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Where and How to Buy Solana in 2022?

May 12, 2022

How to Buy Solana?

Solana (SOL), as we will see later, works on a highly scalable blockchain.

Scalability is one of the main issues faced by many cryptocurrencies, for which many solutions have been studied and found over time – and the crypto space is constantly under development to continuously find even more convenient solutions for users.

Since Solana focused on scalability from its very beginnings, it can be useful for crypto traders and investors interested in this crypto to know how to buy Solana coin – and where to buy Solana coin.

Freewallet allows you to buy Solana directly on the platform.

Once you register your account a personal dashboard will be available:

In the Wallets section, you’ll find all the coin and token wallets supported by Freewallet.
If you don’t find Solana, you can easily add it by clicking on “Add wallet” and selecting Solana (SOL).
This procedure makes it easier for you to find and manage your SOL wallet.

If you select the wallet, you’ll find out that it’s possible to buy SOL thanks to Freewallet’s partners. Click on “Buy with a card”: you can now choose the currency you want to use and the amount before finalizing the transaction.

You’ll find the amount you bought in your SOL wallet: from there, you’ll be able to make different types of transactions – as we’ll see later.

How to Buy Solana in the US?

Solana is a crypto asset available also in the US.

It’s worth noting that in the United States crypto regulations are still under development: the Biden administration is focusing on preventing frauds and creating a more strict regulatory environment – especially for stablecoins.

Most recent news shows that SEC – Securities and Exchange Commission – is even increasing its staff to reach its goals related to the crypto space.

So, it’s fundamental for US citizens to take these points into account before investing and to know where to buy Solana in the US. Only regulated platforms, available also in the United States, should be the only places where to buy Solana crypto – if you’re interested in the characteristics of this cryptocurrency.

Exchange Solana for Bitcoin and any cryptocurrency

As we mentioned, buying is not the only type of transaction you can make. In any case, all different operations have something in common:

The procedure is always very intuitive,
You can control your funds on a single platform.

Freewallet is not only the platform you can choose if you want to know where to buy Solana, but also a hub that allows you to fully manage different cryptocurrencies.

A type of transaction you can make to get different cryptos and diversify your portfolio is the exchange – also in this case, the procedure will be fast and intuitive.

How to Make a Solana Exchange?

To make an exchange, just locate the button “Exchange coins” on your personal dashboard.

To make this transaction, of course, you’ll need some crypto funds.

If you want to transfer Solana or any other supported crypto from an external address, just select the appropriate wallet and click on “Receive” to discover the public address you can use to receive those funds.

If you want to have those funds by buying directly on Freewallet, just follow the procedure we explained above.

Once you have those funds, just select the crypto pair you want to use to make the exchange.

Select the amount: you’ll be able to see the details of your transaction before finalizing it. If everything is fine, just complete the exchange.

How to Sell Solana?

Another type of transaction you can make on Freewallet is using your Solana coins to buy almost anything.

This particular feature of Freewallet allows you to actually use your cryptocurrencies to purchase products and services from the most popular online stores.

This is possible thanks to the “Buy a gift card” feature available on Freewallet. You can use this feature with any of your cryptocurrencies – Solana (SOL) is included.

Once again, Freewallet is not only a useful platform for those who ask where to buy a Solana token, but also a platform that wants to allow all the people who want to use cryptocurrencies as a daily financial means.

In this sense, Freewallet allows you to use your cryptos to buy gift cards in over 100 stores – including Amazon.

You’ll find gift cards of different values – from $1 to $1000.

What is Solana (SOL)?

The structure of Solana leads many crypto users to ask where can I buy Solana crypto?

So, let’s dive deeper into the details of this crypto project.

The development of the Solana blockchain started in 2017, but it was launched only in 2020.

The founders of this project, Anatoly Yakovenko and Greg Fitzgerald, wanted to create a highly scalable blockchain-based solution that could fit the needs of decentralized finance.

The project is open-source, and anyone can check its source code on GitHub.

As with many DeFi projects, Solana doesn’t just allow transactions and exchanges, but also gives developers the opportunity to build new applications and to participate in one of the most popular markets – NFTs (non-fungible tokens).

The characteristics of this blockchain – which allows for fast and inexpensive transactions – make Solana suitable for DeFi projects, often unable to attract more users because of fees that could make it unprofitable to operate on congested blockchains.

Where to buy Solana NFTs became a common question among NFTs enthusiasts. As reported by the official website of Solana, the average mint cost amounts to around $1.5.

If you want to know how to buy Solana NFTs, the project attracted so many crypto users that it launched its own market for NFTs – Solanart. To start participating in this market, you’ll just need to connect your DeFi wallet to the platform – you can choose among the 12 wallets supported.

Is Solana a Good Investment?

Saying whether a cryptocurrency is a good investment would be incorrect, so it’s better to analyze the objective feature of a crypto and let the trader or investor decide if that crypto meets their needs.

The first thing to consider about SOL is that its underlying blockchain technology uses a hybrid consensus algorithm that combines proof-of-stake (PoS) and proof-of-history (PoH) – the latter was introduced by Solana.

Simply put, both PoS and PoH allow for faster transaction verification and the optimization of the whole process, by relying on stakers and timestamps.

Moreover, proof-of-stake favors a lower supply: this, combined with the fact that Solana uses a fee-burning mechanism, allows the crypto project to reduce supply even if the crypto has no maximum supply set. So, the coin fully respects the economic principles that allow cryptos to gain value over time.

SOL/USD price chart. Source: CoinMarketCap

Conclusion

Solana is a blockchain-based project that focuses on scalability. This particular characteristic allows for faster and inexpensive transactions.

These are just some of the reasons why Solana became popular among crypto enthusiasts – especially those who want to benefit from all the opportunities offered by the decentralized financial space.

Web3, decentralized applications, NFTs: all this can be exploited thanks to Solana, whose flexibility and scalability make it possible for the project to become a valuable solution to use the DeFi space.

But Solana coin, SOL, is a cryptocurrency that can be bought also by those who want to participate in the crypto space for trades and investments.

In this sense, centralized exchanges can be used to get this crypto – and Freewallet also allows you to manage your Solana wallet, buy and exchange SOL, and use the coin to make everyday purchases.

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