Investing in the cryptocurrency market can be challenging, considering that there are plenty of assets to choose from. Solana (SOL) is a considerable choice for beginner investors since it is one of the most popular crypto assets by market capitalisation. Moreover, the token trades at a lower price than popular cryptocurrencies like Bitcoin and Ethereum.
Below, we guide you on how to efficiently buy Solana and shed light on some of the best brokers to consider for investing. Plus, we share a live chart indicating the asset’s current value so you can easily strategise and make the best trading decisions.
In this guide
Top 3 Brokers for Buying Solana
Buying Solana is a pretty straightforward process if you are well-versed in how the cryptocurrency market works. If you are a newbie in this industry, you need a cryptocurrency broker to complete your purchase and take full ownership of the asset. The best element about using cryptocurrency brokers to purchase Solana is that they also allow you to invest in Solana shares. Moreover, you can trade the asset as CFDs, whereby you only speculate on its price movements to benefit from the difference.
Note that many brokers are entering the financial space with the growing popularity of cryptocurrency trading. This has left traders and investors spoilt for choice, with the majority making the wrong selection. Since the research procedure to find a suitable crypto broker can be overwhelming, we did all the legwork and recommend below the top three brokers for buying Solana. Remember, they have varying features. So ensure you compare them before choosing one suitable for your investment needs.
1. eToro
Beginner investors looking to try their luck with Solana investment will enjoy eToro’s user-friendly and intuitive design platform. eToro has an in-built crypto wallet for securing your asset once purchased, thus saving you the hassle of considering external options.
eToro ensures users enjoy their experience by offering quality research and skills development resources. Besides its learning Academy, newbies will benefit from eToro’s highly-rated social and copy trading platforms. However, you will need extra money to access the copy trading platform so ensure you confirm whether the requirements suit your needs. Most importantly, eToro hosts additional cryptos and assets like forex, commodities, stocks, etc., for portfolio diversification.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
✔Low minimum to fund an account and begin investing
- Low minimum deposit requirement of $100 to buy or trade Solana
- No deposit fees*
- Offers a £100,000 virtually funded risk-free demo account to gauge your skill level before investing real money
- Supports multiple payment options
- High Solana trading fees
- Withdrawal charges apply
*A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
2. Plus500
Plus500 has made a name for itself not only in the UK market but globally. With it, you can only trade Solana as CFD and enjoy the leverage of up to 1:5. Plus500 also list additional assets to explore, including more cryptos, shares, forex, commodities, etc. All you have to do is sign up for a trading account on Plus500’s website and deposit at least £100 to get started.
Like eToro above, Plus500 has a trading app that enables you to manage your Solana trades on the go. You can also take advantage of its demo account to test whether the broker suits your needs before investing real money. The best element about Plus500 is that it offers commission-free Solana trading and the spreads you incur are also low. On top of that, all transactions are free but expect an inactivity fee if you fail to log into your account for three months.
✔ Regulated in many countries
- Low minimum deposit requirement
- Commission-free trades
- User-friendly platform for newbies with zero experience
- Low spreads
- Inactivity fee kicks in after only three months of being inactive
- Limited advanced resources for expert traders
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
3. CMC Markets
CMC Markets is a pioneer cryptocurrency broker featuring Solana and additional +10,000 instruments for trading. It is a CFD broker, meaning you cannot use it to buy Solana but trade the asset by speculating on its price movements. The broker is user-friendly and has a modern design platform for maximum experience. Plus, there is no minimum deposit requirement, meaning you can get started trading Solana with any amount you can afford.
CMC Markets is also affordable since it charges low commissions and spreads for trading Solana as CFDs or spread betting. Furthermore, all transactions are free, and its inactivity fee kicks in after 12 months of the account’s inactivity. The best part is that traders get to enjoy plenty of quality resources for market analysis and skills development. That being said, feel free to test it via its demo account to decide whether it suits your trading requirements.
