Solana (SOL) has emerged as one of the most dynamic cryptocurrencies in the blockchain space, known for its lightning-fast transaction speeds, low fees, and growing ecosystem of decentralized applications. Whether you're new to crypto or expanding your portfolio, learning how to buy Solana is a smart step toward participating in the future of digital finance.
This comprehensive guide walks you through every step—from choosing the right exchange to securing your SOL—so you can invest confidently and safely in 2025.
Where to Buy Solana (SOL)?
When purchasing Solana, it's essential to choose a platform that offers security, strong liquidity, minimal slippage, and low fees. Two of the most trusted options are centralized exchanges (CEXs) like Binance and MEXC, each catering to different investor preferences.
Binance: The Leading Exchange for Buying Solana
Binance stands out as one of the world’s largest and most reliable crypto exchanges, operating in over 140 countries and processing more than 1.4 million transactions per second. This high throughput ensures fast order execution—even during volatile market conditions.
With a standard trading fee of just 0.1%, Binance is highly competitive. Users can further reduce fees to 0.075% by paying with Binance Coin (BNB). The platform supports multiple ways to buy Solana, including:
- Credit and debit cards
- Bank transfers
- Peer-to-peer (P2P) trading
- Third-party payment providers
Security is a top priority at Binance. Features like two-factor authentication (2FA), anti-phishing codes, withdrawal address whitelisting, and real-time monitoring help protect your account. Additionally, Binance backs user funds with its $1 billion SAFU (Secure Assets Fund for Users) insurance reserve.
👉 Discover how to start trading Solana securely today.
MEXC: Trade Solana Without KYC or Fees
If privacy is important to you, MEXC offers a compelling alternative. It allows users to trade Solana without completing KYC verification, making it ideal for those who value anonymity.
Despite no identity checks, MEXC maintains robust security protocols such as 2FA and anti-phishing protection. It also supports advanced features like:
- 100x leverage on Solana perpetual futures
- Copy trading functionality
- Access to new token launches via its launchpad
MEXC is frequently recognized as one of the best zero-fee exchanges, especially for spot trading—a major advantage for cost-conscious investors.
Step-by-Step: How to Buy Solana on a Centralized Exchange
Step 1: Choose Your Exchange
Selecting a reputable exchange is your first move. Binance, MEXC, Coinbase, and Crypto.com are all solid choices. For U.S. residents, platforms like Coinbase and Binance.US comply with local regulations and support USD deposits.
We’ll use Binance as an example due to its global availability and high SOL trading volume—nearly $1.7 billion in 24-hour volume—ensuring excellent liquidity.
Step 2: Create an Account and Complete Verification
Visit Binance’s official website or download the mobile app (available on iOS and Android). Click “Sign Up,” enter your email, and create a strong password.
Next, complete the KYC (Know Your Customer) process by submitting a government-issued ID—such as a passport or driver’s license—and sometimes proof of address. Verification typically takes a few hours but may take up to 48 hours during peak times.
Once verified, you gain access to higher withdrawal limits and all available deposit methods.
Step 3: Deposit Funds or Buy Directly
Binance offers several convenient ways to acquire Solana:
Buy Solana with a Credit or Debit Card
This is the fastest method for beginners. Go to the "Buy Crypto" section, select Credit/Debit Card, choose USD (or your local currency), and pick Solana (SOL).
Enter the amount you’d like to purchase. Binance will display the current market rate. Add your card details if it's your first time, then confirm the transaction. You’ll be redirected to your bank’s OTP page for verification.
SOL appears in your Spot Wallet within minutes. Note: There’s usually a ~1.8% processing fee for card purchases.
Use Apple Pay or Google Pay
Mobile users can speed up payments using Apple Pay or Google Pay. These options avoid manual card entry and integrate seamlessly with the Binance app.
Buy with USDT or Other Cryptocurrencies
If you already hold crypto, swap stablecoins like USDT or assets like BTC for SOL directly in the Convert or Trade section. These trades come with lower fees—typically around 0.1%, or even zero when using the Convert feature.
