Solana is an open-source blockchain platform that creates decentralized applications (DApps). It is, therefore, a smart contracts network. Anatoly Yakovenko, a former engineer at prominent companies like Qualcomm and Dropbox, established Solana in April 2019. The Solana platform’s native coin is Solana (SOL).
Solana is the most prominent ‘Ethereum killer’ network because its transaction speeds are as high as 65,000 per second. In addition, its hybrid consensus mechanism is also fast and energy-efficient. To this end, Solana has become the cheap and fast to-go-to blockchain for NFT minting and decentralized application development.
The Solana platform has a vibrant NFT marketplace on Solanart. Additionally, Solana is home to over 4000 Dapps, including Serum, Audius, Raydium, Open Ocean, and Defi Land.
Where can you buy Solana?
Coinbase
Coinbase supports over 140 crypto assets, including Solana. It accepts investors from 100+ countries, including Australia, Canada, Singapore, the UK, and the US exclusive of Hawaii. After signing up and verifying your account, buy USDT if you hold unsupported fiat or crypto assets and trade it for Solana.
Coinbase ensures top-notch security by storing most of the funds offline. Additionally, it is FCA regulated. The platform has a minimum deposit of $2, a 0.5% trading fee.
Coinbase has zero deposit and withdrawal charges. Its payment options include credit cards, SEPA transfers, and bank transfers.
Binance
To buy Solana in Binance, you will first need to register an account and send proof of identification. Afterward, you may purchase Solana via P2P trading, credit card, or bank transfer. Binance has low exchange fees and high liquidity, supporting quick transaction speeds.
Kraken
With Kraken, you may buy crypto for as little as $10. The platform has hundreds of pairs which include USDT/SOL. Kraken charges 0.9 percent as its processing fee for all stable coins and 1.5 percent for all other crypto pairs.
Etoro
To buy Solana on Etoro, you first need to visit the Etoro website and then create and verify your account. Then, fund your account via debit cards, bank transfers, or PayPal. Etoro is easy to use. You can easily compare crypto asset prices just like you would on video games price comparison websites such as gamecamp.gg.
On top of that, Etoro does not charge any trading fees or deposits but only spreads. The minimum deposit and withdrawal are $50 with a $5 withdrawal fee. Transactions are instant but may vary depending on the type of payment you choose. Payment options include debit/credit cards, PayPal, Neteller/Skrill, and bank transfers.
Uphold
Uphold is a US-based trading platform that offers easy-to-use and innovative features. Use its mobile or desktop app, and trade directly from your wallet even when the funds haven’t cleared in your account.
Uphold charges a spread on a per-trade basis, usually between 0.8 and 1.2 percent on BTC and ETH. In addition, the exchange offers instant transfers with affordable rates starting as low as 0.2%. Uphold won’t charge you for bank transfers (deposit and withdrawal), but you will have to pay a 3.9% fee when funding the account via debit/credit card.
You can deposit a minimum of $10 via bank transfers, debit/credit cards, and SEPA. In addition, the exchange has partnered with the Bug bounty program and has 2FA, platform insurance against theft, and cold storage for user fund security.
