Proof of Stake (PoS) consensus allows for scalability without sacrificing security.

While Bitcoin processes around 7 transactions per second (tps) and Ethereum around 15-30 tps, Solana boasts an impressive 65,000 tps. This is critical as cryptocurrencies aim to compete with traditional financial systems.

Cost-wise, Solana is a game-changer with its average transaction fee being $0.00025. In contrast, Ethereum’s fees, known as ‘Gas,’ can range from a few dollars to over fifty.

The ecosystem of Solana supports decentralized finance (DeFi), non-fungible tokens (NFTs), and various decentralized apps (dApps). This positions Solana as a direct competitor to Ethereum’s established ecosystem.

Furthermore, Solana uses significantly less energy per transaction compared to cryptocurrencies like Bitcoin, addressing environmental concerns linked to blockchain technology.

Feature Solana Bitcoin Ethereum
Consensus Mechanism PoH/PoS hybrid Proof of Work (PoW) PoW (transitioning to PoS)
Transaction Speeds (tps) 65,000 7 15-30
Average Transaction Fee $0.00025 Variable Variable

Adoption rates for Solana are climbing as users seek alternatives to congested networks. It’s no wonder Solana is often touted as one of the most promising challengers in the cryptocurrency space.

Solana History & Growth

Solana was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. Its inception was spearheaded by former Qualcomm executive Anatoly Yakovenko, who designed Solana with efficiency in mind. The project quickly gained traction in the crypto community, thanks to its revolutionary Proof of History model which works in conjunction with Proof of Stake.

In its first year, Solana successfully completed a series of strategic funding rounds. This capital injection boosted the network’s development and marketing efforts. By 2021, Solana’s native token, SOL, saw a monumental rise in value indicative of the network’s growing adoption and investor confidence.

The platform’s architecture set it apart, paving the way for high-speed transactions and reduced network congestion. Its thriving ecosystem swiftly expanded to include a wide array of DeFi applications, with over 400 projects now built on the Solana blockchain.

Key partnerships and integrations have played a crucial role in Solana’s growth. Its collaboration with leading stablecoins and digital asset wallets has enhanced the network’s versatility and user accessibility.

Solana’s performance metrics reveal how rapidly the network is scaling, with improvements and updates continuously implemented to meet demand. With each passing quarter, Solana’s network demonstrates increasing transaction volumes and enhanced stability, even as the user base swells.

Growth isn’t without challenges; Solana has faced downtime incidents, yet the community remains bullish. These setbacks highlight the network’s resilience and the team’s commitment to addressing vulnerabilities, ensuring long-term sustainability.

As the crypto landscape evolves, so does Solana. The network is constantly refining its protocols to maintain its edge as a high-performance decentralized blockchain platform.

Buying Solana with Different Payment Methods

As you explore the world of cryptocurrency, understanding how to purchase Solana (SOL) using various payment options is crucial to diversify your investment methods. Below you’ll find detailed steps and tips on acquiring SOL through different channels.

Buying Solana with a Credit Card

You can purchase Solana with a credit card on several cryptocurrency exchanges. This method is fast and convenient, allowing you to instantly buy SOL with funds borrowed from your credit card provider. Remember, however, that some banks may not approve transactions related to cryptocurrencies, and there could be additional fees associated with credit card purchases.

Buying Solana with a Debit Card

Using a debit card to buy Solana is another straightforward option available on most crypto trading platforms. It’s often preferred for its direct access to your bank funds, resulting in fewer surprises in terms of transaction approval and cost. Always check for exchange-specific instructions to ensure a smooth buying process.

Buying Solana with Apple Pay

For iOS users, some wallets and exchanges allow you to buy Solana using Apple Pay. This method is particularly convenient for quick, seamless purchases with the security and simplicity Apple Pay provides. Transactions typically complete in just a few taps on your device, merging the tech-savvy world of cryptocurrency with the everyday ease of mobile payments.

Buying Solana with Paypal

PayPal, a widely trusted digital payment gateway, offers an option to buy cryptocurrencies, including Solana. Its user-friendly interface makes buying SOL straightforward, and since PayPal is a familiar name, it lends a level of comfort to those new to crypto. Keep in mind transaction fees and restrictions that might apply through PayPal’s service.

Buying Solana with a Bank Transfer

Finally, acquiring Solana via a bank transfer is a cost-effective method, avoiding some of the higher fees associated with credit/debit card purchases. Bank transfers are secure, with higher transaction limits, making them ideal for substantial investments. However, this method may take longer, with processing times varying from a few hours to several business days, depending on your bank and the crypto exchange.

Keeping Your Solana Safe

When you’re delving into the world of cryptocurrencies like Solana, securing your assets is crucial. Protecting your SOL tokens involves choosing the right wallets that offer robust security features while maintaining ease of access and transferability.

Software Wallets

Software wallets are applications you can download to your computer or smartphone. They’re convenient for regular transactions and give you easy access to your Solana assets. The security of software wallets hinges on the strength of your personal cybersecurity practices, such as using complex passwords and enabling two-factor authentication. It’s important to know that while software wallets are secure, they’re not as impervious to hacking as hardware wallets.

