Buy Solana (SOL): quotation and forecast
Published: 31 May 2021 by Andrew
Blockchain technology is constantly evolving and tries to solve a problem it has been carrying around for some time: Speed, or the number of transactions per second. Solana is a cryptocurrency that tries to solve this problem and is one of the reasons why many crypto investors have started to buy Solana.
First generation blockchains (such as Bitcoin’s) can handle 4.6 transactions / second, the Ethereum network reaches up to 15, but to use a cryptocurrency as a currency, a much higher speed is needed.
There are new blockchains that are trying to reach high speeds and Solana appears to have succeeded. But, how do you buy Solana?
You simply need an intermediary and 4 steps like these:
- Register with a regulated CFD Broker like eToro
- Make the minimum deposit required
- Search for Solana is on the platform
- Decide how much to invest in the operation
With CFD brokers you can buy Solana (SOL) without paying commissions, which is why we offer this type of broker for the operation.
Choose one of the best cryptocurrency trading platforms that we have listed below, they are safe, reliable and convenient:
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Solana (SOL): live quotationClick here to watch the real time quotation of Solana
Solana, what is SOL?
Solana was born in 2017 and, as we have said, tries to solve some of the limitations of traditional cryptocurrencies.
Its blockchain is PBFT (Practical Byzantine Fault Tolerance-based) and was created from scratch in Solana Labs, Switzerland.
This Proof of Stake (PoS) blockchain sets itself the goal of global scalability of cryptocurrencies and proposes a system that “should” hold up even in the case of widespread use of this, as trading currencies.
The creator of the project is Anatoly Yakovenko (CEO of Solana) and has published a “White paper” describing the Proof of History, a system that allows you to synchronise even computers that “do not trust each other”.
The start of the project took place thanks to a fundraising of over $ 25 million, which involved some large international investment banks.
Solana promises to handle 50,000 TPS (transactions per second) on a network of 200 nodes and to do so without any latency or compatibility issues.
How to buy Solana
To buy Solana (SOL) there are two types of financial intermediaries available to investors: Cryptocurrency exchanges and CFD brokers.
In this table you will clearly see what distinguishes these two purchasing methods, let’s see what they are:
If we want to summarise again we say that:
- Exchanges are more expensive (they charge commissions), risky (they suffer frequent cyber attacks) and allow you to earn only if the price of Solana increases.
- CFD brokers, on the other hand, are safe and regulated, there are no commissions to pay and there is also the possibility of earning if Solana’s price drops.
Buy Solana with the best platforms
Basically, if you want to trade online, i.e. earn from Solana’s price changes, CFD Brokers offer a perfect solution: They have a regular license and allow you to trade without paying commissions.
The license is essential in choosing the best platforms to buy Solana. We only offer Brokers with regular authorizations issued by CONSOB or CySEC, so you can rest assured.
Keep in mind that CFD Brokers allow you to trade derivatives (called Contracts for Difference). They have numerous advantages as we have seen and you won’t even have to worry about “storing” cryptocurrencies in a wallet, because you are not buying them “physically”.
Actually you are just speculating on price changes, much simpler and more effective!
If you want to start on the right foot and invest in cryptocurrencies with safe and convenient intermediaries, you can start with these two brokers, which represent, in our opinion, the best choices to buy Solana without paying commissions: eToro and ForexTB.
eToro is the most popular online broker in the world, it does not need many introductions, has convinced over 20 million subscribers and has obtained several international licenses.
Among these licenses there is also that of the CONSOB and CySec for Europe, which protects us from scams.
The trading platform developed and offered by eToro is one of the most intuitive on the market. The software is very easy to use but is still complete and full of technical analysis indicators.
To buy Solana with eToro you will need to register with the Broker, access the platform by making a minimum deposit of 200 euros, select the Solana (SOL) crypto and click on “Trade”.
At that point you can both buy and sell SOL, without paying commissions.
But there is a service that also allows you to make automatic investments if you are not interested in operating independently on the markets.
This service is an eToro patent and is called Copy Trading.
As the name suggests, this patent allows you to “copy” the operations performed by the traders you choose on eToro, among the best in the world.
Let’s see how Copy Trading works:
- Register on eToro
- Log in to the Demo account or deposit at least € 200 and use the real account
- In the People section, choose the traders to copy, based on their returns, filtering (if you want) those who invest in cryptocurrencies.
With a click, Copy Trading will copy the operations of the chosen traders into your account.
In this way you will get the same returns as the traders you are copying (in proportion to the investment made), at no additional cost.
Let’s see some examples of traders that you could copy:
Click here and choose which trader to copy
ForexTB is the other great opportunity for those who want to start trading cryptocurrencies without problems and without errors.
Surely it provides one of the simplest and most intuitive interfaces, accessible even to those who really start from scratch. All members receive free phone assistance from a true cryptocurrency expert who provides precise information on what to do. Getting it wrong is literally impossible.
