How To Buy Solana (SOL) With a Credit or Debit Card

A platforms reputation and security are necessary considerations when it comes to choosing the place to buy cryptocurrency.

Although there are numerous cryptocurrency exchanges, CEX.IO is unique because it offers customers an entire ecosystem of products and services that enable them to interact with the decentralized economy in multiple ways. More than 15 million customers trust CEX.IO in the marketplace.

CEX.IO makes it easy and fast to buy digital currency. The desktop version allows you to trade, stake, and save crypto. The platform also offers a mobile application that enables the exchange and sale of crypto instantly anywhere and anytime.

We've prepared some basic information for those just discovering digital currencies, who want to find the best way to buy SOL online in the U.S.

What do you need to know about the Solana (SOL) coin?

Solana represents a decentralized computing platform. It uses SOL coins to carry out transactions. As with other blockchains, Solana is capable of executing smart contracts. Solana is considered to be one of the fastest blockchain networks in the world, with over 400 projects spanning NFTs, DeFi, Web3, and more. By combining proof of stake consensus with proof of history, Solana aims to improve blockchain scalability. Thus, Solana claims to be able to handle 50,000 transactions per second without losing its decentralization.

How does Solana work?

By combining proof-of-stake consensus with proof of history, Solana enables high transaction speeds. Proof of history allows computers participating in a decentralized network to maintain time without needing to communicate about it or come to an agreement.

The Solana platform does not require validators to have a minimum number of tokens in order to participate. Consequently, anyone owning $SOL tokens can act as a validator node. In reality, however, most stakeholder rights are delegated to larger validator nodes. A "leader" is selected in a pseudorandom manner every four blocks (or 1.6 seconds) among these validators. As transactions are added to the blocks during this time, the blocks are then reviewed by other validators on the network.

Participants who violate the agreement may have some or all of their tokens slashed, while those who behave appropriately may receive additional tokens. Security, decentralization, and scalability are optimized with the combination of the leader system and timestamps (which require less time per transaction). Compared with other smart contract protocols at Layer 1, this yields favorable results. Specifically, the maximum number of transactions per second can reach 30X its nearest competitor, and 3,500X Ethereum 1.0. As a result, transaction fees are extremely low (*0.0005% of Ethereum).

Are there reasons to buy Solana?

Here are some considerations for determining whether Solana is a good addition to your portfolio:

• Solana rates among the top 10 cryptos by market capitalization.
• Solana has gained more than 15,000% in value since the beginning of the year 2021, as users seek Ethereum alternatives.
• In the near term, stronger acceptance of Solana could be a catalyst.
• As a result of its blockchain technology, transactions could be processed for less than 0.1 cents per transaction.

Due to the influences above, you may wish to learn how and where to buy Solana coin

Places to buy Solana crypto

There are multiple ways to buy Solana. It is possible to use an exchange like CEX.IO, or a cryptocurrency ATM. A cryptocurrency exchange such as CEX.IO lets you purchase Bitcoin and a variety of other cryptocurrencies with a credit card. You can choose from many types of payment methods on the crypto platform, including bank transfers and electronic wallets.

The decentralized exchanges allow you to buy and exchange a wide variety of cryptocurrencies, but are not allowed to handle fiat money. It is possible to trade only crypto tokens between them. A cryptocurrency ATM is a machine that sells Bitcoin and other cryptocurrencies. Most of them, however, offer a limited selection of crypto and require a wallet address.

Payment methods for buying SOL at CEX.IO

When you want to exchange SOL for USD, or convert BTC to USD you need to first add funds to your CEX.IO balance. If you have passed verification, you will have access to several payment options.

The deposit and withdrawal of fiat funds can be facilitated using Visa and Mastercard debit or credit cards, international and domestic bank transfers (SWIFT and SEPA), Skrill, and PayPal.

How to buy Solana with a credit card via a desktop platform

Consider CEX.IO a good choice if you want to trade crypto for the first time and buy Solana.

We make it easy and quick to purchase with our Instant Buy feature. Use Fill-or-Kill (FOK) orders in Instant Buy to buy crypto using pre-calculated packages. Over two minutes, the price is locked to allow you to buy Solana (SOL) at the most lucrative price. Once 120 seconds have passed, the price recalculates.

How to register at CEX.IO

Some people think that the process of registering for websites that require personal information will take a long time, so they quit or put it aside for later. In general, time is required for cryptocurrency exchanges to check your data and provide secure transactions.

