Connect with us


How to Buy Solana (SOL)




We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

Solana is a top altcoin and part of a group of cryptos commonly referred to as “ethereum killers.” 

Like ethereum, the solana (SOL) blockchain supports various decentralized finance (DeFi) projects such as NFTs, smart contracts, and decentralized app development (dApps). You can also use the solana token to stake and earn coins, and pay fees when transacting on the blockchain.

Solana has some good qualities and some issues, says Mark Fidelman, host of YouTube’s “Cryptonized” and founder of crypto marketing agency SmartBlocks. Solana “is faster and has much lower costs than ethereum, which is ideal for building dApps,” he says. “Solana’s current problem is lack of traffic. It needs a killer dApp that attracts people to the platform.” 

If you’re interested in adding solana to your crypto portfolio, here’s what you should know, along with how to buy it.

Before You Invest

Cryptocurrency is a highly volatile, speculative investment. And altcoins like solana amplify the volatility and risk. Only invest in crypto what you’re prepared to lose, and make sure you have other financial priorities in place first: save money in an emergency fund, contribute to retirement savings, and pay off any high-interest debt balances.

Steps to Buy Solana

Buying Solana via a cryptocurrency exchange is a straightforward process that involves funding your account with the amount needed to make your purchase. Keep in mind that different exchanges have different minimum thresholds for buying different tokens, as well as different fee structures depending on how you execute trades.

Pro Tip

Cryptocurrency is an emerging asset class and must be approached carefully. Do your due diligence and only invest what you can lose.

Find a Cryptocurrency Exchange 

For most newer crypto investors, experts recommend using a prominent, mainstream exchange such as Coinbase, which we think is the best overall exchange for most investors. Other popular mainstream exchanges are Gemini, FTX.US, Kraken, and eToro

Coinbase and other top exchanges do often charge higher fees than other crypto exchanges, but experts say you get what you pay for and point to the security standards, ease of use, and transparency as good reasons to pay the higher fees.

Fund Your Account

Funding your account is a straightforward process on most exchanges. You will typically connect your funding source to the exchange and deposit a designated amount of money into your wallet, which can then be used to place orders for various cryptocurrencies offered on the exchange.

Place an Order

The details and exact process for any order will vary per exchange, and each exchange may designate a minimum or maximum amount that can be purchased within a single transaction or a single day.

Understanding an exchange’s terms of service is a key part of successfully placing an order. While most transfers happen pretty quickly, occasionally there may be a delay in your transactions, due to factors outside of your control. 

Storing Your Solana

You have a few options for storing your new SOL tokens after buying them. If you want to keep things simple, you can store your tokens directly in your exchange account. But if you’ve got an array of holdings and want some added security or privacy, you might move your coins off the exchange into your own crypto wallet

Cold wallets are considered the most secure way to hold crypto investments, and you would purchase and manage this on your own. There are also hot wallets in which your crypto is kept digitally. Many exchanges offer their own hot wallets, and there are also hot wallets that are separate from any exchange.

What Can You Do With Solana (SOL)?

While the Solana blockchain is a robust ecosystem that offers various dApps you can use, its native token can be primarily used for staking on the blockchain. Along with potential rise in value over time, staking allows investors to effectively earn interest on their SOL. 

Best Wallets for Holding Solana (SOL)

Choosing the best wallet for holding your Solana doesn’t need to be overwhelming. You can choose a wallet specifically designed to support Solana, or give yourself a place to store other coins as well. Here are three wallets that support the Solana ecosystem.

Coinbase Wallet

Coinbase Wallet, from the popular Coinbase exchange, is a top choice for beginners. It’s free, easy to use, and supports thousands of cryptos. It’s also noncustodial, so you maintain control over your private keys. The wallet started supporting SOL this year, and plans to further integrate with the Solana ecosystem over time. You can use it to store your coins as further options develop, like support for Solana NFTs.

Coinbase Wallet at a Glance

  • Self-custody
  • Hot storage
  • Number of supported coins and tokens: Thousands
  • Costs: Free, but transaction fees may apply


Exodus supports Solana and more than 180 other currencies. While other wallets may support more coins, Exodus gives you the ease of storing your crypto in one place while connecting with multiple exchanges. And you can directly interact with other users with the wallet’s built-in exchange. It’s a bit advanced, but you might find it worth it for the options. 

You can get the Exodus wallet on desktop, mobile, or as a hardware wallet. The hardware option is a Trezor wallet integration, meaning a Trezor wallet with an Exodus hot wallet running on it. 

Exodus at a Glance

  • Self-custody
  • Hot storage and cold (with Trezor integration)
  • Number of supported coins and tokens: 180+
  • Costs: Free, but transaction fees may apply

Ledger Nano X

The Ledger Nano X, which we think is the best cold wallet you can buy on a budget, added support for SOL this year via its Ledger Live app. A cold wallet offers stronger security than a hot wallet since it’s not connected to the internet at all times, so it’s harder to hack.

