Solana is a popular platform that was developed with the thought to provide a high-quality network for decentralized applications deployment. Solana solves the current Ethereum blockchain’s problems:
- low throughput because of the network overloading;
- high transaction fees.
Hundreds of dApps developers have already noticed Solana’s advantages, building more and more DeFi products, metaverses, and games on the top of this blockchain.
SOL is a native token of the Solana network. It serves for payment of transaction fees within the blockchain and staking. Solana has a Proof-of-Stake consensus mechanism at the core, which means the coins are received through staking, not mining. It is much less costly, does not require expensive equipment and electricity expenses, and moreover, it is an environmentally friendly option.
To check out the SOL coin price in dollars, we can look at the SOL USDT traded pair. As of mid-September 2022, it is $33,06.
Is SOL Coin a Good Investment?
We should evaluate the project’s prospects to assess if SOL is a good investment. Considering how many developers pick Solana for their product deployment, we dare to say that SOL is an up-and-coming coin with all the chances to boost in the future. However, every time you buy crypto, you should remember that it bears risk, so do your own research before purchasing crypto coins.
Where to Buy SOL?
If you decide to buy SOL, welcome to WhiteBIT. It is the largest crypto exchange in Europe, operating legally and complying with all the laws in this field. WhiteBIT supports over 400 crypto pairs and allows for trading with fiat currencies, for example, SOL USD. To buy crypto with fiat, you must register and verify an account. It takes a few days for the platform to check your profile and ensure that you do not have any criminal intentions. Then you access all the exchange features, including fiat pairs, unlimited withdrawals, and many more trading options.