Latest News
- Solana Surpasses Bitcoin and Ethereum: Solana’s trading volume reached over $100 billion in December 2024, outperforming both Bitcoin and Ethereum.
- VanEck Files for Solana ETF: Investment manager VanEck has filed to list the first U.S. exchange-traded fund linked to the spot price of Solana.
- Robinhood Expands Crypto Offerings: Robinhood Markets has added Solana, among other cryptocurrencies, for U.S. traders.
Table of Contents
- Introduction
- Solana’s Recent Performance
- How to Invest in Solana
- Step-by-Step Guide to Buying Solana
Introduction
In the ever-evolving world of cryptocurrencies, Solana has emerged as a formidable player, recently outperforming both Bitcoin and Ethereum in terms of price performance and trading volume. This article delves into Solana’s recent achievements, provides a comprehensive guide on how to invest in Solana, and answers frequently asked questions to assist potential investors.
Solana’s Recent Performance
Solana has demonstrated remarkable growth, with its price surging over 2,000% since its 2022 lows following the FTX collapse. This impressive performance has allowed Solana to outperform both Bitcoin and Ethereum on 344 out of 727 trading days since the FTX incident. In December 2024, Solana’s decentralized exchanges (DEXs) recorded a trading volume exceeding $100 billion, surpassing Ethereum’s volume of approximately $77 billion. This consistent upward trajectory underscores Solana’s growing prominence in the cryptocurrency market.
How to Invest in Solana
Investing in Solana is a straightforward process, accessible through various platforms:
- Centralized Exchanges (CEXs): Platforms like Coinbase, Kraken, and Binance allow users to purchase Solana directly using fiat currencies or other cryptocurrencies.
- Decentralized Exchanges (DEXs): If you have a crypto wallet, DEXs such as Raydium, Orca, and Jupiter enable you to buy, sell, and trade Solana (SOL) as well.
Step-by-Step Guide to Buying Solana
- Choose a Platform: Select a reputable exchange that supports Solana. Centralized exchanges like Coinbase or Binance are user-friendly options for beginners.
- Create an Account: Sign up on the chosen platform by providing the necessary information and completing verification processes.
- Deposit Funds: Add funds to your account using your preferred payment method, such as a bank transfer, credit/debit card, or other supported options.
- Purchase Solana: Navigate to the trading section, select Solana (SOL), and enter the amount you wish to purchase. Review the transaction details and confirm the purchase.
- Secure Your Investment: To ensure the safety of your assets, transfer your Solana to a secure wallet, such as the Phantom wallet.
