How To Buy Solana And Is It A Good Idea?

People are usually guided by news background and hype when picking a crypto asset for investment. But there are also other not less important aspects to consider:

  • the market trend;
  • reputation of a project;
  • benefits and technology of a project;
  • technical and fundamental indicators.

The top crypto assets have the best reputation, market capitalisation, and trade volume. Among others, we would like to outline the Solana project and take a look at Solana price today and figure out if it is worth investing in it. Also, we will discuss how to buy Solana and where.

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What Is Solana?

Solana is a platform based on the Proof-of-Stake mechanism, which means SOL coins are not mined but staked. A person who owns some SOL coins can lock coins and create a node on the Solana blockchain, thus providing the operability of the network, and receive the rewards from the network in the form of SOL coins in return.

Solana platform is actively used by DeFi products, NFT, metaverse, blockchain games and other product developers who use Solana as a base for their creations. The native SOL coin is used in all the products built on the Solana blockchain.

The Price Of Solana

Solana price today is drastically different from what it was during its best times. One year ago, in November 2021, the SOL price reached $258.78. Today’s mark of $14.51 shows a significant deadline, which can be explained by the following factors:

  • The overall crypto market will drop in 2022 and crypto winter.
  • The FTX crypto exchange financial troubles have been revealed just recently. Solana held millions on this platform.

Nonetheless, SOL is still on the top traded list and one of the most profitable crypto assets with brilliant prospects for the future. You can buy Solana coins on the WhiteBIT platform and trade them or hold them until the market trend changes for “bull”. To purchase SOL, register on the exchange and place the order to buy SOL coins, pay the fee and receive SOL in your account in a matter of minutes.

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