Where to Buy Solana: Top 4 Exchanges in 2022

ByI. Mitic
May 17, 2022

One of the cryptos that have attracted major attention in 2021 is Solana. Its value continues to grow, which is why many are interested in investing in it. If you are one of them but you are not sure where to buy Solana, you’ve come to the right place! In this article, we will discuss some of the best exchanges that trade this currency:

OVERVIEW

eToro is one of the world's leading social trading platforms designed for those interested in trading stocks and cryptocurrencies or CFD trading. It allows you to invest in stocks with a 0% commission, buy, sell and store Bitcoin and other leading cryptos, and more. The company was founded in 2007 with the idea of making trading accessible to anyone, anywhere.

Purchase Solana
On Official Website
OVERVIEW

Next, we have Coinbase, the world's largest crypto exchange. Coinbase has been in business since 2012, and up to this moment, the company has had 73 million verified users, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries worldwide. From the very beginning, Coinbase's mission was to create an open financial system for people worldwide. And they have been very successful so far.

Purchase Solana
On Official Website
OVERVIEW

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.

Purchase Solana
On Official Website
OVERVIEW

As we search for the best way to buy Solana, we can’t forget Binance, another great option for cryptocurrency trading. The exchange launched in 2017 and has since become one of the largest and most popular platforms in the world. It has an average daily volume of 2.0 bn and allows 1,400,000+ per second.

Purchase Solana
On Official Website

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.

That said, banks are never far from money-making trends, and many have integrated cryptocurrencies into their key services, allowing customers to easily manage their digital coins. Several experts believe that cryptocurrencies are the future of money, and there are a number of different currencies that you can invest in.

Best Crypto Exchanges To Buy Solana in 2022

Finding the best place to buy Solana isn’t an easy task. There are numerous crypto exchanges available, and choosing the best one can be a bit overwhelming. That is why we have decided to help you out and make a list of the best options for purchasing SOL tokens:

1. eToro

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. Yet, not all states are supported, and their residents can not buy or sell crypto through this platform.

They can, however, try eToro’s free demo account and practice their skills with $100,000 in virtual funds, completely risk-free. eToro supports a great range of payment methods. You can purchase crypto using a credit or debit card, PayPal, Neteller, Skrill, Bank Transfer, etc. The processing times are instant for all the methods except bank transfers, which take four to seven days to process. When it comes to security, eToro takes things very seriously.

It is covered by the Financial Services Compensation Scheme (FSCS), and all of its operations are regulated by the CySEC, the FCA, and ASIC. If you're a beginner interested in Solana coin and where to buy it, eToro might be an excellent choice. It is a great option because it offers users the ability to buy and sell SOL tokens with ease. You can also use the platform to follow experienced traders and learn from their strategies, making eToro a great solution for those who want to get started with cryptocurrencies but don’t know where to start.

2. Coinbase

If you’re still wondering where to buy Solana coin, wonder no more: Coinbase allows traders to buy and exchange Solana and hundreds of other cryptocurrencies with ease. And one of those cryptos is Solana. This trading platform supports a wide range of payment methods, including bank transfers, debit cards, instant cashouts to bank accounts, wire transfers, PayPal, Apple Pay, and Google Pay.

Coinbase is a highly secure and regulated cryptocurrency exchange. It follows all of the necessary rules set by the authorities, making it one of the most secure platforms on the market. It complies with a number of financial services and consumer protection laws, such as The Bank Secrecy Act and The USA Patriot Act. It also secures customer funds with the FDIC pass-through insurance up to $250,000. As an additional security measure, the exchange uses two-factor authentication and keeps 98% of customers' funds in cold storage.

To start buying and selling Solana on Coinbase, you would first need to create an account and pass the verification process. Once you're logged in, navigate to the 'Buy/Sell' tab and select your payment method. Once you finish those steps, just enter the amount of SOL you want to buy and hit the 'Buy' button. The coins will be credited to your account as soon as the transaction is confirmed by the network.

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.

3. Kraken

Kraken was one of the first platforms to adopt Bitcoin, and this currency still is its major asset. Aside from Bitcoin, Kraken supports over 60 other digital coins, including Solana, Ethereum, Cardano, and Litecoin. 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.

