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LearnCrypto 101

Where and how to buy Solana (SOL)

Jonathan G.
Where and how to buy Solana (SOL)

    Solana has rapidly gained popularity as one of the leading blockchain platforms, known for its high-speed, low transaction costs, and silly memecoins.

    So, we thought we'd give you an in-depth guide on where to buy, sell, and trade Solana (SOL), covering various options including centralized exchanges (CEXs), brokerage platforms, decentralized exchanges (DEXs), and more.

    Whether you're looking for ease of use, low fees, or advanced trading features, this guide offers valuable insights to help you find the best platform for your Solana (SOL) trades.

    Now, let’s dive in.

    Where can I buy Solana (SOL)?

    If you're looking to buy, sell, trade, and/or store SOL—the native token of the Solana network—you can take advantage of multiple options.

    The most popular ones, however, are centralized exchanges (CEXs) and decentralized exchanges (DEXs).

    Centralized exchanges (CEXs)

    If you don't have a Solana wallet such as Phantom yet, the best place to trade SOL is either on conventional platforms, such as Robinhood, Revolut, or eToro, or CEXs, such as Binance, Coinbase, or Kraken.

    • Binance is one of the biggest and most popular cryptocurrency exchanges globally. It offers a wide variety of cryptocurrencies, including Solana (SOL). Users can trade SOL against several fiat currencies (like USD, EUR) and other cryptocurrencies (like BTC, ETH).
    • Coinbase is a US-regulated exchange renowned for its ease of use, making it an excellent choice for beginners. The platform also supports SOL trading and provides a secure environment for buying, selling, and storing cryptocurrencies.
    • Kraken is another well-regarded exchange. Known for its security and comprehensive features, Kraken supports the trading of various cryptocurrencies, such as SOL, and has a user-friendly interface. Generally, the platform is suitable for both beginners and experienced traders.

    Decentralized exchanges (DEXs)

    If you have a crypto wallet, decentralized exchanges (DEXs), such as Raydium, Orca, and Jupiter, enable you to buy, sell, and trade Solana (SOL) as well.

    • Raydium is one of the most popular Solana-native DEXs. It uses an automated market maker (AMM) model to facilitate trading. Apart from its fast and low-cost trading, it also offers yield farming opportunities for SOL and other Solana tokens.
    • Similar to Raydium, Orca is an AMM-based DEX as well, designed for simplicity and efficiency. The platform offers a straightforward interface for swapping tokens, providing liquidity, and yield farming.
    • As an aggregator, Jupiter pools liquidity from various Solana DEXs, such as Raydium and Orca, which ensures trading efficiency as well as optimal swap rates and minimal slippage for users. The result? The most competitive prices in the Solana ecosystem.

    Having said that, the easiest and fastest way to buy, sell, trade, and store SOL is with Phantom—more on this below.

    How can I buy, sell, and trade Solana (SOL) with Phantom?

    If you don't have a crypto wallet, here’s how to get started in less than five minutes.

    • First, download Phantom. Then, create a new wallet.
    • As soon as your wallet is set up, and you access it for the first time, you’ll be welcomed by a screen with two options:
      • Buy crypto
      • Transfer crypto
    • Select “Buy Crypto” then “Solana (SOL)”
    • Insert the amount of SOL you want to buy
    • Select “Next”
    • Choose your funding option: MoonPay, Coinbase Pay, etc.
    • Finalize your order

    Once you’ve completed your purchase, your SOL will appear in your wallet.

    From there, you can swap into other tokens within the ecosystem. But before you do, take a moment to read our Solana tokens guide to learn all about them.

    How to bridge tokens to Solana with Phantom?

    If you already have a crypto wallet but this is your first time using Solana, you might have most of your assets on other blockchains, such as Ethereum and Polygon. With our Cross-Chain Swapper, you can bridge tokens across Ethereum, Solana, and Polygon right in your Phantom wallet.

    Here’s how:

    For more on how to bridge to Solana, read our ETH to SOL bridging guide.

    Disclaimer: This guide is strictly for educational purposes only and doesn’t constitute financial or legal advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.