✔ Great selection of assets
- Zero minimum deposit requirement
- Low spreads for trading Solana and other cryptocurrencies
- Free transactions when making deposits and withdrawals
- Plenty of learning and research tools
- Its advanced research materials may inconvenience newbies
- Overnight holding costs apply
How to Buy* Solana With eToro
The above cryptocurrency brokers for buying Solana are highly encrypted and regulated by top-tier authorities, including the Financial Conduct Authority (FCA). Below, we help newbies learn how to buy Solana using brokers in the UK. However, we use eToro as an example to ensure you are fully prepared and ready to invest.
You need an investment account with eToro to efficiently buy or trade Solana. For this reason, visit the etoro’s website* to create an account using your personal details. We help you gain quick access to eToro’s website by sharing links on this page to click. Remember, do not start the registration procedure without understanding the broker’s terms and conditions. Also, if you are always on the move, eToro has a trading app to download from Google Play or the App Store and trade on the go.
*{etoroCFDrisk}% of retail CFD accounts lose money.
Once you are confident that eToro is the right cryptocurrency broker, start registering for an investment account. In this procedure, you will share your personal details, including your full name, email address, location, phone number, source of income, etc. Note that your account will be verified once you have completed this procedure. Therefore, ensure all the information you provide is accurate. Also, members must create usernames and passwords to help secure their accounts and investment activities.
As one of the FCA-regulated brokers, eToro will require that you verify your identity and location before fully activating your account. This protocol was set by the FCA to ensure all trading platforms are safe from fraudsters. Therefore, to verify your identity, eToro will require that you share a copy of your original identification card, passport, or driver’s license. In addition, you will share a copy of a recent utility bill or bank statement to verify your location.
The copies of the documents you submit to eToro will be reviewed before having your account activated. Once you receive an email notification regarding your account activation status, you will make a deposit to access Solana and buy. Note that eToro’s minimum deposit requirement is $100, and there are no deposit fees. Also, you can transact using various payment methods, including e-wallets, bank transfers, or debit cards.
eToro will confirm your deposit and automatically redirect you to its listed cryptocurrencies to buy Solana. Remember, you can also try other assets and diversify your portfolio to mitigate the massive losses that come with a single investment. Also, note that eToro allows you to trade Solana as CFD, whereby you can speculate on the asset’s price movements without taking full ownership.
Whichever way you invest in Solana, ensure you are familiar with how it works and conduct a thorough analysis for the best strategy. This way, you get to enjoy your experience and boost your profit potential. For investors purchasing the cryptocurrency, ensure you own a crypto wallet to secure the asset.
*Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Tips on How to Choose the Best Broker to Buy Solana
When engaging with cryptocurrencies, it’s crucial to recognise that these digital assets are characterised by their extreme volatility and speculative nature. This can result in swift and substantial price fluctuations. To safeguard your crypto holdings, it is imperative to utilise reputable wallets and exchanges, prioritising the security of your investments.
Also, exercise vigilance and due diligence to guard against crypto-related scams and fraudulent schemes that can potentially threaten your financial well-being. You can also spread your investments across multiple digital tokens and avoid making decisions based on emotions.
Solana is one of the most popular cryptocurrencies in the UK and globally, and many investors want to put their money in the asset. However, with many crypto brokers to choose from, most investors find themselves with the wrong choice that inconveniences their experience and potential.
Above, we recommend the top three cryptocurrency brokers to choose from and buy Solana. However, should they not suit your needs or you decide to overlook our recommendations, here are essential elements to consider to find the best broker to buy Solana.
Security is an essential element to look into when searching for the best broker for buying Solana. The last thing you want is to fall into the hands of fraudsters and lose your hard-earned money without buying Solana. In this regard, you must settle for a broker that is licensed and regulated by the FCA. Using such Solana brokers is legal, and you can take legal action against them in case of conflicts. Moreover, FCA-regulated brokers offer the best investment conditions for a worthwhile experience.
Since your goal is to buy Solana, ensure you find a cryptocurrency broker that lists the asset. Also, consider one that allows you to trade the asset as CFD and lists additional assets for portfolio diversification. As a new investor, trying new markets will enable you to identify where your strength lies, thus maximising your profit potential in the financial space.