Users can instantly buy, sell or convert crypto via Kraken's website or through the Kraken app. Although there is no such thing as an accurate Solana price prediction, Kraken gives you an insight into how its price changed in the past few weeks, and it might help you make a better forecast.

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.

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.

The exchange uses several security features such as two-factor authentication and PGP email encryption. It stores 95% of user deposits in cold storage to prevent them from getting hacked. The platform also has excellent customer support that is available 24 hours a day, 365 days a year. So, if you're looking to buy Solana, we suggest doing it through Kraken as they will ensure the best possible trading experience.

4. Binance

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.

And more recently, the company has also released its own Binance Card. This new feature allows users to spend their crypto at more than 60 merchants worldwide. All they have to do is transfer crypto from their spot wallets to their funding wallets.

If you want to know how to buy Solana tokens with Binance, here's how it goes. Just create an account on the exchange, verify it, and deposit some funds into your account. After that, you can start trading by selecting the desired pair and placing a buy order. That’s really all there is to it. And if you wish to withdraw your SOL and store them safely in a wallet, you can do that at any time by navigating to the Withdraw window and selecting where you want to send the coins.

As with previously mentioned exchanges, Binance is also a very secure platform. It uses several security features to keep traders' funds safe from hackers. For instance, the exchange enables two-factor authentication for all of its users and stores the vast majority of user funds and assets in cold storage facilities. It uses end-to-end encryption to ensure that users are the only ones who have access to their personal information, making Binance one of the best places to buy Solana. On top of that, it complies with all legal requirements and follows multiple financial regulations.

So, if you're looking to become a proud owner of SOL tokens, Binance is definitely one of the best options out there. It has an enormous user base, advanced features, and supports a wide range of other coins if you get bored of Solana.

What is Solana?

Solana is an open-source, proof-of-stake cryptocurrency ecosystem that supports smart contracts and decentralized applications, and SOL 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.

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.

Solana has several different features that make it stand out from other coins. One such feature is its multi-chain architecture, which allows for multiple blockchains to be run in parallel without any issues or conflicts between them.

Another great thing about Solana is how fast the network can process transactions, making it ideal for decentralized applications that require a lot of data processing. 

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. 

Bottom Line

We hope our guide has helped you decide where to buy Solana crypto without having to worry about any security issues. All of the cryptocurrency exchanges from our list are reputable and offer high-quality services. They all support a variety of coins and offer different features to accommodate the needs of every trader. 

Just keep in mind that before buying any crypto, you should always do your research and never invest more than you are willing to lose.  And don't forget to store your coins in a safe crypto wallet after buying them!

FAQ

Which is the fastest-growing cryptocurrency?

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According to the Electric Capital Developer Report published in early January 2022, Ethereum, Polkadot, Cosmos, Solana, and Bitcoin were the five largest developer ecosystems in 2021. Solana’s coin market cap grew by 400 percent in the summer of 2021, making Solana one of the major cryptos in the world in terms of market capitalization.

What is the max supply of Solana?

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Unlike Bitcoin, Solana has an unlimited supply, and by December 2021, there were more than 305 million active Solana units. Its blockchain works a bit differently than the other popular blockchains. At the beginning of each year, it issues a set amount of new chains into circulation, and that amount is calculated based on the year-to-year inflation rate. When it comes to the price of Solana coin, at the time of writing, it was trading at around $85 on CoinCodex.

Which crypto has the most developers?

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Ethereum is the ecosystem that has the largest number of active developers, far more than any other crypto. Based on some analyses, there are over 18,000 monthly active developers working on crypto, and more than 4,000 of them are working on Ethereum. Just for comparison, Polkadot has around 1,500 active developers, and Solana and Cosmos have around 1,000 each.

Can you buy Solana on Coinbase?

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Yes. Those wondering where to buy Solana don't have to worry as they can do it on Coinbase. It can be done through the Coinbase app in just a few quick steps. All you have to do is create an account, verify it, and add a payment method. Once you have added your payment method, you can buy crypto with just a few clicks. 

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.

About author

For years, the clients I worked for were banks. That gave me an insider’s view of how banks and other institutions create financial products and services. Then I entered the world of journalism. Fortunly is the result of our fantastic team’s hard work. I use the knowledge I acquired as a bank copywriter to create valuable content that will help you make the best possible financial decisions.

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