You can hold SOL with your Nano X, and buy, send, and receive it with Ledger Live. The Ledger Nano X supports thousands of coins, and it runs on Bluetooth so you don’t need to plug it in. Its Secure Element security chip is similar to what is used to secure credit cards. 

Ledger Nano X at a Glance

  • Self-custody
  • Cold storage
  • Number of supported coins and tokens: 5,500+
  • Costs: $149

Is Solana Worth It?

Like any smaller altcoin, investing in Solana comes with plenty of risk. Experts point to its potential and relatively stable (albeit short) history among top cryptos by market cap as factors investors might consider before buying Solana.

“There are those who invest because they see a healthy crypto asset with great potential. I fall in that category,” says Tally Greenberg, head of business development at staking and hosting platform Allnodes. “Solana has a sound market cap of $35 billion, and it has been a constant in the top 10 crypto assets for quite some time.”

While the blockchain has a wide variety of use cases, the Solana coin is primarily used in staking. 

History of Solana

If you’re looking to invest in Solana (SOL), consider the risks associated with investing in cryptocurrency, a market still in its infancy and considered to be a highly speculative space. While the token’s price more than tripled in the summer of 2021 due to interest in DeFi and NFTs, it took a huge dip in early 2022, briefly bounced back, and has made only small gains since May’s massive crypto crash

The Solana blockchain was created and co-founded by Anatoly Yakovenko in 2017. He saw the challenges of using the ethereum blockchain, and he implemented proof of history, which creates a record of when transactions occur, and speeds up activity while lowering the cost per transaction. 

If you do decide to buy Solana (SOL), make sure you’ve paid off any high-interest debt and have a secure retirement account and a well-padded emergency fund.

Source link

Continue Reading


Tulip Protocol Officially Integrates Chainlink on Solana Mainnet




Tulip Protocol Officially Integrates Chainlink on Solana Mainnet

Today, Tulip Protocol made the announcement that they have integrated Chainlink Price Feeds in order to better secure their yield aggregating platform that is running on the Solana mainnet. The team had previously stated their intention to integrate Chainlink Price Feeds, and at this point, the connection has been completely put into action. Chainlink is the premier decentralized oracle network in the world, safeguarding tens of billions of dollars in smart contracts. It has diversified its offerings across other blockchains, notably Solana, Fantom, Polygon, BNB Chain, and others.

In a recent blog post, the team behind the Tulip Protocol explained that they had integrated Chainlink to provide users with more confidence that leveraged positions will be liquidated equitably using extremely accurate price data and that the protocol will continue to be completely collateralized at all times.

According to Tomasz Wojewoda, Head of Global Sales at Chainlink Labs:

“We’re pleased that Tulip Protocol has integrated Chainlink Price Feeds on Solana, helping secure its yield aggregation protocol with highly robust, decentralized market data. With the high-throughput performance of Solana and the strong security guarantees of the Chainlink Network, Tulip Protocol is able to empower users with a performant and secure platform.”

Tulip Protocol Seeks To Take Advantage Of Solana

Tulip Protocol brings together lenders who receive a return on their deposits and borrowers who are interested in gaining access to leverage. Users who initiate leverage positions are responsible for maintaining a loan-to-value (LTV) ratio that has been previously established. The Tulip Protocol then uses the asset price data that is provided by Chainlink Price Feeds to verify that this ratio is accurate. If the value of the collateral falls below the threshold that was established by the protocol, then their position will be immediately liquidated to assist in guaranteeing that the lenders will be repaid.

Tulip Protocol intends to capitalize on Solana by giving users the ability to more regularly reinvest their income and grow their assets without having to pay exorbitant amounts of gas expenses. Chainlink oracles can now be natively integrated on Solana, making it possible for Solana-based applications to benefit from enhanced levels of security and transparency. Yesterday, OpenOcean made the announcement that they would be integrating Chainlink Price Feeds in order to help secure the limited order functionality on many chains. These chains include Avalanche, Ethereum, Polygon, Fantom, and BNB Chain.

According to Senx, Co-Founder of Tulip Protocol:

 “We’re excited to be using Chainlink Price Feeds on Solana to help secure our yield aggregation platform. By leveraging the most secure and reliable on-chain data available, we’re able to provide our lenders and borrowers with greater assurances that liquidations are based on accurate price data, and the protocol will maintain a healthy loan-to-value ratio through all market conditions.” 

Allowing Stakers To Benefit From Higher APYs

Natives of the blockchain as well as newcomers to the technology are beginning to understand that decentralization does not necessarily equate to a secure platform. Given that Web3 services are currently disclosing their susceptibilities to attacks from both within and outside the network, further initiatives should be undertaken to improve the safety of user assets. Fortunately, a growing number of blockchain businesses are beginning to add various levels of security to their services in order to solidify the trust of their existing customers and attract additional investors in the near and distant future.

