Buy Solana
At Financer.com, you can easily find where to buy Solana and the best cryptocurrency exchanges for buying Solana. You can also use our Solana Profit Calculator to calculate and track the performance of your investment.
Where To Buy Solana
There are hundreds of crypto exchanges and platforms where you can buy Solana. To save you the stress and time of finding the ones that work best for you, we have trimmed down the list based on a number of factors. Here are our top picks:
Coinbase | Binance US | Gemini | |
Cryptocurrencies available | 200+ | 100+ | 100+ |
Number verified users | 108 million | 120 million | 13.6 million |
Minimum trade | 2 USD | 10 USD | 0.00001 BTC |
Crypto fees | $0.99 to $2.99 flat fee depending on the size of the trade; percentage-based fee for trades above $200; 0.50% spread | 0.1% flat fee for most trading activities. | 0.5% – 3.49% |
Advantages | Fast and easy; Low trading fees; Top notch security; multiple trading pairs | Low fees; multiple trading pairs | Beginner friendly Regulatory complaint Solid security infrastructure |
Disadvantages | Relatively high transaction fees; Slow customer service | Regulatory issues; not available in all states | High fees Long verification process |
Who is it best for? | Beginner traders | For intermediate and advanced traders. | Beginner, intermediate, and advanced traders |
Learn more | Open an account | Open an account | Open an account |
Coinbase
Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform that is the largest crypto exchange in the US.
It was founded in 2012 by Brain Armstrong, an ex-AirBnB employee driven by a vision of a global, open financial system that drives innovation and freedom.
Who Is Coinbase Most Suitable For?
Coinbase is most suitable for those getting started with cryptocurrencies. Its clean and user-friendly interface is great for beginner traders.
Its clean interface and well-thought-out features make the platform easy to navigate for beginners.
Why We Chose Coinbase
Coinbase’s user-friendly platform and intuitive interface are great for new entrants in the crypto world.
What’s more, the platform offers a wide range of cryptocurrencies to choose from as well as advanced security features.
Coinbase Fees
Coinbase has a variable fee structure that depends on the size of the trade. Trades less than $200 attract a flat fee while trades above $200 are charged based on a percentage.
In addition to fixed charges, there’s also a spread-based fee of 0.50%.
Size of Trade | Fee |
$10 or lower | $0.99 |
$10 to $25 | $1.49 |
$25 to $50 | $1.99 |
$50 to $200 | $2.99 |
Above $200 | Percentage-based fee |
Pros
- Fast and easy
- Low trading fees
- Top-notch security
- Advanced trading options
- Two-factor authentication
- Over 100 cryptocurrencies are supported
Relatively high transaction fees
Slow customer service
Cons
Binance US
Binance is the largest crypto exchange in the world by trading volume. The crypto exchange was founded in 2017 by Changpeng Zhao and is registered in the Cayman Islands.
Binance operates Binance.com as well as Binance US – a trimmed-down version of the Binance site to comply with US regulations. Although Binance owns Binance.US, the U.S. company is managed independently.
Who is Binance Most Suitable For?
With legion features and a sophisticated platform, Binance is most suitable for intermediate and advanced traders.
Its competitive fees, advanced charts, and multiple order types make Binance a solid platform for experienced traders.
Why We Chose Binance US
Binance US has a wide array of trading pairs, competitive fees, and advanced trading features.
What’s more, it is the largest crypto trading platform in the world by trading volume and has a diverse ecosystem.
Binance Fees
Binance has an attractive fee structure. The platform offers a flat 0.1% for most trading activities.
Low fees: Binance’s 0.1% trading fees are lower than many other US exchanges.
Trading pairs: Although Binance US doesn’t offer as many trading pairs as the main site, it has over a hundred cryptocurrencies which outpace many other US exchanges.
Pros
Accessibility: The US site is not available in all 50 states.
Regulatory Issues: The main site has run into several issues with regulators in some countries.
Cons
Gemini
Gemini was founded in 2015 by the famous Winklevoss twins: Tyler and Cameron Winklevoss. The crypto exchange is based in New York and has a reputation for security and regulatory compliance.
The exchange is run by the Gemini Trust Company, LLC – a New York Trust Company.
In addition to a crypto exchange, Gemini also runs a wallet service, a custodial service (for institutional investors), and an advanced trading platform.
The exchange is also the issuer of Gemini Dollar (GUSD) – a dollar-collateralized stablecoin as well as a yield-earning service (Gemini Earn).
Who Is Gemini Most Suitable For?
Gemini has a user-friendly platform and an advanced trading interface that makes it suitable for beginner, intermediate, and pro traders.
Its solid security infrastructure also makes it an attractive option for institutional investors and asset managers looking to invest in crypto.
Why We Chose Gemini
Gemini has built a strong reputation for security and regulatory compliance that makes it one of the most secure exchanges in the crypto space.
The company goes above and beyond to be regulatory compliant and keep funds under its custody secure. A testament to this is the fact that the platform has never been hacked.
Gemini Fees
Gemini offers relatively higher fees compared to the competition. Gemini’s fee structure is based on user activity like transfers and withdrawals.
The exchange also charges convenience fees (for using the web or mobile app). There’s also a Gemini earn fee – which is a fee charged for the Gemini Earn service.
