When it comes to price predictions, the crypto market always proves everyone is wrong, and Solana (SOL) is one of those coins that broke the prediction myth. So today we are going to talk about Solana and how to buy Solana (SOL) coins.
Like Dogecoin and Yearn Finance, Solana emerged from nowhere and gained lots of popularity, bringing it to the 6th position on the CoinMarketCap rank with a current price of $200.
Unlike other cryptos, Solana aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Solana is an open-source project that uses the permission-less aspect of blockchain technology to create decentralized financial (DeFi) solutions. While the concept and first work on the project began in 2017, the Solana Foundation, based in Geneva, Switzerland, formally launched the project in March 2020.
The most key person behind Solana is Anatoly Yakovenko. He began his career with Qualcomm, where he quickly rose through the ranks, eventually becoming senior staff engineer manager in 2015. Later in his career, Yakovenko moved gears and accepted a new role as a software developer at Dropbox.
In 2017, Yakovenko began work on a project that would eventually become Solana. He formed a company called Solana Labs with his Qualcomm colleague Greg Fitzgerald. The Solana protocol and SOL cryptocurrency were released to the public in 2020, attracting numerous more former Qualcomm colleagues in the process.
Price history of Solana (SOL).
Normally, the crypto price is very volatile and can go up and down in a minute, but in Solana’s case, it looks different. Even when the market is deep, Solana performs better than other coins.
Currently, it is in the 6th position of the CMC rank with a price of $200, while the total market cap is around $58.4 billion. The lowest SOL was $0.50 in March 2020, and the highest price was $214 in September 2021.
You can get Solana two ways: first, buy Solana directly with your country’s currency or exchange your coins into Solana. So let’s see which one is the best.
Buy Solana on Binance.
We don’t think I have to explain Binance; you pretty much know about it. Solana has been listed on both Binance and Binance US.
On Binance you can buy Solana with AUD, GBP, BRL, RUB, EUR, TRY directly (because of regulation some currency could be not available), and also you can exchange Solana with USDT, BUSD, BTC, BNB, BIDR coins.
On Binance US you can buy Solana with USD and can exchange Solana with USDT. To start with Binance, create an account and then complete the KYC verification for buying Solana if you just want to exchange Solana the KYC is not necessary.
Binance has Solana staking feature, so if you plan to hold Solana for a few months or years, then you have a chance to earn extra.
On Coinbase Pro, you can easily buy Solana after completing KYC verification. It allows you to buy Solana with USD, EUR, and GBP and can be exchanged with BTC and USDT pairs.
Buy and sell will only happen in the Coinbase Wallet, and then you have to connect it to Coinbase Pro to trade Solana. Simplicity is the best thing about Coinbase Pro, which requires no knowledge to trade any coins.
It’s pretty hard to buy Solana or even any coin with INR (India), so if you are one of those users, then you can try WazirX, BitBNS, and CoinCDX to get your first Solana.
On WazirX and CoinCDX you can exchange SOL with USDT after buying with INR while on BitBNS you can buy SOL with INR directly.
To buy Solana on any of this, you have to complete KYC after creating an account. Wazirx is required by Binance, so after buying Solana, you can connect your WazirX account to your Binance account. This is the best trick to transfer your coins from Wazirx to Binance or from Binance to WizerX.
Huobi Global is one of the leading cryptocurrency platforms that allows its users to do something extra with their cryptos, such as trading, exchanging, staking, and lending. And as well as buying and selling cryptos via bank card, bank account, Western Union, SEPA, and many more.
Like others, it does not allow you to buy Solana directly, so if you need USDT, BTC, or ETH, you can exchange them for Solana. On HG, buying cryptos does not require KYC verification.
If you like a centralized and simple place to deal with Solana, then go to Gate.io, where you can exchange your USDT for Solana coin with a minimum $0.5 order.
On Gate.io you don’t need any kind of KYC to exchange Solana but necessary to complete your KYC for extra security.
To start with Gate.io, go to the website or download the app, then create an account by entering your email and password. After a complete set of security measures, your account is ready to use now. Go to My Balance, find USDT, click Deposit Address, and then deposit only USDT coins at the address. You can also deposit other coins, but you will need to exchange them for USDT first.
Now you are ready to get Solana, go to trade (Spot Trading) search for Solana (SOL) and click on it to find the best low price, and place your order by clicking on buy Solana as soon as you price match your coin will arrive in your account.
In case you don’t have any coins or don’t want to sell them, you can simply buy USDT on Gate.io with your credit card or bank account.
This is the best place for beginners and users who want to start investing with a low amount. The lowest amount to exchange USDT into Solana is $0.5.
If you don’t have USDT to buy Solana, then you can get it via a bank account, P2P, or credit card. KuCoin does not require KYC verification to buy Solana, but if you do, your trading fee will reduce, so try to verify KYC if possible.
The exchange launched in May 2019 and provides its users with access to a range of innovative trading products, including Solana options, over 45 leveraged tokens, 20 perpetual swaps, MOVE contracts, and prediction markets.
It provides USD, USDT, and BTC pairs to exchange Solana. You can also stake your SOL and receive 6% annualized staking rewards. For the USA, it has FTX US that supports USD and USDT pairs.
Here are some popular websites to buy or exchange Solana that did not qualify for the list.
Always use platforms that have high trading value to avoid fill-up delays, but if you want to hold after buying Solana, then try a platform with top security too. By the way, what do you think about Solana and these platforms? Are you looking to buy Solana? Let me know.