👉 Learn how to convert assets into Solana quickly and securely.
Step 4: Store Your Solana Safely
After buying SOL, decide whether to keep it on the exchange or move it to a personal wallet.
Keep SOL on Binance (For Active Traders)
Storing SOL in your Binance Spot Wallet makes sense if you plan to trade frequently, stake, or lend. With built-in protections like 2FA and the SAFU fund, it's relatively secure—but not immune to risks associated with centralized platforms.
Transfer SOL to a Personal Wallet (For Long-Term Holders)
For maximum security, transfer your SOL to an external wallet. Options include:
- Software wallets: Phantom, Solflare
- Hardware wallets: Ledger, Trezor
Hardware wallets are considered the gold standard because they store private keys offline.
To withdraw: Go to Wallet > Withdraw > Cryptocurrency, enter your wallet address, select the Solana network, and confirm. Be cautious—sending funds via the wrong network could result in permanent loss.
Buying Solana on Decentralized Exchanges (DEXs)
Decentralized exchanges let you trade directly from your wallet without registration or KYC. They offer greater privacy and control over your funds.
Raydium: Fast and Low-Cost Swaps on Solana
Raydium is a native DEX built on the Solana blockchain, known for its speed and minimal fees—often less than $0.01 per transaction.
To use Raydium:
- Install a compatible wallet like Phantom or Solflare
- Connect your wallet to raydium.io
- Navigate to “Swap”
- Select your input token (e.g., USDT) and output (SOL)
- Confirm the trade in your wallet
Your SOL arrives instantly in your connected wallet.
Jupiter: The Smart Liquidity Aggregator
Jupiter isn’t just a DEX—it’s a liquidity aggregator that scans multiple Solana-based DEXs (including Raydium) to find the best price for your trade.
Steps:
- Connect your Phantom or Solflare wallet
- Choose your input token and set SOL as output
- Jupiter automatically routes your swap through optimal pools
- Approve the transaction in your wallet
Thanks to Solana’s efficiency, trades settle in seconds with negligible fees.
How to Buy Solana Meme Coins Like BONK or WOOF?
Meme coins on Solana—such as BONK and WOOF—are typically only available on decentralized exchanges.
Here’s how to buy them:
- Set up a Solana wallet (e.g., Phantom)
- Buy SOL on a centralized exchange and transfer it to your wallet
- Connect your wallet to Raydium or Jupiter
- Swap SOL for the meme coin
- Verify the contract address carefully—scam tokens often mimic real ones
Always research projects before investing and never share your seed phrase.
How to Secure Your SOL Holdings?
Protecting your investment is just as important as buying it:
- ✅ Use a hardware wallet like Ledger for maximum security
- ✅ Enable two-factor authentication (2FA) on all accounts
- ✅ Write down your recovery phrase on paper and store it offline
- ✅ Double-check URLs when using DEXs to avoid phishing sites
Never click on suspicious links or approve unknown transactions in your wallet.
Frequently Asked Questions (FAQs)
How much does it cost to buy 1 Solana?
As of early 2025, the price of 1 SOL is approximately $188.70, though this fluctuates based on market demand. Always check live prices on trusted exchanges before purchasing.
Can I buy Solana without KYC?
Yes. Platforms like MEXC allow you to trade Solana without completing identity verification, offering greater privacy than traditional exchanges.
What is the best way to buy Solana?
For beginners, Binance is often the best choice due to its ease of use, wide payment options (including credit cards), and strong security infrastructure.
Are there fees when buying Solana?
Yes. Fees vary by method:
- Card purchases: ~1.8%
- Crypto-to-crypto trades: ~0.1%
- DEX swaps: Very low (~$0.01), plus minor network costs
How can U.S. residents buy Solana?
U.S. investors can use regulated platforms like Coinbase, Binance.US, or Crypto.com, which support USD deposits via ACH, card, or PayPal.
Is it safe to store SOL on an exchange?
While exchanges like Binance have strong security measures, storing large amounts long-term is riskier than using a personal wallet. For significant holdings, always consider transferring SOL to a hardware wallet.