Like Dogecoin and Yearn Finance, Solana emerged from nowhere gained lots of popularity that bring Solana to the 6th position on CoinMarketCap rank with currently $200 price.
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.
What is Solana (SOL)?
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 big 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 standing in the 6th position of CMC rank with a price of $200 while the total market cap is around $58.4 Billion. The lowest was SOL was $0.50 in March 2020 and the highest price was $214 in September 2021.
Where to get Solana?
You can get Solana two ways first buy Solana directly with your country currency or exchange your coins into Solana. So let's see which one is the best way.
1. Buy Solana on Binance.
I don't think I have to explain about Binance you pretty much know about it. Solana has 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 planning to hold Solana for a few months or years then you have a chance to earn extra
2. Buy Solana on Coinbase Exchnage.
On Coinbase Pro you can easily buy Solana after completing KYC verification. It allows you to buy Solana with USD, EUR GBP and can be exchange Solana with BTC, USDT pairs.
Buy and sell will only happen in Coinbase Wallet and then you have to connect it to Coinbase Pro to trade Solana. Simplicity is the best thing of Coinbase Pro that requires no knowledge to trade any coins.
3. Buy Solana on WazirX, BitBNS.
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.
4. Exchange Solana on Huobi Global.
Huobi Global is one of the cryptocurrency leading platforms that allows its users to do something extra with their cryptos such as trading, exchange, staking, 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 you need USDT, BTC, ETH then you can exchange it for Solana. On HG to buy cryptos does not require KYC verification.
5. Exchange Solana on Gate.io.
If you like centralized and simple features place to deal with Solana, then go for Gate.io here you can exchange your USDT with 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 few security set up your account is ready to use now, go My Balance and find USDT and click deposit address and then deposit only USDT coin on the address. You can also deposit other coins but you will need to exchange it 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 coin or don't want to sell you other coins then simply buy USDT on Gate.io with your credit card or Bank account.
6. Exchange Solana on KuCoin.
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 it your trading fee will reduce so try to verify KYC if possible.
7. Exchange Solana on OKex.
OKex is similar to KuCoin with higher security features. It gives three pairs BTC, ETH, USDT to trade with Solana.
If you don't have any coin to get SOL, then don't worry it has many payment methods and supporting fiat than other platforms so like others you don't have to buy and sell here and where.
8. Exchange Solana on Crypto.com.
Crypto.com is considered one of the best crypto staking platforms. And by using Crypto.com exchange you get Solana with a pair USDT and USDC.
9. Exchange Solana on FTX.
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, BTC pairs to exchange Solana you can also stake your SOL and receive 6% annualized staking rewards. For the USA uses it has FTX US that supports USD and USDT pairs.
10. Exchange Solana on Bitfinex.
Another simple and secure place to exchange Solana with USD and UST. It does not provide a buy and sell cryptos feature so you must have to deposit crypto before start trading Solana.
Here are some popular websites to buy or exchange Solana that did not qualify on the list.
11. Hotbit.
12. Bithumb.
13. CoinEx.
14. AAX.
15. Cex.io.
16. HitBTC.
Always use platforms that have high trading value to avoid fill-up delay but in case you want to hold Solana then try a platform with top security too.
By the way, what do you think about Solana and these platforms do you looking to buy Solana let me know.✌👊