Cryptocurrencies had a wild ride in 2021 with almost all of them surging to new highs. It's something that most investors will welcome all day again in 2022. One of the top performers was Solana (SOL) with over 17,500% growth. As a result, the digital coin has gained prominence among most investors; old and new alike. Is Solana a good investment in 2022?
In fact, Solana has been dubbed an 'Ethereum killer' thanks to its underlying blockchain technology that has indeed provided the edge to its price. Therefore, it looks like going forward, those investing in Solana will generate a good ROI. And who knows 2022 might be that year that it outperforms Ethereum after all.
But, as an investor looking to invest in Solana, where do you start? Where can you buy Solana coins? Fortunately, you're in the right place to understand everything about Solana. In this article, we'll review the top sites where you can buy Solana coin, its price prediction, and cover all the reasons you should start buying Solana today.
Your success in buying and selling Solana will significantly depend on the crypto exchange you choose. Given that there are a plethora of crypto exchanges, choosing the best one can be overwhelming. At the same time, if you do your selection right, you'll enjoy your trading journey.
Here's a list of the top 5 platforms that you'll find it easy and profitable to buy SOL;
eToro – best crypto exchange to buy Solana
Webull – top exchange with low costs
Coinbase – an easy and intuitive platform
Binance – best eToro alternative
Uphold – top-notch Solana crypto exchange
>>>Buy Solana Now<<<
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk
Several crypto exchanges exist today. The difference is the quality of service each offers; transaction costs, ease-of-registration, safety, payment options, and many others. Here's a detailed review of the top exchanges to consider in you want to invest in Solana or trade Solana:
The best way to buy SOL is via a trading platform or broker, and it doesn't get any better than beginning your investment journey on eToro. The platform is arguably the fastest, safest, and easiest option to buy Solana.
Moreover, apart from trading cryptocurrencies, eToro offers investors a platform to trade commodities, stocks, and CFDs. Interestingly, it's free to open an account with eToro and the platform won't keep you waiting. In fact, every new user gets free $100,000 in the demo account.
The broker is regulated by the CySEC, the FCA, ASIC, and is a partner with the FSCS, meaning it's secure and safe to invest your funds with eToro.
The platform provides a user-friendly interface that enables traders to easily interact with each other. There are no trading fees or deposits but only spreads. The minimum withdrawal is $50 with a $5 withdrawal fee. Transactions only take a few minutes, but they might vary depending on the type of payment you choose.
The initial deposit on the platform is just $50, which means traders can own a section of a share if needed, and also can buy more shares worth more than the deposited amount. Traders can also enjoy the copy trading feature; an essential feature for newbies.
Also, traders have a variety of options to make deposits. The various payment options include debit/credit cards, PayPal, Neteller/Skrill, bank transfers, and many more. You also have the option to buy CFDs along with the shares.
Buy Solana on eToro.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Coinbase is another excellent crypto exchange where you can buy Solana. It's the most liquid crypto exchange across the globe with the largest volumes across several crypto pairs.
The platform offers several other cryptos, such as Bitcoin, Ethereum, Litecoin, and several others. Moreover, it features a customizable user interface that makes it easy for investors to trade.
Also, its market news feed is something that most traders take advantage of to make profits. The broker is also regulated by the FCA, meaning trader funds are safe.
The platform has a trading fee of 0.5% with zero deposit and withdrawal charges. The minimum deposit is just $2, and the exchange doesn't have leveraged trading.
It offers several payment options, such as credit cards, SEPA transfers, bank transfers, and many others. Also, the fact that it has a mobile app and wallet makes the platform one of the best options to consider. The platform is intuitive and easy as you'll only need a few steps to buy an SOL coin instantly.
Buy Solana on Coinbase.
Your capital is at risk.
Are you looking for a crypto exchange with arguably the lowest trading fees? Webull might be your perfect landing place.
It's one of the best platforms for mobile-first generation investors thanks to its slick interface for mobile apps and desktops. The active traders will find this broker one of the best as it delivers impressive tools.
