Solana is a young crypto project developed with the desire to solve all the current problems that the Ethereum blockchain has, it is:
- Overloaded network
- High transaction fees
- Low throughput.
The Ethereum blockchain is the basis for hundreds of decentralised applications that are developed and deployed on top of it. These are DeFi products and games. Due to the huge load on the network, transaction fees have increased, and the network runs slower. Solana, which offered much better conditions to dApp developers, has gained immense popularity, and many new products are now being built on this blockchain (games, Metaverse, etc.).
SOL is the native token of the Solana platform. The current price of SOL to USDT is $29.2 (mid-October 2022). Within the Solana network, SOL serves as a currency for transaction fees and staking. SOL crypto buy options vary for long-term investment or for day trading; depending on the reason they buy SOL, their choice of the wallet also varies.
SOL Wallet
If you want to buy SOL coins and use them for trading large amounts, you need a convenient hot wallet that you can access at any time and trade quickly. Trading requires quick reactions to market fluctuations, instant decisions and a high-quality trading platform. We recommend that you try the WhiteBIT exchange for trading SOL. It offers a wallet that keeps your currencies safe and gives you instant access when you need to make a transaction, swap SOL for any other coin or even convert SOL to USD and withdraw money to your card.
If you want to buy SOL and hold it until the price goes up, we recommend using a cold wallet. It can be any USB device or ledger that connects to the internet when needed. You can put coins in it and keep it in a safe place. When the time comes, connect the device to your laptop and withdraw your coins with profit.
The SOL crypto prospects are bright – experts predict SOL/USDT rate to exceed $700 in the next few years when the market trend changes for bullish. So SOL crypto buy definitely worth it as long as its price is relatively low.
