Simplecryptoguide.com

Simplecryptoguide.com

How To Buy Solana (SOL) 

Global:

Binance

United States:

FTX.US

Start by creating your account by clicking one of the buttons above.
Sign up with your email address or mobile phone number, and choose a strong password.
Before you get started and buy anything, you first need to verify your identity.
Then simply scroll down on this page to the exchange you have chosen and follow the steps.

 

Binance

  • Step 1: Select ‘Buy Crypto’ from your dashboard
    Once your account is verified there are two main ways to buy.
    By linking your debit/credit card or by linking your bank account.

  • Step 2: Start buying Solana (SOL)
    You are now led to a new page where you can proceed with your Solana (SOL) purchase.
    Select your preferred local currency and enter the amount you want to spend.
    Note that not all local currencies can be converted directly into Solana (SOL) – If this option is not available for you, simply follow the two remaining optional steps to complete your purchase.

  • Step 3: (optional) Start by buying Binance Coin (BNB)
    Select your preferred local currency and enter the amount you want to spend.
    We will then be converting that directly into Solana (SOL).
  • Step 4: (optional) Convert Binance Coin (BNB) into Solana (SOL)
    Return to your dashboard, then under the ‘Trade’ tab you will select ‘Convert’.
    From there you can directly convert your Binance Coin (BNB) into Solana (SOL) based on the current market price.

FTX.US

  • Step 1: Select ‘Wallet’ from your dashboard
    Once your account is verified there are two main ways to buy.
    By linking your debit/credit card or by linking your bank account.

  • Step 2: Select ‘Deposit’ on your ‘USD and Stablecoins’ balance tab
    Select your preferred local currency and enter the amount you want to spend.
  • Step 3: Convert USD into Solana (SOL)
    Once your deposit is finalized, simply click ‘Convert’ to convert USD directly into Solana (SOL) based on the current market price.

For more in-depth instructions, our ‘Get Started‘ guide will take you through the process step-by step.
In addition to providing instructions for sending and receiving your cryptocurrency. And our ‘Articles‘ will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Solana (SOL)?

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability.

Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well.

The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing.

Official website: https://solana.com/

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