Tulip Protocol is the very first yield aggregation platform to be built on Solana, and it features auto-compounding vault techniques. The dApp was developed to make use of Solana’s blockchain, which has a low cost and high efficiency, hence enabling the vault techniques to compound frequently. Stakeholders are able to reap the benefits of greater APYs as a result, without the need for active management.

Source link

Continue Reading


Is your SOL safe? What we know about the Solana hack




On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss the latest updates concerning the recent Solana (SOL) hack.

To kick things off, we broke down the latest news in the markets this week:

Bitcoin realized price bands form key resistance as bulls lose $24K, significant whale activity between $22,000 and $24,800 adds to the complexity of the current spot market setup. Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range. When will we finally break out of this price range and make the move towards $30K?

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report, “Greater clarity” around the Merge has driven institutional inflows into Ethereum products, according to a CoinShares report. Is the ETH merge finally around the corner and will it bring new all time highs to ETH or has the price already been factored into the current price?

Circle freezes blacklisted Tornado Cash smart contract addresses, Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons (SDN) list. Could this mark the end for Tornado Cash or is there a way they can redeem themselves?

Next up is a new segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Have some funds ready to buy further downturns.

Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some markets news to bring you up to date on the latest regarding the top two cryptocurrencies.

After Marcel’s market analysis, our resident experts discuss whether your SOL is safe and the latest updates on the Solana hack. We also discuss why the network has been victim to so many hacks and downtimes. What exactly do these exploits mean for the Solana platform and if you should be worried.

Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Radicle’s RAD and DigiByte’s DGB.

Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a 1 month free subscription to markets Pro worth $100!

The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.

Source link

Continue Reading


Web3-Based ZepetoX to Build on Solana




Web3-Based ZepetoX to Build on Solana

Singapore, Singapore , Aug. 09, 2022 (GLOBE NEWSWIRE) — Today, the ZepetoX team (ZTX, announced its foray into the web3 space, sharing its vision to build an open world that empowers creators and communities to build, play and earn.

ZepetoX is the crypto metaverse initiative jointly incubated by ZEPETO – Asia’s largest metaverse platform with over 320 million registered users – alongside leading global blockchain organizations including Jump Crypto.

As the sole blockchain project comprehensively backed by ZEPETO, ZepetoX will have exclusive ties to ZEPETO in terms of IP including technological, design, and content assets as well as bridges to facilitate user onboarding between the two platforms. ZepetoX’s blockchain development efforts will be advised by Jump.

“ZepetoX is our official venture into the blockchain industry. We feel that web3 opportunities should be advanced through a crypto-native approach, which is why we are excited to have Jump as a contributor to developing a new platform that would have exclusive connections to ZEPETO. Overall, we believe that ZepetoX can build the ideal web3 platform to not only bring blockchain to our existing users but also to expand our footprint in the blockchain space through various disruptive initiatives,” said Daewook Kim, CEO of Naver Z – the operating entity of ZEPETO.

“We are excited to support ZepetoX’s efforts aimed at onboarding new audiences into the rapidly growing crypto space. ZEPETO’s expertise and technological know-hows accumulated over the past years from building an immersive social platform will serve as a springboard for ZepetoX,” said Saurabh Sharma, Partner at Jump Crypto.

Building on the Solana network, ZepetoX will offer a web-based 3D open world with varying levels of gamification integrated as well as opportunities for users to monetize via ownership of digital assets and social interaction. Ultimately, ZepetoX aims to empower self-expression through customizable avatars and lands that can be equipped with NFTs from a rich collection of assets created by diverse creators, DAOs, or communities.

“I am thrilled to see IP powerhouses like ZepetoX choosing to build their metaverse on Solana,” said Anatoly Yakovenko, Co-Founder of Solana. “Projects like ZepetoX create new pathways for onboarding millions of users to web3.”

“Our global team brings a depth of crypto native experiences and our goal is to build on the foundation of ZEPETO to spearhead the adoption of blockchain among metaverse users, developers, and creators,” said co-CEO of ZepetoX, Chris Chang.

In the coming months, ZepetoX will launch its first land sale. The lands will be tradable on the ZepetoX marketplace, which will feature a variety of different NFTs as the open world project evolves. Further details on the sale will be available on the ZepetoX website in the coming weeks.

# # #

About ZepetoX: ZepetoX (ZTX) is a web3 company building an immersive content-driven platform for users to create, trade digital assets and enjoy social interaction. Founded in 2022, ZepetoX is the blockchain initiative of ZEPETO, widely regarded as the largest Asia-based metaverse platform boasting over 320 million lifetime users with over 2.5 billion virtual fashion items sold.



News Via KISS PR Crypto Press Release Distribution Media Contact

Source link

Continue Reading


Copyright © 2022 CASHVerse LLC.