Webull shines as a result of low fees as it offers free stock trades as well as zero-commission trades. Moreover, there are few brokers that offer direct access to cryptos, but this platform offers direct access to over 10 cryptos for trading; Solana being one of them.
Another excellent takeaway is the fact that the account minimum is $0 with no annual or inactivity fees. Investors can also trade other markets, such as stocks, options, ADRs, and ETFs.
Buy Solana on Webull.
Binance is arguably the largest crypto exchange in terms of daily transaction volume; boosting more than $20 billion per day. Besides, it gives traders access to various assets and excellent trading services, whereby investors can easily make money.
The trading commission on the platform starts at about 0.075%, making it one of the lowest options available. Interestingly, the fee will keep getting lower and lower as the investor level gets higher. There are several deposits as well as withdrawal options available, meaning you don't have to worry wherever you might be.
For expert traders, they'll enjoy the sophisticated tools that include futures and margin trading to make their trading experience better. It's a factor when you combine it with the exchange's high liquidity; it's a no-brainer to understand why it's one of the best.
It's until April 2020 that the exchange-listed Solana on its platform and started trading for SOL/BNB, SOL/BUSD, and SOL/BTC pairs.
The platform's charts and menu options might not be the best for beginner Solana buyers, but once they are mastered, they're the best means to make money. It features sophisticated security that makes it one of the safest brokers.
Buy Solana on Binance.
If you're looking for cross-asset trading, then you don't have to look further beyond Uphold exchange. It allows users to go directly from an asset to another with its automated trading feature.
Moreover, it allows limited orders when trading, meaning you can buy and sell at a specific target price. The exchange supports a variety of assets, including precious metals, stocks, national currencies, and several others.
The exchange offers instant transfers with affordable rates that start from as low as 0.2%. The exchanges' spread is merely about 0.8%. However, Uphold doesn't have any charges for bank transfers (deposit and withdrawal), but when funding the account via debit/credit card, you'll pay a 3.9% fee.
There are several methods available for depositing and withdrawing funds, such as bank transfers, debit/credit cards, SEPA, and many others. The minimum deposit is only $10. Bug bounty program, 2FA, platform insurance against theft as well as cold storage are some of the features that make the platform secure.
Technically, Solana is a proof of stake; a third-generation blockchain that looks to achieve fast transaction processing times via its proof of history mechanism. Therefore, by combining the proof of stake and proof of history, the network is capable of processing over 50,000 transactions per second.
It's giving Ethereum sleepless nights for the bragging rights of the globe's largest decentralized apps platform. Besides, it's an open-source blockchain with its native currency being "Solana" with a symbol of SOL.
Solana was launched in April 2020 but has gained popularity over a short period with its price climbing from merely $0.75 to a current of about $170. Solana is not only fast, but also its congestion, as well as, fees are low. Its founders believe that low fees and high speed will enable Solana to scale up.
Solana is the world's fifth-biggest crypto with a market value of over $58 billion. Given that crypto has been on an upward trend in the past year, it means there's something right with this crypto that any investor should be optimistic about in 2022.
So, why would you want to buy Solana? Here are some of the reasons:
The trustless, as well as distributed nature of this digital coin, makes it one of the best for day-to-day trading. Users can transact within seconds for a low cost as compared to the cryptos. Moreover, given the fact that there's no centralized control, there's no one to block, stop, or even confiscate user transactions.
Delegated Staking
Solana is a delegated staking blockchain, meaning anyone can easily secure passive income via staking SOL on the network. Unlike trading, staking protocols are gaining popularity because they offer more stable rewards and are easy to learn.
With the crypto market, a broad acceptance of crypto by several crypto funds or exchanges increases investor interest in that specific crypto, and that's the case with Solana. Last year Solana was listed on Coinbase (a major crypto exchange) and later Osprey Funds announced a plan of launching a Solana Fund. Early, Grayscale announced exploring the option to add a Solana trust in short order.
