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How to Buy Solana(SOL)
- What is Solana(SOL)?
- Where to Buy Solana(SOL)?
- How to Buy Solana(SOL) with Cash/Credit Card/Debit Card?
- How to Buy Solana(SOL) with USDT From CEX?
- What to Do After I Buy Solana(SOL)
- Frequently asked questions
What is Solana(SOL)?
Solana is a fast, secure, and censorship resistant blockchain providing the open infrastructure required for global adoption. It is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3 and more. SOL is the native token of Solana, which can be passed to nodes in a Solana cluster in exchange for running an on-chain program or validating its output.
Where to Buy Solana(SOL)?
If you want to buy Solana, you may need to prepare the following things:
- Crypto exchange account or crypto wallet account. Except for the crypto exchange account, it is recommended to create a crypto wallet(such as Metamask) account. (What Is a Crypto wallet?)
- Personal identification document (if you are using the Know Your Customer (KYC) platform)
- Secure internet connection
- Valid payment methods, such as bank accounts, debit cards, and credit cards
Many crypto exchanges or crypto wallets provide Solana(SOL) over-the-counter (OTC) trading services and support buying Solana(SOL) with fiat currency. In that case, it is easy for you to choose a crypto exchange or crypto wallet to buy, sell, and trade Solana(SOL) with your local fiat currencies, such as USD, EUR, TRY, PHP, etc. You can select from one of the crypto exchanges and crypto wallets that support OTC Solana(SOL) trade listed by CoinCarp:
Huobi Global 
Coinbase 
OKX Except for buying Solana by cash (fiat currency), you can choose to purchase stable coins(such as USDT, USDC, BUSD, etc.) first, then swap them to Solana(SOL) in crypto exchange. Now, Solana(SOL) is listed in the following exchanges, you can choose one to buy, sell, and trade Solana(SOL) with stable coins or swap with other altcoins:
| Exchange | Pairs | Price | Volume | Volume% | 24h% | Updated |
|---|---|---|---|---|---|---|
 Binance | SOL/USDT | $239.05 | $1,820,224,832 | 27.74% | 1.75% | Recently |
| Binance | SOL/FDUSD | $239.01 | $652,240,355 | 9.94% | 1.92% | Recently |
 Bybit | SOL/USDT | $239.04 | $395,839,194 | 6.04% | 1.59% | Recently |
 OKX(OKEx) | SOL/USDT | $239.04 | $327,836,909 | 5.00% | 1.74% | Recently |
 Coinbase | SOL/USD | $239.23 | $305,196,991 | 4.65% | 1.91% | Recently |
 Kraken | SOL/USD | $239.15 | $247,059,973 | 3.77% | 0.68% | Recently |
How to Buy Solana(SOL) with Cash/Credit Card/Debit Card?
To buy Solana(SOL) using cash, such as USD (US Dollar), you will have to use a cryptocurrency exchange or financial service that supports funding via either your bank account or credit card. Different countries may have different supported platforms, for example, you can buy Solana(SOL) via Coinbase, Paypal (or Venmo), or Robinhood in the United States. However, for most of the countries, the mainstream platforms that support Solana(SOL) trading(OTC) with cash are centralized exchanges(CEX), such as Coinbase, Binance, etc. Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general procedures.
- Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. (Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
- Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account. You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
- Step 3: Add a payment (funding) method to your centralized exchanges(CEX)'s. To add a payment method to your account, you can either click on the "Add payment method" box that appears at the exchange or clicks on your profile photo and settings the payment methods.
- Step 4: You can choose to buy Solana(SOL) with a Debit/Credit Card, Bank Deposit, and Third-party Payment. Generally, it varies from different CEX and different areas. For US residents, if you are using Coinbase, you can click on the "Trade" button next to the coin then fill out how much US Dollars you'd like to invest in and click the "Buy" button.