Here’s a summary of the different fees:
Activity/Service | Fee |
---|---|
Transfer (deposits and withdrawals) | Wire transfer deposits: FreeDeposit via debit card: 3.49%Withdrawal Fee: Variable (depends on the coin) |
Gemini Earn | Variable |
Transactions | Flat fee for trades up to $200 1.49% fee for trades over $200 |
Convenience | 0.50% spread in the price of the crypto asset you are trading |
Beginner friendly
Regulatory complaint
Solid security infrastructure
Advanced trading interface
Wide range of products
Pros
High fees
Long verification process
Only 100+ cryptocurrencies available
Cons
How To Buy Solana
Steps
Find a good Platform
There are multiple exchanges where you can buy Solana. To save you the stress of finding the best platforms, we have explored multiple platforms and trimmed down the list to three: Binance, Coinbase, and Gemini.Buy some Solana
Once you have signed up or signed into your account (whichever the case may be), head over to the buy crypto tab. The tab would look different for different exchanges but it will be described in a way that implies that you can use the button to buy crypto. Regardless of the crypto exchange you use, you will find multiple payment methods for buying Solana. Choose the option that’s most suitable for you.Store your coins securely
While crypto exchanges provide a wallet for storing your funds, it’s not a good idea to leave money on an exchange if you are not actively trading. Instead, store your funds in decentralized wallets like Trezor and Ledger Nano X.Should you buy Solana now?
Solana is currently down 90% from its all-time high price (as of August 2023). While it may not get back to that high, there’s a potential for an upswing in price.
Here are some reasons why Solana might be a good buy:
- Undervalued Potential: The crypto space is filled with contrasting viewpoints regarding Solana’s value. Some experts believe that Solana is undervalued at its current state, suggesting that its true potential has yet to be fully recognized.
On the flip side, there are skeptics who express concerns about Solana’s future. It’s crucial to approach these perspectives with a critical eye and consider both sides of the argument. - A Platform for Innovation: Solana is more than just a cryptocurrency; it’s a versatile platform that accommodates decentralized finance (DeFi) and non-fungible tokens (NFTs).
Is Solana a Good Investment?
Although Solana is currently down 90% from its 2021 high, it has potential for future growth. Here are some reasons why Solana might be a good investment:
- Transaction Processing Speed and Scalability: Solana’s architecture addresses a pressing issue in the cryptocurrency world: transaction processing speed. High-speed processing is essential for mainstream adoption and seamless integration into everyday transactions.
While many cryptocurrencies face scalability limitations, Solana can process up to 65,000 transactions per second, mitigating challenges faced by its peers. - Low Transaction Fees: Another compelling aspect favoring Solana’s future success is its low transaction costs. High fees have hindered many cryptocurrencies, particularly during periods of heightened activity.
Solana stands out due to its unique consensus mechanism, resulting in average transaction fees as low as $0.00025. This affordability makes Solana suitable for microtransactions and everyday transfers. - Support for DeFi Applications: Solana’s robust infrastructure and efficient processing capabilities have garnered attention in the realm of decentralized finance (DeFi) applications.
While Solana might have good prospects, there are potential risks associated with the investment:
- Centralization Concerns: Some critics raise alarms about potential centralization tendencies within the Solana network.
- Validator Investment Requirements: Becoming a validator on Solana might necessitate a significant investment, which could influence reward distribution and contribute to centralization apprehensions.
- Network Stability: Previous network crashes stemming from application overload have underscored potential stability challenges.
What Is the Future of Solana?
Solana is poised for significant developments in the near future, which could shape its growth in various ways:
- Expanding NFT Trading Market Share: Solana’s increasing popularity within the NFT space positions it to potentially capture a larger share of the NFT trading market.
- Solana Gaming Funds: The convergence of Solana and gaming presents an exciting area to watch. This synergy has the potential to drive innovations in blockchain-based gaming and virtual economies.
- Solana Pay: The Solana Pay initiative, combined with the Solana Mobile project, holds the promise of advancing end-to-end mobile experiences in the emerging Web3 landscape.
Solana (SOL) Price Predictions
Predicting the future of any cryptocurrency, including Solana (SOL), is a challenging endeavor given the market’s inherent volatility.
However, gaining insights into Solana’s ongoing developments can provide valuable perspectives on its potential trajectory. Here are two predictions on Solana’s possible future course:
Changelly Forecasts
Year | Min Price | Max Price |
---|---|---|
2023 | $31.95 | $36.34 |
2024 | $47.17 | $54.85 |
2025 | $68.02 | $82.01 |
AMBCrypto Predictions
Year | Min Price | Max Price |
---|---|---|
2023 | $22.93 | $34.39 |
2024 | $29.10 | $43.65 |
2025 | $38.41 | $57.61 |
Where To Store Solana After I Buy It?
Much like safeguarding traditional money in a bank account, the process of preserving your crypto assets involves using a digital wallet. A digital wallet is the crypto equivalent of a bank account.
Digital wallets are broadly categorized into two types:
- Software Wallets: These are applications designed to securely store your crypto holdings. Just like a bank account, they provide you with a unique identifier (the wallet address) for sending and receiving cryptocurrency.
Additionally, they furnish you with a password, often referred to as a private key, that serves as your authentication for conducting transactions. Notable examples of software wallets compatible with Solana include MetaMask and TrustWallet.
- Hardware Wallets: Similar to software wallets but with an added layer of security, hardware wallets exist in a physical form. They offer the same functionality of securely storing your crypto assets but with an extra layer of security. Popular hardware wallets include Trezor and Ledger X.
While cryptocurrency exchanges provide wallets for storing your digital coins, it’s advised not to leave substantial amounts on an exchange, if you’re not actively trading.
For the secure storage of your Solana tokens, hardware wallets like those mentioned above are highly recommended. These devices provide an additional layer of protection, safeguarding your investments from potential risks associated with online exchanges.