Buy Solana

Solana is a high-speed, high-throughput blockchain that powers decentralized apps (dApps) and the rapidly growing DeFi ecosystem. The Solana native token, SOL, is a versatile asset that can be held, traded, staked, or spent via your Ledger Wallet app. On this page, you’ll learn everything you need to know about buying Solana, as well as how to securely use, hold, and protect your SOL, with an emphasis on keeping your crypto safe by signing transactions with a Ledger hardware wallet.

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What is Solana (SOL)?

Solana (SOL) is the high-performance, open-source blockchain project created by Anatoly Yakovenko and governed by the Solana Foundation. Its main purpose is to scale decentralized technology by solving the traditional throughput limitations seen in other blockchains.

Solana achieves its massive speed and low cost through an innovative dual-consensus mechanism:

Proof-of-Stake (PoS): Used for standard Solana validation and security.
Proof-of-History (PoH): A unique time-keeping mechanism that enables thousands of transactions to be processed every second.

This combination allows Solana to process transactions at a speed that significantly outperforms older chains, all while maintaining extremely low average transaction fees (fractions of a cent, approximately $0.00026). The growing Solana ecosystem hosts a diverse range of DeFi protocols and NFTs. All of these decentralized activities are powered by SOL and other Solana tokens, making the SOL asset highly versatile for crypto enthusiasts.

Want to know more about keeping your SOL secure? Learn about the best way to manage it with a Solana wallet.

Is Solana (SOL) a good investment?

The Solana blockchain is more than just a place to trade SOL tokens; it’s a digital Solana ecosystem built for scale and speed. It offers a new system where you, the user, can make your own moves and participate in a rapidly growing network.
Here’s why Solana stands out to many investors and Web3 participants:

True Ownership & Decentralization

Unlike traditional financial systems, owning SOL gives you access to the Solana network’s governance structure and the ability to earn rewards by staking your tokens. The Solana blockchain is governed by a community of validators, ensuring you have true control over your funds and a say in the network’s future.

Borderless

The Solana blockchain is truly borderless. Whether you are seeking high-speed DeFi in the United States or trading NFTs in Asia, the Solana ecosystem is open to anyone globally, helping to bring the world closer together with fast, seamless transactions.

Open and Inclusive

Solana is maintained by a decentralized community, not a single government or institution. The Solana blockchain is transparent, with all transaction records made publicly available. Most importantly, anyone can join and participate.

Fast

Solana’s innovative PoH/PoS design allows it to process thousands of transactions per second with confirmation times measured in mere seconds. Compared to traditional systems—or even older blockchains—this speed is revolutionary for payments, trading, and dApp interaction.

Low fees

Average transaction fees on Solana are fractions of a cent, clocking in at around $0.00026. This low-cost environment makes using the Solana blockchain highly attractive for frequent traders and users, as the cost impact of even small transactions is negligible.

^{A note on Investing: Investing in any cryptocurrency, including SOL, is speculative and carries risk. We strongly advise readers to perform their own research, consider their risk tolerance, and never invest more than they can afford to lose.}

How to use Solana (SOL)?

HODL your Solana Long-term

A long-term investment (often referred to as HODL, or “Hold On for Dear Life”) is a strategy where you believe the cryptocurrency will perform better over an extended period. For Solana, this means believing in the continued adoption and growth of its high-speed ecosystem. When choosing this strategy, it is critically important to secure your coins for the long run by keeping your private key offline, and protected by an industry-leading Ledger hardware wallet (now referred to as a secure digital signer because that’s what they empower you to do).

Trade your Solana Short-term

These investments are made for relatively short timeframes with the goal of making quick profits. Although SOL is liquid and can be bought and sold quickly on crypto exchanges, the crypto market is volatile. If you choose this path, you should thoroughly educate yourself and research the exchanges and trading platforms before committing any of your capital.

Use your SOL in DeFi, NFTs & xNFTs

The Solana ecosystem provides a vibrant, low-cost environment with unique utility for your SOL. Beyond simple trading, your SOL empowers you to participate in decentralized applications that replicate or expand traditional financial services:

Staking: You can stake your SOL directly with a validator to help secure the network and earn staking rewards. Learn more about staking Solana.
Decentralized Finance (DeFi): Use your SOL as collateral or liquidity. DeFi protocols on Solana enable you to lend your assets to earn interest, borrow other assets, or provide liquidity to a decentralized exchange (DEX) like Raydium or Orca to earn trading fees.
NFTs & xNFTs: Solana is a major hub for digital collectibles. Your SOL is used to pay the extremely low transaction fees when you mint, trade, or purchase non-fungible tokens on popular NFT marketplaces like Magic Eden or Tensor.

When exploring these options, you’ll need a reliable Solana wallet to manage your assets. For more information, read the Ledger Academy article about the Best Solana wallets.

How to safely buy Solana

When you are looking to buy Solana, two things matter most: the security and genuine ownership of your Solana assets.

Many people buy SOL through online exchanges like Coinbase, Kraken, or Robinhood. While these platforms are convenient, they are custodial, which means:

You do not own your private key: the exchange platform does.
Your crypto assets are stored alongside millions of other users’ assets, making platforms an attractive target for cybercriminals.
Your crypto is exposed to the exchange’s financial health and regulatory status: if the exchange goes bankrupt or their assets are frozen by local authorities, your crypto can be lost or inaccessible.

Providers like MoonPay and Transak are integrated directly into the Ledger Wallet app. While these same on-ramps may also be available on other exchanges or hot wallets, we recommend only using them through the Ledger Wallet interface because this ensures your funds are immediately and automatically secured by your Ledger hardware wallet (often referred to as a “signer” because that’s what it enables you to securely do for every transaction) the moment your purchase is confirmed.

Ledger's Non-Custodial Solution

For over a decade, Ledger has been providing the industry’s leading solutions for genuine ownership and secure management of your SOL: Self-Custody.

Our hardware wallets, combined with the all in one Ledger Wallet app, are the safest and simplest way to control your digital assets.

Offline Private Key: Your private key is generated and stored offline on a certified Secure Element chip inside your Ledger device, protected by your PIN and Secret Recovery Phrase, to restore access to your assets any time you need.
Immediate Ownership: When you buy SOL through the Ledger Wallet app, it is sent straight to your hardware wallet address, giving you full control from the very start.
End-to-End Security: You can securely buy, swap, stake, spend, monitor your SOL directly through the Ledger Wallet without ever compromising your keys or exposing them to the many risks associated with keeping them online. Even if you use staking services, your private keys remain offline, which is a significant security benefit over custodial staking offered by exchanges like Kraken or Coinbase.

Ledger gives you full control while protecting your SOL from hackers, phishing, and the counterparty risks associated with centralized and decentralized exchanges. This makes it the safest way to protect your Solana assets and the sovereignty of your dedicated Solana wallet.

Why buy Solana via the Ledger Wallet app

Learn more about the Ledger Wallet app

The easiest and safest way to acquire SOL is to buy it directly through the Ledger Wallet app.

We have partnered with trusted third-party providers to enable you to buy Solana using several popular payment methods, including secure options like bank transfers, debit card or credit card purchases, even using Apple Pay or PayPal (availability depends on your region and the specific partner).

When you use the Buy feature in the Ledger Wallet app, your newly purchased SOL is automatically sent to the address secured by your Ledger hardware wallet. This process ensures your coins are kept safe and in your control from the moment you complete the Solana purchase.