The Solana cryptocurrency is in the TOP 10 in terms of capitalization in the world and competes with such giants as ETH and USDT. She is in 6th place in the ranking and is not going to lose ground. As the popularity of the blockchain of this token grows, we can expect the uptrend to continue. How to get the Solana coin and also use it to earn money?
Options for obtaining a coin
The easiest way is to purchase a cryptocurrency for another crypto or fiat money. There are two options:
- Exchange at a specialized service. To do this, you need to find an exchanger on the Internet that exchanges fiat money for SOL. Payment can be made with a bank card or an electronic payment system. The advantage of this option is the ease of operation. But you need to be prepared for the fact that the proposed rate will differ significantly from the exchange rate.
- Buying on the stock exchange. You can buy cryptocurrency on the exchange. The coin has high liquidity, therefore it is quoted with stablecoins USDT and BUSD, bitcoin, ether. It is better to carry out the operation on well-known and well-established exchanges. For example, Binance or Coinbase.
How to make money on Solana
There are also several ways to get profit on the SOL cryptocurrency. The choice of the appropriate option depends on the expected income and the degree of risk that the user can afford.
Ways of earning:
- First, investing. Since the cryptocurrency is quite liquid, and the project is in demand among users, we can expect further growth of the coin. And now there is a decline, so there is an opportunity to buy it at a low price. The investor needs to purchase the token and hold it until the price increases.
- Second, staking. This is a passive way of earning that users receive for maintaining the operation of the blockchain. To do this, you need to buy a coin and block it on your wallet. For such storage, the project pays a reward in sols. You can stake on the Binance exchange. The reward depends on the amount and number of days for which the coin is blocked.
- Third, trading. This option allows you to earn a large amount, but is accompanied by high risks. Quick earnings are possible due to the volatility of the digital asset. It can be bought and sold in a short time, making a profit in the form of a price difference. But for trading, you need to constantly analyze the market, track the news and make a decision about making financial transactions.
Now you know how to get the Solana coin and earn with it. But the investment decision is made by each user independently.