DeutschTogether with other smart contract platforms such as Cardano, Polkadot or Avalanche, Solana is one of the potential “Ethereum killers”. In fact, Solana had a rally in 2021 that was unparalleled. And by initiating a new memecoin phase, Solana has also developed strongly again in 2024.
If you are interested in buying Solana, you are probably wondering which provider is the best choice for this. In this guide, we will show you the best providers to buy the cryptocurrency Solana (SOL) in Switzerland, Germany and Austria.
Trade many different cryptocurrencies without a wallet with our CFD broker test winner Plus500 - 7 days a week.
What is Solana
Before you buy Solana, it is worth taking a look at the cryptocurrency.
Solana was founded in 2017 and is based in San Francisco and Geneva. However, the SOL currency only came onto the market in 2021 and was able to record growth of several thousand percent in the same year.
The blockchain is a platform for smart contracts, similar to Ethereum. Therefore, Solana is also one of the so-called “Ethereum killers”, which are trying to create a faster, cheaper and equally secure blockchain for transactions and other applications.
And Solana is actually much faster and cheaper than Ethereum. While Ethereum can currently only process around 100 transactions per second (TPS), Solana claims to be able to process up to 65 “000. According to the Solana Explorer, over 3” 000 transactions per second are currently being processed without any problems. In addition, the transaction costs on Solana are only a fraction of what it costs on Ethereum.
Due to the innovative model, institutional investors have also shown great interest in the cryptocurrency and invested early on. This also contributed to the rapid growth in 2021.
Where to Buy Solana? The 4 Best Providers
Below you will find an overview of the 4 best providers for trading the cryptocurrency Solana. By clicking on “Read review”, you can also take a look at our detailed review of the article.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Regulated provider from Austria - specializing in trading Bitcoin, Ethereum, stocks and many other assets.
Trade many different cryptocurrencies without a wallet with our CFD broker test winner Plus500 - 7 days a week.
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
Solana Price Development: should You Buy Solana?
Before we get to the instructions for buying Solana, we want to take a look at the previous SOL price development. However, remember that past results are no guarantee of the future development of an asset. Nevertheless, this data can be used as a basis for technical analyses.
- Solana
(SOL) - Price $177.68
- Market Cap
$95.82 B
Looking at the Solana price, it quickly becomes clear that the cryptocurrency experienced very strong growth in 2021. In fact, this is not uncommon in 2021, but in terms of returns, SOL has left numerous other cryptocurrencies behind. However, it is also noticeable that the price has reached far more than 50 percent since reaching its all-time high.
After the entire crypto market collapsed sharply in 2022, the SOL price also developed relatively moderately in 2023. The price moved between around $10 and around $20 between January and the beginning of October.
Since then, however, Solana has picked up strongly again and reached almost $200 at the beginning of 2024. This is mainly due to the renewed strong interest in memecoins, which are mostly created on Solana. To trade such coins, you must first buy SOL. This has caused the demand for the cryptocurrency to rise extremely sharply.
We have discussed this in more detail in our Solana price forecast.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Buy Solana Alternatives:
What should I Look out for when Buying Solana?
Since there are many trading platforms that allow you to invest in Solana, there are a few aspects that you should pay attention to beforehand. First and foremost, the following points are important before buying:
- Are they real SOL coins or just CFDs?
- Do I have to take care of the custody of Solana myself and how does that work?
- How high are the fees when buying Solana?
- Is it a reputable trading platform?
The list can certainly be expanded. However, the last point in particular is of immense importance. Only trade Solana on platforms where you are sure that it is a reputable provider. The trading platforms tested by CoinPro are all reputable, so you don’t have to worry about this at all.
Buy Solana CFDs or Real SOL Coins?
Some providers allow you to buy Solana CFDs. These are certificates with which you can bet on the price performance of the cryptocurrency. Solana CFDs therefore reflect the Solana price, but the buyer of Solana CFDs does not own SOL coins and can therefore neither transfer them nor use them in any other way.
