Buy Solana [SOL]

WhiteBIT
Published 09 August 2022
8370

Content

Statistics
Ticker
SOL
Market Rank
position
In circulation
0 / 0
Numbers
Data on 08.12
Price SOL
$13.48
Capitalization
$0
Dynamics of 24 h.
-1,15%

Solana is one of the leading blockchain projects that address the most painful issue of the blockchain trilemma, scalability. Launched in 2017, the layer-1 network has already gained the trust of millions of users worldwide. Solana is nowadays among the fastest blockchains on the market, with the ability to process 60,000 transactions per second. It became possible thanks to the Proof of History consensus algorithm that was invented by the Solana developers’ team. The Turbine protocol also contributes to the success of the network’s scalability. It is believed that the future scalability indicator can reach 710,000 transactions per second.

The Solana blockchain is viewed as a fitting rival for Ethereum, and no wonder! The interest in the network’s native cryptocurrency, Solana (SOL), is growing exponentially. All thanks to the rich environment for DeFi projects development, and, of course, cosmic scalability.

How to buy Solana (SOL)?

Before buying any cryptocurrency, make sure to choose a proper crypto wallet. There are hot (software) and cold (hardware) wallets for storing cryptocurrency. Considering the growing popularity of Solana, you will not have problems with choosing a compatible crypto wallet.

After the purchase, decide where it is more convenient for you to buy the cryptocurrency. There are a few reliable options: a centralized crypto exchange, an exchange service, or a peer-to-peer platform. Let’s take a look at each of them in detail.

Buy SOL on a centralized exchange

If you cherish safety and security, or if you’re new to the world of cryptos, choose a centralized crypto exchange with a solid reputation. The biggest advantage of using the service of CEX (centralized crypto exchange) is the presence of a third party that watches your funds and guarantees their safety. Hence, you can stay relatively calm when it comes to storing your cryptos, as the respectable exchange will take care of it. In turn, there are a few ways to buy SOL on a centralized exchange:

  • by placing a trading order;
  • by exchanging it for another asset;
  • via a bank card.

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Buy Solana via an exchanger

Another popular way of buying cryptocurrency, namely Solana, is via a crypto exchanger. The most appealing part of buying SOL via an exchange service is the speed. Normally, you don’t need to create accounts, pass verification, or anything else. You can offer your asset, indicate the amount you want to sell, and receive the amount of SOL. It works just like the exchange service of traditional currencies. The only unpleasing moment is high fees and a relatively scarce variety of cryptocurrencies available on the service compared to the centralized crypto exchange.

Buy SOL on a P2P platform

Peer-to-peer exchanges are highly popular among crypto fans, namely because they don’t require identity verification which preserves anonymity. The principle is simple: you trade assets with others on your own, without third parties or intermediaries. The main advantage of p2p platforms is the absence of trading fees. Weak security is, on the other hand, their biggest disadvantage. Hence, before buying Solana on a p2p platform, make sure you conducted research about the platform and read the reviews.

Solana chart

You can trace the movements of the Sol price with the help of Solana price chart. To see the detailed SOL chart, visit our exchange.

Solana price

Bearish market touched every cryptocurrency from the Top-10 world ranking. However, the depth of the price falls varies from one asset to another. At the moment of writing, Solana crypto price equals now $44,67 which did not indicate a drastic price drop. At the beginning of the bearish trend, sol price showed more critical downward movement with a fast recovery.

How to handle SOL

There are a few options for making profit on Solana cryptocurrency.

Holding
Solana is a great crypto for holding, as the asset has proved to increase in the past, and its price predictions promise value growth in a couple of months. WhiteBIT crypto exchange offers six SMART Staking plans for passive income with SOL from 10 days up to 360 days that can bring up to 28% of income.
Trading
The volatility of the crypto market is a drawback and an advantage for crypto traders, as they can earn on any price movements. Solana has a relatively steady price level with a growth prospect. You can buy sol on the WhiteBIT exchange. The most popular pairs for trading SOL are SOL/BTC and SOL/USDT. You can easily find them on our exchange.

Solana: price prediction

The analysts of CoinPriceForecast predict the price of SOL to reach a level of $126 by the mid of 2025 and keep its position. The so-called crypto winter that started with the Terra fall and the Bitcoin price decrease has affected the price of solana as well as other leading crypto assets. However, any positive changes in the value of the main crypto will affect solana respectively.

Solana wallet

Before buying any cryptocurrency, make sure to choose proper solana wallets. There are hot (software) and cold (hardware) wallets for storing cryptocurrency. Considering the growing popularity of Solana, you will not have problems with choosing a compatible crypto wallet. The sol wallet is an important part of your trading and holding success, as choosing the right option will ensure the safety of your funds.

Is Solana a good investment?

Of course! Sol is a great option for both long term and short term investment, as it has a $12.08 billion market capitalization and takes the 9th place in the Top-10 cryptos in the global ranking. Solana is a good investment due to numerous reasons. First of all, it has a solid positive dynamic of growth and a scalable and innovative blockchain, considered one of the best in the industry. Big crypto players as well as smaller traders choose to invest in solana because of its revolutionary concept and strong ambitions.

FAQ

What is Solana (SOL) crypto?

SOL is a native cryptocurrency of the Solana network ranking #9 by market capitalization with a price sol to usd $34. The ATH of SOL is ​​$259.96.

Why is SOL so popular?

SOL is one of the most popular crypto projects on the market due to the efficiency of its network, Solana. It is considered the fastest blockchain with incredible scalability. The SOL coin is a permanent member of the top 10 cryptos by market capitalization.

Where to buy Solana?

The easiest and the safest way to buy sol is via a centralized crypto exchange. Sign up on the platform, pass verification, and buy SOL with national currency right with your bank card. You can also acquire it via sol currency exchange or by placing an order.

Can I buy SOL with fiat?

Yes, you can use the Buy crypto option on the WhiteBIT exchange and buy sol currency to usd or euro. But keep in mind that for carrying out operations with national currencies, you will need to pass identity verification.

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