Solana is a blockchain meant for developers who can build and deploy decentralized apps, NFT collections, blockchain games, metaverses and other products. At the best of times, the SOL coin reached the mark of $258,58. The network has really become one of the most wanted by developers for its features:
- The Solana network is based on the Proof-of-Stake mechanism, which means SOL coins are not mined (like Bitcoin and former Ethereum) but staked, which is much easier and affordable for any user.
- Staking is much more sustainable compared with mining, for it does not consume so much electrical power.
- Staking is much cheaper – no mining equipment needed – only access to the Internet.
- The Solana network performs 50 000 transactions a second.
- It is 20 times faster than the former Ethereum.
Why do we say “former”? Because the Ethereum network transitioned to the Proof-of-Stake consensus too. So you can buy Solana crypto and hold, trade it, or stake it. Staking is a much better option than just holding, for it brings you additional coins.
Where to buy, trade and stake SOL?
Where to Buy Crypto?
Use any crypto platform that has proved its reliability. For example, WhiteBIT. This centralized exchange is the best option to buy crypto online because it offers a high safety level for clients, cold storage of funds, low fees, and a wide range of trading tools. You can also pick among 40 lending programs to stake SOL coins and receive additional SOL in return. Every crypto lending plaid differentiates by its staking period and the asset staked. The longer the period of SOl locking, the more rewards you receive. We recommend starting with the shortest period and a minimum number of SOL coins to understand how it works. To learn more, go to the WhiteBIT blog and search for lending programs in the search bar.