Hardware Wallets

Hardware wallets are physical devices that store your cryptocurrency offline. They are the gold standard for security in the cryptocurrency world, providing an airlock from online threats. Transactions with a hardware wallet require physical confirmation, which reduces the risk of unauthorized access. Remember, your private keys never leave the device, drastically reducing the chances of hacking. If you’re holding significant amounts of SOL, investing in a hardware wallet could be a wise decision to ensure the safety of your investment.

Remember, the key to keeping your Solana safe lies in the careful selection and use of your wallets, alongside maintaining vigilant security practices.

Selling & Withdrawing Solana

Once you’ve decided to sell your Solana, cryptocurrency exchanges are your go-to option. Here, you can trade your SOL for fiat currencies like USD, EUR, or other cryptocurrencies. Always check the exchange rates and transaction fees beforehand to maximize your returns. Verification procedures are standard to comply with KYC (Know Your Customer) regulations, ensuring safe and legal transactions.

To initiate a withdrawal, you’ll navigate to the exchange wallet and select the ‘Withdraw’ option. Enter the amount you wish to withdraw and select your preferred method of transfer. The time taken for the withdrawal to process varies with the chosen method, with options like bank transfers typically taking a few business days.

For swifter transactions, consider crypto-friendly online banks or digital wallets that can expedite the process. Always review the security features of these services to safeguard your funds effectively. As the Solana network progresses, more user-friendly mechanisms for selling and withdrawing are anticipated, enhancing liquidity and user experience.

Set up notifications to stay informed about the optimal times to sell based on market conditions. Remember, keeping track of taxation related to crypto transactions is crucial as it might impact your net gains.

Is Solana a Good Investment?

Evaluating Solana as an investment requires examining its performance and potential in the rapidly growing crypto space. Solana stands out with its ability to process over 65,000 transactions per second (TPS), far exceeding Ethereum’s current capabilities. This high throughput is a compelling reason for investors to consider Solana, as it targets one of the most critical pain points in the blockchain industry: scalability.

Its ecosystem is rapidly expanding, with more than 400 projects spanning DeFi, Web3, and non-fungible tokens (NFTs). This diversity shows Solana’s potential for sustained growth as it becomes the foundation for new blockchain applications. The network’s SPL token standard has gained traction, becoming the go-to for many developers launching new projects.

Solana’s price history indicates strong market confidence, reflected in the rise in value of its native token, SOL. From just $0.78 in May 2020 to its all-time high of over $200 in 2021, SOL’s value increase signals a bullish trend among investors. Its market capitalization has established it as one of the top cryptocurrencies, suggesting a positive outlook for its future value.

Investors are also buoyed by strategic partnerships and integrations, which may drive increased adoption and network activity. Solana has collaborated with major players in the tech and finance sectors, potentially bolstering its legitimacy and user base.

However, it’s essential to acknowledge the risks. Solana has experienced some network outages, highlighting the importance of technical stability. Like any investment, patience and due diligence are paramount when considering putting money into Solana or any other cryptocurrency. Keep a close watch on market trends, development updates, and community engagement for an informed investment strategy.

Solana Price Predictions

Predicting the future price of Solana, like any cryptocurrency, involves uncertainty and should be approached with caution. Despite market volatility, experts look at several indicators to forecast potential outcomes. Historical data suggests periods of rapid growth in the cryptocurrency market are often followed by corrections. Solana, with its robust infrastructure and expanding ecosystem, has the capacity to rebound strongly after market dips.

In 2021, SOL’s value saw an impressive surge, peaking at nearly its all-time high. This peak was driven by widespread adoption and the strength of its underlying technology. Analysts leveraging technical analysis forecast that Solana could experience significant growth in the coming years if current trends continue. Scalability improvements and strategic partnerships are key drivers that may fuel Solana’s upward trajectory.

Community growth and network developments also play an essential role in price projections. An active community can lead to higher demand and hence a potential increase in SOL’s price. Upcoming protocol upgrades and milestones may influence investor sentiment and thus Solana’s valuation.

Year Predicted Range
2023 $100 – $200
2024 $150 – $300
2025 $200 – $400

Remember, predictions are not guarantees – always perform your own research and consider multiple sources. Keep an eye on global economic conditions as they can significantly impact crypto markets. Stay informed by following Solana’s official announcements and the broader crypto news outlets.

Additional Info

As you’ve delved into the world of Solana, you’ve uncovered the robust architecture and strategic partnerships that make it a standout in the crypto space. You’ve learned how to invest in SOL and the importance of staying abreast of market trends. Remember, the crypto market is volatile and while Solana shows great promise, it’s essential to do your due diligence. Keep an eye on Solana’s advancements and ecosystem growth as they will be critical in shaping its trajectory. Armed with this knowledge, you’re better positioned to make informed decisions about your crypto investments. Stay curious, stay informed, and most importantly, invest wisely.

Solana (SOL)
Price
$181.47715621213
24h Change
0.4
7d Change
-7.7