How to Buy Solana (SOL) in 2021
Solana is a smart contract blockchain that uses the proof of stake mechanism similar to Ethereum and Cardano. However Solana has an additional edge by using the proof of history protocol to increase its transaction speed. Without going into too much detail, proof of history allows network computers to order transactions immediately, without waiting to hear about the latest block of transactions.
By removing this bottleneck a new block of transactions can be created every 0.4 seconds.
The native token of Solana is SOL, which like Ethereum’s Ether can be used for running Decentralized Apps and staking, among other functions. Depending on the amount of Solana you’re planning to buy, you can choose to store it on either a hardware wallet or a software wallet.
If you’re buying a small amount of Solana, then a free software wallet that can be downloaded to your mobile phone or computer like Exodus will do.
Exodus is a popular wallet with over four million downloads. It supports Solana and more than 110 other crypto assets, and is available both on desktop and mobile. If you’re planning to use Solana-based DApps, you may prefer to use Phantom wallet, which has a handy browser extension. If, on the other hand, you’re planning on accumulating larger amounts, it’s safer to store it on a dedicated device known as a hardware wallet. Our recommendation for a hardware wallet that can store Solana would be the SafePal Safe Wallet.
The SafePal Safe Wallet is a reputable wallet which can store over 1000 cryptocurrencies alongside Solana.
It can even connect to your mobile phone, which is a great advantage. Once you’ve set up your wallet, make sure to find your Solana address, which will be used whenever you want to send Solana to your wallet.
Each Solana address is a 44-character string of random numbers and letters. Finally it’s time to find a place to buy Solana.
If you’re planning on buying and holding, then CEX or Kraken would both be good options for you.
Both provide worldwide support, have a good reputation and a beginner-friendly instant-buying option. However, if you’re planning on trading your Solana, then Binance’s trading platform might be more suitable for you, as it will save you some fees. While some exchanges will store coins for you on their site, you’ll want to make sure to withdraw them to your own wallet by sending them to the Solana address we talked about before. This way you keep full control of your coins.
Free Solana Farm Airdrop
In November 2021 Solana Farm Token Launched an Airdrop & IDO
This Solana Finance Farm Token Integrates Yield Farming thru the Solana easy to use DEX. This is a community driven & BSC (Binance Smart Chain Blockchain) This is Solana’s First Staking BSC Token. Earn $SOL Tokens by Staking.
Create a BSC (BEP20) wallet and send the BNB to
your wallet address
Claim Airdrop and Buy IDO above.
Solana Yield Farming Begins after IDO Ends
Welcome to the Solana Family