Solana is a third-generation, Proof of Stake (PoS) blockchain that supports fast transactions and high throughput. It was established to scale transactional speeds without compromising on security, privacy or decentralisation and supports thousands of nodes. The project first began in 2017, however, it was officially launched in 2020. Solana aims to improve scalability and create a system for determining the time transactions take place using a Proof of History (poH) consensus mechanism.
The SOL token is the native cryptocurrency of the Solana blockchain. SOL is used to pay for fees when making a transfer or interacting with smart contracts. The SOL token can also be used for staking as part of the PoS consensus mechanism.
Check out our deep dive on Solana, available on Swyftx Learn.
Solana is one of the biggest cryptocurrencies in the world by market cap, and currently sits in the top 20 list. You can buy Solana (SOL) in Australia on the Swyftx Crypto Exchange.
You can buy Solana (SOL) in Australia on a registered cryptocurrency exchange such as Swyftx. The trading platform is designed to create a seamless trading experience for traders of all experience levels. To buy Solana coin, start by creating your account. Provide a few personal details like your full name, phone number and email address and create a secure password. The next stage is to submit a form of government-issued photo ID (i.e. drivers license, passport etc.) to verify your account.
Once verified you can then deposit funds into your account via one of the following payment options: POLi, PayID, bank transfer or credit/debit card. Once funds have been deposited, enter the amount of Solana you’d like to buy, or the AUD equivalent you’d like to purchase and then confirm your order.
If you’re concerned about the financial risk involved with trading crypto, you can trial Swyftx’s demo mode to mock trade with artificial currency. This is a great option for crypto beginners who are looking to learn the markets before committing themselves financially. The demo gives you $10,000 USD in mock currency to buy, sell and trade Solana (SOL) and other cryptocurrencies.
Swyftx is a AUSTRAC registered cryptocurrency broker. We treat security as a top priority and have implemented a number of advanced security features to ensure our customers can buy, sell and trade crypto in a safe environment. Security features include two-factor authentication (2FA), biometric logins, breached password protection, KYC verification, automatic session expiry and much more.
You can scan safely store Solana in a number of digital wallets. When you buy SOL with Swyftx, it will be automatically stored in the wallet that is integrated with your account. Here you can easily store, send or trade your Solana. Alternatively, you can easily withdraw your Solana and transfer it to an external wallet of your choice. This could be a hardware wallet like a Ledger Nano or a web wallet like MetaMask.
Yes, Swyftx supports deposits made with credit and debit card. To make a deposit with your credit card. navigate to the deposit tab in your account and select the credit card option. You’ll then be redirected to the Banxa site, which is one of our payment providers. Once your deposit has been received, you can buy and sell Solana instantly.
Swyftx Cryptocurrency Exchange offers low trading fees and small spreads.
Verify online instantly without uploading documents and deposit AUD to start Solana trading in less than 2 minutes.
Breached password detection and Two Factor Authentication help protect your account from scammers.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.Create a free account
Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi
Automate your crypto investments. Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.
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Easily secure your account with multi-factor authentication and biometric login. Swyftx also monitors other sites for data breaches that might result in compromises on your account.