Therefore, all such wider acceptance of Solana proves that the crypto is not going anywhere any time soon, but it is here to stay and it should give investors a reason to buy.
Currently, Solana is trading at about $168 with a 24-hour trading volume of about $1.2 billion. However, the price has dropped by 1.75% over 24 hours. The current Market Cap ranking of Solana is fifth with a market value of about $52 billion. Solana's circulating supply stands at about 309 million SOL.
Solana was a top performer in 2021 surging to an all-time high of about $260. Although the crypto is trading at around $170, the price prediction for the year 2022 is bullish. In fact, it's predicted that with the current broader acceptance, Solana will surpass its all-time high of last year of $260. However, if the crypto fails to get enough investor support, it might drop to even $70.
View more Solana price predictions.
There are several payment methods that you can choose to buy Solana. Here are some of the best ways you can buy Solana coin;
Having a digital method of buying crypto is one of the most convenient options that you can think about, and PayPal makes the purchase of Solana seamless. All you need to do is to link your PayPal account with the best exchange of your choice. The platform should provide options that you will be able to use the payment methods connected to your PayPal. With such in mind, you'll not be asked to enter payment information.
You can also use your debit/credit card to buy Solana. It's arguably one of the easiest methods you can use. Once you open your broker account, you need to select the "buy" option and choose the currency to pay with and choose SOL as the crypto to purchase.
Now select 'buy with card' as your preferred payment option and choose the 'Mastercard or Visa' option and enter the details.
Then confirm the purchase and your SOL will be available.
Not until recently did investors start buying Solana via Skrill and Neteller. Users can buy SOL tokens directly using fiat on either Neteller or Skrill. You just log into your eToro account and select the 'buy' option and choose SOL as the crypto to buy. Then select Skrill or Neteller as your payment option and enter the amount you want to spend to buy Solana tokens.
Where and how to buy Solana should not be a question any longer; here's a step-by-step guide to starting buying Solana with eToro:
On the eToro website, click on the registration button (Join Now) to sign up for a new account.
You'll be required to enter personal details; full name, email, and a secure password. To complete registration, you'll have to verify the provided email via an email address sent by eToro. Besides, you can opt to sign up with your Google or Facebook accounts.
You'll be required to upload a copy of your ID to validate your identity. eToro accepts a variety of identification documents, such as a driver's license, passport, or national ID. You can also use a utility bill to verify your residency.
eToro accepts a minimum amount of $50 that you can deposit via a variety of options. On the payments section, you select your preferred option, such as a debit card, PayPal, or bank transfer, and then enter the amount you want to use and confirm the transaction.
Now it's time to make your purchase. There are several cryptocurrencies available on eToro. Therefore, you just type 'SOL' in the search bar and filter the list and choose SOL from the drop-down. Next, enter the amount you want to buy SOL and then choose 'buy Solana."
In 2022, there's optimism for Solana to become one of the best cryptocurrencies. Even though it has been in the market for a few years, the crypto is making giant progress and investors are confident. Therefore, it's one for the future, and we recommend the best place to make your investment in Solana is on the eToro platform thanks to its wide range of deposit options, copy trading functionality, and user-friendly interface.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Solana is a project that looks to combine scalability with near-zero fees and fast speeds. It's the favorite for creators of decentralized applications. The network uses a proof of history model as well as a proof of stake consensus, hence its impressive achievements.
To buy Solana is a breeze; you only need to open an account with a crypto exchange that supports Solana (eToro). Once the account is verified, you need to fund the account, with eToro you need a minimum of $50 to get started; and there are several payment options to choose from. Then you can proceed to buy Solana easily.
The price of Solana surged to an all-time high of about $260 last year but has since dropped to a current $169. However, with broader acceptance on the cards, it won't be long before the price starts to rise again, and hence, Solana should be good crypto to buy.
Binance is one of the largest crypto exchanges and recently it listed Solana as one of the cryptos tradings on the platform.
There are several exchanges that have Solana available for trading, such as eToro, Binance, Coinbase, Uphold, and Webull.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.