This type of investment is particularly worthwhile for investors who only want to participate in the price development of Solana without having to worry about the complicated custody of the SOL coins.
However, it is important to know that CFDs are often traded with leverage. This allows you to trade with more capital than you have in your account. This can lead to large profits, but also to equally large losses. Therefore, you should definitely know a little about trading before trading SOL CFDs.
However, if you as an investor want to stake Solana or transfer your SOL coins, Solana CFDs are not the right investment option for you. Then it is necessary that you buy real Solana coins and actively take care of their custody yourself.
Buy Solana from a Crypto Exchange or a Crypto Broker?
We generally distinguish between two different types of trading platforms: crypto exchanges and crypto brokers. In the following, we want to give you a few details about both platforms.
Buy Solana from a Crypto Exchange
Crypto exchanges are usually trading platforms where you can buy numerous cryptocurrencies such as Solana from other users without contacting them directly. Instead, trading is done via the submission of orders. You can therefore buy Solana at a price at which another user offers it on the platform. As a small fee, you usually pay a small fee of less than one percent to crypto exchanges.
However, keep in mind that most crypto exchanges in Germany, Austria and Switzerland are not yet regulated. Nevertheless, even unregulated crypto exchanges such as Binance have proven to be extremely reputable and secure in the past.
It is important that you store your Solana coins in a hardware wallet after purchasing them on the crypto exchange. If you store your cryptocurrencies on the exchange, you run the risk of a hack and the associated risk of loss, for which the exchange is ultimately not liable.
In addition, crypto exchanges are generally a little less clearly structured due to the fact that you trade with other users of the platform. This makes it very difficult for laypersons in particular to keep track of things.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Buy Solana from a Crypto Broker
However, if you don’t want to deal with the custody of Solana and it is primarily about participating in the performance of SOL, a crypto broker is suitable for you. Crypto brokers are particularly interesting for beginners who focus on a clear user interface.
Therefore, we particularly recommend beginners to buy Solana from a crypto broker such as Bitvavo or Bitpanda.
With a crypto broker, your trading partner is always the broker himself, who offers you Solana at a certain price. A small difference is set between the selling and buying price of Solana, with which the broker ultimately finances himself. At Bitpanda, this corresponds to a spread of just 1.49%, which makes it very attractive compared to many other crypto brokers. At Bitvavo, you are even better off with 0.15 to 0.25%.
At Bitvavo and Bitpanda you buy real Solana, which you can keep yourself. If, on the other hand, you prefer to invest in Solana CFDs, the CFD broker Plus500 could be an option for you.
Store Solana Correctly
Theoretically, you can also keep Solana on the exchange or broker on which you bought the cryptos. In the event of a hack, your Solana may not be protected here. Therefore, we generally recommend always keeping cryptocurrencies in a wallet.
A wallet is, so to speak, a digital wallet in which you can safely hold SOL. Hardware wallets are the safest, as your coins are stored on a password-protected device without internet access. Our favorite for this is the Ledger. This company was founded in 2017 and has 2 models: the Ledger Nano S and the Ledger Nano X. Both are ideal for keeping Solana safe.
Instead of a hardware wallet, you can also use an online wallet. This is particularly useful if you want to trade Solana or perhaps buy a Solana memecoin.
The Phantom Wallet is best suited for this. This is a Chrome Extension, which you can install for free and use in any browser. Keep in mind that the coins are a little less secure than on a hardware wallet, as an online wallet could theoretically be hacked. It is best to keep only a small amount of SOL here and move the rest to your Ledger.
Conclusion
You can buy Solana most easily in Switzerland, Germany and Austria via Bitvavo or Bitpanda. If, on the other hand, you prefer to actively trade SOL, Plus500 or Binance are also well suited for this.
In any case, after buying real Solana, you should also take care of a wallet on which you can safely store it. Ledger is best suited for this.
If, on the other hand, you want to trade with SOL CFDs, you do not hold real Solana, but only participate in the performance. In this case, you cannot transfer the coins to a wallet and you cannot stake them. But you can also speculate on falling prices.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
