+16.34% growth: How to Buy Solana (SOL) — A Step by Step Guide

https://cryptobuyingtips.com/guides/how-to-buy-solana-sol

What is SOL?

Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. Core to Solana’s scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps accross the network, improving overall network efficiency.

Step 1: Register on Coinbase

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SOL

Step 2: Buy coins with fiat money

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SOL

Step 3: Transfer your cryptos to an Altcoin Exchange

Select altcoin exchanges:

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SOL
SOL
SOL

Step 4: Deposit BTC to exchange

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SOL
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Step 5: Trade SOL

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SOL
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Step 4: Deposit BTC to exchange

Good news: since we are trading crypto-to-crypto pairs, there is no need to go through account verification. Just head to the deposit section at the dashboard.

Step 5: Trade SOL

Go back to HotBit, then go to Exchange>Basic. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let’s get our heads around this.

Last Step: Store SOL securely in hardware wallets

Trezor One White
Trezor One White

Trezor One White

  • Thousands of tokens/cryptos supported
  • Rich documentation online available
  • Affordable
  • Open-sourced firmware
Ledger Nano S
Ledger Nano S

Ledger Nano S

  • Easy to set up and friendly interface
  • Can be used with smartphone and tablet
  • Lightweight and Portable with built-in rechargeable battery
  • Support most blockchains and wide range of (ERC-20) tokens
  • Multiple languages available
  • Built by a well-established company found in 2014 with great chip security
  • Affordable price

Frequently Asked Questions

Can I buy SOL with cash?

There is no direct way to buy SOL with cash. However, you can use marketplaces such as LocalBitcoins to first purchase Bitcoin, and finish the rest of the steps by transferring your bitcoin to respective AltCoin exchanges.

Are there any quick ways to buy SOL in Europe?

Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Coinmama.

Are there any alternative platforms to buy SOL or Bitcoin with credit cards?

Yes. Changelly is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.

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