Cryptocurrency is becoming a common means across various industries. Digital coins are now accepted payment methods and are provided as rewards in different digital metaverses with games. There are many blockchain-based projects with completely unique use cases, which makes them interesting not only for geeks but for serious investors and traders. They see huge prospects and realize that investments in unique startups bring huge financial gains, accounting for millions of dollars.
In this short review, we will explain whether you should buy crypto called Solana. There are many SOL reviews but few of them reveal trading platforms with the best conditions for cryptocurrency trading. We know several distinct options. Let’s dwell on them and on the prospects of buying SOL coins.
Introduction to Solana
The history of Solana dates back to 2017. Many inexperienced users don’t realize that cryptocurrencies aren’t just weird virtual tokens. The biggest crypto projects, including SOL, are special instruments that power special decentralized platforms. In the case of Solana, the blockchain provides a space for developers of decentralized apps.
Solana has become so popular among developers and crypto enthusiasts thanks to its highly efficient performance. By this, we mean that the Solana blockchain enables the processing of a big number of transactions at low fees. Actually, the principles of Solana’s work are very common to Ethereum, however, it’s much quicker. This is one of the reasons why the SOL price increased by almost 12,000% over 2021. Of course, the volatility of the crypto market played its part. After the crash in 2022, SOL is valued at $13.48 with a market capitalization of almost $5 billion as of the date of writing.
One more reason for Solana’s success is its unique model of execution introduced by Anatoly Yakovenko – the founder of the project. This tool is called the prof-of-history consensus mechanism. This is proof for verifying order and passage of time between events, and it is used to encode the trustless passage of time into a ledger.
Popular crypto brokers
Crypto trading is enabled by special crypto exchanges. Many of them are decentralized platforms based on blockchain technology. With crypto exchanges, you can not just buy crypto coins, but invest in NFTs, trade cryptocurrency pairs, earn on interest, and more.
Another way to invest in cryptocurrency is to buy it through a brokerage service such as the DotBig company. Online brokers have one crucial advantage of crypto exchanges – they provide exposure to other markets as well. Thanks to this, you can learn more about online trading in different markets. Here is our comparison of the best multi asset brokers offering cryptocurrency trading.
|Markets||Forex, stocks, CFDs, indices, commodities, ETFs, crypto||Forex, stocks, CFDs, indices, commodities, ETFs, crypto||CFDs on forex, indices, commodities, cryptocurrencies, stocks, and ETFs.|
|Total Products||over 1,000||over 3,000||over 2,500|
|Trading Platforms||MetaTrader 4, MetaTrader 5, DotBig Web||MetaTrader 5, eToro||xStation, xStation Mobile|
You should consider becoming a DotBig crypto trader because the DotBig company offers really favorable conditions for those who speculate on crypto prices. Besides, it has a special service called DotBig Card created specifically to hold and transfer your crypto assets.
Pros & Cons of investing in Solana
|Thanks to fast transactions and low fees, Solana is supposed one of the biggest Ethereum killers||The Solana network is unstable, which makes it unattractive for crypto enthusiasts|
|Solana enables the use of NFTs and smart contracts, which are current trends in the crypto industry attracting thousands of enthusiasts||Solana has a small number of projects powered by the platform|
|Solana is an eco-friendly blockchain-based platform||Solana has problems with the supply of coins, which makes the asset prone to inflation|
|Solana enables staking|
|According to technical analyses, the average price of SOL in 2025 will be $43|
Why do investors choose DOGE?
Most crypto investment experts are optimistic regarding the future of the project. Here are two forecasts from experienced investors:
- Kliment Dukovski, a cryptocurrency specialist at Finder, believes that SOL has the capabilities to reach the point of $35 by the beginning of 2023. In 2025, he expects the coin to be worth $116, which is even more optimistic than the algorithm-based forecast.
- Walker Holmes, the co-founder of MetaTope, isn’t as optimistic as two previous investment experts. According to his estimations, “the community can work together to solve problems related to centralization in the Solana network and allow the network to evolve in a sustainable way.” If this is right, he expects the coin to reach $100 by 2025.
Conclusion: should you invest in Solana now?
Considering the level of volatility on the crypto market, we cannot say precisely whether SOL will bring good investment returns. Nevertheless, we can estimate that so far this project produced quite a remarkable return. That’s why we consider SOL one of the best crypto assets to invest in now.
Is SOL a good investment?
Solana has a good future as one of the best performing Ethereum killers. Thanks to its advanced proof-of-history consensus mechanism and fast processing of transactions, it attracts crypto enthusiasts and developers.
How to invest in SOL?
To start investing in Solana, register a special account on a crypto exchange. If you prefer trading with brokers, we suggest that you should start working with the DotBig Make a minimum required deposit of $250 and add a certain amount of SOL coins to your investment portfolio.
Is it a good time to make investments in SOL?
It might be the best time to invest in SOL. Solana will definitely have a nice bullish rally in the nearest future. Currently, you can use the opportunity and buy it at a relatively low price compared to other mainstream coins.
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