How to buy Solana (SOL)?

Last updated:2023-11-01

The initial concept and framework for Solana were conceived in 2017, with the official token launch taking place in 2020. Solana aims to be a Layer-1 blockchain with a strong emphasis on scalability while maintaining security and decentralization.

Solana operates its blockchain network using a dual consensus mechanism, combining Proof of Stake (PoS) and Proof of History (PoH). With PoH, Solana's network nodes can generate timestamps locally, eliminating the need for communication with other nodes and thereby enhancing overall network efficiency.

SOL is the native token of Solana, with a total supply of 500 million. It serves various purposes, including transferring, trading, storing value, and paying blockchain usage fees. Solana employs a deflationary mechanism where all fees are paid in SOL and subsequently burned, reducing the total supply. This mechanism incentivizes more token holders to participate, thus enhancing security.

Purchase SOL Process

Step 1 - Create an LBank Account
Register or log in to your LBank account.
Step 2 - Choose your preferred way to purchase SOL

Buy SOL at market price or set a buying price you desire, with the most popular SOL currency pair, SOL/USDT.

>>Go to Spot Trading
Step 3 - Successful Purchase

Your purchased is now in your wallet.

If you haven't received your cryptocurrency, seek help from Support Center or Online customer service .

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Given the market nature of cryptocurrencies, the price of SOL is subject to high market risks and price fluctuations. We recommend that you understand the operation principles of digital assets and related risks before investing in digital assets. Other factors to consider when formulating a cryptocurrency investment strategy include your own experience level, financial condition, investment goals, and risk tolerance. It is also recommended to consult an independent financial advisor before purchasing cryptocurrency. The information provided is for reference only, and LBank does not guarantee its accuracy.