How to Buy Solana (SOL): Easy Guide for Beginners

Interested in adding Solana (SOL) tokens to your crypto portfolio? With multiple options available, including crypto exchanges and Web3 wallets, choosing the right platform to purchase SOL can be challenging. 

In this article, we’ll dig deeper into how to buy SOL on centralized and decentralized exchanges. We’ll also walk you through the key factors to consider before purchasing SOL. 

Where to Buy Solana (SOL) in 2025?

The best way to buy Solana is through a reputable centralized exchange such as Coinbase or Kraken, especially for beginners. For seasoned investors who prioritize enhanced privacy, anonymity, and automation, decentralized exchanges like PumpSwap and Raydium are better.

Centralized Exchanges (CEXs)

Centralized exchanges are online marketplaces that enable you to buy, sell, and trade cryptocurrencies. Owned and controlled by a single entity/organization, CEXs act as intermediaries between buyers and sellers. 

Most top-ranked CEXs support major cryptocurrencies, including Solana (SOL). They also allow you to trade Solana derivatives, stake SOL, and buy/sell Solana-based non-fungible tokens (NFTs). Additionally, they offer user-friendly interfaces, a wide selection of SOL pairs, competitive fee structures, and robust security measures. Some popular CEXs that you can consider for buying Solana (SOL) are Binance, Bybit, Coinbase, and Kraken.

Decentralized Exchanges (DEXs)

If you’re an advanced trader, you can use a decentralized exchange to buy SOL. They’re P2P platforms that enable you to trade cryptocurrencies by simply connecting a supported wallet.

These decentralized finance (DeFi) protocols are built on blockchain networks, such as Solana or Ethereum. They’re censorship-resistant, non-custodial, and no-KYC platforms, fostering greater privacy and anonymity. Most importantly, DEXs use smart contracts to automate P2P interactions. They can be broadly classified into automated market makers (AMMs), aggregators, and order books.

However, decentralized exchanges support only crypto-for-crypto conversions. Thus, you may find them unsuitable if you want to purchase Solana using fiat currencies like USD or EUR. Well-known DEXs you can explore for buying Solana are Meteora, Orca, and Manifest.

How to Buy Solana on a Centralized Exchange?

Step 1: Select a Crypto Exchange

Based on your preferences, shortlist multiple exchanges. Assess each platform by various parameters, especially reputation, products and services, fees, security, and ease of use. After thorough research, choose a secure platform that aligns with your investment objectives and needs.

Step 2: Sign up and complete KYC verification

Visit the official website of the chosen exchange or download its mobile application from the App/Google Play Store. Depending on the available sign-up options, create an account using your e-mail, phone number, Google ID, or Apple ID. Fill out basic details like name, location, etc., and set up a secure password. If you have a referral code, input the code in the “Invite code” field to get exclusive perks. 

Once registered, verify your identity by completing the know-your-customer (KYC) process. To do so, upload a government-authorized identity and address proof, such as a passport or driver’s license. You also need to submit a selfie to complete facial recognition. After the exchange reviews and approves your KYC documents, you’re ready to make your first purchase.

Step 3: Choose Your Payment Method

Buy Solana with a Debit Card

• Click on the “Buy Crypto” tab on the main menu. 
• Specify the fiat currency (e.g., EUR, GBP) and how much SOL you want to purchase in the “Spend” field. 
• Select SOL in the “Receive” field. The exchange’s mobile app or web interface automatically converts your fiat amount into equivalent Solana. 
• Choose the “Card” option in the payment method field. Some platforms may show credit and debit card options separately. 
• Click the “Add New Card” tab and enter your card details.
• Once done, execute the Solana purchase.

Buy Solana with a Credit Card

To purchase SOL using a credit card, follow the same process as with a debit card. The only difference is that you’ll select and enter credit card details instead. 

Buy Solana with Google Pay / PayPal / Apple Pay

All exchanges may not allow you to directly purchase Solana using PayPal, Google Pay, or Apple Pay across all locations. In that case, navigate to the exchange’s P2P marketplace. 

• Select the digital currency you want to buy (SOL in this case). 
• Specify the amount you want to spend in your local currency and select Google Pay, Apple Pay, or PayPal as the payment method. 
• Based on your pre-defined parameters, the platform will display suitable P2P traders. You may choose the trader who offers the best price. 

Buy Solana with Bank Transfer

• Select the “bank transfer” option from the “Payment Methods” dropdown menu on the screen or within the P2P platform. The app/exchange will display the list of supported banks in your jurisdiction. 
• Choose your bank. You’ll be redirected to the online banking portal to execute the bank transfer. 
• Confirm the transaction. The newly purchased Solana will instantly reflect in your exchange account. 
• For future transactions, save your bank details or link your bank account to the exchange.

Buy Solana with Other Cryptocurrencies

If you want to buy Solana (SOL) with other digital currencies, first fund your account by depositing fiat/crypto. Once your account has a sufficient balance, purchase Solana using any of the following techniques:

• Convert: This feature helps you buy Solana with minimal slippage and zero fees. 
  • Enter the cryptocurrency you want to swap for Solana in the “From” field. 
  • Choose “SOL” in the “To” field. The conversion rate between the two cryptocurrencies will be auto-calculated by the platform. 
  • Hit the “Convert” tab. 

• Spot trade: This feature enables you to trade assets like USDT, USDC, and Bitcoin for SOL in the spot market. 
  • Choose any supported pair, like SOL/USDT, SOL/USDC, and SOL/BTC. 
  • Adjust the margin mode and leverage ratio based on your risk-return appetite.
  • Click the “Buy” button.