Those who want to have the opportunity to download a truly exceptional eBook that explains, in simple language, how to make money by trading cryptocurrencies or other financial securities.
This guide has been a resounding success, with thousands of downloads, because it is free (the other guides are paid and can cost a lot), also suitable for beginners and, above all, very useful since it explains exactly what you need to know to make money without losses of time with theory.You can download the guide by clicking here
ForexTB is completely free and commission-free. It is possible to use an unlimited and unconstrained demo account, perfect for gaining experience with cryptocurrencies without any kind of risk.You can sign up for free on ForexTB by clicking here
Solana (SOL): how does it work?
The inventor of Solana, one of the most promising altcoins on the market, described 8 fundamental innovations that this emerging cryptocurrency brings with it:
- Proof-of-History (PoH),
- Tower BFT, an optimized version of the PBFT,
- Turbine, a block propagation tool,
- Gulf Stream, a Mempool-less transaction forwarding protocol,
- Sealevel, parallel execution time of the Smart Contract,
- Pipelining, a transaction processing unit for validation optimization,
- Cloudbreak, a horizontal scale account database,
- Archivers, a distributed registry archive.
We don’t want to go into detail about each of these innovations but we will talk about the most important: The PoH, the main feature of Solana.
Proof of History (PoH) of Solana
According to Yakovenko, the creator of Solana, it was necessary to try to create a decentralized network of nodes, which matched the performance of a single node.
To realize this idea it is necessary to optimize the communication between the single nodes of the network.
The Proof of History (POH) concept solves precisely this problem.
In practice it is a “clock” that marks the time on the blockchain before consent to the transaction.
In the most popular blockchains, the validators “talk” to each other to agree on the passage of time, while on Solana there is a string that encodes the passage of time and allows you to verify the sequence of events in an absolute way.
Since each validator has its own “clock”, the block producers are chosen in advance, before the consensus and are in order and well synchronized.
Without wishing to go too far into the technical, this innovation renders useless the “communications” between the validators, which are organized by the PoH. In this way, speeds previously unimaginable for a blockchain can be achieved.
Solana promises to achieve between 50 and 80 transactions per second!
Is it worth to buy Solana?
As we explained, Solana brings huge practical innovations and this makes it a really useful cryptocurrency that could actually be used for trading.
Below we can see a graph showing Solana’s trend in recent months, with a notable growth trend:
When the fundamentals of a cryptocurrency are so solid it is normal for the price to rise and Solana has very solid fundamentals.
Behind the project is a very serious Swiss company and a series of respectable innovations.
But there is another reason that is generating interest around Solana. Recently, this cryptocurrency is also tradable on Coinbase, one of the most popular exchanges in the world and which this year was also listed on the NASDAQ.
Solana is therefore legitimized on this famous trading site and this is further fueling investors’ trading intentions.
This year Solana has received private investments of over $ 20 million, many believe in the project and the price of the cryptocurrency only grows accordingly, similar to another very innovative cryptocurrency we have already talked about: Polygon.
We have said that cryptocurrency exchanges are risky and expensive (they charge fees for each transaction) but we also know how important they are for the cryptocurrency world.
So to buy Solana and speculate on the continuous price changes of these cryptocurrencies, CFD brokers are safer and cheaper but the fact that Solana is available on Coinbase and on major exchanges such as Binance, Crypto, etc. it increases their prices.
Experts have long shown that a listing on Coinbase generally leads to huge price increases, especially in the beginning.
But now let’s find out what the predictions on Solana look like by analyzing the estimates of some cryptocurrency experts:
- The Economy Forecast Agency predicts big earnings for Solana (SOL). They expect the cryptocurrency to close 2021 with a price tag of $ 155.
- DigitalCoinPrice is much less bullish. They expect the coin to barely surpass its current all-time high, hitting just $ 57 this year.
- WalletInvestor expects a valuation of $ 171 by May 2022.
- Coin Price Forecast is more bullish of all. They expect Solana to hit a high of $ 206 by the end of the year.
Buy Solana Conclusions
Solana is a cryptocurrency based on a very innovative system and a blockchain network that can “hold” over 50,000 transactions per second.
Its price is growing strongly and there are many investors interested in the project. Buying Solana means investing in a truly innovative but very practical idea, which can quickly find applications in the real economy.
Before investing money on Solana, if you don’t have a lot of cryptocurrency tranding experience, you can practice on the Demo account of one of the brokers we have proposed in this guide.
This way you will not take any risks while studying an effective trading strategy.
Once ready, to do serious trading, just switch from the Demo to the Real account and buy Solana through one of the brokers below:
- Register for free on the eToro Demo account by clicking here
- Log in for free on ForexTB and try the Demo account by clicking here
Solana is a blockchain network project that allows a high transaction load per second.
Solana was created in the Swiss Solana Labs by Anatoly Yakovenko (CEO).
Leading cryptocurrency experts are predicting Solana’s price will rise in the coming months.
To invest safely and without paying commissions you can use CFD brokers like eToro.