Also, you can buy and sell Solana(SOL) on P2P platforms. P2P (Peer-to-Peer) trading is also known as C2C (Customer-to-Customer) trading in some regions. In P2P trade, the users directly buy or sell cryptocurrencies from each other on a P2P platform, exchange, or marketplace.
How to Buy Solana(SOL) with USDT From CEX?
- Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general procedures.
- Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. (Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
- Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account. You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
- Step 3: Use fiat to buy USDT. You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card.
- Step 4: Transfer your USDT purchased by fiat to the CEX that supports Solana(SOL) trading in spot market and buy Solana(SOL) in spot market by USDT.
Note: Some CEX may not available in your country or area, you'd better consult the exchange's customer service or check the announcement from exchanges. As for the tax issue, you may consult the local department for more information.
What to Do After I Buy Solana(SOL)
Store/Hold Solana(SOL)
Many investors hold their Solana with the expectation of it increases in value. You can store your Solana on your exchanges' wallets(such as Binance Wallet) or on crypto wallets( such as Trust Wallet), if you wish to store them for the long term, you can store them in a cold wallet instead of a hot wallet. ( Hot Wallets vs Cold Wallets: What's the Difference? ).
Trade Solana(SOL)
You can trade Solana(SOL) for other cryptocurrencies on crypto exchanges. Cex or Dex exchanges offer some trading pairs for Solana trading to meet your needs.
Earn Solana(SOL)
Earn Rewards by staking coins. Staking is a great way to maximize your holdings in staking coins that would otherwise be sitting in a wallet or trading account.
Transfer
Unlike sending money overseas, you can send Solana to anyone in the world virtually instantly.
Purchasing Goods
Some online platforms or offline shops accept crypto as payments. You can purchase good or service from these places.
Frequently Asked Questions(FAQ)
Can I buy 1 Solana(SOL)?
Is Solana a good investment in 2024?
For the people who truly believe in the value of cryptocurrency and the future application of crypto, Solana may be a worthwhile investment.
However, the crypto market is incredibly volatile like the stock market, it is not recommended to invest all your assets in crypto. Investors definitely need to evaluate the pros and cons of Solana. Sometimes you should do some research, for example, read the white paper of the project or check the data of historical Solana price or Solana Return On Investment(ROI). Ultimately, it depends on your appetite for risk.
How to Store Solana(SOL)?
If you want to keep and hold Solana(SOL) for the long term and do not plan to sell them, security may be the first thing you should consider. Although keeping them in most of the top exchanges' wallets nowadays is safer than before, with the development of security techniques, however, because of the very nature of the wallets in exchanges, they will be always online( so-called "hot wallet"), it is possible of being a hack. What's more, the exchanges shut down may cause the loss of your fund. So the safest way of storing your coins or tokens is always putting them into "Cold Wallets", it is the wallet that is totally offline. There are two types of cold wallets:
- Paper wallet: It is simply formed by using a program to randomly generate a public and private key offline and you can print them on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions.
- Hardware cold wallet: Hardware wallets are physical devices where you can store your cryptocurrency. Your crypto addresses and keys can be kept in a USB drive device, and only the person who possesses the USB drive can access the assets.
Nowadays, most people prefer to use hardware cold wallets, if you want to store a large number of coins or tokens, you can choose to use a hardware cold wallet to store your assets.
How long does it take to buy Solana(SOL)?
As for DEX, the transaction will be confirmed by the node in the network. The confirmation time depends on your gas price. If you submit with a low gas price, you can find your transaction taking a long time to process. For advice on what gas prices will result in a transaction being finalized in a reasonable amount of time, if you are using the Ethereum network, please refer to sources such as Etherscan's gas tracker, or a similar tracker for whichever network you're using.
Solana Price
Solana price today is $238.97 with a 24-hour trading volume of $6,557,928,544. SOL price is up 1.69% in the last 24 hours. It has a circulating supply of 474.58Mil SOL coins and a total supply of 588.56Mil.