However, CEX.IO's registration process is far from complicated. Just follow these simple, steps:

• If you already have an account, enter your credentials or log in.
• Confirm your identity by completing the verification process.
• Link your debit or credit card.
• Use fiat currencies (USD, EUR, GBP, etc.) or cryptocurrencies to fund your account.

Now that preparation is complete, you can move forward. The next step is to purchase SOL.

How can I buy SOL instantly at CEX.IO?

To buy Solana using the Instant Buy service, follow these steps:

1. Go to the Instant Buy page.

2. Choose SOL from the list next to “Buy,” and select the fiat currency (GBP, EUR, USD) with which you want to make the purchase, next to “For.”

3. Below you will find pre-calculated packs. Choose one of them or enter the amount you’d like to purchase. 120 seconds before the current market price is fixed, you'll see the timer counting down.

4. Press the “Buy” button.

5. Verify entered information twice

6. Select the verified card you want to use for digital asset purchases, or add a new one.

7. Ensure you have accepted the Terms of Use.

Click on the "Buy Now" button.

Following these steps, you can buy Bitcoin instantly.

 

How can I buy crypto via the mobile app?

The CEX.IO platform is available in desktop and mobile versions, making it possible for you to generate transactions, exchange and manage your coins on the go if you cannot access your PC. Let’s say for example, you want to buy Ethereum with credit card.

• Log in to the CEX.IO App, or create an account
• Choose the Buy icon on the bar.
• Opt for ETH from the list.
• You can either select one of the pre-generated packs, or enter your own amount. The current market price freezes for two minutes.
• Click the “Buy” button.
• Verify that all details are correct.
• Alternatively, you can choose to add an additional credit or debit card.
• Click “Proceed” to complete.

Within a few minutes, your account will be credited with ETH. Via the CEX.IO mobile app you can buy crypto, but also sell it. You can sell Bitcoin, for example.

How can I buy Solana with a debit card at CEX.IO?

At CEX.IO you have a wide range of payment options from which to choose. If you want to buy SOL with a debit card, you may use either Mastercard or Visa. Here's how to proceed.

Create an account and replenish your balance with a Mastercard or Visa card before purchasing cryptocurrency.

Press the “Add funds” button on CEX.IO Wallet page to deposit funds. Afterward, follow these steps:

1. Select the currency and amount you want to deposit (USD, EUR, GBP).
2. Choose the payment card method.
3. If you wish to use a debit card, choose it or add one. Type the CVV/CVC, then click “Accept Terms.” Then click “Proceed.”
4. You will receive a 3DS code from your bank. Enter it to confirm your deposit.

Once funds are credited to your CEX.IO account, you can begin to buy and trade cryptocurrencies listed on the platform.

Fees

If you bought crypto through a payment option or service, the fees may vary. You typically pay commissions when depositing or withdrawing funds from a crypto exchange, or trading cryptocurrencies. Check limits and commissions before funding an account, in order to make payments according to platform requirements.

How can I earn extra at CEX.IO?

Despite crypto trading on the spot at CEX.IO and margin trading, you can earn rewards with Staking and Savings.

Staking

By depositing stake coins on your CEX.IO balance, you can earn rewards. You can trade staking rewards or withdraw them whenever you like. Rewards are calculated every hour. CEX.IO will automatically credit your account with the earnings you make during the staking period. By staking your tokens, you can potentially receive 20% of annual reward percentage (the staking reward varies with each currency).

Savings

Savings accounts allow you to earn crypto rewards. Instead of leaving your cryptocurrency on your balance, you can transfer it to a savings account on CEX.IO. Annual rewards percentage for an asset ranges from 2 to 22%.

FAQ

Here are some common questions, and the answers to them.

What app can I use to buy Solana?

With the CEX.IO mobile app, you can carry your crypto with you wherever you go. The app allows you to buy, sell, keep or trade crypto wherever you are, at any time. In the event you don't have access to your computer/laptop, the app is helpful while you're on the go.

What should I know before I buy a SOL coin?

In order to determine whether it's a good idea to buy Solana coin or any other crypto, you need to understand the basics of trading analysis. Then you will be able to analyze charts, compare current cryptocurrency prices, and decide when is the right moment to buy or sell crypto.

Where do I go if I have questions about the platform?

CEX.IO customer support is available 24/7. If you don’t know how to use different services or have any problem with payments, transactions, deposits, etc., please, contact our support team via the live chat. You can also find answers to many questions in our Help Centre.