How To Buy Solana Crypto | The Definitive Guide For 2022

Key takeaways

  • Solana can be bought at most major exchanges
  • Solana can be traded on DEX’s
  • Solana is a great potential investment
  • Solana has a thriving NFT ecosystem

How to buy Solana Crypto?

Solana is one of the biggest cryptocurrencies and also one of the most traded, it is available to buy or swap on majority of centralized exchanges and can also be swapped on majority of decentralized exchanges. 

In this article I will cover buying Solana on both a centralized and decentralized exchange. 

To buy on a centralized exchange such as Binance or FTX you must be KYC’d and have either crypto to swap for it or a debit card with available funds on it. You can not currently safely buy Solana without KYC’ing or on a DEX, this is due to anti money laundering laws and also the safety to the exchange and or the seller. 

You can however swap another cryptocurrency or stable coin such as USDC for Solana on a DEX in which you do not have to KYC for. Buying with a visa or debit card however you will be required to KYC. These days most KYC processes are run by an AI so there is no long wait time waiting on a human to verify your documents, most KYC processes will only take 5-10 minutes.

To KYC you will be required to have a proof of identification such as a driver's license or a passport that matches the name you have given to the exchange when creating your account. 

Where to buy Solana?

In this article I will be explaining how to buy Solana crypto through the centralized exchange FTX, which is one of the largest exchanges alongside Binance. 

To buy Solana on FTX with a visa/debit is very easy and user friendly, the process is very similar for most centralized exchanges so even though I am covering how to buy on FTX once you have learnt this you can carry it over to other centralized exchanges such as Binance, Gate, Kucoin and the dozen others currently on the market.

Once you have created your FTX account, gone through the KYC process and have you preferred payment method loaded with funds to buy Solana you can go ahead and start the process, which is lucky for us all and all new crypto users is very simple.

From the FTX home page click the “Fiat” button on the top navigation bar.

From this market screen click the “Deposit via Card” button towards the top of the page.

From here you can either add a new card or select a previously added one.

Once you have entered the amount in which you would like to deposit simply click the “Deposit” button.

You now have USD deposited into your FTX account, we now want to swap this USD to Solana. To do this we can use the swap box that is situated on the home page of FTX.

Make sure that USD is selected in the top box as this is the currency you have purchased within FTX, in the second box below click it and from the drop down select Solana or whichever other cryptocurrency you may want to purchase.

Now enter the amount of USD you would like to spend on Solana and click the “Buy Solana'' button. In this example we will be spending $100 USD.

Congratulations, you have now bought Solana. To learn more about it I have written a dozen articles comparing it to other blockchains and also talking about the NFT ecosystem, you can check these out here.

Buying Solana crypto on other centralized exchanges such as Kucoin and Binance is very similar to this process and you should be able to do so now. You will have to KYC on each platform separately.

How to buy Solana on a DEX?

So you want to know how to buy Solana on a decentralized exchange now? For this you will need the stable coin USDC which is Solanas native stablecoin, you will also need Solanas native browser wallet Phantom.

In this article we will be using Solanas biggest DEX Raydium and Solans native wallet Phantom, neither of these you will be required to KYC for.

Head over to Raydium and open the app.

From the app home page click the “Connect Wallet” button in the top right hand corner.

A pop up will open asking you which wallet you would like to connect, we are using phantom so will select phantom.

You will now be prompted in your Phantom wallet to connect to Raydium. Click Connect.

For this you will need your USDC in your connected phantom wallet. To buy USDC you can do so through FTX following the above instructions except swap USD for USDC rather than SOL.

In the swapping box on Raydium select USDC for the top box and SOL for the bottom box, this will swap USDC for SOL.

In the USDC box enter the amount of USDC you would like to spend, in this example that will be $100.

You can now click swap. You will be prompted through a transaction confirmation within your Phantom wallet.

Congratulations, you have now swapped USDC for SOL through the decentralized exchange Raydium.

What is Solana?

Solana is a layer 1 blockchain built for its speed and user friendliness. Solana boasts transaction times of just a few seconds and transaction fees of just $0.001 per transaction, this makes it a great blockchain for users to use and places it at the forefront of mass adoption.

Solana also has a thriving NFT ecosystem due to the low transaction fees and fast transaction times. Solanas NFT ecosystem has even rivaled Ethereums in number of sales made and transactions in a day.

