The cryptocurrency industry is evolving, bringing more and more new products to the market. DeFi is the key direction. Now numerous decentralized products are developed and deployed – blockchain games, metaverses, etc. They used to be deployed on the Ethereum network, but it has become costly and not efficient lately. Due to an increased influx of dApps, the Ethereum blockchain was overloaded, which caused the transaction fee growth and throughput slowdown. Here are the reasons why the Solana network has become so popular:
- it executes 50,000 transactions per second with no delays;
- it charges a minimal fee;
- instead of Proof-of-Work consensus protocol, Solana uses Proof-of-Stake with the addition of Proof-of-History, enabling much better performance.
SOL is a native coin of the Solana platform. It is used for paying fees within the network and also in staking mechanisms. As of September 2022, the SOL to USDT pair is traded at $32,87.
The project is rapidly developing, it has an engaged and active community of dApps developers building more and more products based on Solana. So the project is up-and-coming, and the SOL crypto price has all the chances to increase significantly. It makes sense to buy SOL crypto now as its price is quite affordable.
Where to Buy SOL Crypto?
You can use centralized or decentralized crypto platforms for buying SOL. Centralized exchanges are more recommended because they have a more straightforward interface and operate officially. The conditions for users are transparent, with no hidden fees.
An example of such an exchange may be WhiteBIT. It offers:
- staking;
- futures trading;
- crypto trading bots;
- margin;
- p2p;
- spot;
- leverage;
- etc.
The platform provides up-to-date SOL crypto price. Registered users access the whole set of trading features and the opportunity to buy SOL crypto with fiat currencies. To buy crypto with your bank card, you need to create an account and verify it; add your bank card; move the needed amount of funds from your card to the account; go to the “Exchange” section and pick SOL and Dollars or Euros (depending on what currency you have), pay the fee, and receive SOL coins in your account.