The Coinbase app is available for both Android and iOS devices and supports a wide range of payment options such as debit cards, bank transfers, PayPal, etc. Binance offers users numerous advanced features that make trading easy and fun and supports a wide range of coins, including Bitcoin, Ethereum, Cardano, Solana, and others. In addition to offering a plethora of digital assets, Binance has also launched an easy-to-use NFT platform. Solana is an open-source, proof-of-stake cryptocurrency ecosystem that supports smart contracts and decentralized applications, and SOL crypto is its native cryptocurrency. It was created in 2017 by Anatoly Yakovenko, and its main goal is to increase the scalability of these types of projects without sacrificing security or decentralization.
Many centralized exchanges reviewed by NerdWallet carry Solana, and centralized exchanges are a common way for beginners to get involved with a cryptocurrency. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. If you want to buy Solana, start by comparing a range of crypto brokers and exchanges available in the US.
Many long-term crypto investors use a blockchain or crypto wallet to store the keys to their coins. Some are concerned about the potential for cryptocurrency exchanges to be hacked, and want a more secure place for their assets. Others want to use their crypto on decentralized finance or other platforms, which is easier to do from a wallet. Next on our list is Kraken, a San Francisco-based cryptocurrency exchange founded in 2011. The company has a long track record of providing excellent services to its users and is one of the most respected exchanges in the world. It offers a wide range of features, such as margin trading, stop-loss orders, and others, and supports an impressive number of coins.
eToro
To buy Solana, you first need to create a Kraken account by providing your email address and creating the user name and password. After that, you will be asked to respond to some personal questions and provide some ID to verify your identity. Use your Solana to purchase goods and services from any participating merchant that accepts Solana and cryptocurrency. Convert your Solana to another cryptocurrency directly in your wallet or by using a DeFi application. MoonPay offers a fast and easy way to buy Solana with credit card. Smart contracts are tiny pieces of self-executing code that live on the blockchain.
Programmable or smart contract cryptocurrencies like Solana soared in popularity in recent years. A big reason for their success is that Ethereum (ETH), the leading smart contract crypto, struggles with high gas fees and heavy network congestion. As a result, Solana and other Ethereum alternatives have taken considerable market share. Whether you’re using a centralized or decentralized service, the trading process is pretty simple. Many or all of the products featured here are from our partners who compensate us.
For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services.
- To make matters more complicated, DEXes that sell Solana may not accept the cryptocurrency you own.
- Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues.
- While leaning on autopilot, users can avoid high volatility and set up recurring buy or sell orders.
- One of the things we liked the most about Kraken is that its fees go from as low as 0% and are calculated as a percentage of the trade’s quote currency volume.
- Yet, not all states are supported, and their residents can not buy or sell crypto through this platform.
In addition to making direct purchases of SOL, you can also consider setting up limit orders to target your ideal price. Please note, the deposit occurs when the money is received by Uphold. Learn more in our crypto tax guide or use our round-up of the best crypto tax software to make tax reporting easier. If you see colorful charts with a range of prices, you’re probably in the spot market.
After that, you can start trading by selecting the desired pair and placing a buy order. Aside from being a multi-asset platform, it offers an automatic trading feature that allows you to buy or sell tokens at the best market prices. While leaning on autopilot, users can avoid high volatility and set up recurring buy or sell orders. Now that you know where to buy Solana cryptocurrency, you’d probably want to hear more about Uphold’s other features.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. We believe everyone should be able to make financial decisions with confidence. With some cryptocurrency exchanges, you can buy and sell Solana paired with Tether (USDT), a stablecoin. If you’re relatively new to the cryptocurrency world, a stablecoin is a comparatively safe cryptocurrency with a more stable valuation. Today, Solana is used to support decentralized finance projects, including non-fungible tokens (NFTs), decentralized app developments (also known as dApps) and smart contracts.
Coinbase
Solana is a leading blockchain platform and a growing rival to Ethereum. Lots of crypto trading platforms can help you buy Solana with USD, including CEX.IO and eToro. FinCEN-registered exchanges contribute to a more secure financial system in the US and provide you with better consumer protections compared to exchanges based in other countries.
Without getting too technical, staking supports the network validators that verify transactions. By staking your coins, you contribute to the overall network security and earn SOL in return. If you’re going to buy or sell cryptocurrencies on a regular basis, trading fees can add up.
- At the time, they couldn’t process more than 15 transactions per second (TPS).
- Solana’s network is significantly faster than Ethereum’s due to its unique proof-of-history (PoH) technology.
- All they have to do is transfer crypto from their spot wallets to their funding wallets.
- More experienced investors can stake SOL from a Solana wallet such as Phantom or Sollet.
- The service will show you the conversion rate for whatever asset you’re using to pay.
- Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Beginner traders may be put off by the slightly unintuitive interface. But it may be a good option for more advanced traders who want to use its app and additional products. If you’re using a centralized exchange, you’ll be able to create an account relatively quickly, but you may have to provide some information such as a picture of your ID. While this might seem invasive at first, it’s normal on centralized exchanges. These companies have to comply with anti-money laundering and “know your customer” rules. That gave me an insider’s view of how banks and other institutions create financial products and services.
Best Crypto Exchanges and Apps
Coinbase is a great choice for anyone interested in cryptocurrencies and trading. It’s a highly secure platform, where millions of traders buy and sell various coins every day. And if you’re looking to buy SOL, it’s probably one of the best if not the best option around.
Cryptocurrency platforms are not always transparent about their costs. Some exchanges publish fee guidance, others hide the information in their terms and conditions. Before you deposit your cash, test out a sample trade to see what rate you get. The service will show you the conversion rate for whatever asset you’re using to pay.
With its stellar reputation, transparent fees structure, and convenient mobile wallets, Uphold is one of the best places to buy and sell SOL tokens. Users can instantly buy, sell or convert crypto via Kraken’s website or through the Kraken app. There are many reasons why people are interested in investing in Solana. It’s not only because there is the hype surrounding cryptocurrencies but also due to the fact this particular crypto is backed by a very strong team of developers. During the past few years, cryptocurrencies have become one of the hottest topics in the world. The main reason for this change is that a lot of people have started seeing the value of having a currency that is not controlled by any government or institution.
It can be a passport, a driver’s license, or some other personal document you have. Once that is done, all you have to do is add funds to your account, and you can start trading. The process is straightforward, so those who didn’t know how or where to buy Solana coin won’t have any trouble with this platform. Kraken has an exceptional reputation in the crypto community, and it is well-deserved. Today, eToro is one of the most trusted and regulated crypto exchange platforms in the world, with over 20 million users across 100 countries worldwide. Those who would like to know where to buy Solana in the US will be glad to hear that any US resident may register and open an eToro account for free.
Due to their centralized nature, these mainstream platforms provide some advantages in the form of simplicity. You can purchase cryptocurrencies with cash, for instance, which is helpful if you don’t own any crypto yet. And though crypto is not regulated in the same way as stock, crypto exchanges may offer some customer protections that are not available elsewhere in the crypto space. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only.
Finder.com is an independent comparison platform and
information service that aims to provide you with information to help you make better decisions. We may receive payment from our affiliates for featured placement of their products or services. We may also receive payment if you click on certain links posted on our site. Those wondering where to buy Solana don’t have to worry as they can do it on Coinbase.
This will usually allow you to deposit cryptocurrency, but not USD. To get started with Uphold, sign up for an account on the company’s website or using its mobile app. The registration process is pretty straightforward and shouldn’t take more than a few minutes. You’ll be asked to provide personal details and verify your identity by uploading a government ID.
Withdrawal fees
As you can see, Solana has a lot of potential, and it’s not surprising that it has drawn the attention of so many investors. Gain access to the rapidly expanding Solana NFT ecosystem by using SOL to mint, buy, and sell Solana NFTs. After you buy Solana, you can transfer it to anyone across the globe, as long as you know their Solana wallet address. Before you buy Solana, it’s a good idea to learn how it works, what gives it value, and some of its pros and cons.
Smart contracts power things like the decentralized finance (DeFi) industry and the booming non-fungible token (NFT) market. Make sure you check the fees before you decide which exchange to use. Carefully consider investing in SOL as part of a wider strategy, and talk to a financial advisor if you have any questions. Keep in mind that these are suggestions and that the exchange that is best for you will depend on your individual needs.
It has an average daily volume of 2.0 bn and allows 1,400,000+ per second. Buy Solana instantly with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more. If you do decide to use an external crypto wallet, bear in mind you’re essentially becoming your own bank. You’ll also need to keep your antivirus and malware protection up to date. If you lose your password, you may not be able to access your funds. When you invest in Solana or other cryptocurrencies, you must store your tokens using a crypto wallet.
The one that’s right for you will depend on how you plan to deposit money, how often you plan to buy Solana, and whether you want to withdraw your crypto. Storing Solana involves many of the same considerations that come up anytime you buy cryptocurrency. Unlike tokens such as Bitcoin, Dogecoin and Litecoin, Solana wasn’t designed primarily as a form of payment, and not all crypto payment protocols support it. If you’re using a DEX to buy Solana, it’s important to remember that transactions (even ones that are mistakes) may be irreversible.
After you’ve bought Solana
Solana’s website has a tool with which you can research DEXes and other projects that operate using its technology. At the time, they couldn’t process more than 15 transactions per second (TPS). Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Unfortunately, there’s no way to know for certain if any asset is a good investment, but there are some things you can do to help build an informed opinion.
