How to Buy Solana Crypto: A Beginner’s Guide on Solana Swap

October 3, 2024

How to Buy

Amrit Korpal

One of the crypto projects on the market that has recently attracted everybody’s attention is Solana. The open-source blockchain platform Solana was developed in 2017 by Anatoly Yakovenko. Solana is a fast-growing blockchain, and SOL is the token used for transactions on Solana’s network. At the moment, it looks like one of the most promising blockchains on the market and its price continues to grow, so many traders and crypto enthusiasts eye it as an attractive investment. Let’s delve deeper into this well-known project and explore how to buy Solana (SOL) coins, highlighting StealthEX as one of the simplest choices for Solana swap.

What Makes Solana Crypto Unique?

Solana stands out as perhaps the only blockchain to successfully combine decentralization, security, and scalability. One of Solana’s main benefits is its quick and affordable transactions. It is said to have a 65,000 transaction per second processing speed, with an average transaction fee of $0.00025.

For even quicker processing, Solana employs a hybrid protocol that combines Proof-of-Stake with Proof-of-History. In terms of functionality, Solana is an open-source blockchain that can be used by developers in many ways. A few examples of what can be done in the Solana ecosystem are: 

• Minting, selling, and trading non-fungible tokens (NFTs).
• Developing decentralized finance (DeFi) platforms, such as decentralized crypto exchanges.
• Building blockchain games, including Web3 games, and partnerships with big-name companies.

In addition to the many benefits the network has to offer, a free payments framework called Solana Pay has been one of the most exciting advancements with Solana. It allows merchants to accept payments directly from customers through the Solana network.

Solana Swap: Where to Buy Solana (SOL) Coin?

There are many exchanges where one can swap BTC to SOL, and StealthEX is one of the safest options. The platform offers users to get SOL crypto with no extra fees and with the best floating and fixed rates. Solana is always freely available for purchase via StealthEX.

StealthEX is an instant cryptocurrency exchange with over 1,500 digital assets that was founded in 2018. The platform requires no sign-up and provides its users with usability, security, and transparency.

• The platform offers cross-chain swaps, a feature that’s often needed in the crypto field. With StealthEX, it is simple to begin a swap between two completely distinct blockchains, such as SOL to ETH, without having to go through the various stages that typical exchanges involve.
• Users can also choose between floating and fixed-rate swaps. Given the crypto market’s ups and downs, it can be difficult to calculate the number of coins required. StealthEX provides fixed-rate exchange to avoid confusion. 
• StealthEX is aimed at making crypto transactions secure and efficient and has perfected its design to provide a sleek and user-friendly interface that is greatly appreciated by its users. 24/7 customer support is always on the stand-by, assisting users should they have any concerns.
• Fiat-to-crypto exchanges are also available, which makes StealthEX a truly versatile platform. StealthEX offers 7 different fiat currencies that you can choose to buy SOL crypto with: USD, EUR, GBP, GHS, MXN, VND, and BRL.
• Security is always a priority at StealthEX: since it’s a non-custodial crypto exchange, it doesn’t keep your personal details and data breach is impossible.

In addition to the minimalistic website, the service offers a Mobile app to make the process of buying crypto even more accessible to a variety of clients. StealthEX Mobile crypto swap app lets you take advantage of the service’s benefits, including a feature-packed interface.

How to Buy Solana Crypto via StealthEX: BTC to SOL Swap

Just follow the guidelines below, these will let you make a quick and efficient crypto swap via StealthEX. Let’s imagine you want to exchange Bitcoin for Solana. To make an exchange, you need to take only a few simple steps.

• First, visit StealthEX and choose Bitcoin (BTC) in the left drop-down list. Then choose Solana (SOL) in the list of coins on the right. After setting the pair, enter the amount of BTC you want to exchange. When everything is set, click on Start Exchange, and you will be taken to the next page.

• In the second step, you need to provide your Solana recipient address. The recipient address must match the crypto you are going to receive. Remember to double-check the information you enter. As soon as you have carefully checked all the details, you can press the Next button and you will be redirected to the Confirmation page.

