A Step-by-Step-Guide on how to buy Solana (SOL)
Step 1 – Signup to Coinbase and get 10$ for free You'll first need to buy one of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below for registration and to get your first $10.
Step 2 – Send Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Exchange Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Solana (SOL) is available on Binance, so we will use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Exchange? (Follow this guide) Make sure you've selected the right coin you wish to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. If you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow these easy steps).
Step 3 – Find Solana (SOL) Once your deposit has been confirmed, you will now have access to your finances and you can start purchasing and trading. To purchase Solana (SOL) on Binance, you will want to hover over the ”Exchange” tab and then click on “Basic”. To spot Solana (SOL), you will need to insert the shortname of the coin (SOL) into the search-box, which is marked in the graphic. Be certain of having selected the right pairing, we've marked this also. Click on “SOL/BTC” to go on.
Step 4 – Buy Solana (SOL) As soon as you have discovered Solana (SOL), you'll be given a Price Chart (in the Center of the picture) and some Order Books (on the Left of the picture). And now we're going to create our Limit Order. The ”Price” field will be filled with the most up-to-date rate Solana (SOL) was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the quantity of SOL you want to buy. The ”Total” field is the aggregated price in Bitcoin that you'll settle for the complete quantity of SOL. When you are happy, click on “Buy SOL”. Your order will be filled when a Vendor trades their SOL for the price you submitted.
Step 5 – Withdraw Solana (SOL) Unless you are trading, best advise is not to keep crypto on an Crypto Exchange for an extensive time frame. In order to take off your Solana (SOL), go to the tab called “Funds” and mouse click on “Withdraw”. Solana (SOL) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Solana (SOL) by using the given drop-down box. Put into the quantity of Solana (SOL) you would wish to take off. Take into account the demonstrated fees/minimums. Also make sure you have filled your right withdraw address. If you are satisfied, click “Submit”. You may be requested for verfication via phone/email ahead of a withdrawal.