Step 4:  Store Your Solana

Exchange Wallet

Exchange wallets are custodial wallets that hold users’ funds on their behalf. After you buy any crypto, the assets will immediately appear in your exchange wallet. From there, you can move your funds to a self-custody wallet, such as the Coinbase wallet. All hot wallets, including exchange wallets, are connected to the internet. They’re highly susceptible to cyber threats. Therefore, it is advisable to store your digital assets in cold wallets like Trezor or Ledger.

External Wallet

You can store SOL in external non-custodial wallets, which give you full control over your private keys and seed phrases. To do so, you must create a Solana-compatible wallet account. Next, you need to use the exchange’s withdraw/cash out feature to move your assets to the external wallet address. 

Phantom is the most popular Solana wallet that helps users bridge tokens across multiple chains seamlessly. You can easily download the Phantom app or browser extension on your desktops, laptops, or portable devices. 

Apart from facilitating the buying/selling of SOL, Phantom also allows you to open perpetual futures positions. The Phantom Cash feature enables you to earn passive income without locking up SOL. Moreover, you can trade prediction markets using any Solana token in your Phantom wallet. On the flip side, Phantom is also an online wallet. 

How to Buy Solana on a Decentralized Exchange?

1. Buy Solana on Raydium

Raydium is a reputable AMM and DEX built on the Solana blockchain. It leverages Solana’s low fees, high throughput, and blazing-fast speed to enable users to trade SOL through liquidity pools. It is also integrated with OpenBook’s order book to ensure competitive conversion rates. 

Additionally, Raydium facilitates yield farming and perpetual contract trading with a leverage of up to 100x. Through its LaunchLab, you can gain early access to new coins of promising projects.

To purchase SOL (Solana), connect a compatible wallet like Phantom/Solflare with an adequate balance. Select the coin you want to convert in the “From” field and choose “SOL” in the “To” field. Once done, hit the “Buy” button.

2. Buy Solana on Orca

Orca is another AMM-based DeFi protocol mounted on Solana. Like Raydium, it also facilitates coin swaps through liquidity pools and offers LaunchPad and staking services. Known for its user-friendly and efficient interface, Orca is a preferred platform among crypto communities for buying/selling Solana.

To buy Solana (SOL), link a Solana wallet, and specify the amount and the cryptocurrency you’ll use to pay. In the “Receive” field, choose SOL. The swap rate will be automatically computed by Orca based on the prevailing market conditions. 

3. Buy Solana on Jupiter

Jupiter is the biggest decentralized trading platform and DEX aggregator atop Solana. As it aggregates liquidity across 20+ DEXs, you can get competitive coin prices. It also splits large orders into smaller transactions across pools to minimize slippage and ensure users get optimal rates. 

Besides, it allows you to trade perpetual contracts and prediction markets. On top of that, Jupiter Lend, an advanced money market, lets you borrow as well as lend crypto loans. It supports multiple wallets, including Phantom and Coinbase.

If you want to buy Solana on this platform, enter the crypto you want to sell and the amount. Choose SOL in the “Buy” field to see the live exchange rate. Execute the purchase and receive SOL directly in your linked wallet. 

How to Buy Solana Meme coins?

1. Register on a CEX (e.g., Kraken) or DEX (e.g., Orca) that supports your preferred memecoin (e.g, Pippin).
2. If you choose a DEX, connect a compatible wallet and swap your crypto for the desired memecoins.
3. On a CEX, first complete identity verification.
4. Fund your exchange account by depositing fiat or crypto.
5. Buy the memecoin using the “Convert” feature or by executing a spot transaction.
6. For spot trades, select a suitable pair. For example, if you want to buy WIF (Dogwifhat) tokens with USD, choose the WIF/USD pair. In case you want to purchase using BTC, select the WIF/BTC pair.
7. Pay the necessary spot trading fees and complete the purchase. 
8. You can also buy memecoins directly from a Solana-compatible wallet like Phantom in a few taps. 

What to Consider Before Buying Solana?

• Market volatility: All blockchain-backed currencies, including Solana, are highly volatile. The Solana price reached an all-time-high of $293.91 in January 2025. Since then, it has dropped by approximately 58% to $123.15, as of December 23, 2025. Hence, never invest more than you can afford to lose. Use leverage prudently, not more than 5x if you’re a beginner.
• Network congestion and downtime: While Solana is a high-speed blockchain, it has faced prolonged outages multiple times between 2020-2024. Therefore, there are concerns surrounding the trustworthiness, stability, and sustainability of Solana in the long-run.
• Regulatory uncertainties: Crypto laws vary across locations. While countries like El Salvador have adopted Bitcoin as legal tender, others like China have banned digital currencies outright. Additionally, many exchanges are facing regulatory challenges in multiple regions. Thus, understand the legal implications of buying/selling Solana in your jurisdiction and always choose a compliant exchange. 
• Growth potential: The Solana network is home to over 264 dApps and more than 3,19,000 NFT collections. The ecosystem is also continually growing. Therefore, despite the risks stated above, SOL has a promising long-term growth potential. 
• Platform selection: Select a reputable and secure platform with robust safety measures like multi-factor authentication, proof-of-reserves, and cold storage for trading SOL. Choose exchanges with a wide coin selection, an intuitive interface, high volumes, and a large number of supported payment methods.

Conclusion

Regardless of the Solana ecosystem’s future outlook, the decision to trade SOL depends on your objectives, strategies, and risk tolerance. In general, diversify your financial portfolio by spreading your money across multiple asset classes to mitigate risks. For better clarity, you may seek investment advice from your professional portfolio manager or seasoned traders. Lastly, conduct your own research and apply due diligence before buying any digital asset.

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