A Step-by-Step-Guide on how to buy Solana (SOL)
Step 1 – Join Kraken In the beginning you'll need to purchase units of the bigger coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for Altcoins. Follow the Link below to register and receive Ethereum or Bitcoin.
Step 2 – Send Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Trader Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Solana (SOL) is obtainable on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this how-to) Make sure you have selected the correct coin you would like to deposit. BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are using a decentralized exchange, like Airswap or DDEX could be opposed (Follow our manual).
Step 3 – Locate Solana (SOL) As soon as your deposit has been affirmed, you will directly have access to your funds and you can start purchasing and trading. To invest in Solana (SOL) on Binance, you'll want to hover over the tab which is called “Exchange” and after that click on “Basic”. In order to find Solana (SOL), you will need to insert the short name of the asset (SOL) into the search box, which is highlighted in the image. Make sure you have selected the right pairing, we've highlighted this also. Click on “SOL/BTC” to advance.
Step 4 – Purchase Solana (SOL) As soon as you have located Solana (SOL), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). For now we are creating our own Limit Order. The field with the “Price” tag will be automatically filled with the most latest rate Solana (SOL) was traded for. This can be changed to your favoured rate. The ”Amount” field is the amount of SOL you want to buy. The ”Total” field is the whole price in BTC that you will settle for the complete amount of SOL. If you are satisfied, click on “Buy SOL”. Your order will be filled as soon as a Vendor trades their SOL for the price you submitted.
Step 5 – Withdraw Solana (SOL) Unless you're frequently trading, best advise is not to keep your crypto on an Exchange for an longer period of time. To withdraw your Solana (SOL), go to the ”Funds” tab and click on “Withdraw”. Solana (SOL) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Solana (SOL) by using the given drop-down box. Put into the quantity of Solana (SOL) you'd like to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your precise withdraw address. When you are satisfied, click on “Submit”. You may be requested for verfication via email/phone before a withdrawal.