Buy Solana (SOL)

Follow the steps below to easily and securely buy Solana.

You can securely store your Solana in your Finst wallet. Some cryptocurrencies also support external wallets, allowing you to send your crypto to your own wallet if desired. We use state-of-the-art security measures to keep you and your crypto safe.

We work with Fireblocks, one of the most trusted crypto security infrastructure providers, to safely store your Solana. They make use of Multi-Party Computation (MPC) technology which is an advanced cryptographic technology used to protect your digital assets.

Additionally, Finst is the first and only Dutch crypto platform that has successfully conducted an extensive Proof of Reserves (PoR) audit. With Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

Yes, at Finst, you can easily buy Solana with iDEAL. We also support popular payment methods like SEPA and Bancontact.

At Finst, you can start investing in Solana with as little as €1. For many coins, it is not necessary to buy a whole coin.

Yes, it is safe to buy Solana through Finst. We are registered as a Crypto Service Provider (no. R189158) with the Dutch Central Bank (DNB), and we are the first and only Dutch crypto platform that successfully obtained a Proof of Reserves (PoR) from an independent and reputable audit firm (Audit Now). At Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

Yes, buying Solana is legal in Europe. However, we advise you to do your own research before making a purchase.

Investing in cryptocurrencies like Solana involves risks of losses. You can lose (part of) your deposit. Before you decide to buy Solana, it is important to understand the risks.

Volatility: The price of Solana can fluctuate significantly. This means that its value can rise and fall quickly.

No guaranteed profit: Previous price increases do not guarantee future returns. Therefore, only invest money that you can afford to lose.

External factors: The price of Solana is influenced by external factors, such as economic conditions and the actions of influential individuals, governments, and institutions. These factors can have a positive or negative impact on the price.

When you buy Solana through Finst, you benefit from the most competitive trading fees of 0,15% per transaction.

Any fees you may encounter when trading crypto are clearly shown for every transaction on our platform.

It's important to note that network fees are outside of our control, as they are determined by the blockchain networks themselves.

This means that while network fees may vary depending on the blockchain and current demand, our trading fee remains consistent, helping you better manage your transaction costs.

No, due to laws and regulations, it is not possible to buy Solana or other cryptocurrencies anonymously on a regulated crypto platform in Europe.

Yes, you can send your Solana to an external wallet. With Finst, you can easily send your Solana to a hardware or a software wallet.

Yes, you can store Solana (SOL) on hardware wallets such as Ledger or Trezor.

Yes, at Finst, you can stake SOL and earn passive income on your coins while contributing to the security of the network.

Solana is a blockchain designed to enable fast and low-cost transactions. Unlike other blockchains, such as Ethereum, Solana uses a unique protocol called Proof-of-History to process transactions more efficiently. This makes Solana one of the most scalable networks in the crypto world. This is also one of the reasons why many people have called it the 'Ethereum killer' in recent years. However, Ethereum remains the larger network in terms of market capitalization. But in terms of daily transactions, Solana is far ahead of Ethereum.

The native cryptocurrency of this network is called Solana (SOL). You can buy Solana to invest, but also to participate in the ecosystem, such as executing smart contracts and paying transaction fees.

Solana combines various innovative technologies to massively increase transactions per second. It uses Proof-of-History and Proof-of-Stake as a consensus mechanism, keeping the network reliable and efficient. This allows Solana to process more than 65,000 transactions per second, far more than traditional blockchains like Ethereum.

Thanks to this speed and low cost, Solana's adoption is growing rapidly, making it one of the largest coins on the market.

Solana Ecosystem

Due to its growing popularity, the Solana ecosystem has expanded significantly in recent years. Some platforms on the Solana network:

- DeFi: On DeFi platforms like Orca and Raydium, you can trade tokens on the Solana network.

- Lending: At Solend, Francium, and Port Finance, you can provide crypto loans.

- NFT: Platforms like Solsea, Magic Eden, and Exchange.art allow you to trade non-fungible tokens (NFTs).

- Web3.0: Audius, Panzer Dogs, and Phantasia are part of the next generation of the 'new internet,' Web3.0.

- dApps: Decentralized applications (dApps) on the network include Tatum, StarLaunch, and Kin.

In 2017, Anatoly Yakovenko, Greg Fitzgerald, and Raj Gokal launched the Solana blockchain. They noticed that predecessors like Bitcoin and Ethereum had one major issue: the networks were not scalable enough, which made transaction fees very high. Additionally, both blockchains were slow in processing transactions. Their solution: a network that uses a new consensus algorithm that is incredibly fast, cheap, and scalable—Proof-of-History (PoH).

Proof-of-History (PoH) is an innovative consensus mechanism developed by Solana to improve the efficiency and scalability of blockchain networks. Unlike traditional methods like Proof-of-Work (PoW) and Proof-of-Stake (PoS), PoH introduces a unique way to record the order and timing of transactions without relying on external time sources.

In many blockchain networks, determining the order and time of transactions is a challenge. Traditional consensus mechanisms often require nodes to constantly communicate with each other to agree on transaction timing and order, which can lead to delays and limited scalability.

How does Proof-of-History work?

PoH is essentially a type of decentralized clock that provides cryptographic proof of certain events on the blockchain. It uses a Verifiable Delay Function (VDF), which takes a specific amount of time to compute but is easy to verify. Each transaction on the network receives a unique timestamp, creating an immutable record. This allows the network to confirm the order of transactions without requiring continuous communication between nodes.

Advantages of Proof-of-History (PoH):

- Scalability: Because PoH reduces the need for constant communication between nodes, transactions can be processed faster, making it highly scalable.

- Efficiency: With a built-in timestamp for each transaction, validators can process transactions in the correct order without waiting for confirmation from other nodes.

- Security: Cryptographic timestamps make it difficult for hackers to manipulate transactions, ensuring high security.

Integration with Other Mechanisms

Solana combines PoH with other consensus mechanisms, such as Proof-of-Stake (PoS) and Tower BFT, to create a robust and secure network. This combination ensures a balance between speed, security, and decentralization.

The Solana network is known for its high speed and low costs. Here are some fun facts:

- More than 65,000 transactions per second.

- Average transaction fees of just $0.00025.

- Support for smart contracts and numerous DeFi projects.

- A growing ecosystem with tens of thousands of projects and coins.

Thanks to these features, Solana continues to attract more investors and developers.

Solana has become the go-to blockchain for meme coins. Every day, hundreds (sometimes thousands) of new coins are launched on this network. Notable examples include Trump Coin and Melania Coin, both running on the Solana network. Thanks to its low costs and high speed, Solana is ideal for these types of projects.

The Solana Foundation is a non-profit organization that supports and develops the Solana network. They work on improving scalability, decentralization, and overall network security.

At Finst, you can buy Solana easily and securely. You benefit from low transaction costs, fast processing, and the option to send your Solana to your personal wallet. We also support staking and crypto bundles.

- Quickly and easily buy Solana via iDEAL or SEPA.

- Securely store Solana at Finst or send it to your own wallet.

- Invest from just €1.

- A platform with Proof-of-Reserves and advanced security.