To learn more about Solana and its ecosystems check out my other articles here.

Key takeaways

  • Solana can be bought at most major exchanges
  • Solana can be traded on DEX’s
  • Solana is a great potential investment
  • Solana has a thriving NFT ecosystem

How to buy Solana Crypto?

Solana is one of the biggest cryptocurrencies and also one of the most traded, it is available to buy or swap on majority of centralized exchanges and can also be swapped on majority of decentralized exchanges. 

In this article I will cover buying Solana on both a centralized and decentralized exchange. 

To buy on a centralized exchange such as Binance or FTX you must be KYC’d and have either crypto to swap for it or a debit card with available funds on it. You can not currently safely buy Solana without KYC’ing or on a DEX, this is due to anti money laundering laws and also the safety to the exchange and or the seller. 

You can however swap another cryptocurrency or stable coin such as USDC for Solana on a DEX in which you do not have to KYC for. Buying with a visa or debit card however you will be required to KYC. These days most KYC processes are run by an AI so there is no long wait time waiting on a human to verify your documents, most KYC processes will only take 5-10 minutes.

To KYC you will be required to have a proof of identification such as a driver's license or a passport that matches the name you have given to the exchange when creating your account. 

Where to buy Solana?

In this article I will be explaining how to buy Solana crypto through the centralized exchange FTX, which is one of the largest exchanges alongside Binance. 

To buy Solana on FTX with a visa/debit is very easy and user friendly, the process is very similar for most centralized exchanges so even though I am covering how to buy on FTX once you have learnt this you can carry it over to other centralized exchanges such as Binance, Gate, Kucoin and the dozen others currently on the market.

Once you have created your FTX account, gone through the KYC process and have you preferred payment method loaded with funds to buy Solana you can go ahead and start the process, which is lucky for us all and all new crypto users is very simple.

From the FTX home page click the “Fiat” button on the top navigation bar.

From this market screen click the “Deposit via Card” button towards the top of the page.

From here you can either add a new card or select a previously added one.

Once you have entered the amount in which you would like to deposit simply click the “Deposit” button.

You now have USD deposited into your FTX account, we now want to swap this USD to Solana. To do this we can use the swap box that is situated on the home page of FTX.

Make sure that USD is selected in the top box as this is the currency you have purchased within FTX, in the second box below click it and from the drop down select Solana or whichever other cryptocurrency you may want to purchase.

Now enter the amount of USD you would like to spend on Solana and click the “Buy Solana'' button. In this example we will be spending $100 USD.

Congratulations, you have now bought Solana. To learn more about it I have written a dozen articles comparing it to other blockchains and also talking about the NFT ecosystem, you can check these out here.

Buying Solana crypto on other centralized exchanges such as Kucoin and Binance is very similar to this process and you should be able to do so now. You will have to KYC on each platform separately.

How to buy Solana on a DEX?

So you want to know how to buy Solana on a decentralized exchange now? For this you will need the stable coin USDC which is Solanas native stablecoin, you will also need Solanas native browser wallet Phantom.

In this article we will be using Solanas biggest DEX Raydium and Solans native wallet Phantom, neither of these you will be required to KYC for.

Head over to Raydium and open the app.

From the app home page click the “Connect Wallet” button in the top right hand corner.

A pop up will open asking you which wallet you would like to connect, we are using phantom so will select phantom.

You will now be prompted in your Phantom wallet to connect to Raydium. Click Connect.

For this you will need your USDC in your connected phantom wallet. To buy USDC you can do so through FTX following the above instructions except swap USD for USDC rather than SOL.

In the swapping box on Raydium select USDC for the top box and SOL for the bottom box, this will swap USDC for SOL.

In the USDC box enter the amount of USDC you would like to spend, in this example that will be $100.

You can now click swap. You will be prompted through a transaction confirmation within your Phantom wallet.

Congratulations, you have now swapped USDC for SOL through the decentralized exchange Raydium.

What is Solana?

Solana is a layer 1 blockchain built for its speed and user friendliness. Solana boasts transaction times of just a few seconds and transaction fees of just $0.001 per transaction, this makes it a great blockchain for users to use and places it at the forefront of mass adoption.

Solana also has a thriving NFT ecosystem due to the low transaction fees and fast transaction times. Solanas NFT ecosystem has even rivaled Ethereums in number of sales made and transactions in a day.

To learn more about Solana and its ecosystems check out my other articles here.

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