Solana is a young crypto project that was developed with the thought to solve all the current troubles the Ethereum blockchain has, that is:
- overloaded network
- high transaction fees
- low throughput.
The Ethereum blockchain has become a base for hundreds of decentralized applications developed and deployed on it. That are DeFi products, games, etc. Because of the vast network loading, the transaction fees were increased, and the speed of the network’s operation was slowed down. Proposing much better conditions for dApps developers, Solana has received enormous popularity among developers, and now many new products are built on the top of this blockchain (games, metaverses, etc.).
SOL is a native token of the Solana platform. The current SOL USDT price is $33,05. Within the Solana network, SOL serves as currency to pay transaction fees and staking. People buy SOL for long-term investment and daily trading. Depending on why you buy SOL, the choice of wallets will vary.
SOL Wallet for Day Trading
If you buy SOL coin and want to use it for high-intensive trading, you need a convenient hot wallet you can reach any second and proceed with a fast transaction. Trading requires quick reactions to market fluctuations, immediate decision-making, and a quality platform for trading. We recommend trying the WhiteBIT exchange for trading SOL. It offers a convenient wallet where you can safely store your coins and access them immediately when you need to proceed with a transaction. The wallet is easy to handle for a beginner and allows trading on the go without missing a single change to make a profit.
Where to Store SOL Crypto for the Long Term?
We recommend using a cold wallet if you want to buy SOL and forget about it until the SOL crypto price boosts. It can be any USB device or a ledger connected to the Internet when needed. You can place your coins on them and hold them in a safe place. When the time comes, you connect the device to your laptop and withdraw your COL coins with a profit.