How to Buy Solana (Sol)
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How to buy Sol
Just 3 easy steps to start investing in Solana
Create your account
Sign up on the website, and verify your account with complete information.
Select a payment
Select whether you want to purchase Sol with PayPal, Google Pay, etc.
Choose Sol, select how much you want to buy, and make your first investment.
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Learn more about Solana
What is Solana ?
Solana is the name of the blockchain created in 2017. Very soon after its release, it became one of the fastest blockchain networks with 2700 transactions per second. This feature made Solana very popular among people in the cryptocurrency world. To make the network more efficient, like the Cardano network, Solana also uses the proof-of-stake (PoS) technology, which also helps the network become more sustainable and scalable than the previous blockchains. Fast transactions, low fees, and low environmental impact are the benefits of the Solana blockchain.
What is Sol ?
Every blockchain has a native coin that can be used as an investment or a digital asset. SOL was released in 2020 as the official token of the Solana network. You can use it to create smart contracts, buy online products, and as an NFT trader. SOL has a market cap of $66 billion, which makes it the 5th largest cryptocurrency by market capitalization. A high market cap implies that the asset is highly valued by the market. The total supply of SOL was 530 million tokens in October 2022, and 67% of Solana’s supply is currently in circulation. Investing in Solana means buying SOL tokens, keeping them in a wallet until its price rises, and then selling the tokens on the blockchain.
Is Solana reliable
As mentioned in the history of Solana, its price had many ups and downs. It had the highest price of $260, and the lowest price was $11 in November 2022. This price drop was due to the network hack on August 3, 2022. An attack occurred on some of the decentralized wallet apps that worked with the Solana network, and almost 8000 wallets were hacked, and an estimated amount of $8 million SOL was drained. It was the bad news that made SOL's price fall to its lowest price.
This story may make you think that Solana is not reliable and safe, but that’s not true. Using PoS and PoH concepts has made this network so secure. However, the world of cryptocurrency is not 100% protected from hackers. However, you should always care about what wallet you choose to hold your coins. Generally, hardware wallets are more secure than software wallets and mobile apps. Therefore, if you want to invest in Solana and are concerned about its security, choose a hardware wallet to keep your investment more secure. If you want to invest in a more secure blockchain, you can consider Cardano as a better alternative to Solana.
After you've bought Sol
Like any other coin in the cryptocurrency world, there are lots of ways you can consume your coins. You can use SOL to purchase something on the internet; nevertheless, the seller should accept your coin. Therefore, if you want to use SOL coins to buy something, check the brands and companies that support SOL. Additionally, you can trade your coins with an NFT. If you don’t want to spend your SOL tokens, you can keep them as an investment. SOL is assumed to be a great long-term investment.
Meanwhile, since the cryptocurrency world is so volatile, it’s better to consider an exit point for your investment. It can be a price that you consider the right price for selling the coin. Moreover, you should always keep an eye on the price of SOL, read its whitepapers, and check what experts and analysts say about it on their social media.
Your entry to the world of crypto
Other Methods of buying Solana
Where can I buy Solana
If there is any crypto ATM near you, it is possible to buy some coins with these machines and you should check to see whether it sells Solana or not. However, the process is not as simple as it seems. Furthermore, the ATM rates are somehow more than other methods.
You can buy Solana directly from another person over the web.
Crypto Exchanges are the safest places for buying Solana. You can use Blocktrade as a cheap, secure, and global exchange to buy Sol. You don’t need to pay any trading fee while using Blocktrade exchange. Sign up for free, create an account, and purchase Sol with a few clicks.
How to sell Solana
Sign up and verify your Blocktrade account
You’ll need a username, email address and a strong password to sign up on Blocktrade. Then, you'll be guided to verify your account.
Deposit Sol to your Blocktrade account
To sell Solana on Blocktrade, generate a deposit address and transfer the desired amount - just as simple as sending it to any Solana address.
Start selling Solana!
Once you deposited your Solana in your Blocktrade deposit address, you’ll be able to sell your Sol.
Frequently asked questions
Since Solana has a higher speed, lower fee, and scalability of Solana makes it a better alternative to Ethereum. However, many experts on the cryptocurrency market believe that Solana still needs to become more secure.
You can select an exchange wallet to buy Solana. The process is straightforward and depends on the wallet you choose. Normally, you should sign up and create an account on an exchange like Blocktrade, then start buying SOL.
The cost of buying Solana can vary depending on where, how, and when you purchase it. Typically, the price is determined by supply and demand in the cryptocurrency market. The price can also be influenced by market sentiment and news about the cryptocurrency. To find the current price of Sol, you can either log in to our website and see the real-time price or check our Solana Calculator to see the price of Solana in your desired currency.
On the list of the fastest cryptocurrencies, Bitgert is the fastest blockchain. However, that doesn’t mean Bitgert is better than Solana, there are other factors that you need to consider while buying a crypto.
There are several options to buy Sol such as cryptocurrency exchanges, Peer-to-peer marketplaces, Solana brokers, etc. However, cryptocurrency exchanges are among the most popular ways to buy Solana for beginners. You can easily buy Solana without any buying fees from our exchange.
Analysts and experts in the cryptocurrency have predicted a bright future for Solana in the next ten years. If you think about a long-term investment, Solana could be a good option.
There is no right time to buy Solana, as the price is highly volatile and can fluctuate rapidly. Some experts believe that the best time to buy is when the price is low and predicted to rise, while others believe in buying and holding for the long term.
It is always recommended to do your own research, understand the risks, and have a clear investment strategy before buying Solana or any other cryptocurrency.