• Here you can revise the address provided and the amount of Solana you will receive. Don’t forget to read and check the Terms of Use and Privacy Policy box. Without checking the box you will not be able to continue the exchange. 

• When pressing the Next button, you will be redirected to the Exchange page. At first, you will see the address where you need to send your Bitcoin to continue the exchange. StealthEX will also provide you with the exchange ID. It is recommended to save your exchange ID or the link to your exchange.

• After you send coins, your swap will be processed. The exchange statuses on the page will be renewed automatically during the time of the exchange. The first status is Awaiting deposit. The following status is Confirming. This means that StealthEX is confirming the transaction you made. The next status is Exchanging. During this time the exchange is being made. Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes until you receive your SOL crypto.
• Finally, you will be redirected to the Finish page. This shows that the exchange has been successfully made and you will receive crypto to the address provided. To be sure that SOL crypto was sent to your wallet you can also use the Output hash shown on this page and check it in the blockchain list of transactions.

From here you can either create a new exchange or leave the page and check your Solana wallet to appreciate how quickly this crypto was sent to your address. Usually, a Solana swap is processed in a matter of minutes. 

Staking and Participating in the Solana Ecosystem

The ecosystem around Solana is growing quickly and has shown to be a desirable platform for DeFi apps. Furthermore, Solana supports a wide range of dApps from a variety of industries, including gaming, payments, borrowing, and more. The fact that developers can access the software code from the Lab’s GitHub is one fascinating aspect of the Solana ecosystem. Consequently, the platform facilitates easy and quick project development.

SOL block rewards and transaction fees are paid to Solana’s validators and stakers. After confirming transactions, these validators add them to the blockchain. A vital component of the Solana ecosystem are validators. Staking entails holding SOL over an extended period of time, assisting in the ecosystem’s sustainability. Therefore, Solana is the highest-performing blockchain ecosystem thanks to validators and staking.

How to Securely Store SOL Coins?

Investing in a variety of markets can help you lower your risk, and the same is true for distributing your assets among several storage options. You can lower your chance of losing Solana in the event that one of your storage alternatives is compromised by spreading out the ways that you store things.

A hardware wallet is arguably the safest way to keep cryptocurrency, and storing private keys offline is critical, making the case for investors to add cold storage devices into their self-custody processes.

A good way to store your Solana may be getting a hot wallet first: as hot wallets are already online, it’s quicker to use when interacting with online services. This is the wallet address you would provide to exchanges when withdrawing or depositing, or using dApps. Once you have finished interacting with these online protocols, or have some crypto that you want to hold long-term, it is best to transfer them to a cold wallet. This way, you can be sure that no crypto is lost in the process of investment.

Risks and Considerations When Investing in Solana Crypto

Many risks are connected with buying cryptocurrencies, especially as a major investment. First, cryptocurrency prices have shown to be incredibly volatile, fluctuating rapidly and often between high and low values. Although patterns are subject to change, a variety of factors influence price fluctuations.

In addition, government laws pertaining to cryptocurrencies are always changing and may vary depending on where you reside. Regulations may affect how you access or use cryptocurrency, which may lead to unpredictability and volatility. However, as cryptocurrency is still relatively new, it might take some time before lawmakers create precise, unified regulations.

Moreover, certain coins may be more vulnerable to scams than others, and certain platforms are safer than others. Additionally, there is no insurance or protection for lost or stolen cryptocurrency, so it’s always best to do your research whenever you are planning to invest into digital assets such as Solana.

Conclusion

The customisable, scalable, and quick blockchain of Solana offers the foundation required to create apps that have a chance of becoming widely used. A variety of apps and companies may be drawn to Solana by its extremely efficient system architecture, and as the ecosystem grows, the project and its SOL token can rise in value over time.

StealthEX is dedicated to transparency, security, and usability that crypto-to-crypto swaps can provide. This platform is a reliable partner for cryptocurrency enthusiasts seeking to swap or buy Solana quickly and efficiently. You can visit StealthEX to start your journey of discovery of how easy and instant Solana swaps can be!

If you have any questions, check out the comprehensive FAQ that contains the most important information about StealthEX.

Don’t forget to follow StealthEX on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX and the rest of the crypto world.

Please make sure to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.