The cryptocurrency market is developing very quickly. Statements about a new project, which will definitely surpass all existing ones in all respects, sound, if not every day, then quite often. Ambitious projects compete not with Bitcoin, which has taken its place very firmly, but with platforms like Ethereum.
Of course, every leader was once an unremarkable newcomer, but not every newcomer reaches the top. So far no one has succeeded in pushing back the patriarchs, but Solana's project continues to work in this direction.
The coin has become one of the stars of the 2021 altcoin season and has been in the TOP-10 most capitalized cryptocurrencies for quite some time. Against the backdrop of a general market decline in 2022, SOL fell in price by more than 90% and only at the beginning of 2023 began to grow again. Perhaps the current period is one of the best for buying coins for the long term, but do not rush to change your entire supply of USDC to SOL. Do your own market research first.
What's special about Solana
Solana is a marketplace for DeFi solutions that supports smart contracts and decentralized applications. For settlements within the system, Solana's own coin of the same name (SOL) is used. It serves to pay fees on the network, create decentralized applications, and maintain smart contracts.
The key difference between Solan is the fantastic speed of work. The developers claim that the throughput of the platform can reach 710,000 transactions per second, although so far the real achievements are much more modest - it has not yet been possible to exceed 60,000 transactions per second.
However, this is also an impressive speed. Not the last role in achieving such results belongs to the hybrid PoS consensus algorithm - PoH. The solution used in Solana is PoS with added PoH (Proof-of-History), which is unprecedented and the first of its kind. If we simplify the essence of what is happening to the maximum, it’s just the time of its completion that works to confirm the transaction.
Where to buy Solana?
2023 is off to an exciting start. The optimistic Solana price prediction in light of recent events looks more realistic than six months ago and the coin is attracting attention. SOL is widely represented on cryptocurrency exchanges and fast exchange services.
1. Binance
In terms of trading volumes, this asset is the leader of the largest and most populous crypto exchange Binance. Deposit replenishment is possible in cryptocurrency and fiat, and more than 30 sovereign currencies are supported. More than 350 cryptocurrencies are traded on the platform, there is spot, margin, and futures trading. For SOL fans, there is another significant plus: SOL staking is available among the tools for passive income.
Of the minuses - mandatory account verification.
2. Bybit
This platform is the best cryptocurrency exchange for futures trading, which serves users from more than 200 countries. The client's assets are stored in "cold wallets". On the exchange, you can make transactions with 256 cryptocurrencies.
Fiat support is limited to just 3 currencies. The main types of trading are available, a large selection of ways to passively earn money is presented. Verification is not required.
3. KuCoin
The KuCoin exchange has been operating for more than 8 years and has proven itself from the best side. It is highly secure and has a wide range of available features. The platform is open to users from 207 countries. It occupies one of the first places in terms of the number of supported moments, there are more than 700 of them.
There is also a futures market and a large selection of products for passive income. More than 30 fiat currencies are supported, but some of them have high deposit fees.
4. Coinbase
Coinbase has been operating since 2012 and has established itself as one of the most trusted exchanges. However, the functionality is very limited: this is largely due to the requirements of US law. The site does not support futures and margin trading, staking is available only to users from the United States.
Verification is not required, which is a plus, but not all functions of the exchange are available to anonymous clients. Strict geographic restrictions apply and verification may not be possible for all users.
More than 200 coins are traded on the platform, and its own USDC stablecoin operates. Since the functionality is not very rich, the interface is very simple and understandable.
5. LetsExchange
If you do not plan active trading and your goal is to buy coins for long-term storage, the LetsExchange service can be a worthy alternative to classic exchanges. The platform works completely anonymously, you can buy coins even without registration.
The whole process is done in a few clicks, the coins are credited to your offline wallet. In total, more than 2,000 coins and tokens are available for purchase and sale.