A reliable Solana broker is all you need to trade efficiently while enjoying your experience. Therefore, find a broker with a user-friendly and intuitive design platform. It should also execute trades fast, so you can take advantage of any potentially profitable opportunity. Most importantly, the broker must host quality learning and research materials for strategy and skills development. If you are always on the move, consider a broker with a trading app to manage your positions on the go.
We usually advise investors to have an investment budget to avoid spending a lot of money. With a budget, you can easily find a Bitcoin broker that you can afford. Confirm the minimum deposit requirements and charges, including commissions, spreads, inactivity fees, overnight charges, transaction costs, etc.
As a newbie, do not dive straight into buying Solana without fully understanding the broker you are investing with. To confirm all the above elements, consider choosing a broker with a demo account that is risk-free and loaded with virtual funds. A demo account is also a perfect place to gauge your skill level before deciding the right time to buy Solana using your hard-earned money.
Although the best Solana broker should meet all your investment needs, investors must consider reviewing current and previous users’ testimonials before making a final decision. Users’ comments on Google Play, the App Store, or Trustpilot make it easy to understand a broker’s strengths and weaknesses. Therefore, sample as many comments as possible to make the best investment decision.
Solana Price Today
Solana’s price is always fluctuating with demand and supply. It is a volatile asset, so you must stay abreast with its current value to identify the best entry and exit points in your investment. Below, we share a live chart indicating Solana’s current price so you can easily strategise. You can also take advantage of the chart to analyse its historical value and make the best predictions regarding its future performance.
About Solana
Solana was Launched in 2019 by Anatoly Yakovenko to solve the scalability issues Bitcoin and Ethereum had. As a blockchain network, Solana manages to process thousands of transactions per second, making it more appealing to users. In addition, the network is cheaper, and we are hopeful that this will make it even more competitive against centralised payment processors in the coming years.
Besides offering a superior transaction network that could one day surpass Ethereum when it comes to global adoption and market capitalisation, Solana has its own native crypto token. You can purchase or trade the cryptocurrency using a credible crypto broker or crypto exchange that lists the asset under the ticker SOL.
Overall, Solana has numerous projects, including non-fungible tokens (NFTs), smart contracts, and decentralised app developments (dApps). Its NFT project lists millions of NFT tokens you can use to diversify your portfolio.
FAQs
You can buy a Solan token from a cryptocurrency broker or exchange that lists the asset. Above, we recommend the top three crypto brokers for buying and trading Solana as CFD. However, ensure you choose the best for your investment or trading needs to enjoy your experience.
Yes. Every broker listing Solana has trading or investment charges you must pay when buying or trading Solana. So, while finding the best broker, ensure all the fees and requirements fit your budget.
Yes. According to information on its website, Solana NFTs have gas fees paid for minting. The fees are low, making it an attractive investment for low-budget NFT investors.
The first step regarding investing in Solana is learning the asset and how the crypto market works. You also need the best broker and identify how you want to invest in the asset, whether by purchasing and taking full ownership, investing in its NFTs, or trading Solana as CFDs. Most importantly, have a plan and budget for a worthwhile experience.
Yes. We believe Solana is a good investment since many investors earn good profits from the asset. However, you must be willing to learn the crypto market and conduct thorough market research for maximum potential. In our guide above, we share a live chart to help you with strategising, thus making the best investment decisions.
Solana is a blockchain platform hosting decentralised, scalable applications. It is one of the networks with high speed, processing transactions within seconds at a lower fee. Besides offering a crypto token, Solana also has an NFT platform that lists various collectables to explore, buy or sell.
Conclusion
Solana has many benefits in the financial market, from offering a high-speed transaction network to having one of the most popular cryptocurrencies (SOL). So, if you were sceptical about investing in the Solana token, we hope you have cleared all your doubts and are ready to make the first move. Remember, take your time to learn how the cryptocurrency market operates before starting your investment venture. Also, conduct thorough market research for solid strategies to maximise your experience and potential.
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25,000 hours of testing 70+ brokers. Our recommended broker is Pepperstone.
Our recommended broker is Pepperstone.