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Several exchanges list Solana, so you can easily buy some with fiat or cryptocurrency. The most popular way to get Solana is through the decentralized exchange (DEX) protocol Serum, which allows for near-instant trading with low fees.
How to buy Solana crypto
If you want to buy Solana with fiat currency, the easiest way is to purchase bitcoin or Ethereum on a major exchange like Coinbase, and then trade that for Solana on a crypto-to-crypto exchange.
1.First, create an account on a major exchange like Coinbase. We recommend using Coinbase because it is one of the most popular exchanges and allows you to buy cryptocurrencies with fiat currency.
2.Once you have created your account, deposit money into your account via bank transfer or credit/debit card.
3.Now that you have deposited money into your Coinbase account, you can buy bitcoin or Ethereum. To do this, go to the “Buy/Sell” page and select the currency you want to purchase.
4.Once you have purchased bitcoin or Ethereum, you can now trade it for Solana on a crypto-to-crypto exchange. We recommend using the decentralized exchange (DEX) protocol Serum, which allows for near-instant trading with low fees.
5.To trade on Serum, you will first need to create an account. To do this, go to the Serum website and click on the “Sign Up” button.
6.Once you have created your account, deposit the bitcoin or Ethereum that you purchased on Coinbase into your Serum account.
7.Now that you have deposited cryptocurrency into your Serum account, you can trade it for Solana. To do this, go to the “Markets” page and select the currency pair you want to trade (e.g. BTC/SOL).
8.Once you have selected the currency pair you want to trade, enter the amount of Solana you want to buy in the “Buy” field and click on the “Buy” button.
9.Congratulations, you have now purchased Solana!
Fees associated with buying and selling Solana crypto
The fees associated with buying and selling Solana will vary depending on the exchange you use. For example, Coinbase typically charges a 1.49% fee for buying or selling bitcoin, while Serum only charges a 0.1% fee for trades.
When purchasing Solana on an exchange, you may also be charged a network fee by the blockchain. For example, the Solana network currently charges a 0.25% fee for all trades on the Serum DEX.
Storing your Solana coins
Once you have purchased Solana, you will need to store it in a wallet. We recommend using the official Solana Wallet, which can be downloaded from the Solana website.
The Solana Wallet is a non-custodial wallet, which means that you will be the only one with access to your private keys. This is important for security reasons, as it means that only you will be able to access and spend your Solana coins.
Once you have downloaded the Solana Wallet, create a new account and follow the instructions to generate a new address. Once you have generated a new address, you can now transfer your Solana coins from the exchange to your wallet.
To do this, go to the “Withdraw” page on the exchange and enter your Solana wallet address in the “Destination Address” field. Then, enter the amount of Solana you want to withdraw and click on the “Withdraw” button.
Your Solana coins should now be safely stored in your wallet!
Purchasing Solana crypto is a fairly simple process that can be done on a variety of exchanges. We recommend using Coinbase to buy bitcoin or Ethereum, and then trading it for Solana on the Serum DEX. Once you have purchased Solana, be sure to store it in a secure wallet like the official Solana Wallet.
