Crypto blockchains have many purposes – some of them are meant for facilitating currency transfers, others connecting real-sector assets with crypto space, other tokenize real world’s assets, and some – allow other crypto products to be built on their basis. In this article, we would like to discuss the Solana platform and give some good options on how to buy Solana.
Solana: Benefits and Application
The Solana network was released in 2017 by the Solana Labs company. It is an open-source network with many advantages for developers:
- Possibility to build decentralized and scalable apps, NFT collections, and smart contracts.
- Proof-of-Stake consensus protocol.
- 50,000 TPS processing
- $0.00025 fee for one transaction.
SOL tokens are received through staking, not mining. Staking is a proof of ownership in simple terms. That means if you have some SOL coins, you can put them in staking and receive new SOL in return.
SOL is traded on all large crypto platforms. You can buy Solana, trade it or stake it on the WhiteBIT exchange. Let’s see the easy steps for buying SOL.
How to Buy SOL?
If you have a digital wallet and some coins in it, you can exchange it for SOL. If this is the first time you buy crypto, use fiat money for buying SOL:
- Register on WhiteBIT
- KYC verification – provide your documents for checking and wait for a couple of days
- Picking a payment method (attack your card)
- Go to the crypto calculator
- Pick SOL crypto and your fiat currency
- See the SOL price (as of mid-December 2022, its rate is $12.12)
- Pay the min commission (0,10%).
Once the commission is paid, you receive SOL in your account. For more information on crypto trading, visit the WhiteBIT blog – articles, overviews, crypto news, and guides are waiting for you there.
If you would like to practice buying crypto assets, feel free to use the WhiteBIT demo trading option.
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