5 Reasons to Buy Solana in India
– It has shown a very healthy ROI of 5400X since its inception in the market.
– Solana facilitates low-fee transactions at the same time maintaining fast processing speeds.
– It uses Proof-of-History and Proof-of-Stake consensus algorithms.
– It has a market capitalization of more than $42 Billion.
– It has a maximum supply of 489 million SOL tokens.
What is Solana?
Solana was founded in 2017 and was able to raise a massive $25 million in its ICO (Initial Coin Offering). The platform was launched later in 2020.
It started with the aim of providing power to a large number of DApps without compromising on other features. Solana is a highly secure platform that allows developers to build atop their blockchain. With high TPS and low block time, it attracted the interest of small-time traders and institutional traders. Solana also enjoys a mixture of consensus algorithms to improve the scalability of the network. SOL, the gas token of Solana, is used to power all the transactions and smart contract operations on the network.
3 Things to know while Investing in Solana (sol)
– Solana can process more than 50,000 transactions per second (TPS).
– It is a very distributed blockchain with close to 1000 validators on its network.
– Users can also earn SOL tokens by supporting the security of the network through staking.
You can buy Solana through P2P (Peer to Peer) trade. Several Decentralized Exchanges or DEX allows to connect buyers and sellers to purchase cryptocurrencies; else, you can look for someone who already owns SOL. However, such ways might look very lucrative, but they aren’t. Decentralized exchanges have complex functionality, and for taking the P2P route, you would require a trusted seller. This is why these are opted only by Pro traders.
For an easy and simplified experience, you can Download CoinSwitch Kuber!
You can buy Solana in just 4 stages on CoinSwitch Kuber:
- Open the CoinSwitch Kuber app, click on the Market tab from the bottom navigation, and select Solana.
- Click ‘Buy’.
- Enter the figure you would like to buy Solana for, and click ‘Preview Buy’
- Confirm all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Solana!
There is no answer to this question as a majority of cryptocurrencies are still in the development stage. The prices can surely rise in the coming years, and you would regret not buying it at low prices.
Instead, you can invest little amounts periodically and balance the opportunity and risk. Start
investing in Solana for as low as ₹100
There isn’t a good time to invest in assets because the value of assets increases over time. If you look for the opportunity to buy at lower prices, you may be missing the opportunity of gaining returns around this time.
You can start with small amounts and use them over a period of time. However, you can always choose to invest a lump sum amount when Solana (SOL) is available at lower prices.
There are dozens of platforms available on the Internet for buying Solana (SOL), but what differs is the experience and interface that allows for easy investments in the long run.
The cryptocurrencies apps that are available in the market are complex to use and can make your buying experience horrible; however, CoinSwitch Kuber provides complete peace of mind by allowing you to buy cryptocurrencies with ease.
Disclaimer :The content of this article is for informative purposes only. It is not intended as a substitute for investment/ financial advice. If You decide to act upon this information, You shall do it at your own risk. While such video/ article has been verified, it depends on third-party sources too, and CoinSwitch Kuber does not guarantee that there are no mistakes or errors nor does CoinSwitch Kuber represents the views presented in such article to be it’s own.