Yet Solana catches our attention as one of our best cryptos to invest in long-term—and for three good reasons. BanklessTimes.com is dedicated to helping customers learn more about trading, investing and the future of finance. We accept commission from some of the providers on our site, and this may affect where they are positioned on our lists.

Finally, input the amount of fiat (or crypto) to deposit and confirm the transaction. Depending on the deposit method selected, the funds should be transferred to the Binance account anywhere between 10 seconds to a few days after the order is processed. SOL is the native token of Solana’s burgeoning ecosystem and has a myriad of utilities – paying transaction fees, participating in-network dApps, staking, governance and as a medium of exchange. For more information, read our full guide on Solana which explains the blockchain’s underlying technology and how it works. Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website.

Other Ways of Buying Solana

In the case of buying Solana, the repeat feature will enable the user to schedule regular purchases occurring daily, weekly or monthly. However, it is worth noting that the bank account method is instant, while the wire transfer takes a few (business) days to settle. If purchased on a decentralized exchange, the buyer acts as custodian of their private keys and needs to keep them secure. Private keys can be stored in either a cold wallet that is not connected to the internet or a hot wallet that is connected to the internet. To buy SOL on a DEX such as Jupiter or Raydium, you will first need a wallet compatible with the Solana network.

Services

Always review the transaction details before executing the transaction. In comparison centralized crypto exchanges are operated by a company that acts as an intermediary between buyers and sellers. They manage the order book, match buy and sell orders and facilitate trading. Due to regulatory restrictions, not every cryptocurrency exchange operates in every country.

Step 2 – Activate the Repeat feature.

Like any blockchain, network congestion or outages can temporarily disrupt services. Centralization concerns and potential governance issues also pose risks. Always research thoroughly and consider your own risk tolerance before participating in any blockchain ecosystem. PayPal is committed to providing cryptocurrency options in a familiar, trusted environment.

Why invest in Solana (SOL)?

If you want to bypass the KYC process, you can buy Solana anonymously through a decentralized exchange. This option is best suited to more experienced traders who understand the intricacies of trading crypto on decentralized networks. In 2025, Solana saw an uptick in activity as several meme coins were deployed on its network, including multi-billion dollar assets like Dogwifhat (WIF), Bonk (BONK), and PopCat (POPCAT). When demand for Solana-based tokens is high, so is demand for SOL. For Binance users, select ‘Cash Balance’ from the dropdown and then the ‘Buy Crypto’ menu.

So, you must provide a means of identification like a passport, state ID, or driver’s license. At nearly zero fees, Solana is one of the fastest, most cost-efficient networks available. Users looking for near-instant transactions without the headache of high gas fees can find solace with this network. Discover Solana (SOL), a high-speed blockchain enhancing DeFi, NFTs, and Web3 with ultra-low fees, scalability, and rapid transactions. Whichever digital asset exchange you opt to use, protect your funds by performing exhaustive background research before buying Solana. Solana tokens will be deposited into your portfolio wallet once the transaction is settled.

• Prioritizing a specific feature – such as the lowest fees, best trust rating, best mobile application – will make this process much less stressful.
• However, it means you’re putting trust in the exchange’s security at all times.
• All you need is to provide your credit card details, as shown below.
• So, stick with your home network or a secure connection you trust.
• Before we go any further, feel free to check out our picks for the best crypto exchanges and the best decentralized exchanges.
• Take note of the minimum purchase value and input the amount to spend on SOL.

Step 3: Fund your account

Solana also leverages high-performance networking and optimized systems engineering in a way that most blockchain platforms do not. If you want to buy Solana today, the first step is to sign up to a cryptocurrency exchange and connect a payment method to your account. It is also a good idea to read the latest crypto news to make sure that buying SOL is a solid decision. If it’s in an external crypto wallet (a hot or cold one), simply send it to the provided SOL wallet address on the crypto exchange.

• Although Solana’s ecosystem is rapidly growing, it is still much smaller than Ethereum’s and, at the time of writing, has significantly fewer applications hosted on the network.
• Turning to fees, each trade carries a standard fee of 0.1% for regular users but you can pay for trading fees with Binance’s native coin BNB to enjoy a 25% discount.
• The repeat feature enables Uphold users to set up automatic recurring trades for buying, selling, or converting between different assets.
• Select the server of your choice, allowing for more flexibility and better rewards management.
• Once purchased, the amount of Solana that will be received will usually be shown at the time of the transaction.
• This is a breath of fresh air to investors concerned with sustainability and are eco-conscious.

Follow the steps below to set up a limit order to purchase SOL coins on Uphold. However, using the middle form field that represents the fiat value of your transaction is much simpler and less prone to error. This way, Uphold will convert and autofill the boston harbor hotel review massachusetts other two fields according to the exchange rate at that time.

You can choose from hardware wallets, desktop wallets, and mobile wallets, based on your preferences and needs. Alongside Solana, users have access to a diverse range of cryptocurrencies, including Bitcoin, Ethereum, Ripple and Cardano. EToro, a traditional financial investment firm, expanded buy crypto voucher online 2021 into the crypto market back in 2014, a full six years before the emergence of Solana. At the close of 2014, Bitcoin, the flagship cryptocurrency, was valued at a modest $320.19. Staked tokens are an essential component in keeping blockchains decentralized and a perfect, low-risk way to increase the value of SOL you’re not actively using.

How to buy SOL on a decentralized exchange

Buying Solana in 2025 can be a smooth experience if you take the right steps. Whether you choose a centralized or decentralized exchange, endeavor to follow our expert steps correctly. Beginners typically opt for SOL/USD because this allows you to buy SOL directly with your debit card or bank account. However, if you already own Bitcoin, you could select SOL/BTC and buy Solana with your coins. First, select a trusted crypto exchange where Solana (SOL) is available. Options include platforms like Coinbase or Binance, each with different features and fees.

From the pop-up display list, scroll down to locate the bank and credit card sections. The following steps will require you to provide further identifying information such as your location, phone number, and employment details. For a detailed walkthrough of the signup process, check out this guide. Similar to how Ethereum uses Ether (ETH) as its native platform token, Solana also has SOL tokens which play a key role in maintaining and operating the Solana ecosystem. It is recommended to store Solana in a self-custodial wallet rather than keeping it on an exchange.

Step 3 – Select Solana as a receiving asset.

A network fee in beginner’s guide to buying and selling cryptocurrency the Solana ecosystem is the amount of SOL that an individual will pay to compensate node operators to process and validate their transactions. Solana’s efficiency reduces transaction costs, making it a preferred blockchain for meme coins and NFT transactions. Solana is a smart contract-compatible blockchain platform that distinguishes itself from competitors with its hybrid consensus mechanism, a combination of proof-of-history and proof-of-stake. Now that you have an idea of the various crypto exchanges, you can create an account with an exchange that suits your needs.