The variety of assets offered in the cryptocurrency market may confuse a beginner investor. The easiest way to guess a good investment option is to pick among the top-traded cryptocurrencies on the Coinmarketcap ranking. Today, we would like to discuss an incredibly popular SOL crypto.
Solana is a popular platform developed to provide a high-quality network for decentralised applications deployment that solves the problems of the current Ethereum blockchain:
- Low throughput explained by the network congestion.
- High transaction commissions.
Hundreds of dApps developers have already realised the benefits of Solana and are building more and more DeFi products, metaverses and games on this blockchain.
What is SOL Coin?
SOL is the native token of the Solana network. You can buy SOL on all popular crypto exchanges. The coin is used in transaction payments that are conducted on the blockchain. Solana has a Proof-of-Stake consensus mechanism at its core, meaning that coins are obtained through staking rather than mining. Staking is much cheaper, requires no expensive equipment or huge electricity costs and is even an environmentally friendly option.
To check the price of the SOL coin in US dollars, just look at the SOL USDT trading pair, which is $27.81 as of mid-October 2022.
To assess whether SOL is a good investment, one has to evaluate the prospects of the project. Considering that many developers have chosen Solana for product deployment, we dare say that SOL is an emerging coin that has the potential to thrive in the future. Experts claim the SOL price will reach $43 in 2023. However, it is important to keep in mind that buying cryptocurrencies always carries risks.
Where Buy SOL Coin?
If you want to buy SOL, a good option is WhiteBIT – the largest cryptocurrency exchange in Europe, legally functioning under European jurisdiction. You should register and verify your account to buy cryptocurrencies with real money on your bank card. It takes a few days for the platform to verify your profile and make sure you have no unlawful intentions. That is a normal procedure throughout all large centralised crypto platforms.